KeyBank Community Development Lending and Investment (CDLI) announced it provided a $39.6 million private placement loan for MVAH Partners, LLC, an affordable housing developer based in West Chester, OH, to develop K Avenue Lofts, a mixed income housing property in Plano, TX.
The five-story building will contain 226 units; 79 percent will be affordable to tenants earning up to 60 percent of area median income and the remaining 21 percent will be market rate.
Merchants Capital announced that it has expanded its executive leadership team with the promotion of Chris Messmann to executive vice president.
Woda Cooper Companies and Cherry Health announced that Michigan State Housing Development Authority has awarded housing tax credits to Shea Ravines, a new $18.2 million 56-unit affordable housing community with 20 Permanent Supportive Housing (PSH) units in Wyoming, MI.
The Community Builders was joined by Mayor Jim Cahill, New Brunswick Housing Authority (NBHA), Middlesex County and the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to celebrate the groundbreaking for Stirlingside Residences, a 53-unit affordable housing community for families in New Brunswick, NJ.
Hunt Capital Partners (HCP) announced the transfer of ownership of Hunter’s Landing and Quail Ridge at Mallard Pointe, a 74-unit affordable housing development in Arab, AL, to Huntsville-based nonprofit Neighborhood Concepts, Inc.