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Commentary: To Unlock Capital for Multifamily Housing, Raise FHA Mortgage Limits
Low per-unit mortgage base limits constitute a significant flaw in an otherwise highly worthwhile Federal Housing Administration (FHA) mortgage insurance program.
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NYC Seeks to Turn Unsold Condos into Affordable Units
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).
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North Dakota Awards LIHTCs
BISMARK, N.D.—The North Dakota Housing Finance Agency (NDHFA) has reserved approximately $2.8 million in low-income housing tax credits to six developments that will provide 266 affordable housing units.
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Fire Destroys Seniors Development Under Construction
Greece, N.Y.— A four-alarm fire tore through a construction site here Jan. 24, collapsing part of an affordable seniors housing complex that had been just months away from its grand opening.
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A Sea Change in Underwriting Affordable Housing Deals
Affordable housing deals have long enjoyed more favorable underwriting than their market-rate brethren.
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Recovery Rates on Distressed Assets Vary
Throughout 2009, a new large opportunity fund seemed to close on a weekly basis, with investors salivating at the prospects of wholesale discounts.
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Regional News
Prairie Crossing, an $11.37 million mixed-income development, opened its doors Sept. 23.
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Valerie Jarrett's Struggle
CHICAGO— For Valerie Jarrett, redeveloping public housing is more than a federal mandate. It's a personal mission to show that an idea championed by her grandfather was right after all.
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Houston Count Grows
Houston—Marvy Finger is about to change this city's skyline as the longtime developer nears completion on One Park Place, the city's first luxury high-rise apartment building in more than four decades.
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Texas-Size Growth
Dallas— The large number of apartments under construction shows the confidence developers have in this market.