Four Wisconsin Tribes Receive $20 Million Grant for Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) has recently announced the four Wisconsin tribes that will receive a portion of the $20 million in federal funding to support affordable housing development in their communities. This financial boost comes...
New Colorado Law Gives Local Governments Right of First Refusal For Affordable Housing Properties
A new Colorado law aimed at preserving the affordability of housing went into effect on August 7, 2024. HB24-1175 grants local governments the right of first refusal to purchase existing subsidized housing properties. With the new law, local governments will be given...
FHLB Dallas Launches CANOPY Fund to Boost Affordable Housing and Economic Development
The Community Advancement through New Opportunities and Partnerships Yielding Results (CANOPY) Fund, which will offer low-cost, unsecured loan funds for terms of up to 10 years, has recently been introduced by the Federal Home Loan Bank of Dallas (FHLB Dallas). CANOPY...
Salt Lake City Affordable Housing Project Receives $64.7 Million Financing Package from KeyBank
Blaser Ventures has secured a $64.7 million financing package from KeyBank Community Development Lending and Investment for the construction of Silos Apartments, a high-rise affordable housing project in Salt Lake City, Utah. The package, facilitated by KeyBank,...
After Proposition 123 Approved by Colorado Voters, Governor Announces Awards to Six Affordable Housing Projects
In line with Colorado voters giving the green light to Proposition 123, an affordable housing initiative that allocates 40% of the State Affordable Housing Fund to the Colorado Affordable Housing Support Fund and 60% to the Colorado Affordable Housing Financing Fund...
Pasadena City Council To Review Housing Legislation, Aiming to Boost Affordable Housing Development
As the state tackles its ongoing housing crisis, the Legislative Policy Committee of Pasadena City Council reviews its housing legislation in hopes of boosting affordable housing development and improving its housing policies. Some of the measures included in the...
Marcus & Millichap Completes the Sale of a $71 Million Affordable Housing Property
Located in San Jose, California, the 160-unit affordable housing complex Moreland Apartments was recently sold for $71 million, or $443,750 per unit, by Marcus & Millichap, a real estate brokerage firm. In its press release, Marcus & Millichap said: On the...
Financing Secured for Affordable Senior Housing Next to Google HQ in Manhattan
Jonathan Rose Companies and Atlas Capital Group have secured financing for 570 Washington Street, a 175-unit affordable senior housing project to be developed next to Google’s headquarters in Hudson Square. Detailing the financing package, 6sqft reported: ...
City of Trenton Receives $15.6 Million Choice Neighborhoods Grant for Redevelopment
The City of Trenton and the Trenton Housing Authority have been awarded a $15.6 million Choice Neighborhoods Grant as announced by President Biden and HUD Acting Secretary Todman. The funding will be allocated towards the improvements and redevelopments to be made at...
Officials Raise Infrastructure Concerns Over NY Gov. Hochul’s Housing Plans
New York Gov. Kathy Hochul plan to increase statewide housing stock would require local communities to meet a certain number of housing unit targets. A 3% housing stock growth goal every three years would apply to downstate cities like Long Island. Parties opposed to...