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Share via Shortlink Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)   For many minority developers, building the necessary capacity and experience to win a steady stream of work in New York City has been an uphill battle. Now, some feel that the city is trying to add an extra hurdle just as they are able to successfully compete. A group of developers has called on the City Council to withdraw or amend a bill that would limit the transfer of city-owned land intended for affordable housing to nonprofit d...

A group of private developers will repair more than 1,700 public housing units in New York after securing a $271 million loan, according to a report in Real Estate Weekly. The New York City Housing Authority struck the deal with PACT Renaissance Collaborative, a joint venture between Monadnock Development, Community Preservation Corporation, Community Development Trust, Kalel Holdings, Lemor Development Group, and Community League of the Heights (CLOTH), according to the report. As part of the deal, NYCHA will lease 16 of its properties to the joint venture, which will be responsible for fixi...

Fannie Mae Helps Finance $289 Million Rental Assistance Demonstration Transaction with New York City Housing Development Corporation Financing Will Fund Repairs and Renovations for 16 Properties with 1,718 Apartment Units News provided by Share this article Share this article WASHINGTON, Dec. 10, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) announced today it financed a $289 million Rental Assistance Demonstration transaction with its Delegated Underwriting and Servicing (DUS ®) lender partner Wells Fargo and the New York City Housing Development Corporation. The 30-year financing, put toge...