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.
Scott Beyer • 6 min read
America has seen shifts in senior care provisions. There are at least some elderly people who prefer to retire near urban centers, not suburban campuses, since that puts them near a greater diversity of people and amenities.
Mark Fogarty • 6 min read
It is a little counterintuitive to think of public housing, especially the big high rise towers whose problems have often been resolved by dynamiting them, as historic.
Mark Fogarty • 6 min read
The Norris Homes project in Philadelphia has a little bit of everything. It is a Department of Housing and Urban Development Rental Assistance Demonstration (RAD) project. It is a Choice Neighborhoods Initiative. It uses Low Income Housing Tax Credits. It is a transit-oriented development (TOD). It is a green project. It even has a lender that provided both debt and equity for the financing.
Mark Olshaker • 8 min read
Motivation is a basic actors’ tool – and it’s also the driving force behind the Actors Fund’s tireless effort to create the Hollywood Arts Collective: a new multi-use affordable housing development for all entertainment industry professionals being developed in Los Angeles.
Mark Olshaker • 6 min read
Ever since the Opportunity Zone program was announced two years ago, developers, investors and community development organizations have been trying to determine which other tax benefit programs, if any, fit comfortably within the same requirements and parameters.
Mark Fogarty • 5 min read
Most tax credit deals are complicated. Between the allocation, syndication and gap financing, Low Income Housing Tax Credit developments are never easy to finance and build.