Murphy admin, University Hospital collaborate to create affordable housing May 19, 2021
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The Murphy administration on May 19 announced a collaboration with University Hospital in Newark and L+M Development Partners, Type A Projects and MSquared under the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) Hospital Partnership Subsidy Program to provide vital affordable and supportive housing – including homes for frequent users of emergency services – in their host communities.
This project will provide 78 affordable rental apartments that will serve low- and moderate-income households to promote economic diversity in the Fairmount neighborhood of Newark.
Sixteen supportive housing units will be reserved for homeless individuals and families, and these will be supported by project-based rental vouchers provided through the New Jersey Department of Community Affairs’ Housing Choice Voucher Program. All supportive units will be paired with access to medica
Kim Loveall Price, center, director of a nonprofit that operates Ashwood Court, a low-income housing complex in Bellevue, Wash., talks with residents Susanne Sherman, right, and Joyce Hansbearry. Credit: Courtesy of Mike Seigel for WBUR.
Financial wrangling over federal low-income housing program rules affected a Bellevue property May 03, 2021
A series of legal battles are being waged in courts around the country over a decades-old federal program designed to protect affordable housing. Private firms are now trying to leverage it for profit.
Thatâs putting the future of secured housing for low-income families in doubt. It s having a big impact in the Puget Sound region. WBURâs Senior Investigative Editor Christine Willmsen has been reporting on the issue. She told KUOWâs Kim Malcolm whatâs going on.
Ballston affordable housing project gets state funding | The Daily Gazette
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A planned apartment complex just south of Ballston Spa that will be geared to those who need support to live independently is receiving $5.6 million in state affordable housing financing, Gov. Andrew M. Cuomo announced Wednesday.
The 60-unit Dominic Hollow project was included in $98 million in affordable housing funding statewide announced by Cuomo. The money is intended to help revitalize communities, fight homelessness, and expand access to energy-efficient, affordable housing opportunities, the governor said.
A $5.6 million financing award went to the planned Dominic Hollow Apartments in the town of Ballston. The project is sponsored by RISE Healthy Housing and Support Services of Saratoga Springs, which said the complex will include 18 units designated for supportive housing, 12 units for transitional housing, and 30 units designated as affordable housing for general community use.
Multifamily investors and developers need to seek more opportunities in the underserved affordable housing market.
There are a few ironies that arise from the past year’s pandemic events. First, it seems that despite how quickly the pandemic came upon us, it will take us months to set the ship right and reach full recovery. On one hand, as the Congressional Budget Office predicts, “Real GDP [will expand] rapidly over the coming year, reaching its previous peak in mid-2021 and surpassing its potential level in early 2025.”
But job performance is still showing the signs of uncertainty that mark our transition from slump to recovery. Some 916,000 jobs came on-line last month. But while “The number of unemployed persons, at 9.7 million, continued to trend down in March [it] is 4.0 million higher than in February 2020,” says the US Bureau of Labor Statistics.