A New Model Deal “˜Old Law’ Section 202 Preserved Creatively

By Caitlin Jones
April 11, 2011 1 min read

Tax Credit Advisor, April 2011: The oldest HUD Section 202 project in New England is being renovated and recapitalized in a creative $17 million joint venture tax credit transaction of many “firsts” that may be a model for preserving other “old law” 202 developments.

Local developer Marc Slotnick is partnering with nonprofit Beth Israel Senior Citizens Housing, Inc. to redevelop the 81-unit Salem Towers affordable apartment tower for seniors in this close-in Boston suburb of 58,000. The nonprofit, started by a nearby Jewish synagogue, built Salem Towers in 1964 and has managed it since. But by recent years, the property was in dire need of modernization, supportive services, and extra dollars to enable its senior residents to comfortably age in place and continue to enjoy affordable rents.

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.