NYC Targets Unsold Condos, Stalled Projects
UNSOLD CONDOMINIUMS, unrented apartments, and stalled construction sites will be turned into affordable housing under a new program launched by the New York City Department of Housing Preservation and Development (HPD).
HUD May Get More Money
Congress seems poised to approve a fiscal 2010 Department of Housing and Urban Development (HUD) appropriations bill (H.R. 3288) that provides more money for key programs than the Obama administration requested.
CHICAGO The Chicago Housing Authority recently celebrated the re-opening of the Flannery Senior Apartments, which underwent an 18-month, $16 million renovation after a devastating fire.
Henriquez Becomes Assistant Secretary for Public Housing
One of the first tests for Sandra Henriquez and other officials at the Department of Housing and Urban Development (HUD) has been to respond to a critical Sec. 8 funding shortfall in many communities.
Addressing the Changing Landscape
Developers and owners have been hit hard over the last year with a struggling lowincome housing tax credit market and troubled fi- nancial markets.
HUD Dream Team
Shaun Donovan has taken over the Department of Housing and Urban Development (HUD) in the midst of a housing crisis that saw 1.5 million properties fall into foreclosure in the first half of the year, a doubledigit increase from the first six months of 2008.
Frank Drafts Major Preservation Bill
House Financial Services Committee Chairman Barney Frank (D-Mass.), a longtime advocate of preservation as a key element in the nation’s affordable housing strategy, has drafted a comprehensive bill to save the urban and rural low-income housing inventory.
OAKLAND, CALIF.Young adults who have nowhere to go when they age out of the foster-care system have found a home at the Madison at 14th Street Apartments.
BALTIMORE After beginning as a home for a wealthy family, the Margaret Jenkins House served as an orphanage and a school for African-
Report Paints LIHTC Picture
LOW-INCOME HOUSING TAX CREDIT (LIHTC) developments placed in service in 2006 had an average annual tax credit allocation per unit of $8,321, according to an update to the Department of Housing and Urban Development’s LIHTC database.