Historic West End Partners has amassed several parcels on West Trade Street, allowing the company to pursue a mixed-use development that’s expected to be anchored by a grocery store.

Historic West End Partners will collaborate with Chotomy, the development arm of local architecture firm Shook Kelley; The Integral Group; and Charlotte nonprofit P3 Foundation on a six-story, 290-unit apartment building that will include a 15,000-square-foot market as the ground-floor anchor tenant. The five-parcel assemblage will total just over 1.5 acres and cost $100 million to build. Funding will come from donations and privately placed tax exempt bonds.

The Charlotte Business Journal reports the affordable housing development will be unlike any other project the city has seen because it will be wholly owned by a group of nonprofits. As co-developers, Integral and Chotomy will only be compensated on a fee basis with no ownership in the project.

The groups hope to break ground in 2026 and deliver in late 2027.

M&T Realty Capital Corporation provided $38.71 million in financing for 29-17 40th Ave., a 103-unit affordable property in a Long Island City Qualified Opportunity Zone. Loan originators Matt Newton and Todd Trehubenko of the M&T RCC office in Boston arranged the Freddie Mac Targeted Affordable Housing loan on behalf of The Davis Companies, SB Development and Hazelton Capital Group.

“By working closely with the sponsors and Freddie Mac’s Targeted Affordable Housing group in this challenging interest rate environment, we were able to execute on a timeline that fit the needs of the sponsors’ business plan for this Opportunity Zone project,” said Newton. “The dedication from all parties was crucial in getting this deal across the finish line.”

Twelve of the units at 29-17 40th Ave. will be restricted to tenants earning 130% of the Area Median Income and 19 will be restricted to those earning 80%.

Advantage Capital announced the financial closing of The Harbor at Quantico Creek. Funded in connection with the Virginia Housing Opportunity Tax Credit program, the development will deliver affordable housing for seniors in the Town of Dumfries, Virginia.

The Harbor at Quantico Creek will include 125 units of affordable housing with 81 one-bedroom and 44 two-bedroom apartments, serving households aged 62 and older. “Housing costs have risen dramatically in the Washington metropolitan area, and The Harbor at Quantico Creek will provide much-needed affordable housing for our area seniors,” said William Fiederlein, Vice President, Advantage Capital.

Developed in partnership with Pillar Church of Dumfries, the community will feature amenities, including a fitness center, library, and more. “This development is a reflection of our commitment to creating quality, affordable housing that meets the needs of seniors in our communities,” said Robert Byrne, Vice President, Community Housing Initiative.

Dominium is hoping to take over some of a golf course property owned by the Raleigh Golf Association golf course to build apartments on nearly 44 acres. The proposed zoning is residential mixed-use up to four stories. The request contemplates only building on a few of the holes at the 27-hole layout.

The properties identified in the application are on the north side of the road. The RGA clubhouse and most of the 27-holes at the course on the south side of Tryon Road are not included in the rezoning.

The company is in the design process and plans to build between 350 and 500 townhomes and apartments. The units will most likely be offered to those making 60 percent or less of the area median income. The project would take three to four years to complete.

Dominium anticipates receiving noncompetitive housing tax credits from the North Carolina Housing Finance Agency.

Berkadia secured financing for Frederick Samuel Apartments, a 664-unit, midrise affordable housing property located in Harlem. Managing directors Heather Olson and Matthew Baptiste secured $71 million in permanent acquisition financing on behalf of New York-based Genesis Companies and Lemor Development.

The 30-year permanent financing was facilitated through Freddie Mac’s Bond Credit Enhancement program.  Berkadia will also service three tranches of senior debt totaling $93 million. 

The financing was a joint effort between The New York City Housing Authority (NYCHA), the New York Housing Development Corporation, Berkadia, Freddie Mac, and Goldman Sachs through NYCHA’s PACT Program. The PACT program combines HUD’s Rental Assistance Demonstration Program, HUD’s Project Based Rental Assistance (Section 18), and public/private partnerships.

“With the transformation of more than 660 homes, this initiative will provide much-needed renovations and resources to the community, which will improve the quality of life for thousands of residents in Harlem,” said Olson.

Rendering courtesy of SLM Architecture.

