All posts by Mark Fogarty

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The COVID Housing Economy

The long arm of the COVID pandemic is not only disrupting 2020 performance in the tax credit industry, but it may have a further impact even after the virus is brought under control.

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What Makes the Right Location for Development?

It’s rare that a site for a housing development is perfect. Besides the constraints of working with existing lots that are often less than ideal, there are many other factors in play: zoning, soil conditions, solar orientation, ease of entry and access to transportation and amenities, just to name a few. In general, though, there are a few handy tips that can help developers and architects seek out a good site for affordable housing.

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Case Study: A New Housing Source for New Americans

The state of Vermont is on track to see its first New Markets Tax Credit (NMTC) deal that will finance homeownership-only units. And that first project, planned to be developed by a local community land trust, will target an unusual and specialized population: refugees who have been resettled into the state’s largest city, Burlington.

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Design Trends for Seniors

While the COVID-19 pandemic has hit senior housing so recently that post-COVID design has yet to fully materialize, what seems likely is that new congregate living projects will be more compartmentalized to cordon off seniors and their families and visitors in the public and semi-public areas of their residences.

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Case Study: First RAD for PRAC Deal Closes

Hopeton Terrace in Chillicothe, OH, the first senior housing project to benefit from a RAD for PRAC rehab deal, may soon have a lot of company. According to officials at the Department of Housing and Urban Development, HUD has seven more such deals currently being underwritten and has received a total of 180 applications to take part in the new program.

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Case Study: Rebuilding a Historic Structure That Has Good Bones

The Pittsburgh Athletic Association building, more than a century old, has been called a structure with good bones, gracious and elegant. Presidents have spoken there. Stately weddings have been held within. There was a two-story swimming pool on its third floor. Now, after years of deterioration, Historic Tax Credits (HTC) are being used to bring it back to its old grandeur.

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Case Study: Sturdy Tower, Surrounding Buildings Making More History

The Merchants National Bank building in Mobile, AL, has experienced many obstacles since its opening in 1929. For example, the 1929 market crash occurred within weeks of opening, it is currently relaunching through the extensive disruption of a pandemic and has weathered dozens of hurricanes in its nearly 100 years of existence. The $45 million rehab is trying to ensure this historic building and the buildings that surround it can endure for another century.

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Affordable Housing in God’s Backyard

Apparently God, at least, doesn’t mind having low-income neighbors. That’s the implication of a new initiative called YIGBY (Yes in God’s Back Yard), which is using church land to build affordable housing while getting around the usual litanies of NIMBY objections.

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