HFA News
Brookline Housing Community for Lower-Income Senior Citizens Will See Extensive Renovations and the Extension of Affordability with $25 Million in MassHousing Financing
MassHousing has provided $25 million in financing to the Brookline Housing Authority (BHA) to provide significant improvements to the 99-unit Morse Apartments and extend the affordability for lower-income senior citizens living there for at least 75 years. MassHousing is supporting the rehabilitation of Morse Apartments with $25 million in short and longer-term financing through the Agency’s Conduit Loan Program.
DCHFA Funds the Construction of a Second Assisted Living Community
The DCHFA is financing the construction of Ward 7’s first assisted living community, The Residences at Kenilworth Park. On August 28, DCHFA issued $58 million in bond financing and underwrote $20 million in four percent low income housing tax credit (LIHTC) for this 157 apartment development. “At DCHFA we finance affordable housing solutions for District residents at all stages in their lives. We are fully committed to supporting seniors and welcome this opportunity to invest in affordable assisted living with on-site support services east of the river, which will allow residents to age in place,” stated Christopher E. Donald, Interim Executive Director.
CalHFA Introduces New Bond Recycling Program
The California Housing Finance Agency has launched a new Bond Recycling Program which will provide an additional source of financing to address our state's affordable housing crisis. CalHFA's program, the first of its kind in California, is made possible through a partnership with Apple. "Working alongside Apple, we looked at California’s housing landscape - the dangerously low affordable housing supply and the rising cost to build while state and federal resources get increasingly scarce - and endeavored to address that issue," said CalHFA Executive Director Tia Boatman Patterson.
Affordability Extended for Lower-Income Senior Citizens at Randolph Housing Community as a Result of $27.3 Million in MassHousing Financing
MassHousing has provided $27.3 million in affordable housing financing to an affiliate of Hebrew SeniorLife to renovate and extend the affordability for lower-income senior citizens at the 160-unit Simon C. Fireman Community in Randolph. “The residents who live at the Fireman Community are seniors who share many experiences and interests, and we are very pleased that life will continue as usual for them long into the future,” said MassHousing Executive Director Chrystal Kornegay.
WHEDA Expands Financing Options for Homebuyers
The Wisconsin Housing and Economic Development Authority has expanded its single-family financing options to help more Wisconsin residents achieve the dream of homeownership. The new financing options include loans with increased down payment assistance of up to 6% of a home’s purchase price and an expanded number of lenders that may originate WHEDA Advantage FHA loans. Meanwhile, the current shortage of move-in ready homes has increased the utility of WHEDA’s Homestyle Renovation loans, which allow borrowers to finance all costs associated with purchase and renovation through a single 30-year, fixed rate mortgage loan.
MassHousing Closes on $17. 2 Million in Financing for the Acquisition and Initial Renovation of Three Affordable Housing Communities in Attleboro
MassHousing has closed on $17.2 million in affordable housing financing to the non-profit Preservation of Affordable Housing (POAH) for the acquisition and initial rehabilitation of three affordable housing communities in Attleboro. To facilitate the acquisition and the undertaking of the most pressing capital improvements at the properties, MassHousing has provided POAH with $5.9 million in financing for the 83-unit Hebronville Mill, and $11.3 million for the 144-unit combined Gardner I and II properties.
Application Period Now Open for NJHMFA’s Small Landlord Emergency Grant Program
The New Jersey Housing Mortgage and Finance Agency (NJHMFA) today announced that the application period for the Small Landlord Emergency Grant (SLEG) Program is now open. NJHFMA, whose mission is to increase the availability of and accessibility to safe, decent, and affordable housing to families in New Jersey, developed the SLEG program to reimburse small landlords for missed or reduced rent payments between April 2020 and July 2020 due to COVID-19. The SLEG is open to owners of residential properties in New Jersey with 3 to 10 rental units.
RIHousing Launches Mortgage Payment Assistance Program to Help RIers
RIHousing today announced $2 million in available mortgage payment assistance funding through the federally-funded Hardest Hit Fund Rhode Island (HHFRI) program. The new program provides financial assistance to Rhode Island homeowners negatively impacted by the COVID-19 pandemic and struggling to make their mortgage payments. Borrowers must have experienced unemployment or underemployment due to the COVID-19 pandemic to be eligible.
RIHousing Announces Inaugural Michael Van Leesten Awards Program
RIHousing today announced a new awards program to honor the life and work of Michael Van Leesten. Born and raised in Providence, Van Leesten was dedicated to improving the lives of Rhode Islanders through his business leadership, civil rights activism, and public service. The newly established Michael Van Leesten Memorial Awards program honors his lifelong commitment to housing and education and includes both a scholarship program and fellowship position.
