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Certain statements in this press release are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of statements that include, but are not limited to, phrases such as believe, expect, future, anticipate, intend, plan, foresee, may, should, will, estimates, potential, continue, or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Partnership. The Partnership cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncert
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Denver, Colo., Dec. 10, 2020 (GLOBE NEWSWIRE) Recently, the Colorado Housing and Finance Authority (CHFA) announced the recipients of state and federal housing tax credits awarded in its second competitive allocation round of the year. The Montbello FreshLo Initiative, a program of the Montbello Organizing Committee (MOC) that will include a grocery-anchored, cultural hub with affordable housing received an award of $1,267,504 in federal housing tax credits and $1,000,000 in state housing tax credits.
The credit allocation will allow MOC to leverage approximately $34 million in funds to build out the Montbello FreshLo Hub, a mixed-use development that will include 97 affordable housing units, from one to three bedrooms, for residents making 30 to 70 percent of the Area Median Income (AMI) which in 2020 is $24,000 to $56,000 in annual gross income for a two-person household in Denver County. The Hub will also include a cultural arts wing with a black box theater, g
A plan by the Ilitch family organization to redevelop six historic apartment buildings near Little Caesars Arena into market-rate and affordable housing received positive reviews Wednesday night from the Detroit Historic District Commission.
Commissioners unanimously agreed to give certificates of appropriateness to the $60 million project, which would create 170 renovated apartments, 84 of them set aside at lower rents for income-qualified tenants. A seventh and former commercial building would become community space and a fitness center.
“It looks pretty darn good, Commissioner Dennis Miriani said of the plans. I share the cautious optimism that this comes to fruition because it’s a beautiful area, these are beautiful buildings and it’s great to see them being preserved and restored.
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A groundbreaking for an affordable housing development called The Waypoint in Alexandria was held on Wednesday, Dec. 9. (Wesley Housing)
(Wesley Housing)
(Wesley Housing )
ALEXANDRIA, VA Affordable housing developer and manager Wesley Housing and partners broke ground Wednesday on an affordable housing project in Alexandria called The Waypoint at Fairlington.
The project, in partnership with Fairlington Presbyterian Church, will add 81 affordable units on a underutilized parking lot adjacent to the church. The development will serve individuals and families with 30 percent, 50 percent, and 60 percent of the Area Median Income. The City of Alexandria provided rental assistance vouchers to set aside nine of the units for individuals with developmental disabilities.