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.
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).
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.
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.
A Sea Change in Underwriting Affordable Housing Deals
Affordable housing deals have long enjoyed more favorable underwriting than their market-rate brethren.
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.
Prairie Crossing, an $11.37 million mixed-income development, opened its doors Sept. 23.
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.
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.
Dallas— The large number of apartments under construction shows the confidence developers have in this market.