Mark Fogarty • 6 min read
From the evidence of the Boston area, one good way to get a transit-oriented development (TOD) done is to site a housing project either directly adjacent to a transit line or on unused transit property itself. This month Tax Credit Advisor is featuring the third in a series of these Boston TODs, an ambitious development called Bartlett Station, going up on an old bus yard in the city’s Roxbury section.
Mark Fogarty • 6 min read
An abandoned hospital campus is set to bring new life to a suburban Chicago neighborhood through an ambitious rehab that is to build housing, health care, social services and educational office space through financing using both Historic Tax Credits (HTC) and New Markets Tax Credits (NMTC) equity.
Mark Fogarty • 6 min read
Affordable housing developments are never easy. But acquiring and rehabbing a 23-year-old project in Houston gave Vesta Corporation a few more hoops to jump through than just fixing old roofs and redoing faulty water lines. In addition to the nuts and bolts of this comprehensive $30 million renovation, the developer found the state housing agency wanted to see some non-construction improvements as well, like better educational opportunities for residents and a reduction of crime and blight in the neighborhood.
Mark Fogarty • 6 min read
A.O. Flats, a Greater Boston housing development that takes its name from two local landmarks (A for Arborway from the Arnold Arboretum and O for Orange from the Orange transit line), itself will be a blend of two types of residences. Both affordable and workforce housing residents are putting down roots in the Boston neighborhood of Jamaica Plain just a short commuter ride from center city.
Mark Fogarty • 6 min read
Not many buildings have their own rail system, much less one that runs across the ceiling. And very few have conference rooms where you can look out and see elephants and giraffes from the windows. But Zoo Atlanta’s Savanna Hall has both.
Mark Fogarty • 5 min read
Income averaging has achieved tax credit eligibility for all 135 units, including workforce housing units at up to 80 percent of area median income (AMI), at a development set to rise from a Boston trolley parking lot.
Mark Fogarty • 7 min read
Wexford Science + Technology has taken an old power plant formerly called the Dynamo House and developed a historic rehab that is turning into a dynamo of its own, one that is transforming a whole section of Providence, RI into a knowledge and medical hub.
Mark Fogarty • 6 min read
The historic rehab of the YWCA Central Massachusetts will not only improve its traditionally extensive array of services for women and their children, but it is being built by a woman-led construction management team as well.
Mark Fogarty • 6 min read
The state of Vermont is on track to see its first New Markets Tax Credit (NMTC) deal that will finance homeownership-only units. And that first project, planned to be developed by a local community land trust, will target an unusual and specialized population: refugees who have been resettled into the state’s largest city, Burlington.
Mark Fogarty • 6 min read
Hopeton Terrace in Chillicothe, OH, the first senior housing project to benefit from a RAD for PRAC rehab deal, may soon have a lot of company. According to officials at the Department of Housing and Urban Development, HUD has seven more such deals currently being underwritten and has received a total of 180 applications to take part in the new program.
Mark Fogarty • 5 min read
The Pittsburgh Athletic Association building, more than a century old, has been called a structure with good bones, gracious and elegant. Presidents have spoken there. Stately weddings have been held within. There was a two-story swimming pool on its third floor. Now, after years of deterioration, Historic Tax Credits (HTC) are being used to bring it back to its old grandeur.
Mark Fogarty • 6 min read
The Merchants National Bank building in Mobile, AL, has experienced many obstacles since its opening in 1929. For example, the 1929 market crash occurred within weeks of opening, it is currently relaunching through the extensive disruption of a pandemic and has weathered dozens of hurricanes in its nearly 100 years of existence. The $45 million rehab is trying to ensure this historic building and the buildings that surround it can endure for another century.