June 2008 Table of Contents

The God Connection

WASHINGTON, D.C. Aplain brick building on the edge of this city’s impoverished Congress Heights neighborhood marks the beginning of a new wave of development here. Read more

Q & A with Theresa Parker, executive director of the California Housing Finance Agency (CalHFA)

THERESA PARKER has been executive director of the California Housing Finance Agency (CalHFA) since 1997. Read more


CHICAGO - Nonprofit developer Lawndale Christian Development Corp. will build the Martin Luther King Jr. Apartments on a vacant two-acre site owned by the city. Read more

Rice, Yordán Take Reins at Enterprise

A former mayor of Seattle and an investment banker from New York have taken over leadership of the affordable housing and community development organizations founded 25 years ago by James Rouse, the legendary commercial real estate developer who revitalized historic sections of Boston, Baltimore, and other Eastern cities in the 1970s. Read more


RICHMOND, VA. Former transportation engineer Monique Johnson, 32, owes her entry into the affordable housing industry to serendipity. Read more

Lower Prices, Higher Barriers

Freddie Mac is lowering its pricing even as its credit standards grow more conservative in the first half of 2008. Read more

Hud's Cabrera Joins Nonprofit Developer

Orlando J. Cabrera, former assistant secretary of the Department of Housing and Urban Development (HUD), has been named CEO of National Community Renaissance (CORE), one of the nation’s largest nonprofit affordable housing developers. Read more

State LIHTC Funds Prepare for Tough Year

Low-income housing tax credit (LIHTC) prices are down from a year ago, the financial markets are stressed, credit is tight, and the short-term economic outlook is gloomy. Read more

Homeless Check In To Nuevo Sol

SANTA CRUZ, CALIF. -The Nuevo Sol Apartments haven’t always been a healthy place to live. Before workers finished a green rehab here in September, the tiny rental apartments had a reputation for illegal drugs and prostitution, despite their location just a few blocks from the beach. Read more

Industry Bids Fond Farewell to a Leader

It’s been a busy few months for Bart Harvey. Housing and community development organizations all across the country have been throwing banquets, luncheons, and other events to honor him for his long service as chairman of Enterprise Community Partners, Inc., and its for-profit subsidiary, Enterprise Community Investment, Inc. Read more

Newark's Cleanup Mission

NEWARK, N.J. - The latest chapter in Newark’s battle against abandoned properties can be told by three houses on a quiet block in the city’s West Ward. Read more

ROI Makes It In Puerto Rico

ADJUNTAS, PUERTO RICO Last December, Woody Pagan drove an hour and a half from this mountain town into San Juan to get stamps and signatures on several documents. Before workers could start building Alturas de Castañer, a planned 24-unit rural development here, Pagan needed to certify that the project’s limited partnership did not owe child support. Read more

Congress Moves to Expand Housing Tax Credit Program

The House Ways and Means Committee has approved a bill (H.R. 5720) introduced by committee Chairman Charles Rangel (D-N.Y.) to temporarily expand the low-income housing tax credit (LIHTC) and tax exempt housing bond programs, revise some of the program rules and requirements, and create a new tax credit for first-time homebuyers. Read more


Conrad Egan may be the most committed man in affordable housing today Read more

Lenders Grow Cautious

While construction financing remains affordable, many capital sources are beefing up their underwriting criteria this year. Read more

Let’s Tell the Housing Story

WASHINGTON, D.C. - As I write this, Sen. Read more

Advocates Get Behind HUD Nominee

WASHINGTON, D.C. - Housing advocates are ready to think well of Steve Preston, the new nominee for secretary of the Department of Housing and Urban Development (HUD). Read more

Cloudy Outlook

Rising loan foreclosures and slow sales of houses and condominiums have affordable housing developers and officials across the Northeast scrambling to adjust. Read more

Affordable Housing Residents Get Wired

WITH THE GOAL of connecting low-income people to the Internet and other technology, One Economy Corp. Read more


Conrad Egan may be the most committed man in affordable housing today Read more

Costa and Partners Buy Simpson Housing Solutions Portfolio

LONG BEACH, CALIF. — One of the nation’s largest affordable housing developers and syndicators has been purchased by the newly formed venture of MacFarlane Costa Housing Partners (MCHP). Read more

HFAs Face Troubled Housing Market

Welcome to the state housing finance agency (HFA) world. Read more

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