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Affordable Housing

Affordable HousingDevelopmentMassachusettsNews

Pennrose Opens 55-Unit Mary D. Stone Mixed-Income Community in Auburn, Massachusetts

by Jeff Shaw

AUBURN, Mass. — Pennrose has opened Mary D. Stone Apartments, a 55-unit, mixed-income seniors housing community in Auburn, a suburb of Worcester. The project was the historic rehabilitation of a 1920s-era school building, including the demolition of later-built wings and the construction of a new addition. Mary D. Stone was designed to help address the widespread shortage of affordable housing in Massachusetts, where the National Low Income Housing Coalition estimates there are only 48 available affordable rental homes for every 100 low-income households. Eighty percent of the units at Mary …

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Affordable HousingDevelopmentNew YorkNews

Catholic Charities Opens 135-Unit Pope Francis Affordable Community in Brooklyn

by Jeff Shaw

NEW YORK CITY — Catholic Charities Brooklyn and Queens has opened the doors on Pope Francis Apartments at Loreto, a 135-unit affordable seniors housing community in Brooklyn’s Brownsville neighborhood. RKTB Architects designed the community, which features a mix of units for formerly homeless seniors, independent residences and supportive housing. Built on the former site of a church, the building rises eight stories. The property is designed to match with the adjacent Baretta Apartments, which RKTB designed utilizing the firm’s Affordable Infill Prototype (AIP) design template. Pope Francis Apartments include rooftop …

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AcquisitionsAffordable HousingFloridaNews

AHIB Sells Two Affordable Communities in Palatka, Florida for $4.9M

by Jeff Shaw

PALATKA, Fla. — Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, and Grand Pines Apartments, a 78-unit senior living apartment community. Both properties are located in Palatka, approximately midway between Jacksonville and Orlando. The Grey Rock Group LLC acquired the assets from a private investor for $4.9 million. Kyle Shoemaker and Bill Brading of represented both the buyer and the sellerin the transaction. Kay Larkin and Grand Pines were both developed using LIHTC and SAIL funding and are subject to regulatory agreements …

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Paychex Labor Shortage Hiring Practices Quote
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersFeaturesIndustry ContentOperationsPeopleTechnology

How to Streamline Senior Living Community HR Processes

by Sarah Daniels

Cut Costs, Save Time and Recruit and Retain Good Workers The growth of the aging population is creating more demand for senior living options. But growing demand is colliding with a labor shortage, adding to the workload and strain on senior living communities. Scalable, streamlined HR infrastructure can help. Efficient and cost-effective solutions can cut expenses and reduce the amount of executive time spent on staffing issues. Enhanced back-office systems can also help boost recruitment and retention efforts. “Everything we do is designed and built around taking the burden off …

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AcquisitionsAffordable HousingNewsPennsylvania

CPP Buys 13-Story Methodist Towers Affordable Community in Erie, Pennsylvania

by Jeff Shaw

ERIE, Pa. — Community Preservation Partners (CPP), a mission-driven affordable housing developer, has acquired Methodist Towers, a high-rise affordable seniors housing community in Erie. The 13-floor complex comprises 138 units, 57 of which receive subsidy under a Section 8 Housing Assistance Payments (HAP) contract. CPP plans to implement a tenant in-place rehabilitation with minimal displacement for residents. CPP received an issuance of tax-exempt bonds and Low-Income Housing Tax Credits (LIHTCs) from the Pennsylvania Housing Finance Agency (PHFA), with construction and permanent loans from Citibank as well as equity raised from …

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Active AdultAffordable HousingAssisted LivingCCRCIndustry ContentPeopleSkilled NursingTechnologyVideosWebinars

Webinar: What’s Ahead For Seniors Housing Staff, Leaders and HR

by Sarah Daniels

  The “What’s Ahead For Seniors Housing Staff, Leaders and HR: A Study on 2022 Business Priorities” webinar took place April 14 and was hosted by Seniors Housing Business and sponsored by Paychex. The discussion focused on staff retention and engagement; diversity, equity, and inclusion initiatives; and resiliency strategies for the industry. In a time of labor shortages, keeping staff happy and well trained has become particularly difficult for senior living communities. Using Paychex’s recent survey results on workforce challenges, this webinar explores the most challenging aspects of managing staff, the Great …

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AcquisitionsAffordable HousingCaliforniaNews

Avanath Acquires St. John’s Manor Affordable Community in Costa Mesa, California

by Jeff Shaw

COSTA MESA, Calif. — Avanath Capital Management LLC has acquired St. John’s Manor, a 36-unit affordable seniors housing community in the Orange County city of Costa Mesa, for $11.8 million. Built in 1984 and renovated in 2007, St John’s Manor is currently 100 percent occupied. This acquisition comes on the heels of Avanath’s acquisition of The Overlook at Anaheim Hills, a 261-unit seniors housing community in Anaheim, and The Grove Senior, an 85-unit seniors housing community in Garden Grove. “We entered the Orange County market earlier this year, and plan …

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Affordable HousingDevelopmentFinanceFloridaNews

Greystone Provides $17.5M HUD Loan for Affordable Rehab Project in West Palm Beach, Florda

by Jeff Shaw

WEST PALM BEACH, Fla. — Greystone has provided a $17.5 million HUD-insured loan for the redevelopment of Christian Manor Apartments, a 200-unit affordable seniors housing community in West Palm Beach. Jon Morales of Greystone arranged the loan on behalf of the borrower, Phase Housing Corp. Inc. Christian Manor includes four three-story buildings that offer studio and one-bedroom units. Originally built in 1972, the property will provide affordable housing for low-income residents, which is classified as below 60 percent of area median income (AMI), and “extremely low-income” residents (below 28 percent …

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Affordable HousingDevelopmentNewsUtah

Canterbury Partners Completes Affordable Community in Ogden, Utah

by Jeff Shaw

OGDEN, Utah —Canterbury Partners LLC has completed work on Senior Living on Washington, an affordable seniors housing community in Ogden, approximately 35 miles north of Salt Lake City. Partners on the project include R & O Construction, Think Architecture, The Richman Group Affordable Housing Corp., JP Morgan Chase Community Development Bank, Rocky Mountain Community Reinvestment Corp. and the Olene Walker Housing Loan Fund. Senior Living on Washington is a 100 percent affordable housing project for seniors over age 62. EMG Management will be the operator.

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Affordable HousingDevelopmentNew JerseyNews

Walters Starts Construction of Expansion at Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters has started construction of the second phase of Cornerstone at Branchburg, an age- and income-restricted apartment community in Branchburg. Situated on 11.7 acres, the property will feature 150 units when both phases are completed. Each phase represents a three-story building, with the first scheduled for completion in December 2022 and the second in spring 2023. Apartment floor plans include one- and two-bedroom residences, ranging from approximately 700 to 900 square feet. The development team is seeking LEED and Energy Star certifications. Priority is given to residents …

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