Wells Fargo Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have joined together to provide a $750,000 Affordable Housing Program (AHP) subsidy to New Hope Housing Inc. to help fund a $34.9 million supportive housing development near downtown Houston, Texas. Called New Hope Housing Avenue J (NHH Avenue J), the 100-unit, transit-oriented apartment community targets families earning 60 percent of the area’s median income in a neighborhood known as the historic East End. Construction started in June 2020, and progress is well underway. Project completion is anticipated in April 2022.
Atlantic Pacific Communities Celebrates Groundbreaking of The Arbor at Wayforest in Houston. Leasing is expected to begin in 2022.
MEMBER IN THE NEWS: Berkadia has brought in Tim Leonhard as senior managing director on its affordable housing platform. Based in Dallas, Leonhard brings more than 22 years of experience in the development and financing of affordable housing.
Lument, the newly combined organization of Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group, has provided a $21.5 million Freddie Mac loan for the renovation of Jackie Robinson Memorial Apartments in El Paso.