October 2007 Table of Contents

Seeding Our Future Success

They say great minds think alike. As we worked on the profiles of the 2007 inductees into our magazine’s Affordable Housing Hall of Fame for this issue, I realized that powerful leaders often dream alike. Read more

Freddie Streamlines Acquisitions

Freddie Mac recently rolled out a new streamlined acquisition - financing product aimed at new borrowers seeking acquisition loans of Freddie Mac-financed properties. Read more

Help Us Choose the Young Leaders of Affordable Housing

We need your help to identify the future leaders of affordable housing and community development. Read more

Looking Toward 2008

The waves caused by a downturn in investor interest last fall may still be felt in the low-income housing tax credit (LIHTC) market going into the next year. Read more

Preservation Deal Demolishes Affordable Housing

GLENS FALLS, N.Y. On Aug. 16, workers began tearing down the Henry Hudson Apartments, ripping the roof off a nearly 40- year-old townhouse with a bulldozer. Read more

THE BANKER: Banking on the Inner City

When it comes to company tag lines, ShoreBank Corp. Read more

CDFI Grants May Get Boost

Here’s a small mercy as other programs decline: A conservatively estimated $26 million will be available in Community Development Financial Institutions (CDFI) program grants for fiscal 2008, and if early congressional actions are any indication, the grant amounts could come close to doubling. Read more

THE APOSTLE OF REHAB: Proving Preservation’s Power

For John Pritscher, fighting social injustice was not the passing fancy of a young idealist. It was a life-long calling. Read more

Revamping Around Transit

MINNEAPOLIS Dale Joel is hoping that a workforce housing development will be just the beginning of a massive mixed-use, transit-oriented development that will transform a south Minneapolis neighborhood. Read more

The Supportive Housing Boom

BROOKLYN, N.Y.—A developer here is doing something smart: Adding supportive-housing units to an affordable housing property. Thanks to state incentives, this move is helping to offset development costs. Read more


Richard Baron has not only built thousands of units of affordable housing across the country, he’s also built developments that transform inner-city neighborhoods. Read more

Honoring Great Leaders in Housing

It’s easy to get discouraged by the challenges of developing affordable housing. Read more

Take the Tour

The popular affordable housing bus tour is once again a part of the agenda at this year’s AHF Live: The Tax Credit Developers’ Summit. For an additional fee, conference attendees can tour a dozen affordable housing properties in Chicago. Read more

Capital Crisis Damages Affordable HousingDeals

Rising interest rates have hurt some affordable housing deals as the rate of defaults on single-family home loans rises out of control and lenders tighten underwriting standards or turn away from many types of real estate. Read more

Tackling the Tough Projects

CHICAGO Interfaith Housing Development Corporation of Chicago (IHDCC) is building three affordable housing projects in three different neighborhoods in the city, and like the other developments the small nonprofit organization has created, the new housing will be unique. Read more


Gale Cincotta’s street-smart protest tactics were legendary among Chicago housing activists. Read more

Low-Cost Housing a Challenge for Midwest Developers

Familiar local issues combined with recent changes to federal programs are making the Midwest affordable housing markets more challenging for area developers. Read more

What’s Up, What’s Down

After several years of vertigo from soaring construction costs, developers are getting some relief as prices drop for lumber and gypsum wallboard. Read more

Q&A with Mike Loftin, executive director of Homewise, inc.

MIKE LOFTIN has been the executive director of Homewise, Inc., in Santa Fe, N.M., since 1992. Founded in 1986, the nonprofit organization has helped more than 1,600 people purchase their homes and more than 800 people keep their homes by providing financial and technical assistance for home repair. Read more


When Moon Landrieu was confirmed by the Senate to head the Department of Housing and Urban Development (HUD) in 1979, top staffers paraded around the HUD building with a jazz band from the new secretary’s native New Orleans. Read more

Regional News

CHICAGO A private-public initiative will provide $12 million in financing to help affordable housing owners replace windows in about 2,000 apartments that city officials say are likely contaminated with lead-based paint because of their age. Read more

Housing Tax Credit Investments, Adjusters, andTiming

Since the housing credit program was enacted in 1986, low-income housing tax credit (LIHTC) investments have demonstrated a highly predictable return for investors over their 15-year life. Read more

Protesters Storm New Orleans Housing Authority Office

About two dozen protesters temporarily seized control of the offices of the Housing Authority of New Orleans (HANO) on Aug. 31, protesting the lack of public housing in the city in the wake of Hurricane Katrina. Read more

No Smoking Allowed

GUARDIAN MANAGEMENT, LLC, a Portland, Ore.-based real estate investment and management firm, has adopted a no-smoking policy at about 8,000 conventional and affordable housing units across the West. Read more

Stories from the Front

When Hurricane Katrina knocked down trees and cut electrical power to Meridian, Miss., Read more

Slashing Energy Costs

Cutting utility costs is a smart way to control operating expenses, and it can lead to a cleaner environment to boot. Read more

Sioux Tribe Sees the Sunrise

MISSION, S.D. When developer Tom Costello began building townhomes on the Rosebud Indian Reservation in Mission, S.D., he was astounded at the pent-up demand. Read more

House Committee OKs Housing Trust Fund Bill

The House Financial Services Committee has approved legislation (H.R. 2985) to create a national affordable housing fund, bringing advocates one step closer to their goal of a dedicated funding source for housing aid. Read more

Construction Still a Pain in the Wallet

As the single-family housing market began to tank last year, many developers expected construction costs for apartments to drop. Read more

Close X