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Opportunity Zone Target Investment Surges to Nearly $43 Billion Nationwide
WASHINGTON, DC — The amount of capital targeted for investment in designated Opportunity Zones increased dramatically over the past month, according to analysis by the National Council of State...
Opportunity Zone Target Investment Surges to Nearly $43 Billion Nationwide
The amount of capital targeted for investment in designated Opportunity Zones increased dramatically in the past month, according to analysis by NCSHA based on the most recent edition of its Opportunity Zone Fund Directory, released today. The 163 funds included in the current directory expect to raise nearly $43 billion in Opportunity Zone investment, up from $29 billion last month and nearly triple the amount anticipated at the start of 2019. This directory includes 20 new funds and details on fund size and geographic and investment focus for all the funds listed.
CalHFA Makes Preliminary Mixed-Income Program Awards to Eight Developments
The California Housing Finance Agency has made preliminary awards to eight mixed-income multifamily housing developments to use $40 million in Senate Bill 2 funds. When constructed, these housing developments will serve 1,379 low to moderate income California families. Senate Bill 2, the Building Homes and Job Act, was authored by Senate pro Tempore Toni Atkins and signed into law by former Governor Edmund G. Brown Jr. as part of 2017’s historic package of housing legislation.
Funding Available for the Development of Affordable Housing
South Dakota Housing Development Authority (SDHDA) announces approximately $15.3 million is available for funding during the 2019 application cycle for the HOME Investment Partnerships, Housing Tax Credit, Housing Opportunity Fund and Housing Trust Fund programs. Funding can be utilized to assist communities in addressing their local housing needs.
Hogan Administration Celebrates Anniversary of SmartBuy 2.0
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 Funding Approvals Revitalize Blighted and Vacant Properties
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.
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.
NCSHA Washington Report | July 12, 2019
When architect Dan Parolek coined the term “missing middle housing” in 2010, he was referring to types of buildings whose form falls between that of the typical detached...
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.
