Breaking Ground: Labor Prices Help New Construction Deals Pencil Out
While construction debt is much more limited now, construction costs have come down so much that deals are penciling out again.
Home to many financial companies, Wilmington has been hit particularly hard by the recession. But local architects aren't completely without hope.
SAN LEANDRO, CALIF.— The acquisition and rehab of Ashland Village started out as a no-brainer for Eden Housing, Inc., says Executive Director Linda Mandolini.
GULFPORT, MISS.— Edgewood Manor, a 120-unit, 15-building Sec. 8 development, became a symbol of people being left behind during the months after Hurricane Katrina hit the Gulf Coast.
PALO ALTO, CALIF.— Alta Torre provides 55 units of affordable seniors housing while complementing the adjacent Taube Koret Campus for Jewish Life.
SAN JOSE, CALIF.— Once the site of a sorority house near San Jose State University and then an aging residential hotel, Casa Feliz Studios has been reborn as a contemporary and sustainable development serving extremely low-income residents.
Digging for Dollars
Developers are, inherently, eternally optimistic.
NEW ORLEANS— The Domain Cos.' $53 million Crescent Club community on Tulane Avenue in downtown New Orleans raises the bar of mixed-use development to urban economic and cultural viability where once there was none.
SAN FRANCISCO— Mercy Housing California has broken new ground, building the first affordable housing high-rise in the city in about 20 years.
Pop Quiz: Q&A With Tom Gleason, Executive Director of MassHousing
Tom Gleason has spent his career working in affordable housing lending and community development finance.