The Illinois Housing Development Authority (IHDA) last week celebrated the grand opening of 90 new affordable homes for seniors in south suburban Blue Island for the Senior Suites of Fay’s Point.  IHDA provided a $2.2 million low-interest federal HOME loan and $1.6 million in federal Low-Income Housing Tax Credits to build the development and the [...]

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Last week, local dignitaries and area residents from the District of Columbia joined Treasurer of the United States Rosie Rios to celebrate the ground breaking of Vida Senior Residences.  Vida Senior Residences will be available to individuals ages 55 and older who earn 50 percent or less than the area media income (AMI).  The 36 [...]

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New York City Housing officials, SKA Marin and Local Development of Crown Heights recently celebrated the grand opening of Crown Heights Apartments, an eight-story affordable housing development in Crown Heights, Brooklyn.  The complex offers 143 affordable rental units for low-income seniors and was constructed through HDC’s Low Income Affordable Market Place Program (“LAMP”).  Crown Heights [...]

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The Illinois Housing Development Authority (IDHA) and Gundaker Commercial Group celebrated the opening of Wingate Manor, a state-funded affordable housing development for low-income seniors in Shiloh, Illinois.  Wingate Manor, a 48-unit project, is part of a two-phase, master-planned senior community spanning 172 acres and was named Green Affordable Multifamily Project of the Year by the [...]

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What does one of the hottest technology companies in the world have to do with affordable senior housing?  According to an article in Novogradac’s Journal of Tax Credits entitled “Google’s Investment in Affordable Housing Gets Results”, Google Inc.’s first low-income housing tax credit (LIHTC) investment will benefit over 200 of California’s seniors looking for affordable [...]

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Wayland Village Senior Apartments in West Baltimore recently celebrated its groundbreaking with representatives from federal, state and local government as well as Enterprise Homes, Inc. and partners Wayland Baptist Church CDC and Bon Secours Baltimore Health System. Wayland Village will feature 89 affordable rental apartments for low- and moderate-income seniors and for disabled adults. The [...]

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U.S. Senator Maria Cantwell (D-WA) recently introduced legislation aimed at increasing the use of the low-income housing tax credit that hopes to reinvigorate the development of low-income housing.  The Job Creation and Affordable Housing Act, co-sponsored by Senators John Kerry (D-MA) and Barbara Boxer (D-CA), would jump-start private investment in the Low Income Housing Tax [...]

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The Texas Department of Housing and Community Affairs (TDHCA) announced a funding award of $500,000 in funds to developers constructing the 92-unit Abilene Senior Village Apartments which will help finance five units designed for low income senior citizens with disabilities. The award was made through the Department’s HOME Investment Partnerships (HOME) Program, funded through the [...]

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State Farm Insurance Cos. announced this month that it is expanding its commitment by $25 million with the National Equity Fund (NEF).The increased capitalization of the fund will help revitalize low-income communities by financing affordable housing for disadvantaged families and seniors. State Farm has joined forces with NEF, a nonprofit syndicator of low-income housing tax [...]

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The Board of Directors for Alaska Housing Finance Corporation recently announced that it approved an $846,000 mortgage loan to Lumen Park Associates for a 20-unit low- to moderate-income independent senior housing project to be located in South Anchorage, Alaska.  The facility will consist of a three-story building comprised of eight one-bedroom apartments and a dozen [...]

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Representatives from Cedar Rapids, Iowa and the surrounding areas celebrated the groundbreaking of the Cedar Crest Apartments last week.  The newly constructed community of 45 homes for seniors age 55 or older is located on a 2.1 acre site that features the redevelopment of a three-story historic farmhouse into community space for residents with a [...]

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Enterprise Community Investment, Inc. (Enterprise) and National Community Fund I, LLC, an affiliate of United Fund Advisors, LLC, recently closed on a $22.3 million New Markets Tax Credit (NMTC) transaction that will finance the new construction of the Harrison Circle Building at the Morris Heights Health Center (MHHC) in Bronx, N.Y. The 48,700-square-foot building will [...]

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