Member News

Vesta Corp. Co-Founder Steve Erie Announces Retirement

Steven Erie, Managing Director, Principal and co-founder, is retiring after 35 years. Erie is also a long-time Director of NH&RA.

Bellwether Enterprise Hires New Director of Equity Products

Todd Johnson has been named as Director of Equity Products. Mr. Johnson will be based in Bellwether Enterprise’s New Orleans office.

Beacon Communities Closes Two Mixed-Finance RAD Transactions

In Fall 2016 Beacon Communities successfully utilized HUD’s Rental Assistance Demonstration (RAD) Program to convert two mixed-finance HOPE VI communities located in Connecticut from public housing operating subsidy to Section 8. This subsidy conversion was critical to help stabilize operating income and enable the owners to undertake ongoing capital needs. The RAD conversions represent two […]

Twenty NH&RA Members Awarded New Markets Tax Credits in Current Round

At $7B, this was the largest round in the history of the program.

MassHousing Recognizes WinnCompanies as Top-Performing Management Company Fostering Minority- and Women-Own Business Enterprises; Beacon Communities, The Community Builders, POAH, Related Management, Trinity Management and Wingate Management also Receive High Marks

In fiscal year 2016 the 424 rental housing communities in the MassHousing loan portfolio generated approximately $201.4 million in contracts for goods, services and supplies. Of this amount, $37 million (18%) went to Minority-Owned Businesses and $23 million (11%) went to Women-Owned Businesses.

Vesta Corporation Celebrates Successful $9M Renovation of Villa Serena Community

(Weatogue, Connecticut) A senior living community that was the dream of an Italian immigrant was recently brought into the 21st century by affordable housing specialists, Vesta Corporation. The Villa Serena Apartments in Mayfield Heights, Ohio, was renovated by Vesta Corporation through a unique public and private partnership that was seen as a model for affordable senior […]

Winn Development and The Architectural Team Receive Multifamily Executive Award

Loft Five50, a historic rehab project which recently received an NH&RA Timmy Award, has now also received recognition from Multifamily Executive.

Regions Bank Acquires Affordable Housing Syndication and Asset Management Businesses from First Sterling Financial, Inc.

BIRMINGHAM, Ala. – October 17, 2016 – Regions Bank today announced it has acquired the Low Income Housing Tax Credit (LIHTC) corporate fund syndication and asset management businesses of First Sterling Financial, Inc. The acquisition complements Regions’ Community Investment Capital, Real Estate and Capital Markets capabilities to serve more clients and communities. First Sterling is […]