FALLS CHURCH, VA – NexCore Group, a privately-owned diversified healthcare real estate development, investment, and management company with a national footprint spanning 29 states, and its vertically-integrated senior housing operator, Experience Senior Living (ESL), proudly announce the start of construction of The Reserve at Falls Church, located in the West Falls neighborhood. The new 15-story community features 215 elegantly appointed homes, including a one-of-a-kind penthouse level. This community is the eighteenth senior living development for NexCore and ESL and the second development in The Reserve Collection, the company’s luxury line of senior communities.
“Breaking ground on The Reserve at Falls Church reflects NexCore’s steadfast belief in the future of senior living. As today’s aging demographic continues to grow, we are focused on developing communities that meet their evolving needs, offering modern spaces that foster independence and connection. We are driven by the opportunity to create meaningful, purpose-driven environments that enrich the lives of those who call them home.” Stated Jarrod Daddis, President of NexCore Group.
NexCore partnered with an affiliate of Nuveen Real Estate to capitalize the project. This is the third ground-up senior living development project on which both companies have collaborated. “The Reserve at Falls Church aligns with Nuveen’s focus for developing state-of-the-art senior living communities for the next generation of seniors in high-barrier-to-entry submarkets like Falls Church,” noted Andrew Pyke, Head of Healthcare Real Estate at Nuveen. “We are excited to partner again with a first-class developer in NexCore and an operator in ESL to bring this project to the greater DC community.”
The Reserve at Falls Church offers an unparalleled host of high-end amenities for residents. Dining options will feature certified organic ingredients and will be available from multiple restaurants within the community, including a chophouse, a seafood restaurant, an oyster bar, and a cocktail lounge. Other amenities include an indoor saltwater pool and spa, a state-of-the-art fitness center, and an expansive maker space designed for creative expression and lifelong learning. The community will also offer concierge services, valet parking, and electric vehicle transportation options.
“We’re excited to bring The Reserve at Falls Church to life and are thrilled to be able to offer our award-winning continuum of care, allowing residents of Falls Church to remain close to their friends and family and enjoy the lifestyle they’ve grown accustomed to,” said Phill Barklow, President of Experience Senior Living. “The Reserve is the pinnacle of luxury among senior communities and offers more than just a place to live—it’s a community of connection and purpose where residents can enjoy elevated living, unparalleled care, and a deep sense of connection to their community.”
The Reserve at Falls Church seamlessly integrates into West Falls, a multiphase, mixed-use, transit-oriented neighborhood. Spanning 1.2 million SF across nearly 10 acres of land, West Falls is the largest development in the city’s history. West Falls serves as a gateway to the city and a vibrant gathering place for all, featuring modern residences at The Oak and The Alder, curated retail and dining, Home2 Suites by Hilton, The Wellness Center, a medical office building, and The Commons, the neighborhood’s central outdoor gathering space. Hoffman & Associates, the master developer of West Falls, is a nationally recognized leader in both residential and mixed-use development across the Mid-Atlantic and Southeast.
The Reserve at Falls Church, expected to open in the spring of 2027, is NexCore’s second senior living development in Virginia and expands ESL’s operating presence in the state.

CHARLOTTE, NC – Thompson Thrift, a full-service nationally recognized real estate company, announced the sale of Taylor Farms, a 276-unit, Class A multifamily community 20 minutes from Uptown Charlotte. The Northmarq team led by John Currin, Andrea Howard, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson brokered the sale to Atlanta-based Mesa Capital Partners.
“Taylor Farms was our first multifamily community in the Carolinas and we were fortunate to capitalize on its prime location to bring a high-quality community to one of the nation’s hottest rental submarkets,” said Josh Purvis, managing partner for Thompson Thrift Residential.
John Currin, senior vice president, Northmarq, continued, “Taylor Farms was one of Charlotte’s most competitive 2024 marketing campaigns due to Thompson Thrift’s strong national reputation as a high-quality developer and Northeast Charlotte’s economic growth trajectory that continues to outperform other submarkets in the MSA.”
