Page 7 - Project Based Section News Today

Share In its first acquisition in New Jersey, Standard Communities, the affordable housing division of Standard Companies, has acquired Baltic Plaza Apartments, a 169-unit affordable senior community in Atlantic City. The total capitalization of this transaction is approximately $38 million. Built in 1982 and located at 1313 Baltic Avenue in Atlantic City, Baltic Plaza’s units are supported by a Project-Based Section 8 Housing Assisted Payment (HAP) contract. Standard Communities comple...

Mayor Carter veto aims to clear way for controversial housing development in St. Paul James Walsh, Star Tribune © Star Tribune/Star Tribune/Alatus/Star Tribune/TNS The proposed Lexington Station apartments in St. Paul Saying St. Paul needs a range of housing to meet its goals for vitality and affordability, Mayor Melvin Carter on Wednesday vetoed the City Councils rejection of a $60 million apartment and retail project at University Avenue and Lexington Parkway. A divided cou...

Press release content from Business Wire. The AP news staff was not involved in its creation. GRC, Forward Thinking Management Company, is Newest Addition to 5G LLC’s ‘High Tech’ Rooftop Portfolio April 8, 2021 GMT DALLAS--(BUSINESS WIRE)--Apr 8, 2021-- 5G LLC, one of the largest privately-owned wireless infrastructure companies in the U.S., announced that it has signed an exclusive multi-year agreement with GRC (Grenadier Realty Corp) for their sites in New York City and surrounding area...

Press release content from Business Wire. The AP news staff was not involved in its creation. FTK Awarded Ridgecrest Terrace LIHTC Rehabilitation Contract April 1, 2021 GMT ALLEN, Texas--(BUSINESS WIRE)--Apr 1, 2021-- FTK Construction Services, LLC, (FTK) a full-service nationwide General Contractor specializing in Low-Income Housing Tax Credit (LIHTC) rehabilitation projects, is proud to announce that FTK has been awarded the contract for the construction and rehabilitation of Ridgecrest Terra...

MACCLENNY, FL - Affordable Housing Investment Brokerage Inc. (AHIB) has recently sold Baker Manor Apartments in Macclenny, Florida for just over $2.5 million, with a reserve account released to the seller as additional consideration. Managing Director Kyle Shoemaker represented both the purchaser, The Grey Rock Group, and the seller to complete the transaction. “Baker Manor is fully-covered by a project-based Section 8 contract that has allowed ownership to invest heavily in the property and...

GLEN ELLYN, IL - Affordable Housing Investment Brokerage (AHIB) is pleased to announce that Levy House, located at 1221 W. Sherwin Ave. in Chicago’s East Rogers Park neighborhood, has sold for $8,100,000. The brokerage firm partnered on the listing with Kiser Group so that the seller had the benefit of AHIB’s expertise in affordable housing and Kiser Group’s mid-market multifamily expertise in Rogers Park. Kyle Shoemaker, Managing Director of AHIB represented the buyer, Preservation of Af...

An architectural rendering of Peace Lake Towers in New Orleans, Louisiana. The construction scope encompasses enhanced security features and upgraded heating, cooling, mechanical and electrical systems. Additionally, the plan calls for the installation of a new roof, windows, and doors. Inside, crews will install energy-efficient appliances and eco-friendly materials for countertops and cabinets. "For seniors and persons with disabilities, affordable housing is critical. Since the supply of aff...

Rockport Mortgage Corporation has closed a $74.5 million FHA Section 223(f) refinancing loan for Israel Senior Citizen Housing I and II, a 512-unit HUD-subsidized property for the elderly located in the Far Rockaway neighborhood of Queens, NY. The property consists of two 17-story elevatored buildings and is owned by JASA Corporation and managed by JASA Housing Management Services for the Aged.   Israel Senior Citizen Housing I and II was constructed in 1966 and developed for elderly housing...