Affordable Housing

KeyBank provides $27 million of construction financing for affordable housing in Indianapolis

KeyBank Community Development Lending and Investment secured $27.7 million of construction financing, $13.2 million of 4 percent low-income tax credit equity and $18.4 million of…

Affordable housing portfolio in Gary, Indiana sells for $10.4 million

Affordable Housing Investment Brokerage Inc. recently sold a 14-building, 249-unit affordable housing portfolio in Gary, Indiana for $10,375,000. Managing director Kyle Shoemaker represented both the…

MichiganMultifamily

Michigan’s FOURMIDABLE makes “Affordable 100” list

Bingham Farms, Michigan-based FOURMIDABLE, a manager of affordable housing units, was recently named to the 'Affordable 100' List by the National Affordable Housing Management Association…

Construction set to begin on affordable senior living project in Johnsburg

Work is set to begin to turn the former James C. Bush Elementary School, 2117 W. Church Street in Johnsburg, Illinois into affordable senior living…

MidwestMultifamily

Evergreen Real Estate Group expands national affordable housing portfolio

Chicago-based Evergreen Real Estate Group has been retained to manage affordable housing communities comprising a total of 971 units across Illinois, Minnesota, Ohio, Pennsylvania and…

Bellwether Enterprise provides $28.8M acquisition loan for affordable housing property in Elmhurst

Bellwether Enterprise Real Estate Capital provided a $28.8 million Freddie Mac loan for the acquisition, rehabilitation and preservation of Elmhurst Terrace, a 315-unit affordable housing…

COVID-19 may have another victim: The supply of affordable housing units

Chicago, like other markets around the country, has faced a mounting affordable housing crisis for years. There have been efforts—some stilted, some enthusiastic—to address the…

Mixed-use TOD in Chicago’s Grand Boulevard neighborhood gets financing

Chicago-based The Habitat Company has cleared a key hurdle in financing the first phase of 43 Green, a $35 million mixed-income, mixed-use transit-oriented development (TOD)…

Construction begins on Englewood affordable living project

Construction commenced last month on 16 two- and three-flat buildings in a section of Chicago’s Englewood neighborhood. The affordable housing units are the next step…

Construction progressing on affordable living development in Elgin

The construction project to turn the former Larkin Center in Elgin into affordable housing is progressing, with a late fall 2020 completion date projected. Joseph…