HFA News
NJHMFA Marks Groundbreaking for Next Phase of Affordable Apartments in Camden
A groundbreaking today, attended by New Jersey Housing and Mortgage Finance Agency (NJHMFA) executive staff, kicked off construction of 75 affordable rental apartments for families as part of the next phase of the redevelopment of a former public housing site in the city’s Centerville neighborhood. Branch Village Townhomes II is the third phase of the Branch Village comprehensive revitalization of the site of the former Clement T. Branch Village.
Lt. Governor Boyd K. Rutherford Delivers Opening Remarks at Opportunity Zones Conference
Lt. Governor Boyd K. Rutherford, chair of the Maryland Opportunity Zone Leadership Task Force, today delivered opening remarks at the second Maryland Opportunity Zones Conference. Hosted by the Maryland Department of Housing and Community Development at the Turf Valley Resort in Ellicott City, the conference provided an opportunity for attendees and potential investors to learn more about the program and its incentives, as well as additional state incentives and current Opportunity Zone success stories in Maryland.
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.
DCHFA Ends FY 2019 Preserving Affordable Housing through its Risk Share Program
DCHFA closes Fiscal Year 2019 by funding the preservation of 195 affordable apartments through the Agency’s HUD Level I Risk Share program. On September 27, DCHFA issued $25 million in bond financing and underwrote $15.3 million in low income housing tax credit equity for the rehabilitation of Randle Hill Apartments in the Congress Heights neighborhood of Ward 8.
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.
