July 2012 Table of Contents

Making Headway Making Headway

AHF sits down with Marie Head to look at how far the FHA has come, and where it's going. Read more

Minimize Real Estate Transfer Taxes in Low-Income Housing Transactions

Whether it is called a documentary stamp tax or a transfer tax, most states and some local jurisdictions tax conveyances of real property. Read more

A New Crop of Finalists

These 34 finalists showcase some of the best in green technology, innovative financing, community revitalization, and social services. Read more

FHA Opens Sale of Troubled Loans

Thousands of troubled mortgages in communities hard hit by the foreclosure crisis will be going up for sale in September, announced federal housing officials. Read more

Stratford Closes LIHTC Fund

Stratford Capital Group announced that it has closed a $100 million low-income housing tax credit fund. Read more

Family Finalist: Emerald Springs

Emerald Springs, built by Unified Property Group and the Detroit Housing Commission, is a new start in Detroit. Read more

Family Finalist: Harmony Oaks

Harmony Oaks re-establishes an entire New Orleans neighborhood. The 460-unit development is built on the site of the old C.J. Read more

Family Finalist: Metro 510

Metro 510 is a blend of old and new. The heart of the development is the historic St. Paul African Methodist Episcopal Church. Read more

Family Finalist: Northside Housing Initiative

The Northside Housing Initiative takes a bite out of two prevailing problems in its Milwaukee neighborhood—foreclosures and unemployment. Read more

Green Finalist: Dumont Green

More than 10,000 people applied for a chance to live at Dumont Green—a new apartment building in the neighborhood of East New York on the ragged boundary between Brooklyn and Queens. Read more

Green Finalist: M Station

For Foundation Communities, M Station in Austin, Texas, was a dream project Read more

Green Finalist: Sustainable Fellwood II and III

Developers arranged hundreds of apartments around a new park on the site of a distressed public housing property in Savannah, Ga.— without any help from the federal HOPE VI program. Read more

Green Finalist: Temple I North 16th Street/Temple II North Gratz Street

Only blocks from Temple University in north Philadelphia, 1260 Housing Development Corp. has brought 98 units of housing back to their original glory but with the green technology of the 21st century. Read more

Historic Rehab Finalist: Ghost Ranch Lodge

Ghost Ranch Lodge holds a special place in Tucson's history. Read more

Historic Rehab Finalist: Owe'neh Bupingeh Preservation Project

Originally known as San Juan Pueblo from 1598 to 2005, Ohkay Owingeh is one of 19 federally recognized pueblo tribes in New Mexico. Read more

Historic Rehab Finalist: Saint Luke's Manor

Pennrose Properties, LLC, and Neighborhood Progress, Inc., have teamed up to transform a historic hospital in Cleveland into 137 units of affordable housing for lower-income seniors 55 and older. Read more

Historic Rehab Finalist: Scott School Apartments

The Gulf Coast Housing Partnership and the Capital Area Alliance for the Homeless overcame financing challenges to transform a historic school building and construct a new building for low-income individuals in Baton Rouge, La. Read more

Master-Planned/Mixed-Use Finalist: Brownsville Transit Village

An underutilized 8-acre parking lot has been transformed into a mixed-use, mixed-income, and transit-oriented development thanks to the public-private partnership between Carlisle Development Group and Miami-Dade Transit. Read more

Master-Planned/Mixed-Use Finalist: Savannah Gardens

Originally built in 1943 to house employees of the Southeastern Shipbuilding Corp., the Strathmore Estates complex in the Savannah Gardens community of Savannah, Ga., was meant to be dismantled after the war. Read more

Preservation Finalist: Banyan Street Manor Apartments

Banyan Street Manor Apartments is the first acquisition of public housing in Hawaii to be recapitalized under private ownership. Read more

Preservation Finalist: Harold Washington Apartments

The redevelopment of the Harold Washington Apartments preserves 69 units of affordable housing and contributes to the revitalization of Chicago's Uptown neighborhood. Read more

