Member News
The Architectural Team Names Thomas Schultz as New Managing Principal
The Architectural Team (TAT) announced the elevation of principal and longtime leadership team member Thomas Schultz, AIA, NCARB, CPHC to the official role of managing principal. During his 23 years at TAT, Schultz has developed a reputation as both an influential designer and an adept leader who exemplifies the firm’s mission of creating more vibrant, livable cities and […]
Merchants Capital Secures $74M+ in Debt and $16M+ in Equity Financing for Workforce Housing Development in Wyoming, Mich.
Merchants Capital announced $74.1 million in debt and $16.7 million in low-income housing tax credit (LIHTC) equity financing for HōM Flats at 28 West Phase 3, a new mixed-use, mixed-income workforce housing development in Wyoming, Michigan, developed by Magnus Capital Partners. Merchants Capital secured a $30.6 million Freddie Mac 4% unfunded forward tax-exempt loan (TEL), $16.7 million in 4% LIHTC equity financing and a $43.5 million construction bridge loan provided by Merchants Bank […]
AAMCI – Development, LLC announced the acquisition of Eastwood Manor, in Chattanooga, Tennessee, a 98-unit property built in 1977 with 100% PBRA.
A $8.4 million rehabilitation will be completed in 2026.
Dominium to Host Groundbreaking Event for Cobia Cove, a New Construction Project in Holiday, Florida
Dominium announced it will celebrate the groundbreaking for the Cobia Cove affordable housing development in Holiday, Florida on Thursday, December 11. At the end of 2024, Dominium shared they had acquired this land. Once completed, Cobia Cove will provide 228 high-quality homes for families in the City of Holiday and the broader Tampa Bay metro. The development will be constructed by WD Construction and will include […]
Cinnaire Lending Awarded $5.9 million in Affordable Housing Program (AHP) General Fund Subsidies by FHLBank Chicago
Cinnaire Lending was awarded $5.9 million in Affordable Housing Program (AHP) General Fund subsidies by the Federal Home Loan Bank of Chicago (FHLBank Chicago) to support the development of 137 affordable housing units across Wisconsin. These grants will help finance the acquisition and new construction of three projects in Manitowoc, Hudson, and Somerset—each designed to expand housing […]
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 […]