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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.
A New Approach on Housing Affordability
A growing number of Americans are struggling to cope with the high and rising cost of rental housing in the United States. On any given night last year, more than half a million Americans were...
HUD Makes Record $2.3 Billion Available to Support Thousands of Local Homeless Programs
WASHINGTON - In a continuing effort to prevent and end homelessness, the U.S. Department of Housing and Urban Development (HUD) today is making a record $2.3 billion available to support thousands of...
HUD Offers $150 Million to Provide Affordable Housing to People With Disabilities
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) is offering $150 million in grants to provide affordable housing to approximately 18,000 non-elderly persons living with...
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.
NCSHA Washington Report | June 28, 2019
“Escalation of land prices adds an ever-bigger increment in the price of housing, and further explains the squeeze on low-income families seeking decent housing. Zoning was intended to...
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.
President Trump Signs Executive Order Establishing Council Focusing on Regulatory Barriers to Affordable Housing
On June 25, President Trump signed an Executive Order to establish the White House Council on Eliminating Barriers to Affordable Housing Development, headed by Secretary of Housing and Urban Development Ben Carson with members including the Secretaries or their designees from the departments of Treasury, Agriculture, Transportation, Energy, Labor, and Interior, and the Environmental Protection Agency.
Bipartisan Congressional Leaders Introduce Bill to Address Loss of Housing Credit Properties to Qualified Contracts
Today, Senators Ron Wyden (D-OR) and Todd Young (R-IN) and Representatives Joe Neguse (D-CO), Don Beyer (D-VA), and Jackie Walorski (R-IN) introduced the Save Affordable Housing Act of 2019, which would significantly reduce, and ultimately eliminate, the loss of Low Income Housing Tax Credit (Housing Credit) properties before the end of their affordability periods due to qualified contracts. Senators Benjamin Cardin (D-MD) and Sherrod Brown (D-OH) joined Senators Wyden and Young as original cosponsors of the Senate bill. NCSHA strongly supports this legislation.
JCHS Report Sheds Light on Lack of Affordable Housing Production
Harvard University’s Joint Center for Housing Studies on Tuesday released its annual report, “The State of the Nation’s Housing 2019.” The report examines the state of the housing market in 2018, finding that, while it improved in many respects over the previous year, including household growth and formations, the continued — and worsening — production shortfall has led to an increasing number of low- and moderate-income families who lack access to affordable housing options.
