Member News
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, […]
Stratford Capital Group Announces Closing of Weston Landings Apartments
Stratford Capital Group is pleased to announce the closing of Weston Landings Apartments, a new 64-unit affordable housing development located in Whiteville, North Carolina. All units will be income-restricted to households earning 60% or less of Area Median Income (AMI), with 26 units reserved for households earning 50% or less of AMI.
Lument Closes $10.7 Million Fannie Mae Loan for the Acquisition of Arizona Multifamily Community
Lument announced the closing of a $10.7 million Fannie Mae loan for the acquisition of the Village at Camelot, an 80-unit garden-style multifamily community in Buckeye, Arizona (Maricopa County). Built in 1986, the Village at Camelot consists of five one-story residential buildings and a leasing office.
National Equity Fund closes a $444 Million Preservation Deal
The NEF secured one of the largest single preservation transactions in the history of the affordable housing industry. The $444 million Albuquerque and Portland Portfolio preservation deal that preserves more than 2,700 units, the largest in NEF’s history, supports the owner Guardian Real Estate Services and underscores an innovative, collaborative partnership between two leaders in […]
Pennrose Celebrates Garfield Terrace Phase I Grand Opening and Phase II Groundbreaking
Pennrose, Butler Housing Company, CBC Financial Corp, the City of Phoenix, the Arizona Department of Housing, and project partners gathered to celebrate significant progress on Garfield Terrace, a $57 million, multi-phase development bringing 120 high-quality, affordable senior apartments to Downtown Phoenix’s Garfield Historic District.
Churchill Stateside Group closed a $11 Million Tax-Exempt Construction Loan to finance Canal Crossing
Churchill Stateside Group closed a $11 Million Tax-Exempt Construction Loan to finance Canal Crossing, a 49-unit affordable adaptive re-use, LIHTC senior housing development located in New Orleans, Louisiana. The project involves the adaptive re-use of a historic building, blending affordable housing development with architectural preservation in the heart of New Orleans. Once completed, the property […]
Cinnaire Celebrates Grand Opening of The Mark McDaniel Apartments at Andy’s Place
Permanent Recovery Supportive Housing for Families Cinnaire celebrated the grand opening of The McDaniel Apartments at Andy’s Place II, a major expansion of Michigan’s first Permanent Recovery Supportive Housing (PRSH) initiative. The newly completed development adds 26 affordable apartments and vital recovery services to serve expectant families overcoming opioid addiction. The new phase is named […]
Pennrose Celebrates Grand Opening of Residences at Harper
Pennrose, Mayor Quinton Law, and project partners celebrated the grand opening of Residences at Harper, a 76-unit affordable family housing community in Moorestown, New Jersey. The development is 100% affordable, with all units available at 30% to 60% of the Area Median Income (AMI). Speakers at the grand opening celebration included Noah Freiberg, Senior Developer, […]