Member News
Three Developers Selected to Participate in Indiana’s Moving Forward Rural Development Program
The Indiana Housing and Community Development Authority (IHCDA) announced that Biggs Development, Justice Property Management & Greystone Affordable Development and Woda Cooper Companies were selected to participate in the Moving Forward Rural Development (RD) Program. IHCDA, in partnership with Energy Systems Network (ESN), will work with these three groups to take on the challenge to preserve a minimum of 30 USDA Rural Development (RD) properties.
“Faster, Better, More: Promising Construction and Technology Approaches for Accelerated and Efficient Affordable Housing Development”
A new paper, prepared for BRIDGE Housing by Stewards of Affordable Housing for the Future (SAHF), focuses on available technologies and strategies that can impact materials and labor costs. The paper explores the benefits, potential cost savings, challenges and considerations of techniques such as offsite construction, including panelized systems, complete modules and hybrid typologies.
LISC Publishes Opportunity Zone Playbook
Local Initiative Support Corporation (LISC) recently published Navigating the Opportunity Zones: Community Partners, the first installment of LISC’s Opportunity Zones Playbook series.Forthcoming playbooks will be targeted to impact investors and impact developers looking to harness the Opportunity Zones incentive and create positive change in America’s urban and rural communities.
RBCCM’s Tax Credit Equity Group Closes $116 Million National Fund
RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-29 with total tax credit equity of $116,012,401. The Fund consists of $110.4 million of LIHTC equity and $5.6 million of Georgia State LIHTC equity.
Bellwether Enterprise Closes $115 Million in Financing for 12 Affordable Housing Communities across the Southeast
Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., announced the closing of $115,000,000 in financing to enable Atlantic Housing Foundation, Inc. to purchase 12 affordable housing communities across South Carolina, North Carolina, Virginia, Georgia, and Florida.
Tiber Hudson welcomes Krista North and Matthew Grant
Tiber Hudson added two new staff members: Krista North and Matthew Grant. Matthew focuses his career on real estate and transactional finance, and primarily the affordable housing and tax credit industry. Krista North represents lenders and borrowers in commercial real estate transactions, with a concentration on affordable housing and community development finance.
Pennrose Serves as Development Partner for Winning $30 Million HUD Choice Neighborhood Application
The City of Newport News, VA and the Newport News Redevelopment and Housing Authority are the recipients of a $30 million grant from HUD’s FY 2018 Choice Neighborhoods Initiative (CNI) Awards. Pennrose and the Newport News Redevelopment and Housing Authority will replace Ridley Place’s 259 public housing units, as well as create 133 moderate-income housing units and 98 market rate units.
LISC names Annie Donovan as new COO
The Local Initiatives Support Corporation (LISC) announced Annie Donovan, former director of the federal Community Development Financial Institutions Fund (CDFI Fund), as its new chief operating officer.
CohnReznick names David Kessler as new CEO
The partners and principals of CohnReznick announced David Kessler the next Chief Executive Officer. David will officially take office on February 1, 2020 when current CEO Frank Longobardi completes his term.
CDFI Fund Announces $3.5 Billion in New Markets Tax Credits
Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits (NMTC) for 73 Community Development Entities (CDEs). Congratulations to the ten NH&RA members that received NMTC awards!
Freddie Mac Multifamily Names Four Vice Presidents
Freddie Mac Multifamily announced four vice presidents: Geri Borger Urgo is now vice president, production & sales, overseeing the Southeast and Northeast regions. Michael Case is now vice president, multifamily capital markets, overseeing all multifamily loan pricing functions. Catherine Evans is now vice president, Small Balance Loan (SBL) underwriting, overseeing the SBL underwriting team. Amanda Nunnink is now vice president, Multifamily investor relations, leading the team that markets the multifamily securities platform.
Woda Cooper Companies Opens Senior Community Featuring Energy-Efficient Passive House Design
Woda Cooper hosted a grand opening and ribbon-cutting on May 15, 2019 for its new Muncy Greene development. The $13.8 million development features 60 single-level apartments that are geared towards low-income seniors. It is one of the first multifamily properties in Pennsylvania to be built to Passive House Institute US certification standards to ensure energy efficiency and low heating and cooling cost.