RIDLEY TOWNSHIP, Pa. — Pennrose, the Delaware County Housing Authority (DCHA), The County of Delaware and the Pennsylvania Housing Finance Agency (PHFA) have closed on financing for the final phase of the Kinder Park redevelopment in Ridley Township, near the Philadelphia International Airport. Phase IV will add 96 units of affordable seniors housing to the Kinder Park site, which already features 160 existing affordable apartments for seniors and individuals with disabilities, 154 townhomes, a community building and several community parks. The final phase is slated for completion in the spring …
Affordable Housing
B’nai B’rith Housing Completes Second Phase of The Coolidge at Sudbury Affordable Community in Massachusetts
by Jeff Shaw
SUDBURY, Mass. — B’nai B’rith Housing has completed Phase II of construction at The Coolidge of Sudbury, an affordable housing community for seniors in Sudbury, located midway between Boston and Worcester. The project added 56 new units to the project, bringing the total number of units to 120. The rental apartments have one bedroom and are between 675 and 700 square feet. The new building includes common space and amenities, including a meeting room, library, fitness center and offices for a property manager and a resident service coordinator. Prior to …
RICHMOND, Va. — Enterprise Community Development has completed construction of The Rosa, an affordable seniors housing community in Richmond’s historic Jackson Ward neighborhood. Partners on the project include the City of Richmond, the Richmond Redevelopment & Housing Authority, Virginia Housing, the Federal Home Loan Bank, the U.S. Department of Housing and Urban Development (HUD), Truist, Enterprise Housing Credit Investments, and the Virginia Department of Housing and Community Development. The four-story building features 82 mixed-income apartments, including 36 affordable units designated for workforce housing. It is named after the school for …
NEW YORK CITY — RKTB Architects has been selected as the designer of Catholic Charities Loreto Apartments, an affordable seniors housing community in Brooklyn. The property will feature 135 units, including 80 for formerly homeless seniors. The remainder of the units is reserved for seniors making up to 50 percent of the area median income. The new development will be constructed on the former site of a historic Brownsville church. A timeline for development was not released.
Colliers Arranges $94M Sale of Affordable Seniors Housing Property in East Orange, New Jersey
by Jeff Shaw
EAST ORANGE, N.J. — Colliers International has arranged the $94 million sale of Norman Towers, a Section 8 seniors housing project located in the Newark suburb of East Orange. The 405-unit property has not been renovated since its original construction in 1980. Colliers represented the seller, Squiretown Properties LLC, in the transaction. The buyer was a partnership between Community Preservation Partners and L+M Development Partners. The property’s affordability status, which was set to expire in 10 years, has now been extended for 30 years as part of the purchase agreement. …
Lupe Development Partners, Ecumen to Develop 118-Unit Affordable Seniors Housing Community in Edina, Minnesota
by Jeff Shaw
EDINA, Minn. — The Edina Housing Foundation has selected Lupe Development Partners and Ecumen to develop 118 units of affordable seniors housing in Edina. The project will be built on a parcel of land near Southdale Mall that the foundation owns. With rents ranging from $650 to $1,600, the proposed development will be affordable to seniors with household annual incomes ranging from $22,000 to $58,000. Ecumen will manage the property upon completion. The project team will work with the City of Edina to develop public art and community programing components. …
PENSACOLA, FLA. — The Paces Foundation has opened Brownsville Manor, an affordable housing community for seniors in Pensacola. The property offers 88 one- and two-bedroom units and is over 80 percent leased. Brownsville Manor is the second affordable housing community that The Paces Foundation has built for seniors in Pensacola. The first, Fairfield Manor, was awarded a LEED Platinum certification and opened five years ago.
STERLING, Va. — Avanath Capital Management has acquired Cascades Village, a 150-unit affordable seniors housing community in the Washington, D.C. suburb of Sterling, for $27.2 million. “Avanath was attracted to Sterling because home pricing and existing market-rate product in the market are unaffordable to lower income renters, resulting in a significant demand for affordable rental units in the area,” says John Williams, president and chief investment officer of Avanath Capital Management. “Cascades Village is located only 2.5 miles away from our affordable community, Acclaim at Sterling, and this proximity will …
TITUSVILLE, Fla. — Housing Trust Group (HTG) has completed construction of Luna Trails, a $19.6 million, 86-unit affordable housing development for seniors in Titusville, along Florida’s Space Coast region. Apartments are reserved for seniors ages 55 and older earning at or below 60 percent of area median income (AMI). Rents range from $346 per month for a one-bedroom apartment to $791 per month for a three-bedroom apartment. The property is currently 100 percent leased. “This is HTG’s first development in Brevard County and therefore marks an important milestone for our …
BOSTON — DiMella Shaffer, a Boston-based architecture firm, has completed design work on Grace Apartments, an affordable seniors housing development located in East Boston, and construction of the project has begun. Developed by the East Boston Community Development Corporation (EBCDC) and Affirmative Investments, Grace Apartments will feature 42 residential units for low-income seniors within a new seven-story structure in Maverick Square. Like many cities across the nation, Boston is facing an increasingly acute housing crisis with soaring rents and slender supply, leaving the city’s seniors with limited options, according to …