The Hogan administration today celebrated the one-year anniversary of the launch of the Maryland SmartBuy 2.0 initiative. Managed by the Maryland Department of Housing and Community Development (DHCD), this nationally recognized homeownership program enables prospective homebuyers to eliminate up to $40,000 in student loan debt while purchasing an eligible home through the Maryland Mortgage Program.
RIHousing’s Board of Commissioners approved funding awards totaling approximately $4.7 million to revitalize neighborhoods in Pawtucket and Providence. The awards will fund 92 homes and five new public facilities with 110,222 square feet of new commercial space. The funding is allocated via the state Acquisition and Revitalization Program (“ARP”).
Peabody Housing Community in Danger of Converting to Market Rates Will Remain Affordable for Lower-Income Residents for at Least 45 Years as a Result of $49.3 Million in MassHousing Financing
MassHousing has closed on $49.3 million in affordable housing financing to WinnCompanies to preserve affordability for lower-income households at The Tannery in Peabody. WinnCompanies purchased the 284-unit affordable housing community under Chapter 40T, preventing the conversion of affordable apartments to market rates and protecting the tenancies of dozens of low-income residents.
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.
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.
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’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.
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.
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.