Member News
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 […]
Woda Cooper Companies, Inc. Held Ribbon Cutting held at Alley Landing, 40 affordable rental homes, including eight units prioritized for homeless veterans
Woda Cooper Companies, Inc. (Woda Cooper) hosted a Grand Opening and Ribbon-cutting ceremony to celebrate the opening of Alley Landing, 2715 Douglas Avenue, Des Moines. Alley Landing is a new affordable housing community constructed on the site where the beloved Plaza Lanes bowling alley once stood. The City of Des Moines provided strong support for Alley Landing to expand housing […]
KeyBank Provides $66M of Construction Financing for Affordable Housing in Lafayette, IN
KeyBank Community Development Lending and Investment (CDLI) provided a $37.2 million construction loan, and Key Commercial Mortgage Group arranged a $28.8 million permanent loan to finance the new construction of Vita Lifestyle – Lafayette, a 198-unit affordable housing project located in Lafayette, Indiana. Vita Investment Holdings, LLC has partnered with CRF Affordable Housing, Inc. to […]
Churchill Stateside Group Provides $31,054,000 FHA/HUD 221(d)(4) Construction Loan for Adaptive Reuse of Historic Textile Mill into Market Rate Community in Aiken, South Carolina
Churchill Stateside Group, LLC , a real estate and renewable energy financial services company, announced the closing of a $31,054,000 FHA 221(d)(4) Construction Advance Loan to finance Vaucluse Mill Lofts, a 140-unit adaptive reuse and historic substantial rehabilitation project located in Aiken, South Carolina. The FHA 221(d)(4) loan, insured by HUD, provides long-term, fixed-rate financing […]
Pennrose Kicks Off Neumann North Affordable Housing Revitalization
Pennrose and project partners today celebrated the start of the Neumann North revitalization, a $20 million initiative to preserve and improve the 67-unit affordable senior housing community in the Fishtown neighborhood of Philadelphia. The rehabilitation is expected to be completed in Q1 of 2027. Neumann North was originally developed in 2006 as an adaptive reuse […]
R4 Capital Closes $43.6M in Funding for Redbud Reserve, a 192-unit apartment complex with a Tornado Shelter On-Site
R4 Capital closed $43.6M in funding for Redbud Reserve, a 192-unit apartment complex just 10 miles west of Downtown Kansas City. All units are restricted to families earning between 50%-60% AMI, encompassing 60 one-bedroom, 60 two-bedroom, and 72 three-bedroom units. To address unpredictable weather patterns, the site will also include a fully functioning tornado shelter for […]
Dr. Janel Field Joins Pennrose as Director of Talent Development
With more than 15 years’ experience in organizational development, leadership effectiveness, and talent strategy, Field will lead Pennrose’s leadership development and succession planning initiatives to ensure business goals are aligned with talent capabilities. She is also responsible for collaborating with Pennrose department leaders to foster a culture of continuous learning and growth across the enterprise.
Pennrose hosts announcement of $36.8 Million investment to create or preserve 1,275 affordable housing units.
Pennrose hosted Maryland Governor Wes Moore to announce a $36.8 Million investment to create or preserve 1,275 affordable housing units. The announcement event was held at the Pennrose transit-oriented development project at Capitol Heights Metro Station, one of the projects selected for funding, and will create 146 affordable rental units in Prince George’s County.