Member News

Mission First Housing Group is starting construction an affordable community that will be home to grandparents who are raising grandchildren. Fifty homes in the 223-unit development are set aside for these households, who make 30-50% of AMI, and include significant support services, targeting the children and the seniors raising them.

Love Funding closed a $19.7 million loan for the construction of a new project from LDG Development, which will create 240-unit apartment community that’s affordable to households who earn 60 percent or less than the area median income in Nashville, Tennessee.

Maurice Jones, Virginia’s commerce secretary and a former HUD official, has been chosen to serve as LISC’s new president and CEO. He succeeds Michael Rubinger, who will step down after 17 years as CEO.

The $56 million development consists of 176 mixed-income multifamily rental apartments, 9,000 square feet of office/retail space, and a community center. It was built using $31.9 million in federal and state tax credit equity, a $7.5 million in tax-exempt bond proceeds, as well as other loans and gap funding.

WinnDevelopment and its partner broke ground on the major $100 million phase of the development that includes the construction of 96 modern luxury apartment homes on the 9th through 12th floors, retail on Main Street, office space in the mid-rise, 72 active senior living apartment homes, and a complete rehabilitation of the entire façade and windows of the building.

Ms. Murray will be located in Tampa, Florida, and will focus on developing new business to feed the company’s bridge and FHA finance platforms. She previously served as Deputy Director of the U.S. Department of Housing and Urban Development’s Office of Residential Care Facilities.

Citing his 35-year commitment to the practical needs of families and seniors, Homeport will honor Ohio Capital Corporation for Housing President Hal Keller at its second annual “Voice & Vision” program on Oct. 13.

These awards recognize newly developed or significantly rehabbed affordable multifamily housing communities that showcase high-quality design and resourceful financing.

Projects developed by NH&RA members are among the finalists for Affordable Housing Finance’s Readers’ Choice Awards. They represent some of the best affordable housing developments completed in 2015 and 2016. The finalists were selected based on their impact on their community, creative problem-solving, sustainable and inventive design, and innovative financing.

Alfredo de la Peña, who has been with Mission First for two decades as its Chief Operating Officer, will lead the organization as its Chief Executive Officer, effective July 1, 2016. Alfredo succeeds Walt Kubiak who served in the role of CEO for 22 years.

The Executive Committee and Board of Directors of Katten Muchin Rosenman LLP have named Roger P. Furey as the firm’s new chairman, effective June 1, 2016. Furey succeeds Vincent A.F. Sergi, who successfully led Katten for the last 21 years.

Southeast Effective Development (SEED) and Bayside Communities completed a $50 million rehabilitation and grand re-opening of 35 buildings that house over 1400 residents. The re-syndicated tax credit financing for this project required no new state or local public funding.