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Clark tackles affordable housing challenge

Sam Clark never has been one to turn down challenges, and his latest mission as executive director of Pikes Peak Real Estate Foundation addresses problems with no easy solution. ....

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Fund for affordable housing created in the Pikes Peak region

Apartments like these could spring up to curtail the local affordable housing shortage.
KonstantinL.Shutterstock.com
Given the extreme shortage of affordable housing in Colorado Springs, the news that the Pikes Peak Real Estate Foundation has launched the area s first Workforce Housing Fund comes at an opportune time.
The fund has already accumulated more than $200,000 and serves as a collaboration among the city, regional foundations and local developers, the foundation said in a release.
Estimates of affordable housing shortfalls vary from 14,000 to 20,000 units in a city where incomes fall below that found statewide.
Census Bureau data from 2019 shows median household income in Colorado Springs at $64,712, compared to statewide, at $72,331. ....

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JT Klein Co. Lands $29M for Wisconsin Affordable Housing Project

JT Klein Co. Lands $29M for Wisconsin Affordable Housing Project
KeyBank provided financing for a 116-unit development in Fitchburg slated for a 2022 completion.
Feb052021
Image courtesy of KeyBank
JT Klein Co. has received a $29.3 million financing package from KeyBank for the construction of Limestone Ridge Apartments, a 116-unit affordable housing project in Fitchburg, Wis. KeyBank Community Development Lending and Investment provided the borrower with a $16 million construction loan, while KeyBank’s Commercial Mortgage Group secured a $13.3 million, fixed-rate forward tax-exempt loan through Freddie Mac.
Limestone Ridge will take shape on a 3.8-acre parcel at 6270 Limestone Lane. Upon completion, the four-story building designed by JLA Architects will house one-, two- and three-bedroom apartments, with all units restricted to households earning between 50 and 80 percent of the area’s median income. Amenities will include a fitness cente ....

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