Located just off of I-485 and Mallard Creek Road in the University City submarket, the 16-acre Taylor Farms features 276 apartment homes in eight three-story, garden style structures and 64 detached garages.
Completed in December 2023 and already reaching stabilization, each of the one-, two- and three-bedroom layouts are well-appointed with premium finishes, including gourmet bar-kitchens with quartz countertops, stainless-steel appliances, smooth glass cooktop stoves and under cabinet lighting; primary bedrooms with walk-in closets and a walk-in shower with full tile surround and glass doors; and full-size washers and dryers.
Additionally, residents enjoy resort-style amenities, including a professionally designed clubhouse with TVs, conference rooms, technology centers and more; a 24-hour fitness center with state-of-the-art equipment and Fitness On Demand virtual training kiosks and spinning rooms; a swimming pool with hot tub and sundeck, entertainment areas and pet-friendly bark parks and doggie spas.
With its convenient location near the I-485/I-85 interchange, Taylor Farms offers easy access to over 3,000 northeast corridor businesses and the popular PNC Music Pavilion and the world-famous Charlotte Motor Speedway are both minutes away.
Equity for the development was provided by the Watermark 2021 Multifamily Development Fund III LP.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

RICHMOND, VA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the topping out of Chasen, a 352-unit, multifamily community development in Richmond, Virginia’s Scott’s Addition qualified opportunity zone. The development, funded by equity raised by CSRA Opportunity Zone Fund VII, LLC, broke ground in April 2023 and is the fifth opportunity zone development the company has topped out in Scott’s Addition during the past four years.
“Capital Square would like to thank the many investors and financial advisors across the nation who had the foresight to invest in Capital Square’s fifth opportunity zone fund in Scott’s Addition,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By investing in this manner, investors are able to defer and exclude capital gains from the sale of any asset. The tax benefits incentivize investors to fund new developments that generate meaningful economic activity, new jobs and tax revenue for localities. This is a win-win for all the parties.”
Upon completion, the community will include three six- and seven-story adjoining multifamily buildings above podium parking comprised of studio, one-, two-, and three-bedroom apartments with over 5,350 square feet of ground-level retail space. Units will average 845 square feet in size with premium finishes and appliances including quartz countertops, tile backsplashes and luxury vinyl plank flooring throughout. Resident move-ins are anticipated to begin at the property, located at 2929 W. Clay St., 2922 W. Marshall St., and 2925 W. Marshall St., in summer 2025.
Community amenities will include a resort-style saltwater pool, lounge and golf simulator, fitness club with studio, co-working lounge with private offices, pet spa, bike storage and repair, lush courtyards and a rooftop lounge with outdoor terrace, among others. Residents will be within walking distance of arts, cultural and lifestyle amenities provided by the Scott’s Addition neighborhood, which contains over 51 retail, dining and entertainment venues.
Established in 1901, Scott’s Addition is a historic area known for its food, drink and entertainment amenities, including 13 breweries, cideries, meaderies and distilleries. Once a hub for industrial buildings and businesses, Scott’s Addition is a dining and entertainment destination that was recently dubbed Richmond’s “craft beverage capital” by CNN. The area is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood and is now known as Richmond’sfastest growing neighborhood, according to the Greater Scott’s Addition Association.
The Chasen project team includes Timmons Group as civil engineer, Poole & Poole Architecture as building architect, Hourigan Construction as general contractor, ENV as interior designer and Marvel Designs as landscape architect, all locally based firms.
“The current economic environment has posed significant challenges to financing and construction costs for developments nationwide, which makes this topping out not only a milestone for the project but a testament to the hard work and collaboration of every individual involved,” said Whitson Huffman, co-chief executive officer. “The Capital Square team was able to persevere through these challenges and we look forward to delivering yet another luxury multifamily community to the Scott’s Addition qualified opportunity zone.”
