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HFA News

Hurricane Michael Homeownership Funding Completely Committed in Less than Four Months

In less than four months, a total of $5 million in down payment (DPA) and closing cost assistance has been committed to assist more than 335 homebuyers through Florida Housing Finance Corporation’s (Florida Housing) new homeownership programs in the following Hurricane Michael impacted counties: Bay, Calhoun, Franklin, Gadsden, Gulf, Holmes, Jackson, Liberty, Taylor, Wakulla and Washington.

LHC Partners with City of New Orleans for Vital Affordable Housing Projects

The city of New Orleans is moving forward with $28 million in vital affordable housing development projects with financing through the Louisiana Housing Corporation. The projects, funded through a combination of federal grant dollars and affordable housing tax credits, will create 642 residences to help meet a critical need for workforce housing in New Orleans.

State OKs $35M for Housing

The Florida Housing Finance Corporation Board of Directors has unanimously approved funding four workforce housing projects in Monroe County, as part of a housing strategy implemented after Hurricane Irma. In July, the Florida Finance Housing Corp. started an application process, offering $25 million of the Rebuild Florida Workforce Housing Program for the construction of workforce housing in Monroe County.

RIHousing Issues Inaugural Sustainability Bonds to Support Affordable Housing

RIHousing announced the issuance of $73.6 million of new bonds, the first ‘Sustainability Bonds’ to be offered by the agency. The sale of the bonds will fund the acquisition and rehabilitation of 752 rental homes for low and moderate-income Rhode Islanders. “Rhode Island is leading in the fight against climate change. Here in the Ocean State, we’re committed to reducing our energy consumption and protecting our natural resources,” said Stefan Pryor, Rhode Island Secretary of Commerce.

Chris Flannery Joins VHFA as Chief Financial Officer

Executive Director Maura Collins announced that Vermont Housing Finance Agency (VHFA) has selected Chris Flannery as its new Chief Financial Officer (CFO), following an extensive national search. Flannery comes to VHFA from Oak Ridge Financial in Minneapolis, where he served as Managing Director, Structured Finance. Prior to working at Oak Ridge, Flannery served as VHFA’s Financial Advisor from 2005 to 2017 while working at Piper Jaffray in Minneapolis.

MassHousing Closes on $66.1 Million in Financing for the Third Phase of the Redevelopment of the Anne M. Lynch Homes at Old Colony in South Boston

MassHousing has closed on $66.1 million in affordable housing financing to affiliates of Beacon Communities LLC, to advance the redevelopment of obsolete public housing at the Anne M. Lynch Homes at Old Colony in South Boston. Originally constructed in 1940, Old Colony is one of the oldest federal public housing developments in the country and is one of the most distressed properties in the Boston Housing Authority’s (BHA) federal portfolio.

MassHousing Closes on $22.7 Million to extend Affordability for 50 Years, Make Property Renovations, and Add Four New Units, at Holyoke Housing Community

MassHousing has closed on $22.7 million in affordable housing financing to an affiliate of Maloney Properties, for the rehabilitation of the Holyoke Farms affordable housing community in Holyoke. The MassHousing financing will allow Maloney Properties to undertake substantial property renovations, and to construct 12 new apartments at the 229-unit development. As part of the financing transaction, Maloney Properties will extend affordability at the property for at least 50 years.

Developers Mark Completion of Dacotah Ridge Redevelopment

Affordable Housing Developers Inc. (AHDI) and its development partner, Mountain Plains Equity Group (MPEG), marked the completion of the Dacotah Ridge Apartments redevelopment today by hosting an Open House. AHDI purchased the property from The ARC of Dickinson in 2017. Local, state and federal dollars supported the acquisition and rehab of the rental property that is occupied primarily by elderly and disabled households.

Ribbons Cut on New Affordable Apartments in Barrington

Partners and elected officials gather to celebrate the completion of 46 new rental homes PROVIDENCE, RI – Congressman David Cicilline recently joined state and local officials, representatives of...