Sunday, January 12, 2025
Read the Magazine Subscribe

Affordable Housing

Affordable HousingConnecticutDevelopmentKeyBankNews

KeyBank Provides $37.5M for Affordable Housing Renovations in New Haven, Connecticut

by Jeff Shaw

NEW HAVEN, Conn. — KeyBank has funded a $37.5 million financing package for Community Preservation Partners (CPP) and Hampstead Development Partners, which will use the funds to acquire and renovate an affordable seniors housing property in New Haven. Originally built in 1973, Fairbank Apartments, a Section 8 property on one acre of land, consists of 121 units (106 one-bedroom and 15 two-bedroom) and one ground-level retail bay in a nine-story building. KeyBank operates a branch out of the retail space. The property will have a Housing Assistance Payments (HAP) contract …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentGeorgiaNews

Tapestry Development, Columbia Residential Open $19M Stride Senior Residences Near Atlanta

by Jeff Shaw

DECATUR, Ga. — Tapestry Development Group and Columbia Residential have opened Stride Senior Residences, a 90-unit affordable seniors housing community in Decatur, just east of Atlanta. Development costs were estimated at $19 million. A grand opening ceremony was held May 27 at the property. The transit-oriented community provides critical affordability in a high-cost area, according to the developers. Eighty percent of the units serve seniors earning below 60 percent of the area median income. The location features walkable access to a variety of retail, grocery stores, restaurants, professional services options, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentNewsTexas

KWA Construction Builds 120-Unit Affordable Community in Fort Worth

by Jeff Shaw

FORT WORTH, Texas — KWA Construction has completed Phase II of Columbia Renaissance Square in Fort Worth. Columbia Residential developed the 120-unit affordable senior living community for persons age 62 and above. Designed with improved energy efficiency, indoor air quality and lower utility costs, the residences are built to achieve certification by National Green Building Standard. JHP Architecture designed the three-story, 95,015-square-foot building. Purpose Built Communities, a nonprofit consulting firm, was also a partner on the project.

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaNews

Carrfour Supportive Housing Opens $15.3M LGBTQ-Friendly Community in Wilton Manors, Florida

by Jeff Shaw

WILTON MANORS, Fla. — Carrfour Supportive Housing, Florida’s largest nonprofit affordable housing developer, has teamed up with The Pride Center, one of the nation’s largest nonprofit LGBTQ+ community centers, to complete The Residences at Equality Park, an LGBTQ-focused supportive housing community. The $15.3 million, 48-unit, four-story development is located on The Pride Center’s Equality Park campus just north of Fort Lauderdale in the city of Wilton Manors. The community provides permanent affordable housing coupled with on-site supportive services for low-income residents over age 55 living with disabling conditions such as …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFinanceNewsVirginia

EquityPlus Arranges $16M Bond Financing for Renovations to Shockoe Hill Senior Apartments in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — EquityPlus LLC has successfully sold $16 million in bonds issued by the Richmond Redevelopment & Housing Authority. Proceeds from the bond sale will finance renovations to the Shockoe Hill Senior Apartments, an affordable seniors housing complex owned by Capital Realty Group in Richmond. The financing will also fund a new community wellness center for its residents. The bonds were purchased in their entirety by Cedar Rapids Bank & Trust of Iowa ($10.5 million) and Capital Realty Group ($5.5 million). EquityPlus identified the buyers, coordinated closing and will …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingCaliforniaDevelopmentNews

AO Completes 419-Unit Metro East Senior Park Apartments in Santa Ana, California

by Jeff Shaw

SANTA ANA, Calif. — AO, an architectural services firm, has completed Metro East Senior Park Apartments, a six-story, 461,535 square-foot affordable seniors housing community that borders the cities of Santa Ana and Tustin. Designed for developers AMG, The Pacific Cos. and Jamboree Housing Corp., the community comprises 419 residential units with a mix of studio, one- and two-bedroom apartments with floor plans ranging from 402 to 821 square feet. “We’re breathing new life into Santa Ana’s Metro East mixed-use zone with a senior affordable housing community,” says Ed Cadavona, partner …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingDevelopmentNewsOhio

Evergreen Acquires Affordable Community in Downtown Cleveland, Plans $18M Historic Renovation

by Jeff Shaw

CLEVELAND —Evergreen Real Estate Group has acquired Carter Manor Apartments, an affordable seniors housing community in downtown Cleveland, for an undisclosed price. Evergreen plans to update the 270-unit apartment tower through an $18 million capital improvement program that will preserve the building’s historic facade and restore other original design elements. The 11-story property comprises a mix of 33 studio, 209 one-bedroom and 28 two-bedroom apartments, all of which will be preserved as affordable housing for seniors and disabled individuals. Evergreen will both own and manage the community. Designed by architect …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMarylandNews

Reid Community Development Corp. Completes Affordable Community in Glenn Dale, Maryland

by Jeff Shaw

GLENN DALE, Md. — The Reid Temple African Methodist Episcopal Church, Reid Community Development Corp., UrbanMatters Development Partners LLC and Atlantic Pacific Communities have announced a virtual ribbon cutting to be held May 19 at Woodlands at Reid Temple, an affordable seniors housing community in Glenn Dale. Located between Baltimore and Washington, D.C., construction on the 252-unit community began in 2019. Maryland’s Community Development Administration provided financing for the project through its Risk Share loan program, while PNC Bank participated as the bridge lender and tax credit equity partner. The …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingCaliforniaDevelopmentNews

Century Housing Opens 160-Unit The Beacon Affordable Community in Long Beach, California

by Jeff Shaw

LONG BEACH, Calif. — Century Housing, in partnership with the City of Long Beach and The Long Beach Community Investment Company, will host a grand opening May 7 at The Beacon, an affordable housing community for seniors and veterans in Long Beach, just south of Los Angeles. “There’s no denying that this past year has been a very difficult and painful year on many, many levels,” says Brian D’Andrea, senior vice president with Century. “This development represents a source of light and hope for all of us, including the more …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentIndependent LivingNewsTexas

The Montrose Center Opens $26.5M LGBTQ-Friendly Affordable Independent Living Community in Houston

by Jeff Shaw

HOUSTON — The Montrose Center has opened the doors on the Law Harrington Senior Living Center, an independent living community in Houston’s historic Third Ward. The community features 112 units available to residents 62 or older meeting mximum income requirements. The programming is specifically designed to appeal to LGBTQ seniors, making it the largest community of its kind in the United States and the first in Texas, according to Montrose Center. Development costs are estimated at $26.5 million. A ribbon-cutting ceremony will be held in June. Legacy Community Health will …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts