Member News

Standard Communities announced it has led a public-private partnership that acquired Union South Bay Apartments, a 357-unit community in Carson, CA. Standard said it utilized California’s innovative public-private partnership structure designed to facilitate the creation of middle-income housing.  

Pennrose announced the promotion of Sharon Jacob to vice president of operations. Jacob will provide property management oversight to nearly 4,000 units and support of the regional teams in New Jersey, Connecticut, Massachusetts and New York, according to Pennrose. She previously served as regional property manager for Pennrose for ten years. 

CREA announced it closed CREA Corporate Tax Credit Fund 85, LP (Fund 85) totaling $396.9 million of investor equity, which will finance 37 affordable housing developments, spanning 23 states.  

FTK Construction Services, LLC, (FTK) announced the contract award for Brandywine Apartments, located in Richardson, TX. The contract for this LIHTC rehabilitation award is $4,267,543.

Boston Mayor Kim Janey (D) joined the officials from the Boston Housing Authority (BHA), WinnCompanies and MassHousing to formally open a unique $30.2 million development project that delivers 52 units of both rental and homeownership opportunities to households of all incomes along the East Boston waterfront, WinnCompanies said in an announcement. 

Standard Communities has led a public-private partnership to acquire Osprey Place Apartments in North Charleston, SC, the company said in an announcement. The company said this deal brings Standard’s affordable portfolio in the Charleston area to more than 500 units. 

Pennrose announced the addition of Tom Anderson to its executive development team. As senior vice president of development, Anderson will lead Pennrose’s strategic expansion into the Midwest and Mountain regions. In addition to providing leadership for an expanding development team, Anderson will also provide executive representation of Pennrose among industry organizations and associations, financial partners, design and construction partners, housing authorities, and state agencies. 

Olympia Development of Michigan, Cinnaire Solutions and the Detroit Public Schools Community District recently partnered with Project Destined to offer a real estate internship program for underserved youth in the city of Detroit. 

Monarch Private Capital announced that it named Emily DiCenso the new president of asset management. DiCenso previously was a vice president at Boston Capital. 

The Architectural Team announced several new properties it designed with more than 200 units of mixed-income housing will open this month in and around Boston.  

Congratulations to the several NH&RA members that were recognized as winners of the 2021 Novogradac Journal of Tax Credits Awards

The California Statewide Communities Development Authority (CSCDA) has acquired The Link apartments in Glendale. The acquisition was a public-private collaboration among Standard Communities, CSCDA’s Community Improvement Authority, Stifel Nicolaus & Company, Faring and the city of Glendale.