Public housing in the United States

Yardi Launches Rent Relief Software to Help Government Agencies Manage Emergency Rental Assistance Funds

Retrieved on: 
Monday, February 8, 2021
Real property law, Landlord, Affordable housing, Regional science, Economic geography, Public housing in the United States, Academic disciplines

SANTA BARBARA, California, Feb. 8, 2021 /PRNewswire/ -- To help governments manage the distribution process of federal emergency rental assistance, Yardi is today launching Rent Relief powered by Yardi , a powerful all-in-one platform that will help get payments to households and landlords quickly and easily.

Key Points: 
  • SANTA BARBARA, California, Feb. 8, 2021 /PRNewswire/ -- To help governments manage the distribution process of federal emergency rental assistance, Yardi is today launching Rent Relief powered by Yardi , a powerful all-in-one platform that will help get payments to households and landlords quickly and easily.
  • "We worked rapidly to create an easy-to-use and quick-to-implement platform that will make distribution of emergency rental assistance straightforward and equitable," said Chris Voss, vice president of affordable housing and PHA at Yardi.
  • The goal is to help our government agencies as they deliver households and landlords the help they need."
  • Features of the cloud-based Rent Relief platform include:
    Online applications, allowing households and landlords to easily apply for assistance.

Gershman Investment Corp. Originated A $21 Million HUD 221(d)(4) Construction To Permanent Loan For Delmar Divine Apartments

Retrieved on: 
Thursday, January 21, 2021
Construction, Public housing in the United States, Delmar, United States Department of Housing and Urban Development, Adaptive reuse, Gershman, St. Louis, Apartment, Cities in the United States, Geography of Missouri

ST. LOUIS, Jan. 21, 2021 /PRNewswire/ --Gershman Investment Corp. provided construction and permanent financing for Delmar Divine Apartments, in St. Louis, Missouri.

Key Points: 
  • ST. LOUIS, Jan. 21, 2021 /PRNewswire/ --Gershman Investment Corp. provided construction and permanent financing for Delmar Divine Apartments, in St. Louis, Missouri.
  • Managing Director, Chris Will originated a $21 million HUD 221(d)(4) construction to permanent loan, for the adaptive reuse of a vacant former hospital into a market-rate apartment community and non-profit collaborative office space.
  • The$21.7MM GNMA-backed HUD 221(d)4 provided Delmar Divine Apartments with a 40-year fixed, non-recourse, construction-permanent loan.
  • Managing Director, Chris Will, commented, "This opportunity zone development will be a tremendous asset for the City of St. Louis.

Dwight Capital Closes 2020 with Over $3.6 Billion in Financings

Retrieved on: 
Wednesday, January 20, 2021
Finance, Professional services, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Public housing in the United States, Technology, Science and technology, United States Department of Housing and Urban Development, Urban planning in the United States, Head-up display, Articles

2020 was Dwight Capital s strongest year to date, with more than $3.6 billion in real estate financings (including Interest Rate Reductions) spanning 43 states.

Key Points: 
  • 2020 was Dwight Capital s strongest year to date, with more than $3.6 billion in real estate financings (including Interest Rate Reductions) spanning 43 states.
  • In addition, Dwight Capital acquired Love Funding , another prominent HUD lending company, towards the end of HUDs 2020 fiscal year.
  • The additional staff and expertise better positions Dwight Capital for future growth and success with its core HUD products.
  • Some notable transactions for 2020 included:
    $102.2 MM in HUD 223(a)(7) loans for a multifamily portfolio comprising 1,169 units in Maryland.

Dwight Capital Closes Q4 2020 With $117.57 MM in Healthcare Financings

Retrieved on: 
Wednesday, January 13, 2021
Professional services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Public housing in the United States, United States Department of Housing and Urban Development, Urban planning in the United States, Pawtucket, Rhode Island, Economy of the United States, Mortgage industry of the United States, Cities in the United States

Dwight Capital provided over $117.57 MM in healthcare financing during Q4 2020.

Key Points: 
  • Dwight Capital provided over $117.57 MM in healthcare financing during Q4 2020.
  • Sasouness also originated $13.95 MM in bridge financing for the Laurels Portfolio, a 313-bed, three-asset ALF/SNF portfolio located across Northeast Ohio.
  • $11.5 MM bridge loan for Heart of Georgia , a 100-bed SNF located in Eastman, GA.
    $7.5 MM bridge acquisition loan for Pawtucket Falls Healthcare Center , a 154-bed SNF located in Pawtucket, RI.
  • Dwight Capital is also one of the largest FHA/HUD lenders for multifamily and healthcare properties in the United States and services in excess of $6 billion of commercial real estate loans.

CalHFA Kicks Off National Mortgage Settlement Counseling Program

Retrieved on: 
Thursday, December 17, 2020
Professional services, Public policy, Government, State, Local, Residential Building & Real Estate, Finance, Construction & Property, Urban planning, Public housing in the United States, Affordable housing, Urban planning in the United States, Mortgage loan, Economy, United States Department of Housing and Urban Development, Housing, National Foundation for Credit Counseling, Subprime mortgage crisis

The California Housing Finance Agency (CalHFA) is pleased to announce the start of the National Mortgage Settlement Counseling Program, offering free housing counseling to help Californians concerned about their housing situation.

Key Points: 
  • The California Housing Finance Agency (CalHFA) is pleased to announce the start of the National Mortgage Settlement Counseling Program, offering free housing counseling to help Californians concerned about their housing situation.
  • The 2020-21 California State Budget allocated $300 million from the National Mortgage Settlement Fund to CalHFA to set up HUD-certified counseling and mortgage assistance programs.
  • Working through HUD-approved Intermediaries, CalHFA is using $50 million of this funding for more than 80 HUD Approved Housing Counseling Agencies from all over the state to provide free housing counseling services.
  • The remaining National Mortgage Settlement funds will be used to provide mortgage assistance to struggling small landlords to help them and their tenants remain housing secure.

DCHFA Finances the Redevelopment of Sursum Corda in NoMa (updated)

Retrieved on: 
Tuesday, December 15, 2020
Public housing in the United States, Sursum corda, Affordable housing, Corda, Noma, Low-Income Housing Tax Credit, Sursum corda, Loyola Marymount University, Musical compositions, Music, Residential buildings

On December 10th DCHFA issued $23 million in tax-exempt bond financing and underwrote $15.7 million in four percent low income housing tax credits (LIHTC) for the redevelopment of Sursum Corda.

Key Points: 
  • On December 10th DCHFA issued $23 million in tax-exempt bond financing and underwrote $15.7 million in four percent low income housing tax credits (LIHTC) for the redevelopment of Sursum Corda.
  • The redevelopment of Sursum Corda will provide its returning and new residents with a new community at price points within their income range in a neighborhood that has seen a flurry of development activity all around the Sursum Corda area, stated Christopher E. Donald, Interim Executive Director, DCHFA.
  • Sursum Corda is the second development funded by DCHFA in NoMa this year.
  • The south parcel of the project will consist of 122 units reserved for returning Sursum Corda residents.

DCHFA Finances the Redevelopment of Sursum Corda in NoMa

Retrieved on: 
Tuesday, December 15, 2020
Public housing in the United States, Sursum corda, Affordable housing, Corda, Noma, Low-Income Housing Tax Credit, Sursum corda, Loyola Marymount University, Musical compositions, Music, Residential buildings

On December 10th DCHFA issued $23 million in tax-exempt bond financing and underwrote $15.7 million in four percent low income housing tax credits (LIHTC) for the redevelopment of Sursum Corda.

Key Points: 
  • On December 10th DCHFA issued $23 million in tax-exempt bond financing and underwrote $15.7 million in four percent low income housing tax credits (LIHTC) for the redevelopment of Sursum Corda.
  • The redevelopment of Sursum Corda will provide its returning and new residents with a new community at price points within their income range in a neighborhood that has seen a flurry of development activity all around the Sursum Corda section, stated Christopher E. Donald, Interim Executive Director, DCHFA.
  • Sursum Corda is the second development funded by DCHFA in NoMa this year.
  • The south parcel of the project will consist of 122 units reserved for returning Sursum Corda residents.

Greystone Provides $22.9 Million in HUD-Insured Financing for a Multifamily Property in Dallas-Fort Worth, Texas

Retrieved on: 
Tuesday, December 1, 2020
Public housing in the United States, United States Department of Housing and Urban Development, Urban planning in the United States, Greystone

The financing was originated by Eric Rosenstock, assisted by Paul Smyth and Cary Williams.

Key Points: 
  • The financing was originated by Eric Rosenstock, assisted by Paul Smyth and Cary Williams.
  • The $22,916,500 HUD-insured Section 223(a)(7) financing carries a 39-year term and amortization, along with a low, fixed interest rate.
  • Constructed in 2015, Carriage Homes on the Lake consists of 15 three-story rowhouse buildings with one- and two- bedroom units.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

Greystone Provides $20 Million in HUD-Insured Financing for Affordable Housing in Broward County, Florida

Retrieved on: 
Wednesday, November 11, 2020
Public housing in the United States, United States Department of Housing and Urban Development, Urban planning in the United States, Economy of the United States, Mortgage industry of the United States, Affordable housing

The $20,000,000 HUD-insured Section 223(f) financing carries a 35-year term and amortization, along with a low, fixed rate.

Key Points: 
  • The $20,000,000 HUD-insured Section 223(f) financing carries a 35-year term and amortization, along with a low, fixed rate.
  • Constructed in 1999, Pembroke Park Apartments consists of 17 two-story garden-style apartment buildings and 244 income-restricted one-, two- and three-bedroom affordable housing units.
  • Our new long-term, low rate financing enables us to continue to enhance this property for our residents, who deserve quality affordable housing for their families.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

Dwight Capital Receives Over $2.42 Billion in FHA Firm Commitments Through HUD’s Fiscal Year and Earns Top Lender Ranking

Retrieved on: 
Monday, November 2, 2020
Professional services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Urban planning, Mortgage industry of the United States, Public housing in the United States, United States Department of Housing and Urban Development, Urban planning in the United States, Finance, Economy of the United States, Money, Mortgage, Loans, Federal Housing Administration, FHA insured loan

Dwight Capital announced that it obtained over $2.42 billion in multifamily and healthcare FHA Firm Commitments during HUDs 2020 fiscal year.

Key Points: 
  • Dwight Capital announced that it obtained over $2.42 billion in multifamily and healthcare FHA Firm Commitments during HUDs 2020 fiscal year.
  • This ranks Dwight Capital #2 among lenders both by dollar volume and number of transactions (139 loans closed).
  • Under the leadership of Adam and Josh Sasouness, Dwight has been a Top-5 FHA/MAP lender for each of the last six years.
  • In addition, Dwight Capital also acquired Love Funding, another prominent HUD lending company, towards the end of the fiscal year.