Hunt Capital Partners announced the closing of $3.6 million in federal low-income housing tax credit equity financing for the acquisition and rehabilitation of Sagebrush Place II, formerly known as Centennial Park. Located on a 2.2-acre site in the heart of Reno, Nev., Sagebrush Place II was originally constructed in 1970, renovated in 2007 with LIHTC […]
Dominium announced that it has acquired Willow Creek Apartments in Mount Juliet, TN, a 144-unit affordable housing development built in 1997. Dominium is committed to keeping Willow Creek Apartments an affordable housing development and is planning a $1.8 million renovation of the property. Willow Creek is Dominium’s ninth development in Tennessee and expands the company’s […]
Mary Grace Folwell—an affordable housing lawyer who has worked in private practice, as well as counsel for a housing authority and general counsel for a national property management company—has rejoined Ballard Spahr’s Real Estate Department in the firm’s Washington, D.C. office. Folwell was a lawyer at Ballard Spahr for ten years and has served as […]
Fairstead and LIHC Investment Group announced a new ground-up development proposal for a mixed-income building at Essex Plaza in Newark, NJ. The six-story, 365,000-square-foot proposed development would consist of 241 residential apartments, ground-floor commercial and amenity space and underground parking. The development would be built as part of New Jersey’s Clean Energy Program, taking a […]
Dominium announced today the closing of the land sale for its tenth new affordable housing development in the state of Georgia. Located in unincorporated DeKalb County, The Meridian will provide 217 affordable apartment homes to the Atlanta metropolitan area once constructed. Development Partners for The Meridian include Winthrop & Weinstine, Kutak Rock, Commercial Partners Title, […]
Rockport Mortgage of Gloucester, MA, announced the closing of a $42.4 million, HUD Section 223(f) refinance loan in Lowell, MA. The transaction will preserve affordability at the rental housing development for 39 years. Market Mill Apartments is a 230-unit affordable housing community serving seniors and families located at 246 and 256 Market Street. The development, […]
September is always a busy month in DC, but this year is shaping up to be exceptionally so.
The federal eviction moratorium will expire on Saturday, July 31. On-going state and local eviction moratoriums may still apply to your residents/properties. Last week, the White House held an eviction prevention progress report webinar. The full recording is available here and a summary is available here. The Department of the Treasury released slides on the Emergency Rental Assistance Program, as well as slides detailing Consumer Financial Protection Bureau resources made available through their Housing Insecurity campaign.
HUD’s Office of Affordable Housing Programs (OAHP) is hosting a webinar series to assist communities in planning for their allocation of HOME-American Rescue Plan (ARP) funding in advance of HUD publishing an implementing notice for the program.
The California Department of Housing and Community Development (HCD) released the Round 4 Multifamily Housing Program (MHP) July 2021 Notice of Funding Availability (NOFA) for approximately $220 million. Applications are due by September 20 at 5 p.m. PT. HCD will hold virtual NOFA workshops, which offer participants the opportunity to hear an overview of the NOFA and any updates that have developed since the third round in July 2020.
The California Department of Housing and Community Development (HCD) posted the Infill Infrastructure Grant (IIG) program Round 7 Applications received and self-scores list. The information was provided by applicants and has not yet been verified by HCD.
The Colorado Housing and Finance Authority (CHFA) issued a Request for Proposal (RFP) for an organization to conduct a quarterly survey of multifamily properties and to consult with CHFA regarding the data analysis and results. Select markets to be surveyed are listed in the RFP. Responses to the RFP must be received by CHFA no later than 5 p.m. MT on August 18 to Kristi Budish.