Industry News

Connecticut Extends COVID-19 Financial Relief Available for Multifamily Borrowers through End of Year

The Connecticut Housing Finance Agency (CHFA) extended the COVID-19 multifamily financial relief period through December 31, 2020. Any mortgagor of a multifamily rental housing development in CHFA’s portfolio experiencing financial distress due to COVID-19, beyond the financial ability of the mortgagor to correct or mitigate, may contact CHFA to request its assistance. For more information, […]

House Passes Infrastructure Bill

Last week the House of Representatives passed a $1.5 trillion infrastructure package (H.R. 2), which includes several housing provisions. A summary of the housing provisions in the bill can be found here. The measure passed by a vote of 233 to 188, with three Republicans crossing party lines to support it and two Democrats breaking […]

House Appropriations Committee Passes FY-2021 HUD Funding Measure

On June 7, 2020 the House Appropriations Committee released its draft fiscal year 2021 Transportation, Housing and Urban Development, and Related Agencies funding bill. The measure was adopted by the Subcommittee on July 8, 2020.  The measure heads next to the Full Committee for an additional markup.  The bill provides a total of $50.6 billion […]

Member News

Pennrose Closes Combined Historic Renovation / New Construction Project in Auburn, MA

Pennrose has closed on financing for the 1.25-acre parcel and started construction on the 3-story 1920s era historic Mary D. Stone school building.  The redevelopment plan includes the renovation of the historic school, demolition of later built wings, and construction of a new addition.

Woda Cooper Companies Begins Construction on 20th Community in Pennsylvania

Woda Cooper Companies, Inc. has closed financing and is commencing construction on its 20th  development in Pennsylvania. The new 56-unit townhome development called Kellinger Greene was awarded Low Income Housing Tax Credits by the Pennsylvania Housing Finance Agency (PHFA) in 2019 and is being financed with a construction loan from Park National Bank, permanent financing from PHFA and York County HOME Loan Program, and tax credit equity from CREA.

Citi Community Capital Names Barry Krinsky New National Production Manager

Mark Dean, Citi Community Capital’s national production manager has retired after a 36-year career in financial services, including 22 years with Citi Community Capital (CCC). Barry Krinsky, an affordable housing finance veteran, stepped into the national production manager’s role on June 1