Capital Square has been the most active developer within the Scott’s Addition neighborhood since 2020, having completed four Class A multifamily communities: INK at Scott’s Collection, VIV at Scott’s Collection, GEM at Scott’s Collection, and Otis, all within walking distance of one another. In total, Capital Square will have delivered more than 900 Class A apartment homes to the community upon completion of the CSRA Opportunity Zone Fund VII project. Otis, a 350-unit, mixed-use multifamily development, received the 2024 CoStar Impact Award for multifamily development of the year, as selected by an independent panel of local industry professionals.
Development of Chasen is funded with proceeds from CSRA Opportunity Zone Fund VII, LLC. According to an economic impact study recently completed by FTI Consulting, Capital Square’s Scott’s Addition-focused opportunity zone developments have generated significant economic and fiscal impacts, including the creation of approximately 1,500 construction jobs and 63 permanent full-time jobs as of April 2023. In turn, the developments have generated $9.7 million in annual state and local tax revenue during their construction phases and are projected to deliver $7.7 million in annual state and local tax revenues during their operational phases as of April 2023. Overall, Capital Square’s nine opportunity zone funds have initiated in excess of $870 million in gross asset value to date.

BRUNSWICK, GA – Material Capital Partners, a real estate development and investment management firm based in Charleston, SC, announced it has closed the project financing for River Ford, a 170-unit rental home community in Brunswick, Georgia.
River Ford is located on 28 acres at Canal Road, approximately 15 minutes from downtown Brunswick and St. Simons Island. The new development will consist of 170 detached single-family homes and a host of amenities including a clubhouse with fitness center, co-working space and a resort-style pool, two large central lakes with a fishing dock, large bark park, playgrounds, extensive trail system and a network of pocket parks and green spaces. Site work started earlier in the year and vertical construction is expected to begin in February 2025.
Brunswick, a vibrant coastal city located between Savannah, Georgia and Jacksonville, Florida, offers a unique blend of coastal beauty and modern amenities. Just minutes from the picturesque beaches of the Golden Isles, named the best U.S. islands by Travel + Leisure, Brunswick is known for its rich history, distinctive cuisine, and Southern hospitality. The city features historic squares, a charming downtown with boutique shops, fine dining, art galleries, nineteenth-century Victorian-style homes, and expansive views of golden marshes.
Brunswick is home to the Port of Brunswick, the nation’s second-busiest port for automobiles and heavy machinery. Following continued record growth, the Georgia Ports Authority is fast-tracking over $500 million in capacity expansion projects at the port, which will triple its capacity to approximately 1.4 million vehicles per year. This expansion is designed to support the growing electric vehicle manufacturing ecosystem across the Southeast and is expected to propel the Port of Brunswick past Baltimore to become the top U.S. automobile port by 2026.
The demand for housing in Brunswick has far outpaced the available supply and River Ford will provide a high-quality housing option in this thriving coastal community. This latest MCP build-for-rent community will offer the amenities and comforts of a single-family home lifestyle with the conveniences and flexibility associated with rental home living and professional property management. It is targeted at residents who choose to rent based on privacy, flexibility, work proximity and value premium amenities in a professionally managed community.
“We are excited to bring River Ford to Brunswick,” said Alex Chalmers, founder and managing partner of Material Capital Partners. “Our community will provide a differentiated community experience and offer residents a unique lifestyle that combines the convenience of a rental with the feel of a desirable neighborhood. It is well-positioned to capitalize on the strong growth trends in Brunswick.”
River Ford will be managed by Greystar with pre-leasing scheduled to begin in Spring 2025. Project financing was provided by Bluerock, Stanton Road Capital and MCP’s institutional construction lender. Construction will be handled by MCP’s dedicated builder partner Winchester Commercial Group.

FAIRFAX, VA – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the Residences at Government Center II during a ceremony with LAC leaders, local lawmakers and partners, including Virginia Housing, the Virginia Department of Housing and Community Development, the Fairfax County Redevelopment and Housing Authority (FCRHA) and Capital One.
The Residences at Government Center II will provide 279 high-quality, affordable homes for families in the Braddock District. Upon completion, this community will also feature a daycare center, providing a safe and convenient childcare option for residents.
