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.
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.
MassHousing Closes on $33.1 Million in Financing for the Extension of Affordability and Property Rehabilitation at the 131-Unit Haynes House in Roxbury
MassHousing has closed on a total of $32.8 million in affordable housing financing to the Madison Park Development Corporation (MPDC), for the preservation of affordability and property rehabilitation at the 131-unit Haynes House in Roxbury. The MassHousing refinancing will extend affordability for households with a range of incomes in perpetuity, following the expiration of previous affordability restrictions with the maturation of the property’s former Section 13A mortgage in 2017.
A ribbon-cutting ceremony on Tuesday celebrated the opening of North Brunswick Crescent Apartments which provide 184 apartments affordable to working families and were financed in part by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). The $31.8 million project involved the rehabilitation of the former Oak Leaf Village Apartments, a market-rate community of 16 two-story buildings originally built in the early 1970s off Route 27 and How Lane.
The Renaissance at Asbury Park, a new development of 64 apartments affordable to working families and retail space in the Springwood Avenue neighborhood, celebrated its grand opening today as a key part of the area’s continued redevelopment. The event was attended by New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director Charles A. Richman, local officials and representatives of The Michaels Organization.
The California Housing Finance Agency (CalHFA) is pleased to announce that Standard & Poor’s Global Ratings has raised CalHFA's Issuer Credit Rating from 'A+' to 'AA-' with a Stable Outlook. This returns CalHFA’s Issuer Credit Rating to the same level as prior to the collapse of the housing market during the Great Recession and is the third ratings upgrade during the tenure of Tia Boatman Patterson, CalHFA’s Executive Director.
Today, RIHousing announces the release of a Request for Proposals (RFP) for the redevelopment of the Barbara Jordan II apartments. Barbara Jordan II is a housing development in Upper South Providence which includes 26 two- and three-story apartment buildings situated on scattered sites totaling 2.75 acres. The 26 buildings contain a total of 74 apartments, all of which are currently vacant.
Cornerstone at Seaside Heights, a community of new apartments affordable to residents age 55 and older, celebrated its grand opening Wednesday joined by New Jersey Housing and Mortgage Finance Agency (NJHMFA) executive staff, local officials and The Walters Group. The complex was built in part with Superstorm Sandy recovery funding and other financing from NJHMFA.
State and local officials, including New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director Charles A. Richman, today celebrated a ribbon-cutting ceremony marking the opening of Walker House, which involved the transformation of the historic New Jersey Bell building into a mixed-use, mixed-income development. The restoration provides 264 apartments, including 53 which are affordable for families earning between 40 and 50 percent of the area median income as well as office and ground-floor retail space.