Member News
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 […]
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 […]
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 […]
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.
Woda Cooper led a development team to select the Lofts at 40 Long to restore the YMCA building located in the heart of Downtown Columbus.
Downtown Columbus, Inc. spearheaded this exciting transformation; the $65.7 million redevelopment will convert the 235,118 square foot building into 121 modern housing units, including one studio apartment, 72 one-bedroom units, 38 two-bedroom units, and 10 three-bedroom units.
Pennrose Closes Acquisition of Historic Warner and Swasey Building, Advancing Major Mixed-Income Redevelopment in Cleveland’s MidTown
Pennrose announced the acquisition of the historic Warner and Swasey building in Cleveland’s MidTown neighborhood. The acquisition advances the transformation of the 194,000-square-foot former manufacturing facility, which has stood vacant since 1985, into approximately 140 residential units ranging from studios to three-bedroom apartments, along with up to 22,000 square feet of commercial space. The adaptive […]
KeyBank Provides $25.9M Loan for Affordable Housing Development in Compton, California
KeyBank Community Development Lending and Investment provided a $25.9 million loan to finance construction of an affordable housing development in Compton, CA. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community consisting of studios and one- and two-bedroom units, all of which will be rent restricted at […]
National, State and Local Leaders Mark the Ten-Year Anniversary of Jordan Downs Development, Chart Final Phase
Jordan Downs residents joined with the Housing Authority of the City of Los Angeles (HACLA), and partners The Michaels Organization, BRIDGE Housing, Primestor, and nearly 30 federal, state and local leaders to commemorate a decade of revitalization at Jordan Downs. This first 10-years of development has brought $664 million in new investment to Watts resulting in the construction of […]
Oliver Station Honored with Governor’s Excellence in Housing Development Award
The Michaels Organization is proud to announce that Oliver Station, its newest transformative mixed-use community in Camden’s Whitman Park neighborhood, has been awarded the Governor’s Excellence in Housing Development Award. The $24 million community features 47 affordable apartments for residents ages 55 and older and a 5,350-square-foot Virtua Health medical practice on the ground floor, […]