Bank of America Reports on Community DevelopmentActivity
Bank of America reported providing $168.2 billion in community development lending and investing, including $147 billion in affordable housing, during the first year of a 10-year community development goal.
Construction Begins on Big Bear Project
Urban Housing Communities, LLC (UHC), has begun construction on The Crossings at Big Bear Lake, a 42-unit affordable housing development that will be the California resort community’s first affordable project targeted toward families.
CTCAC Offers Reminder for Sec. 1602 Deals
The California Tax Credit Allocation Committee (CTCAC) issued an important notice to developers who have received Sec. 1602 tax credit exchange funds.
CTCAC Announces Third Round
The California Tax Credit Allocation Committee has announced a third funding round for 4 percent low-income housing tax credits with state tax credits.
Red Stone Announces Latest Bond Deals
Red Stone Partners has acquired $30.3 million in unrated multifamily housing bonds financing stabilized 4 percent low-income housing tax credit (LIHTC) properties in California and Texas.
California Releases Proposed Changes
The California Tax Credit Allocation Committee has released its proposed regulation changes, including the elimination of its small development set-aside, for 2011.
Vitus Group Acquires S.F. Seniors Property
SAN FRANCISCO—Vitus Group announced the acquisition and planned $5 million renovation of Crescent Manor Apartments, an 86-year-old former hotel in the city’s upper Tenderloin district.
Case Challenges California’s InclusionaryHousing Laws
Affordable housing advocates in California are keeping a close eye on local housing laws this year after a developer won a major victory in his challenge of a Los Angeles plan.
Exchange Program Could Spur 155 CaliforniaProjects
Nearly 13,000 affordable housing units could begin construction in California this year, generating more than 16,000 jobs, if equity investments are combined with the exchange of otherwise unusable 4 percent and 9 percent low-income housing tax credits (L
Sustainable Development Report Available
New California-based nonprofit Partnership for Sustainable Communities (PSC) is offering developers, planners, and architects a free 30-page report on the state of the art in sustainable community planning and development.