The San Antonio Housing Trust is looking for a partner to expand its affordable housing program. The plan is to construct three separate communities in the Vida community on the town’s southside with the goal of building 530 units. The first phase will feature 90 senior housing units.

The San Antonio Business Journal reports San Antonio-based architectural firm Lake Flato is handling the master planning phase. No choices have been made for the developer or architect of record. An RFP process will get underway before the first of the new year.

20% of senior housing units will be considered affordable, targeting residents making 30% of San Antonio’s area median income. It’s expected to qualify for the 9% housing tax credit program.

Phase 2 is anticipated to begin in 2026, with the third phase a few years after that.

The Housing Trust finalized the $3.5 million purchase of the 20-acre site for the project in December 2023, funding it with a $2.2 million loan from Frost Bank and approximately $1.3 million in equity.

Development firm BFC Partners held the grand opening of The Pearl, a 100% affordable housing project located at 475 Bay St. in Stapleton, Staten Island. The 270-unit project is the first to open under the Bay Street Corridor Neighborhood Plan, intended to provide affordable housing, public open spaces, local retail and small businesses and job opportunities for residents in the community.

The development received support from key city and state programs, including NYS Homes and Community Renewal, New York City Department of Housing Preservation and Development, Extremely Low & Low-Income Affordability Program and the Voluntary Inclusionary Housing Program. Financing was provided by Wells Fargo and the Urban Investment Group at Goldman Sachs Alternatives. 

“As a native Staten Islander, I am incredibly proud to bring community-centered, urban development solutions to our borough,” said Joseph Ferrara, principal of BFC Partners. “Securing essential housing for those in need is deeply rewarding, and the opening of The Pearl marks a significant step toward inclusivity, demonstrating our commitment to accessible housing for all.”

Holladay Ventures and Evergreen Real Estate opened Shelby House, a 195-unit affordable housing community. Additionally, Holladay and Evergreen announced the groundbreaking of the project’s second phase, 4th & Shelby, a mixed-use development adjacent to Shelby House, which will bring an additional 289 units of affordable housing in 2026. In total, both projects will provide 484 affordable housing units to the Nashville community.

Phase two of the project will feature energy-efficient appliances and solar panels. Apartments at the two locations are reserved for families earning between 30 and 80% of the Area Median Income.

Samaritan Recovery Community(SRC) partnered with Holladay Ventures and Evergreen Real Estate. PNC Bank also participated in the project.

Holladay says it specializes in developing workforce, affordable, and mixed-income housing solutions that are not only intentionally designed but also positively impact local residents and the environment. 

A new affordable housing community from Dominium, 900 at Cleveland Park, will open this month in Nashville. Located on Dickerson Pike, the 256-unit development will serve families in East Nashville. The $90 million development is Dominium’s second in Tennessee. Freddie Mac TEL, serviced by Greystone, JP Morgan Chase, and Polaris Capital, were key financial players in the deal. The affordable community is supported by the Section 42 Low-Income Housing Tax Credit program.

The property comprises seven studio apartments, 153 one-bedrooms, 65 two-bedrooms and 31 three-bedroom units. Amenities include a fitness center, clubhouse, rooftop terrace overlooking Downtown Nashville and dog park.

900 at Cleveland Park is situated in one of Nashville’s fastest-growing corridors. Residents are less than 3 miles from Downtown Nashville and near the Cumberland River, the Nissan Stadium and dining, retail and entertainment options.

Housing Trust Group (HTG) and AM Affordable Housing closed on financing and commenced construction on Courtside Apartments II, a $58 million affordable apartment community comprised of 120 units in Miami’s historic Overtown neighborhood. Phase I wrapped up in 2016.

Apartments at Courtside Apartments II are for residents who earn at or below 50, 60, and 70 percent of the area median income (AMI). Monthly rents will range from $985 to $3,092. Leasing is expected to begin in fall 2025, with completion scheduled for Q1 2026.

Located at 1698 NW 3 Ave. and 1501 NW 4 Ave., Courtside Apartments II offers residents amenities such as a clubhouse with a media center, fitness center, dog park, and bike storage.

Funding sources include a construction loan (JPMorganChase), Low-Income Housing Tax Credits (LIHTC) equity syndicated through Truist Bank, a permanent loan (Grandbridge Real Estate Capital), a bridge loan from JPMorganChase, and four loans from various government agencies.