The 234 Apartment

NASHVILLE – Officially known as the Low- Income Housing Tax Credit Program administered by the Tennessee Housing Development Agency , an initiative that could have brought up to three housing developments to Sevier County resulted in none of the three proposals being selected for awards of tax credits. Had any of the three proposals been approved, the development would have represented the first time since 2012 that a multifamily housing development in Sevier County received state allocations in the form of tax credits from the agency. Proposals for tax credits were made in February by private developers across Tennessee for either the construction of new units or the rehabilitation of existing units. On Tuesday, THDA released the results of its ranking system for projects proposed across the state. Michael Blade, THDA's director and assistant legal counsel for multifamily development , verified that none of the three projects proposed for Sevier County made the cut. "N...

David Engberg wheels through the third apartment he’s had in two years. PHOTO BY KARLOS RENE AYALA David Engberg and James Clark cling to their independence by a thread. Both men were born with cerebral palsy and live off Supplemental Security Income , or SSI—a stipend that puts them under the federal poverty line . So far, they’ve managed to keep a roof over their heads by splitting the cost of rent. But since the affordable housing crisis hit , the roommates have been priced out of two apartments in just two years. The stressful shuffling was witnessed by Jennifer Schmidt, their case manager at InAlliance, a nonprofit that provides employment and living services for people with disabilities. Advocates such as Schmidt are becoming increasingly alarmed by the way skyrocketing rents are affecting Sacramento County ’s 14, 000 disabled residents . Several independent surveys suggest Sacramento is experiencing some of the largest rent increases in the nation. Few feel those tectonic ma...

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

By David Pendered Atlanta’s first transportation corridor of the future is to be established in Southwest Atlanta along Campbellton Road by the city and MARTA. Naturally, a computer and the internet of things are at the heart of the effort. MARTA has increased the frequency of buses based out of the Oakland City Station to serve Campbellton Road , a corridor with many transit-dependent riders. Credit: David Pendered Futuristic traffic signals , now slated for installation, have the capacity to coordinate competing mobility demands of vehicles, bicyclists and pedestrians, according to Faye DiMassimo, general manager of the Renew Atlanta infrastructure bond program and the city’s sales-tax-funded projects. These traffic signals already are being installed along North Avenue. City officials plan to cut the ribbon Sept. 16 on this “ smart corridor ” during an event that’s to include a demonstration of autonomous vehicles. The North Avenue project , a pilot project, is just the begi...