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Affordable Housing

Affordable HousingDevelopmentIllinoisNews

Bywater Development Group Completes $14.2M Lofts on the Square in Belleville, Illinois

by Jeff Shaw

BELLEVILLE, Ill. — The Southwestern Illinois Development Authority (SWIDA) and Bywater Development Group have completed construction of Lofts on the Square, an affordable housing community in Belleville, a suburb of St. Louis. The $14.2 million project was a historic rehabilitation of a 90-year-old building downtown Belleville’s public square. The property’s 47 units were fully preleased before the opening. The asset also features more than 3,000 feet of street-level commercial space that remains available for lease by retailers and restaurants. The six-story building opened in 1931 as the Hotel Belleville. It …

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Affordable HousingDevelopmentMassachusettsNews

Arch Communities, WinnCompanies Complete $25.7M Redevelopment of Historic School in Southbridge, Massachusetts

by Jeff Shaw

SOUTHBRIDGE, Mass. — Arch Communities and WinnCompanies have completed a $25.7 million adaptive reuse project to transform a 106-year-old historic school building in Southbridge into apartments for seniors age 55 and older. The Residences at Wells School features 62 apartments, 56 of which provide affordable housing for those earning up to 60 percent of the area median income (AMI), including eight apartments reserved for residents at or below 30 percent of the AMI. Six apartments have been customized for handicapped and sensory-impaired households. WinnResidential, the property management arm of WinnCompanies, …

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Active AdultAffordable HousingDevelopmentMichiganNews

Lockwood Breaks Ground on $45M Community in Ann Arbor, Michigan

by Jeff Shaw

ANN ARBOR, Mich. — Lockwood Cos. has broken ground on Lockwood of Ann Arbor, a 154-unit seniors housing community in Ann Arbor. The three-story, 168,130-square-foot building includes 65 units dedicated as affordable housing. Development costs were estimated at $45 million. Rents will range from $864 for a one-bedroom apartment to $2,750 for a two-bedroom apartment.

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Affordable HousingDevelopmentNew YorkNews

Lendlease Tops Out 149-Units Garden Towers Affordable Community in the Bronx

by Jeff Shaw

NEW YORK CITY — Lendlease has topped out Garden Towers, an affordable seniors housing community in the Bronx. Foxy Management is developing the property in partnership with HANAC Inc. and JLD Advisory LLC. The project includes two residential buildings — rising seven stories and eight stories — that together offer a total of 149 rental units for low-income adults age 62 or older. Lendlease, the construction manager for the project, broke ground on the development in August 2021 with an expected completion in 2023. “Garden Towers represents our third project …

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Affordable HousingDevelopmentIllinoisNews

Evergreen Breaks Ground on $30M Bellwood Senior Apartments Near Chicago

by Jeff Shaw

BELLWOOD, Ill. — Evergreen Real Estate Group has broken ground on Bellwood Senior Apartments, an 80-unit affordable rental community in the western Chicago suburb of Bellwood. The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Professionally operated by Evergreen’s in-house management team, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60 percent of the area median income. Evergreen will begin accepting applications for the apartments in spring 2023, …

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Affordable HousingDevelopmentFloridaNews

Integra Investments, EHDOC Complete $58M Mosaico Affordable Community in Miami

by Jeff Shaw

MIAMI — A joint venture between Miami-based Integra Investments and nonprofit Elderly Housing Development & Operations Corp. (EHDOC) has completed Mosaico, a $58 million affordable housing community in Miami. The 13-story property will span 271 apartments reserved for households with citizens aged 62 years and older. Located in Miami’s Allapattah neighborhood, Mosaico features 179 one-bedroom units and 92 studios and townhomes. CC Hodgson Architectural Group designed the project. Integra Investments and EHDOC worked alongside HUD, the Housing Finance Authority of Miami-Dade County, City of Miami and Miami-Dade Public Housing & …

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Affordable HousingDevelopmentFloridaNews

Wendover Housing Partners Opens $27.6M Hawthorne Park Affordable Community in Orlando

by Jeff Shaw

ORLANDO, Fla. — Wendover Housing Partners and the government of Orange County, Florida, have opened Hawthorne Park, an affordable seniors housing community in the Pine Hills neighborhood of Orlando. Hawthorne Park replaces a portion of an underutilized shopping center. The 120-unit community is designed for residents 55 and older meeting income requirements. According to the National Low Income Housing Coalition (NLIHC) 2022 GAP report, the Orlando metro area only has 18 affordable and available homes per 100 extremely low-income renters. A recent study conducted at the request of the Orange …

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Affordable HousingDevelopmentFrom The Magazine

Developers Reinvent Adaptive Reuse

by Jeff Shaw

Creative projects tackle many of the biggest trends in seniors housing, such as multigenerational living, affordability, downtown locations and walkable neighborhood amenities. By Jeff Shaw Adaptive reuse projects are a tricky proposition for seniors housing developments, with a long list of both pros and cons.  On the positive side, a historic building that is valued in the community may find new life. Historic tax credits become available to help a project pencil out and increasing construction materials costs are mitigated by reusing an existing structure. Additionally, by reusing an existing …

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Affordable HousingDevelopmentNew YorkNews

Breaking Ground Opens Betances Residence Affordable Community in the South Bronx

by Jeff Shaw

NEW YORK CITY — Breaking Ground has opened Betances Residence, an affordable supportive living community in the South Bronx area of New York City. The community features 152 units in a 120,000-square-foot buildingin the Mott Haven neighborhood. Betances is Breaking Ground’s first Passive House-certified project, and among only a handful of supportive residences in the city to embrace the energy use standard. The Betances development is part of a commitment by the New York City Housing Authority (NYCHA) and New York City Department of Housing Preservation and Development (HPD) to …

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Affordable HousingDevelopmentMissouriNews

Joint Venture Completes Phase I of Scott Manor in St. Louis, Breaks Ground on Phase II

by Jeff Shaw

ST. LOUIS — A partnership including Roanoke Construction Inc., The Oakland Group LLC and BTWF Urban Initiative has opened Phase I of Scott Manor Senior Living, a mixed-income seniors housing community in St. Louis. Phase I features 42 two-bedroom units, amenity space and 1,500 square feet of retail space. The first units are fully occupied. Simultaneously with the grand opening, the partnership also broke ground on Phase II, which will add 50 one- and two-bedroom units to the property. Missouri Housing Development Commission financed the development alongside private investors and …

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