U.S. Representative Gerry Connolly, who represents Virginia’s 11th District in Congress, spoke at the groundbreaking ceremony. Other speakers included Nick Bracco, Vice President, Lincoln Avenue Communities Lenore Stanton, Chair, Fairfax County Redevelopment and Housing Authority, Jeffrey C. McKay, Chairman, Fairfax County Board of Supervisors James Walkinshaw, Braddock District Supervisor, Fairfax County Board of Supervisors; and Kerrie Wilson, CEO, Cornerstones.
“Throughout my career, creating and preserving affordable housing has been a key priority. As a Congressman and the former Chair of the Fairfax County Board of Supervisors, I am thrilled to be a part of this innovative use of land to further the creation of affordable housing in our community,” said Rep. Connolly.
“Lincoln Avenue Communities is proud to begin construction on the Residences at Government Center II,” said Nick Bracco, Vice President, Lincoln Avenue Communities. “Once completed, this property will offer nearly 300 affordable homes with top-tier amenities to families and individuals in Fairfax County, where new affordable housing is strongly needed.”
“We are proud to welcome new affordable housing right here in our front yard at the Fairfax County Government Center. These new homes will ensure that more people have an equitable shot at building their own future, right here in Fairfax County,” said Jeff McKay, Chairman, Fairfax County Board of Supervisors.
“For years, I’ve felt that we could make better use of the sea of parking in front of the Fairfax County Government Center to help meet our affordable housing goals. I made the motion to convey the property to the FCRHA for that purpose, and today, we are seeing this concept come to fruition,” said James Walkinshaw, Supervisor, Braddock District, Fairfax County Board of Supervisors. “I look forward to welcoming 279 families to their new homes at this innovative complex in the Braddock District.”
“During the 2024 calendar year, we have come together to celebrate affordable housing groundbreakings or grand openings several times. Residences at Government Center II is another testament to our commitment to developing affordable housing in all corners of Fairfax County,” said Lenore Stanton, Chair, Fairfax County Redevelopment and Housing Authority.
“We are pleased to help bring affordable housing to Fairfax, just a short distance away from Capital One’s headquarters. This development builds on our relationship with Lincoln Avenue Communities and the work we have done to expand affordable housing in Fairfax, Miami, New Orleans and Richmond,” said Ed Delany, Senior Director for Community Finance at Capital One. “Capital One provided construction debt, LIHTC equity investments and permanent Freddie Mac loans, including structuring and closing Freddie Mac’s first Forward Bond Credit Enhancement in just 90 days to meet the closing timeline.”
“Residences at Government Center II is a perfect example of taking underutilized land and creating something beautiful to support the community,” said Director, Production Patricia Mao Booker at KTGY. “Our architects carefully designed around the surrounding environment to enhance the pedestrian experience for this mixed-use affordable housing complex. We’re proud to support low-income families in Fairfax with this new, beautifully designed community.”

PORTLAND, OR – Security Properties announced the opening of Splash Apartments, a 219-unit multi-family residential community in Portland’s Kerns neighborhood. The property welcomed its first residents on Oct. 25, 2024, shortly after Time Out recognized Kerns as “America’s Coolest Neighborhood.”
Splash marks the first phase of the Pop Blocks, a master-planned development at the historic site of the former Pepsi Distribution Center. Situated at 875 NE 27th Ave. along Sandy Boulevard, the community is just steps from some of Portland’ most beloved restaurants, breweries, parks, and shops – making it an ideal choice for connected urban living.
“We’re thrilled to be bringing this exciting community to the Kern’s neighborhood after years of planning and construction,” said Sarah Zahn, Senior Director of Development. “With the completion of the public plaza on NE Sandy, we hope Portlanders stop by and join us in welcoming residents to Splash Apartments.”
The property offers multiple unit types to suit a variety of lifestyles, including two-story townhomes, live / workspaces, studios, urban one-bedrooms, and expansive layouts such as one-bedrooms with a den, two-bedrooms, and three-bedrooms. Each residence is thoughtfully designed with chef-inspired kitchens, modern finishes, and energy efficient heating and cooling. The secured underground parking garage offers 194 total spaces with 40 type II electric vehicle charging stations.
