The economic downturn is taking a toll on some of the people who need resources and housing the most. Funds and investors are taking to the sidelines, and special-needs projects are being put on hold, in some cases for an unknown amount of time.
MILWAUKEE— Those seeking affordable shelter in this city have to look no further than Gorman & Co.'s newest rehabbed project, Blue Ribbon Lofts.
DENVER—The deteriorating housing market of Florida recently became an important backdrop for Boston-based Preservation of Affordable Housing, Inc. (POAH), on a twofold basis.
CHAMBLEE, GA. Once a storm water runoff site for a manufacturing plant, this lot has become a popular living space for low-income seniors thanks to a public-private partnership among the city, DeKalb County, and nonprofit affordable housing developer Mercy Housing.
Through a $10 million grant Florida Housing Finance Corp. (FHFC) received from the state last August, the department is putting the money to good use by initiating a preservation bridge loan program targeting nonprofit development organizations by providing loans for acquisition and predevelopment costs related to existing affordable housing properties.