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Investors Mine For Profits In Affordable Housing, Leaving Thousands Of Tenants At Risk

Charles Clark moved to Boston’s South End when he was a young musician, just getting by. Forty years later, he lives in the same historic brownstone, even as rising wealth has pushed many people out of the neighborhood. He’s stayed thanks to a nonprofit that’s kept a few hundred apartments like his affordable. Tenants’ Development Corp. is one of the oldest groups of its kind in the nation, protecting the rights of renters many of them families of color and seniors. But now, TDC and its residents are facing the fight of their lives, as a Denver-based investment firm battles for control of 36 of the nonprofit’s properties. It’s a tactic Alden Torch Financial and firms like it are using to squeeze extra profits out of the federal government’s chief program for backing low-income housing, according to court cases in multiple states and interviews with more than 20 housing and legal specialists.

D C weighs two pitches for Reeves Center redevelopment - Washington Business Journal

D C weighs two pitches for Reeves Center redevelopment - Washington Business Journal
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.

National Housing Trust Fund award to Pa increases 148% from 2020

Share this article Share this article HARRISBURG, Pa., April 28, 2021 /PRNewswire/  Pennsylvania will receive $24.1 million in national Housing Trust Fund dollars this year, representing a 148% increase compared with its 2020 funding amount of $9.7 million. This is according to an announcement by the U.S. Department of Housing and Urban Development, which distributes HTF funding. Only six states received more HTF financial support for 2021. Pennsylvania has the fourth greatest percentage increase in HTF funding among the 50 states. The total amount included in the 2021 national HTF disbursement is nearly $700 million, which is the largest annual allocation ever provided since the fund was created in 2008. The 2020 HTF total funding amount, for comparison, was $322.5 million.

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