Community amenities feature a rooftop lounge with sweeping views, outdoor terraces equipped with BBQs, coworking spaces, secure bike storage, and a pet spa with grooming stations. A highlight of the development is the thoughtful integration of art throughout the public spaces. Splash’s vibrant public plaza is graced by water features, ample seating, and the striking 20-foot-tall namesake sculpture, “Splash,” created by internationally renowned artist Michael Benisty.

NORTH SAINT PAUL, MN – The North St. Paul community celebrated the grand opening of the highly anticipated Article No. 7 apartment building, a new residential development that promises to transform the housing landscape in North Saint Paul. Developed by Tareen Development Partners, the building marks a significant milestone in the city’s ongoing efforts to promote high-quality housing options for residents.
The grand opening event attracted local officials, community members, builders, architects, designers, and stakeholders, all eager to witness the unveiling of this state-of-the-art apartment complex. Mayor John Monge and City Council members expressed their enthusiasm and support for the project, highlighting its potential to enhance the community’s vibrancy and livability.
“Article No. 7 represents our commitment to providing modern and comfortable housing solutions for local residents,” said Basir Tareen, Owner of Tareen Development Partners. “We are proud to partner with the city of North Saint Paul to bring this vision to life, and we look forward to its positive impact on the community.”
Bauer Construction was a vital partner in the project, ensuring that the development was completed with the highest quality standards. Momentum Design Group collaborated closely with Tareen Development Partners to design a building that not only meets the needs of future residents but also fits seamlessly into the historic character of North Saint Paul.
The Article No. 7 apartment building features a range of amenities, including spacious living units with high ceilings and modern design, community gathering spaces, and environmentally friendly design elements that promote sustainable living. The complex offers unique “live-work units” along with a variety of floor plans for studio, one-bedroom, and two-bedroom apartments. This development is set to attract a diverse group of residents, contributing to the economic growth in the area.
As North Saint Paul continues to grow and evolve, the Article No. 7 apartment building stands as a beacon of progress. It offers residents a new-era style of living while fostering a sense of community in the historic area just down the street from the well-known Mac’s Diner and next to the local post office.

PHOENIX, AZ – National multifamily developer Wood Partners has expanded its footprint in Phoenix with the opening of two new properties, Alta Avondale and Alta Rise. These multifamily developments will bring more than 630 units to the fifth-largest metro in the country.
“The Phoenix metro’s rapid growth presents a unique opportunity for Wood Partners to play an active role in supporting the city’s expansion,” said Todd Taylor, Managing Director at Wood Partners. “We’re committed to delivering thoughtfully designed, amenity-rich properties that enhance the quality of life for our residents and contribute to the continued success of the greater Phoenix community.”
Alta Avondale is a 360-unit project on 14 acres of land located in The BLVD in Avondale, a vibrant mixed-use destination offering an array of eateries, entertainment, shopping and recreation. The three- and four-story complex sits just south of Interstate 10, allowing easy access across both the West Valley and metro Phoenix. Alta Avondale is also minutes from State Farm Stadium, Desert Diamond Casino and the Westgate Entertainment District. In addition to the neighborhood offerings, the apartment community features a state-of-the-art fitness center, a speakeasy, a pickleball court, co-working spaces with private offices, private garages, a dog park and a skydeck with mountain views. Alta Avondale includes a mix of studio, one-, two- and three-bedroom apartment layouts and is expected to be fully completed in January 2025. The community features white quartz countertops, stainless Whirpool appliances, Moen plumbing fixtures, and is now leasing with over 200 units available.
