Washington

The Housing Association of Nonprofit Developers (HAND) launched its Housing Indicator Tool (HIT) to track local efforts to produce affordable housing in the Washington Region.

Last week, the U.S. District Court for the Western District of Washington dismissed a case filed against the Washington State Housing Finance Commission (Commission) from Alden Torch Financial via AMTAX Holdings.

Hunt Capital Partners said it and developer Housing Initiatives LLC closed on more than $8.2 million in Low Income Housing Tax Credit equity financing for the construction of 46 units of affordable multifamily housing in Vancouver, WA, to house the homeless. The Vancouver Housing Authority will provide public housing subsidies for the apartments, Hunt said. 

Hunt Capital Partners said it and developer Housing Initiatives LLC closed on more than $8.2 million in Low Income Housing Tax Credit equity financing for the construction of 46 units of affordable multifamily housing in Vancouver, WA, to house the homeless. The Vancouver Housing Authority will provide public housing subsidies for the apartments, Hunt said.

HUD’s Multifamily West Region is extending the audited financial reporting deadlines until September 30, 2020. This waiver is limited to entities, which are required to submit the referenced annual financial information on or before June 30, 2020.

On June 30, City Lab published an article on how developer Avalon Bay is converting a portion of the 41-year-old Alderwood Mall outside of Seattle into housing.

On the one year anniversary of Microsoft’s $500 million investment in affordable housing, the company announced an additional $250 million investment in affordable housing. The new investments will be placed with the Washington State Housing Finance Commission to allow them to bridge tax-exempt bond cap as well $50 million to seed the new Evergreen Housing Impact Fund.

The Washington State Housing Finance Commission named Steve Walker as its new executive director after a nationwide search. Walker returns to the Commission, where he was director of Multifamily Housing and Community Facilities until 2013, after most recently leading the City of Seattle Office of Housing.

After the recent closing of a $7 million equity investment in a 200-unit affordable housing property located in Vancouver, WA, Candeur Group surpassed $450 million in affordable housing investments. Candeur is an investment banking firm for the affordable housing industry providing financial products to developers for affordable syndication and preservation.

HUD’s Office of Multifamily West Region issued a memo that nullifies the requirement to review the status of residents reporting zero or nominal (less than $100.00) income every 90 days.

The Seattle City Council unanimously passed Mandatory Housing Affordability (MHA) upzones that allow higher density and impose affordable housing requirements on more than two dozen neighborhoods. This action upzones 27 neighborhood hubs, requiring developers in those areas to set aside 5 to 11 percent of their developments as affordable units or pay $5 to $32.75 per square foot in fees.

HUD released the updated Fair Market Rents (FMRs) for the FY 2019 Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program for ten areas based on new survey data. The new FMS are effective as of April 15, 2019 and based on surveys conducted by the area public housing agencies and reflect the […]