Glenn Petherick Author Archives

Like many of his colleagues at local housing authorities across the country, Steven Benham is attempting to make lemonade from lemons, trying to maintain and revitalize his public housing properties despite less federal funding and a growing need in his small community for additional affordable apartments.

An Atlanta-based asset management software and services company is preparing to launch a Web-based information service targeting all types of participants in the federal low-income housing tax credit (LIHTC) industry, including syndicators, lenders, developers, investors, state agencies, and others.

On July 14, the Community Development Financial Institutions (CDFI) Fund issued a notice of allocation availability (NOAA) to open federal new markets tax credit program’s eleventh funding round. The CDFI Fund is combining the calendar 2013 and 2014 rounds into a single application cycle, making up to $8.5 billion in allocation authority available.

Sometimes a revolution sneaks up on you quietly, attracting few joiners at first and widespread initial skepticism. But then it begins to take root as more people get on board, convinced that the conventional rules and old ways of doing things just don’t make sense any more.

Officials in Alabama and Texas are gearing up to launch new state historic rehabilitation tax credit programs while Rhode Island’s newly re-opened historic tax credit program is already oversubscribed.

The Joint Center for Housing Studies of Harvard University is undertaking a study of senior housing issues, including the special needs of Americans as they get older.

Boston Capital is on the street with a new national multi-investor fund expected to close in the late third quarter, said executive Jeff Goldstein. The anticipated size is around $150 million and the expected after-tax yield to investors between 7.0% and 7.2%, he said.

Once a month, some of the younger renters at Metro 510, an affordable family property, saunter across the street to Vista 400, a senior development, to do battle with some of its residents in what has become a regular ritual – a bocce ball tournament.

The House and Senate Appropriations Committees approved bills in June to provide funding for federal housing programs for Fiscal Year 2014, which begins October 1.

That’s the tale behind Buzza Lofts, a new affordable apartment development in Minneapolis created by local developer Dominium from the renovation and adaptive re-use of a 136,000-square-foot historic building.

At Jamboree Housing Corporation, a nonprofit developer/owner, President Laura Archuleta is beginning to feel the pain from the elimination of California’s local redevelopment agencies (RDAs) and the large pot of gap dollars they once provided for affordable housing. She’s scrambling to find other sources of gap funds to make new low-income housing tax credit deals pencil out.

Creston Avenue Residence, a new low-income housing tax credit (LIHTC) development under construction in the Fordham section of the Bronx, is writing a new chapter in the history of supportive housing.