Alta Rise includes 278 units across two four-story and two three-story buildings featuring a mix of studio, one-, two- and three-bedroom apartment layouts. The multifamily complex is located on the corner of Elliot and McQueen in the northwest corner of the Town of Gilbert, less than 10 minutes from both downtown Gilbert and downtown Chandler. Additionally, the property sits five minutes south of US-60 and less than ten minutes east of Loop 101, offering direct access to the Southeast Valley and metro Phoenix. Alta Rise features a state-of-the-art fitness center, a speakeasy, a skydeck, two pickleball courts, coworking spaces, storage units, private garages, a multipurpose field, a food truck courtyard, a dog park and a pet spa. The luxury development also has a clubhouse for residents, including a large pool and hot tub, secondary courtyards with barbecues, fire pits, games, hammocks and micro fitness rooms for increased privacy. Residents will find white quartz countertops, stainless GE appliances, gas ranges and wine fridges in select units. The development is expected to be completed in early 2025.
Earlier this year Wood Partners announced the start of construction on Alta Dove Valley, a 380-unit multifamily building located across the interstate from the Taiwan Semiconductor Manufacturing Company’s new $65 billion semiconductor fabrication facility in North Phoenix. Additionally, Wood Partners broke ground on Alta 87 in March. The 257-unit luxury multifamily development is located in Gilbert and features a pool and spa, a two-story clubhouse, two pickleball courts and more.

NEW YORK, NY – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of a 22-property portfolio comprising 4,768 units across the western United States. With this acquisition, the properties transition to HVPG ownership, seeking to ensure residents benefit from the high standards of living and affordability displayed across the firm’s entire portfolio.
The portfolio acquired includes properties in four western states thirteen in Washington, seven in Colorado, one in California and one in Idaho – concentrated significantly in the Denver, Seattle, and Spokane metro areas. The properties are subject to low-income housing tax credit (LIHTC) rent restrictions and tenants must be income qualified earning no more than 60% of area median income (AMI).
HVPG plans to make physical improvements and implement the firm’s Community Enhancement Program across the 22 properties. This initiative aims to foster vibrant, responsible and safe communities through site-specific emergency plans, active collaboration with local police departments and enhanced, high-definition monitoring systems providing sitewide coverage.
HVPG’s commitment to preservation extends beyond physical improvements to preserving affordability amidst rising market rates. HVPG has entered partnerships with local Housing Authorities, such as the Washington State Housing Finance Commission and Colorado Housing and Finance Authority, and other nonprofit organizations, such as Hearthstone Housing Foundation and Horizon Housing Alliance, to pursue improvements to safety and quality of life and seek to ensure long-term affordability for residents. HVPG will look to maintain and/or expand resident services programming and amenities at the sites as they’ve done across their existing portfolio.
HVPG acquired the portfolio from Inland Group in a joint venture partnership with Wheelock Street Capital, a private real estate investment firm with offices in Greenwich, CT, Boston, and Los Angeles. Wheelock provided the majority of the equity capital out of its Long Term Value Fund. Goldman Sachs served as financial advisor to the seller, and Newmark served as the broker.
“The acquisition of these properties represents a landmark achievement for our firm, expanding our reach to 87 communities with 15,414 units across the Northeast, Midwest, Mid-Atlantic, Southeast and West,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “Our strong relationships with community stakeholders, built on trust and collaboration, along with our deep industry expertise, have been the cornerstone of our efforts to preserve and elevate the nation’s affordable housing stock. We remain focused on our mission to make investments that both improve the performance of the assets and enhance the quality of life for our residents.”
“The acquisition is Wheelock’s second partnership with HVPG and first investment in affordable housing out of the Wheelock Street Long Term Value Fund permanent capital vehicle,” said Jeffrey Laliberte, partner and head of acquisitions for Wheelock Street Capital. “Wheelock’s stable capital will aid in preserving the long-term rental affordability for the residents of the 22 properties.”
HVPG has expanded to the Midwest and now the West, while increasing its footprint in the Mid-Atlantic and Southeast. HVPG’s portfolio spans 12 states, attempting to further the firm’s mission of addressing the nation’s housing shortage by providing affordable, sustainable community assets that residents are proud to call home.

ROXBURY, MA – The NHP Foundation celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF’s commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units.
The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930.
“NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property’s physical and historic integrity and provide newly renovated apartments for existing residents.”
The $112 Million refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations.
Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, “MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to creating quality housing for lower-income seniors and families.”
Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank. Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family.