HFA News
PHFA Accepting Bids for the Purchase of Additional Mixed-Use Development Tax Credits
The Pennsylvania Housing Finance Agency announced today that it is accepting bids for the purchase of an additional $1 million in mixed-use development tax credits. An earlier round of tax credit bidding closed on June 14. The funds collected from successful bidders will be used for the construction or rehabilitation of mixed-use developments in Pennsylvania communities.
PHFA Announces Funding to Help Rehabilitate Erie’s Boston Store Place
The Board of Directors of the Pennsylvania Housing Finance Agency today approved $1 million in funding for rehabilitation of Boston Store Place at 716-18 State Street in Erie. The property is located in the heart of downtown Erie with convenient access to employers, transportation and health care. The building, which includes both retail and housing space, has been in decline in recent years.
PHFA Announces Funding to Redevelop Mixed-Use Building in Homewood
The Board of Directors of the Pennsylvania Housing Finance Agency today approved $600,000 in funding to redevelop a building at 627 N. Homewood Avenue in Homewood. The property is located in a crucial commercial corridor in the heart of the Homewood neighborhood in Pittsburgh. The three-story, 6,460 square foot structure, which currently is vacant, is known as the James T. Givner Building, named after a longtime community champion.
RIHousing Creates More than 600 Homes, Supports Nearly 700 Jobs
RIHousing’s Board of Commissioners approved investments at its June Board meeting that will attract private investments of more than $34 million, create 610 homes, significantly improve the neighborhoods where they are located, and support almost 700 jobs. Funding awards were approved for developments located in East Greenwich, North Providence, Pawtucket, Providence, Scituate and Woonsocket.
MassHousing Closes on $22.8 Million to Create 23 New, Affordable Apartments, and to Renovate and Preserve the Affordability of 65 Existing Units, in Cambridge
MassHousing has closed on $22.8 million in affordable housing financing to the non-profit Just-A-Start Corporation (JAS) for the new construction of 23 apartments and the renovation and preservation of affordability of 65 existing apartments in Cambridge. JAS is combining the 45-unit Linwood Court and 20-unit Squirrel Brand affordable housing communities and will construct 23 new affordable units on a portion of its Linwood Court property.
NJHMFA Marks Opening of Affordable, Supportive Apartments for Veterans in Hoboken
American Legion Veterans Affordable Housing, which will provide affordable supportive homes for six homeless veterans and was funded in part by the New Jersey Housing and Mortgage Finance Agency (NJHMFA), celebrated its opening with a ribbon cutting Monday joined by NJHFMA Executive Staff, U.S. Senator Robert Menendez, local officials and the developer, American Legion Hoboken Post No. 107.
CalHFA Helps Record 11,000th Homebuyer in One Year
Coming up with a down payment has become one of the biggest barriers to homeownership in California and across the nation, and the California Housing Finance Agency (CalHFA) is helping thousands of Californians overcome that barrier. The Agency helped more than 11,000 low- and moderate-income residents buy their first homes in Fiscal Year 2018-19, the most ever in its 44-year history.
NJHMFA Drops Mortgage Rates to 4.49% for First-Time Homebuyers
With a busy home buying season underway, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) has cut the interest rate on its First-Time Homebuyer Mortgage, making it more competitive. NJHMFA mortgages paired with the Agency’s down payment assistance program have already opened the door of homeownership to more than 2,000 New Jersey residents since 2017.
Construction is Underway for the Renovation of the 285-Unit Millers River Apartments Affordable Housing Community in Cambridge with the Closing of $82 Million in MassHousing Financing
MassHousing has provided $82 million in financing to the Cambridge Housing Authority (CHA) for the extensive renovation of the Millers River Apartments, a 285-unit affordable housing community serving lower-income households in Cambridge. The transaction will also enable the CHA to extend affordability for the life of the property. MassHousing is supporting the rehabilitation of Millers River with $82 million in financing through the Agency’s Conduit Loan Program.
