Mark Fogarty • 6 min read
It’s an idyllic scene out of a past when COVID-19 was not disrupting senior communities across the country: Seniors in lawn chairs and wheelchairs have gathered outside their assisted living facility on a sunny day, enjoying a performance by a singer with a guitar.
Mark Fogarty • 5 min read
There is a “tremendous need” to preserve existing affordable housing in California, according to Jonathan F.P. Rose of the Jonathan Rose Companies.
Mark Fogarty • 6 min read
Planning a workforce housing development at 65 to 120 percent of area median income ordinarily might mean cutting it off from the possibility of equity investments, since Low Income Housing Tax Credit equity eligibility generally tops out at 60 percent AMI, absent income averaging.
Mark Fogarty • 5 min read
When a hurricane has devastated a project and the developer wants to get rehab work done before the next deadly storm season, speed is of the essence.
Mark Fogarty • 6 min read
Renovating affordable housing units in San Francisco isn’t very affordable. Redoing the 202 units at Eastern Park Apartments, for instance, is estimated to cost $171 million when finished in this ultra-high-cost housing market.
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 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.
Mark Fogarty • 6 min read
Mercy Housing has a big footprint, with properties in 33 states and five regions of the country. The affordable housing nonprofit also has a big footprint in the lives of the occupants of those properties, with an extensive, diverse resident services effort that targets five different areas to make a big positive impact on their lives.
Mark Fogarty • 5 min read
With CompassionCare, resident services are very much hands-on. You might see registered nurse Adam Sebek, for example, dash out of Park View Terrace Apartments to pick up an urgent prescription for one of the residents at the 120-unit property himself. The pharmacy isn’t far. It is in a mall right across the street from the Moorhead, MN affordable seniors/disabled development.
Mark Fogarty • 7 min read
A small city, or even a small town, doesn’t have to have a small housing footprint. Cases in point: National City, CA, where a tiny staff works on big affordable projects, and Kittery, ME, a place so small it doesn’t have its own housing department but still dreams of attracting tax credit deals.
Mark Fogarty • 5 min read
An idea that got its start at a kick-the-tires session about the future of Indianapolis four years ago has blossomed into an at least $15 million effort to enhance transit-oriented housing development (TOD) along that city’s expanding bus routes.