Member News
WinnDevelopment Completes $29.3 Million Project Modernizing 108 Units of Affordable Housing in Providence
WinnDevelopment, the development arm of WinnCompanies, announced the completion of a $29.3 million project to preserve and renovate 17 townhouse-style buildings at Lockwood Plaza Apartments in Providence, RI, as part of a deal that also extended affordability guarantees for 40 years. Providence Mayor Brett P. Smiley, Councilwoman May Kay Harris, Alyssa McDermott, director of the […]
Pennrose and Mercy Care Break Ground on McAuley Station Phase II
Pennrose, Mercy Care, and project partners celebrated the groundbreaking of McAuley Station Phase II, the next step in the visionary mixed-income, mixed-use McAuley Station master plan. The second phase will add 97 high-quality, affordable apartments for residents aged 55 and older adjacent to the Mercy Care campus in the Sweet Auburn neighborhood of Atlanta. The […]
Merchants Capital Secures $152M+ in Total Financing for 315-Unit Affordable Housing Development in Columbus, Ohio
Merchants Capital announced $152.3 million in total financing for The Aries Lofts, a 315-unit affordable housing community in Columbus, Ohio developed by LDG Development, LLC. Merchants Capital secured a $42.7 million Freddie Mac Forward TEL permanent loan, a $60 million tax-exempt construction loan, and an $8 million equity bridge loan provided by Merchants Bank. As the […]
Lument Closes $27 Million FHA Refinance for Affordable Housing Community in Boston
Lument announced the closing of a $27 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Section 223(f) loan to refinance East Canton Street Apartments, an 80-unit affordable multifamily community with four five-story buildings constructed in the late 1800s in Boston. Originally built in 1874 and 1892, East Canton Apartments is […]
Wakeland Housing’s ‘Serenade on 43rd’ Opens in San Diego’s City Heights
Developed by local nonprofits Wakeland Housing and Housing Innovation Partners (HIP), housing advocates and local leaders joined together to open doors at Serenade on 43rd, a new affordable housing community in San Diego’s City Heights neighborhood. The $40 million development transformed a 0.68-acre site into a unified community of 65 affordable homes, combining 45 new apartments with the rehabilitation […]
Pennrose’s Golden Hill Apartments Transform Vacant Former Ulster County Jail Site
Governor Kathy Hochul announced completion of Golden Hill Apartments, a 164-unit affordable housing development in the city of Kingston. The $87 million project, bolstered by a $10 million award from the inaugural round of Governor Hochul’s Mid-Hudson Momentum Fund, is built on a 20-acre site that was formerly the Ulster County Jail. The all-electric development […]
KeyBank Provides $72.8 Million for New Affordable Senior Housing in Atlanta
KeyBank Community Lending and Investment (CDLI) provided a total of $72.8 million in financing for the first redevelopment phase and new construction of the Atlanta Civic Center, a 148-unit affordable senior housing project in Atlanta. KeyBank CDLI provided a $39.1 million taxable construction loan as well as a $25.2 million in federal Low Income Housing […]
Pennrose and Housing Commission of Talbot Celebrate Doverbrook Apartments Grand Opening
Pennrose and the Housing Commission of Talbot (HCT) celebrated the grand opening of Doverbrook Apartments, bringing 64 brand-new affordable homes and community amenities to the town of Easton, Maryland. The energy-efficient, mixed-income community replaces the 40-year-old, 50-unit public housing community on Dover Street. Doverbrook Apartments is 100% affordable, with all units available at 30% to […]
Woda Cooper and Keweenaw Bay Indian Community open Black Rock Crossing in Marquette, MI
Woda Cooper Companies, Inc. (Woda Cooper) and the Keweenaw Bay Indian Community (KBIC) hosted a Grand Opening and Ribbon-cutting ceremony to celebrate the opening of Black Rock Crossing, 1506 W. Ridge Street, Marquette, MI. The City of Marquette provided strong support for Black Rock Crossing to expand housing options for low- and moderate-income residents, including KBIC tribal members and their descendants. The […]
Woda Cooper Companies and Parallel Housing Inc. Celebrate the Groundbreaking at Timber Ridge Apartments
Woda Cooper Companies, Inc. (Woda Cooper) and co-developer, nonprofit Parallel Housing, Inc., hosted a groundbreaking ceremony for Timber Ridge, a new 52-unit affordable housing community for senior residents aged 62 and older with units targeted for renters at a mix of incomes up to 40% to 60% of the area median income. Timber Ridge is located at […]
WinnDevelopment and Soldier On Break Ground on $29 Million of Affordable Housing for Senior Veterans
State, county and local New Jersey officials joined with executives from WinnDevelopment and the non-profit Soldier On, Inc., to mark the start of work on an 84-unit apartment community in West Deptford, NJ, that will deliver affordable housing and comprehensive supportive services for older veterans of the U.S. Armed Forces. The $29 million development, to […]
Merchants Capital Secures $56M+ in Total Financing for 232-Unit Affordable Housing Development in Fishers, Ind.
Merchants Capital announced more than $56 million in total financing for the acquisition and substantial rehabilitation of Cumberland Crossing, a 232-unit affordable housing development in Fishers, Ind. developed by Birge & Held. The resyndication of tax credits will extend Cumberland Crossing’s affordability period for an additional 30 years, with rent restrictions for half of the […]