Member News

Boston Capital is investing in the rehabilitation of Trinity Towers West Apartments, a 192-unit apartment community for seniors in FL. Preservation of Affordable Housing will rehabilitate the property with tax credit equity from the low-income housing tax credit program.

Through a reorganization of the housing programs at Volunteers of America, Patrick Sheridan, formerly Senior Vice President, Housing Development, has been promoted to the position of Executive Vice President, Housing. Several others have also been promoted to new leadership positions.

The Board of Homes for America has selected Paula C. Sampson to become the next President of the organization after Nancy Rase makes her planned departure on November 1, 2015. Paula Sampson has had a distinguished career in the public and nonprofit affordable housing field and real estate finance. The Board feels she is the ideal person to lead the organization.

Ballard Spahr announced that Heather S. Swa has joined Ballard Spahr as of counsel in the Baltimore office and Laura B. Redstone has joined the firm in the Denver office.

USA Properties Fund will begin construction on a much-needed affordable senior community in Aliso Viejo, a city in southern Orange County. The 202-apartment community will offer affordable housing to seniors 55 years and older with household incomes between 50% and 60% of the area median income for the county.

Lancaster Pollard worked with the owners of a Sec. 202 affordable seniors housing property in Oakland, CA, that needed significant rehabilitation. Lancaster Pollard ultimately advised on the sale of Northgate Terrace for $27.5 million to WNC, which will perform a complete renovation of the existing property at a total cost of $47 million, including the acquisition and renovation.

Enterprise Community Investment Inc. announced a $5.7 million Low-Income Housing Tax Credit deal to fund the construction of Eagle View Townhomes, an affordable housing community that will contain 49 homes for families across 16 buildings in a rural community in Utah.

WNC, a national investor in real estate and community development initiatives, announced today it has closed WNC Institutional Tax Credit Fund X California Series 13, LP (WNC Cal 13), a $75 million institutional low-income housing tax credit (LIHTC) fund.

Darren Bobrowsky has been promoted to Senior Vice President of Finance and Principal of USA Properties Fund Inc.

Wishrock Housing and Investment Group, a national developer and investor in affordable housing, announced the appointment of Trisha Miller, a leader in the energy efficiency and green building movement, as Director of Sustainability.

Lancaster Pollard announced a new leadership team. Nick Gesue, previously senior vice president and chief credit officer with Lancaster Pollard, has been named CEO and Kass Matt, most recently a managing director with the firm, has been named president of Lancaster Pollard Holdings Company, LLC.

City Real Estate Advisors announced the closing of CREA Corporate Tax Credit Fund 43, LLC. The fund raised a total of $238.6 in capital from 13 investors.