Member News

Affordable Housing Finance released its annual ranking of the Top 50 Affordable Housing Developers of 2018 and 20 NH&RA members made the list – congratulations!

CohnReznick former co-CEO and Chairman of the Board, Kenneth E. Baggett, passed away earlier this month. Ken was a bold leader, innovator, colleague and friend who helped establish CohnReznick as a top national advisory, assurance and tax firm and was instrumental in propelling its growth. For nine years, he served as Managing Principal and CEO of the CohnReznick predecessor firm Reznick Group, leading it to a top 20 national ranking among public accounting firms.

NH&RA member Riverside Capital announced the promotions of two key executives, Brant Fensin and Mark Furey, as well as the addition of two new vice presidents to its team, Kelly Henderson and Erin ONeill. The announcement comes as Riverside continues to ramp up its capacity to serve the company’s rapidly expanding client portfolio.

A new national survey on the connection between homes and health from NH&RA member Enterprise Community Partners Inc. (Enterprise) finds that more than half of renters surveyed have delayed care because they couldn’t afford it and 100 percent of medical professionals surveyed have had at least some of their patients express concerns about affordable housing.

Herb Collins passed away peacefully on March 30. Herb co-founded Boston Capital, Inc. in 1974 building it into one of the nation’s top real estate investment firms. Herb pioneered and ultimately helped sustain a new industry in low-income affordable housing. Championing this cause became Herb’s enduring professional legacy.

Madison Marquette, a leading national real estate owner, investor, developer and integrated service provider based in Washington, DC, announced its merger with NH&RA member The Roseview Group, a boutique institutional real estate investment and advisory company based in Boston, MA.

Chicago’s Woodlawn neighborhood celebrated two major milestones in its revitalization – the opening of a new 48,000-square-foot Jewel-Osco grocery store, the first full-service grocery store residents in that neighborhood in over 40 years, and the opening of Woodlawn Station, a new transit-oriented development consisting of 75 mixed-income units and 15,000 square feet of retail space. The development of Woodlawn Station was led by NH&RA memberPreservation of Affordable Housing, Inc. (POAH) and financed, in part, through HUD’s Choice Neighborhoods Initiative.

Gorman & Company announced the hire of Ron Clewer to lead its Illinois state market as Andre Blakely, former Illinois Market President, will lead Gorman’s national public housing redevelopment platform.

Tamara L. Osborne, an attorney with more than 20 years’ experience in affordable housing and community development law, has joined Ballard Spahr in the firm’s Los Angeles office. Ms. Osborne comes to Ballard Spahr from VLP Law Group, where she was a partner. Earlier in her career, she was a founding partner of Bocarsly Emden Cowan Esmail & Arndt, a real estate-focused boutique law firm.

While many tax credit fund managers are looking to expand into opportunity zone funds, there may be important differences in how they are treated for regulatory purposes. In this article, Daniel McAvoy, Forrest David Milder, John H. Cornell, III and David F. Schon with Nixon Peabody discuss certain additional considerations that O-zone fund managers may […]

McCormack Baron Salazar, Inc. and the Puerto Rico Department of Housing have officially opened Renaissance Square, a new mixed-income apartment community located in the Hato Rey Barrio of San Juan, Puerto Rico. Located in the heart of the San Juan’s Financial District’s “Golden Mile,” the community has walk-up and townhome-style apartment buildings with market-rate amenities, green energy-saving design, and resilient features.

RED Mortgage Capital, a division of ORIX Real Estate Capital, LLC, has hired Sean Cullen and Ronnie Gyani to lead its multifamily affordable lending activities in the greater New York City area. Cullen and Gyani have worked together since 2010 and both bring a strong level of affordable housing finance experience to RED’s New York and East Coast operations.