Joint Venture to Develop $44 Million Affordable Housing Project for Homeless Families in Charleston, SC
A new $44 million, 87-unit affordable housing project in Charleston, S.C., is set to rise soon, which will be developed by a joint venture of The Michaels Organization, Spandrel Development, and One80 Place. The six-story complex aims to serve homeless families and...
$22 Million Financing Closed by MassHousing for 61 New Affordable Rental Units in Salem
With the closing of $22 million in financing by MassHousing, North Shore Community Development Coalition (NSCDC) is moving forward with the redevelopment of two former school buildings in Salem into 61 affordable rental units, with the funding package consisting of...
Brookdale Senior Living Expands Portfolio with $610 Million Acquisition of 41 Leased Communities
Brookdale Senior Living is set to acquire 41 leased communities for $610 million, totaling 2,789 units. The deal will be funded through debt, convertible notes, and mortgage financing, with financing led by Deerfield Management, positioning the company for long-term...
$56 Million Affordable Housing Development Announced in Kalamazoo
Residents of Kalamazoo are getting a new $56 million affordable housing development called River’s Edge, a joint venture between Standard Communities, River Caddis Development, the Michigan State Housing Development Authority, Kalamazoo County, and the city of...
HUD Sets New Guidelines for 2025 Low-Income Housing Tax Credit Program
HUD has recently unveiled the 2025 parameters for Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs) for the Low-Income Housing Tax Credit program, which were published in the Federal Register. HUD sets these guidelines for designated areas in each...
WinnCompanies Begins $51 Million Renovation of Worcester Boys Club into Affordable Senior Housing
The transformation of the historic Worcester Boys Club into 80 senior housing apartments in Worcester, Massachusetts, has already started, as announced by WinnCompanies last week. The $51 million project will renovate the 94-year-old building to create 16 affordable...
California Awards $789.8 Million for New Affordable Housing
In a announcement by Governor Gavin Newsom, 24 housing and sustainable projects across California will be getting a share of $789.8 million in cap-and-trade funds made through Affordable Housing and Sustainable Communities (AHSC) program. This award will be used to...
Los Angeles Pays $38.2 Million Settlement For False Accessibility Claims in Affordable Housing
The City of Los Angeles has recently agreed to pay $38.2 million to settle a lawsuit filed by the U.S. Department of Justice, alleging that the city violated the False Claims Act by falsely certifying its multifamily affordable housing units as accessible to people...
San Francisco Pulls $20 Billion Affordable Housing Bond From November Ballot
In a sudden turn of events, two months after the board of the Bay Area Housing Finance Authority voted to place a $20 billion affordable housing bond on this year's ballot, the board this week unanimously decided to pull the measure from the November ballot. The...
Massachusetts Gov Signs $5.16 Billion Affordable Homes Act
In a historic move this month, Massachusetts signed into law the Affordable Homes Act, investing $5.16 billion in bond authorizations and tax credits to combat the housing crisis across the state. This landmark legislation is the largest investment in housing in the...