Preservation Finalist: New Horizons Apartments

The New Horizons Apartments has undergone a green retrofit that will ensure it remains home to some of Miami's neediest seniors Read more

Preservation Finalist: Vintage Gardens

The Poppleton Cooperative was in trouble, defaulting on its mortgage and sitting nearly 40 percent vacant nine years ago. But a development team came to the property's rescue. Read more

Rural Finalist: Alta Vista de la Montaña

Alta Vista de la Montaña is not your usual apartment complex for farmworkers. Read more

Rural Finalist: Dogwood Estates

It took 12 years to transform a decayed subdivision into this brand-new community. Read more

Rural Finalist: Richwood Greene

The newly renovated Richwood Greene gives low-income seniors the chance to grow old in the small town where many have spent most of their lives: Richwood, Ohio, population 3,000. Read more

Readers' Choice Awards Seniors Finalist: Fair Oaks Plaza

Fair Oaks Plaza provides 124 affordable apartments for low-income seniors next to a new county health clinic. Read more

Seniors Finalist: Heritage at McDonough

Heritage at McDonough answers the needs of low-income seniors, a city, and a community bank. Read more

Seniors Finalist: Heritage Park Seniors Campus

The Heritage Park Seniors Campus is the nation's first public housing community that offers enhanced assisted-living and comprehensive memory-care housing with services. Read more

Readers' Choice Awards Seniors Finalist: The Greens at Hammonds Lane

Enterprise Homes, Inc., has transformed a trash-strewn lot into affordable apartments for seniors in its greenest development to date. Read more

Special-Needs Finalist: 15th & Commercial

15th & Commercial incorporates permanent affordable housing, transitional housing, and a development center for homeless children all on one site. Read more

Readers' Choice Awards Special-Needs Finalist: OpenDoors Housing

OpenDoors Housing is home to some of Rhode Island's hardest to house. Read more

Readers' Choice Awards Special-Needs Finalist: Safe Home

Safe Home is the first project of its type in South Dakota. Read more

Readers' Choice Awards Special-Needs Finalist: The Commons at Livingston

The first development of its kind in Ohio, The Commons at Livingston provides apartments for disabled bets and chronically homeless. Read more

Special-Needs Finalist: Verde Gardens

Verde Gardens addresses two essential needs, food and shelter, by providing townhomes for formerly homeless families, an organic farm, and a public market. Read more

Readers' Choice Awards Urban Finalist: Doria Apartment Homes

Jamboree Housing set a goal in 2011 to designate at least 10 percent of the homes at each of its new construction properties for people with special needs. Doria Apartment Homes in Irvine is its first such integrated property. Read more

Urban Finalist: Gold Seal Lofts

Over the past six years, The Domain Cos. has invested more than $130 million in Mid-City New Orleans, which was devastated by Hurricane Katrina. Read more

Urban Finalist: The Beacon

Carlisle Development Group's The Beacon is providing a bright future for families in Miami. Read more

Urban Finalist: The Homes at Old Colony

Beacon Communities Development and the Boston Housing Authority have started the transformation of Old Colony, one of the oldest public housing projects in the United States. Read more

Mixed Results Mixed Results

Chicago Housing Authority recalibrates its Plan for Transformation. Read more

Warning: Your Assessor Doesn't Understand Tax Credit Properties

Owners of low-income housing tax credit properties face an unending struggle to keep their property tax assessments at a reasonable level. Read more

Pop Quiz with John Henneberger

Meet the co-director of the Texas Low Income Housing Information Service. Read more

2012 AHF Readers' Choice Awards 2012 AHF Readers' Choice Awards

AFFORDABLE HOUSING FINANCE is proud to present the 34 finalists of its eighth annual Readers' Choice Awards for the nation's top developments of 2011 and 2012. Read more

NY Study Shows Economic Impact of Affordable Housing

The affordable housing industry in New York state creates 31,800 jobs during construction and sustains 5,650 permanent jobs each year, according to a recent study. Read more

California Housing Bill Dies

Developers in California were dealt a huge blow May 31 when a bill aimed at creating a permanent funding source for affordable housing died in the state Senate. Read more

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