MassDevelopment Issues $45.2M Bond for a Six-Story Affordable Housing in Boston
A $45.2 million tax-exempt bond has been issued by MassDevelopment to support the construction of a six-story, 96-unit affordable housing development, an initiative that is part of Boston's Amory Street redevelopment by the Boston Housing Authority, The Community...
Nevada Governor Pushes Bill That Earmarks $250m to Spur $1 Billion in Affordable Housing
Nevada Gov. Joe Lombardo has unveiled Assembly Bill 540, a housing development bill that allocates $250 million in state funds to help develop over $1 billion in affordable housing projects. The bill aims to support those earning up to 150% of the area median income,...
Philadelphia’s $2 Billion Housing Plan to Create and Protect 30,000 Affordable Homes
Mayor Cherelle Parker recently unveiled a $2 billion housing initiative to build 13,500 new affordable homes and preserve 16,500 existing ones. The initiative, called Housing Opportunities Made Easy (H.O.M.E.), would include programs to assist renters, homeowners, and...
Cleveland, Ohio’s $100 Million Investment Fund to Build 3,000 Affordable Homes Launched
Cleveland is tackling its affordable housing crisis with the launch of the Cleveland Housing Investment Fund (CHIF), aiming to raise $100 million to build between 2,500 and 3,000 affordable homes, including a minimum of 100 units of for-sale housing. This initiative...
$270 Million Boost Aims to Deliver 1,800 Affordable Homes Across New York
In a move to combat the ongoing housing crisis, New York State is making a $270 million investment for the creation of 28 separate housing developments. The funding will be used for the construction and preservation of over 1,800 affordable homes and draws from...
Kansas City, MO Approves Funding for $300 Million Parade Park Homes Redevelopment
More affordable housing units are coming to Kansas City, Missouri, following the passage of an ordinance approving funding for the $300 million redevelopment of Parade Park Homes. The project, led by Flaherty & Collins Properties and Twelfth Street Heritage...
$264 Million Redevelopment to Turn CUNY Dorm into Affordable Housing in East Harlem, NY
An increase in New York’s affordable housing inventory is coming with the announcement of a $264 million project at 1760 Third Avenue in East Harlem, transforming a former CUNY dormitory into 433 affordable units. Backed by state and city funding, the development will...
L+M Development Purchases Affordable Housing in CT for $41 Million, Plans for $17 Million Rehabilitation
L+M Development Partners is planning a $17 million renovation of Laurel Estates, a 276-unit low-income apartment complex in Waterbury, Connecticut, after its subsidiary, Laurel Estates Preservation LLC, successfully purchased the property for $41.25 million. The said...
KeyBank Finances $41.4M Senior Housing Redevelopment of First & Market in Pittsburgh, PA
KeyBank Community Development Lending and Investment provided $27 million in construction loan financing and arranged a $14.4 million permanent loan to transform the First & Market office building into 93 affordable senior housing units in downtown Pittsburgh,...
$141.3 Million Affordable Housing Bond Funding Invested for Oregon Counties
As a response to the housing affordability issues that the residents of Oregon are currently facing, Oregon Housing and Community Services (OHCS) has announced that it is investing over $141.3 million in bond funding which will be used to develop and preserve more...