Member News

CBRE announced the recent permanent financing for The Reserve at Juban Lakes, a 132-unit affordable housing property to be built in Denham Springs, LA. Steve Wessler, senior vice president with CBRE, and Jeanne Marie Coronado, vice president with CBRE Affordable Housing, arranged $11.6 million in permanent financing with a 16-year forward rate-locked tax-exempt loan from […]

Citi and its Advisory Council are now soliciting applications for diverse fund managers to each manage $25 to40 million of CRA-qualifying private equity funds, the investment objective of which will be the preservation of affordable multifamily housing across the U.S. 

Nicole Ferreira will be joining Beacon Communities as executive vice president of development in New York. Ferreira served as the senior vice president of multifamily finance & development at the New York State Division of Homes and Community Renewal (HCR), where she managed the agency’s multifamily finance teams.

Novogradac announced Jan. 4 the elevation to partner of George Barlow Jr. and Rob Bryant from the Dover, Ohio, office; Chris Key from the Atlanta office; Brent Parker from the Long Beach, CA, office; and Lindsey Sutton from the Austin, TX, office. 

Pennrose announced the promotion of Patrick Stewart to regional vice president of the Maryland Region. Stewart will assume responsibilities for the region following the recently announced promotion of Ivy Dench-Carter to Senior Vice President for Development. 

Pennrose, LLC announced the promotion of Amon Martin to regional vice president of the southeast region effective Jan. 1, 2021 following the retirement of Mark Straub. In a statement, Pennrose said Martin joined Pennrose, LLC in 2016 as senior developer.

National Housing Trust partnered with Leading Age to analyze the QAPs from all 50 states to see how Housing Credit Allocating Agencies use LIHTCs to encourage the production and preservation of affordable housing specifically for older adults. The analysis revealed that:

Seven states have established a set-aside for creating or preserving affordable housing for older adults;
Twenty-seven states award points for creating or preserving affordable housing serving older adults;
Twenty states award points for providing certain features in affordable housing serving older adults; and
Three states provide a basis boost for crating or preserving affordable housing serving older adults.

Enterprise Community Partners, Inc. is launching an important effort in support of preserving rural rental housing throughout the Pacific Northwest. Rural Oregon partners within the Oregon Housing and Community Services (OHCS) funded portfolio and those with connections to affordable multifamily ownership within HUD and the USDA Rural Development portfolio should consider applying to participate.

Enterprise Community Partners Inc. announced Dec. 14 it will take part in a $3.5 billion, five-year initiative to counter racial inequities in housing. Enterprise said it will contribute $10 million in capital to seed a $350 million growth fund to attract an additional $3.1 billion for the Equitable Path Forward initiative.

Herman & Kittle Properties, Inc. announced that it will become Kittle Property Group, Inc. effective Jan. 1, 2021. The company also said it moved its corporate headquarters, purchasing a new, larger office building adjacent to its previous location on the north side of Indianapolis.

Woda Cooper Companies, Inc.’s senior vice president of development, Denis Blackburne, will be honored by the Southface Institute as a recipient of its prestigious Volunteer of the Year award. The award will be presented during the nonprofit’s virtual Winter Solstice event on December 17, 2020.

MassHousing closed on $4.5 million in affordable housing financing to The Community Builders (TCB), for the 53-unit North Commons at Village Hill, a new, affordable and workforce rental housing community being built at the former Northampton State Hospital. All 53 rental homes at the North Commons at Village Hill will be deed-restricted and affordable to residents across a broad range of incomes.