Bendix Anderson Author Archives

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Have you ever considered spending your later years living amongst people with whom you shared a profession? Think of the great stories you can tell over dinner to sincerely interested listeners. After all, nostalgia is a favorite pastime.

Three deals over four decades have gradually transformed the historic Westward Ho Hotel complex in Phoenix, Arizona.

At an old U.S. Army site in the Bronx, the Doe Fund Inc. is using millions of dollars from New Markets Tax Credits in a unique attempt to create new lives for New York City’s indigents.

Sandeep Sood didn’t have to wait to replace the rusted, inefficient boiler at Jeffery Parkway – thanks to teamwork between developers, financers and energy experts.
“We were able to invest early in the process rather than later. That allowed us to make really significant changes upfront,” says Sood, project manager for Nautilus Investments at the Preservation Through Energy Efficiency Roadshow, held September 29 in Chicago.

Train bays, affordable housing, market rate apartments and a medical clinic squeeze into the Counting House Lofts, a new community in Lowell, Mass.

The clock started ticking in May 2014, when Preservation of Affordable Housing (POAH), an affordable housing developer with offices in Chicago, signed an agreement to buy Lafayette Terrace, an old, project- based Sec. 8 property on Chicago’s South Side.

The crumbling Worcester Vocational High School loomed over Worcester, Mass. The 117,000-square-foot complex was one of the most prominent abandoned buildings this state’s housing officials had ever seen. Broken, partly boarded-up windows stared out at local landmarks, like the Worcester Art Museum and Worcester Memorial Auditorium, along with several major streets and an elevated highway.

New money from pension funds, life insurance companies and commercial banks is flowing into apartments with affordable rents. These private equity investments in affordable housing are just a trickle so far – but they may soon become a flood.

National Church Residences (NCR) is earning a half-million dollars a year in extra rental income, simply because the nonprofit changed the way it calculates the utility allowances at 25 affordable housing properties.

For more than a century, 3010 Apartments has been home to some of the most vulnerable people in St. Louis, Mo.
The landmark building maintains hints to its history — the community room was once an ornate chapel. Common areas glow with the light from restored stained glass windows. This March, 3010 Apartments began a new life , welcoming residents with a variety of special needs to 58 new, sparkling one-bedroom apartments. This historic restoration is the centerpiece of an expansive effort to restore vitality to the city’s Midtown neighborhood, an effort led by the Salvation Army.

The rehabilitation of Cumberland Arms in Cumberland, Md., mixes housing, historic and energy tax credits. To get the maximum tax credit award, the developers committed to meet tough standards for energy efficiency. That meant creating significant energy cost savings even though energy costs are now low – a challenge that almost derailed the project.

Bodaken was born and raised in Storm Lake, Iowa, studied history at the University of Iowa and received his legal degree from Peoples College of Law in 1979. After 11 years as a Legal Aid lawyer specializing in housing, he was appointed Housing Coordinator-Deputy Mayor for the City of Los Angeles. Under this leadership, the City of Los Angeles dramatically increased its housing funding and created a Housing Department and Housing Commission.