Private Money Steps Up
SMALL, PRIVATE EQUITY GROUPS are flooding the marketplace, and investors are targeting cash-on-cash returns over internal rate of return (IRR), say industry experts.
Obama Outlines Spending Plans
President Barack Obama has outlined a fiscal 2010 budget that provides more funding for federal housing programs, including $1 billion for the national Affordable Housing Trust Fund.
Meeting Multifamily Mortgage Needs
Though the current financial crisis originated in the single-family sector, as APARTMENT FINANCE TODAY readers well know, it has since spread to other sectors. Thus, there is a looming liquidity crisis that could seriously impair the apartment sector.
Making Room for Green
DEERFIELD BEACH, FLA.—While other developers are tightening their corporate belts, Carlisle Development Group found a surplus in the construction budget for its Tallman Pines redevelopment big enough to try green building, thanks to conservative budgeting and boom-time tax credit prices.
Richard L. McQuady has been named CEO of Kentucky Housing Corp.
Credit Crisis Squeezes Deals
Affordable housing developer Volunteers of America (VOA) had to switch lenders twice before it could sell tax-exempt bonds backed by the loan to Sierra Manor, a Sec. 202 community affordable to lowincome seniors in Reno, Nev.
Developers Weather the Storm
Affordable developers have struggled for years to fill vacant lots and repair abandoned buildings in the low-income neighborhoods of aging Northeastern cities.
Florida Bridges Loan Gap
Through a $10 million grant Florida Housing Finance Corp. (FHFC) received from the state last August, the department is putting the money to good use by initiating a preservation bridge loan program targeting nonprofit development organizations by providing loans for acquisition and predevelopment...
Obama Outlines HUD Budget Increase
Funding for the Department of Housing and Urban Development (HUD) gets a $7 billion boost under the White House’s 2010 budget proposal.
HUD Prepares a Plan to Struggling HFAs
A federal plan aimed at helping boost housing finance agencies (HFAs) is in the final stages of being prepared, according to an official at the Department of Housing and Urban Development (HUD).