“A legendary heavy-metal band is helping Houston-area students prepare for careers in oil and gas and other industries.
The Metallica Scholars Initiative, created by the band’s nonprofit All Within My Hands Foundation (AWMH), and footwear and apparel firm Wolverine (NYSE: WWW) have donated $100,000 in scholarships to Lone Star College (LSC) students pursuing traditional trades and other applied learning careers. The donation, which Wolverine supplemented with free boots and other items, has provided direct funding to 120 LSC students.”
“As some capital sources pulled back on construction lending due to COVID-19, workforce housing developers and other builders have increasingly turned to HUD 221(d)(4) financing.”
“Avanath Capital Management and MacFarlane Partners, two of the largest African American-owned real estate companies in the US, have jointly filed paperwork with the SEC to create a new REIT. It is reportedly the first REIT to focus on Opportunity Zones, though it will look to other properties as well.
The company will ‘invest in, develop, redevelop and manage mostly affordable and workforce multifamily properties in Opportunity zones, in dynamic, US metropolitan areas,’ the filing said.”
“The Paces Foundation and Soho Housing Partners are pleased to announce they have entered into a strategic partnership, combining Paces’ industry leading affordable housing development and preservation services with Soho’s exceptional capabilities structuring complex financial solutions that make quality investments for workforce housing communities possible.”
This is the fourth installment of a five-part series entitled “Why Buildings Matter” presented by Chris Mathis of Mathis Consulting Company (MC2). In this episode, Chris discusses market transformation and future performance challenges.
This is the third installment of a five-part series entitled “Why Buildings Matter” presented by Chris Mathis of Mathis Consulting Company (MC2). In this episode, Chris discusses trends, building codes, and disasters.
This is the second of a five-part series entitled “Why Buildings Matter” presented by Chris Mathis of Mathis Consulting Company (MC2). In this episode, Chris discusses energy and water efficiency in commercial and residential buildings.
“Less than 10% of rental units are affordable to renter households earning 50% of median renter income (MRI), according to new research released today by Freddie Mac (OTCQB: FMCC) Multifamily. Building on last year’s ‘Diminishing Affordability – Inescapable’ report, the new study isolates renter income to more accurately capture the availability of affordable housing to individual renters.”
This is the first of a five-part series entitled “Why Buildings Matter” presented by Chris Mathis of Mathis Consulting Company (MC2). In this episode, Chris provides an excellent overview of why energy-efficient buildings are so important.
By Collin Huguley – Staff Writer, Charlotte Business Journal
“A Charlotte developer is moving forward with a pair of workforce housing projects in Rock Hill after receiving key approvals.
Dunbar Place Apartment Homes
Tartan Residential, a Charlotte-based developer of workforce
and affordable housing, is planning two projects in Rock Hill: Johnston Farms
Apartment Homes and Dunbar Place Apartment Homes. Rezoning requests for both
projects were approved by Rock Hill City Council on Monday evening.
The larger of the two projects is Johnston Farms, which will
be developed on a 24-acre site at the corner of South Anderson and Princeton
roads. It will include five three-story buildings with 120 two- and
three-bedroom units, according to city documents.
Dunbar Place will be developed on a 6.7-acre site on the
corner of South Cherry Road and Constitution Boulevard. It will have commercial
uses as well. On the housing side, the project will include one four-story
building with 100 two-bedroom apartments, documents say.
The Dunbar Place site also includes an existing
16,000-square-foot building that was formerly used by American Legion. That
building will be redeveloped, with about half of it being occupied by J.M. Cope
Construction for its headquarters. The remainder of the building will be taken
by a restaurant or retail use.
Tartan’s Jeff Carroll told the Charlotte Business Journal
that he hopes to close on acquisition of the properties and begin construction
on the projects in early 2021.
There are two possibilities for financing the projects,
documents say. The projects will be funded by either tax-exempt bonds or
opportunity zone financing.
If tax-exempt bonds are used, Tartan proposes rent and
income restrictions between 30% and 80% of area median income, with a
property-wide average of 60%. If opportunity zone financing is used, there will
be rent and income restrictions between 50% and 100% of AMI, with an average of
80%.
Both housing projects will also include a workforce-training
incentive program to help residents earn down payment assistance on future
homes. Residents who complete fields of study at a local community college,
technical school or university will qualify for assistance on a newly
constructed home.
Documents say the program will provide a maximum of $10,000 per unit in assistance for up to 18 residents per year at Johnston Farms and a maximum of $10,000 per unit in assistance for up to 15 residents per year at Dunbar Place.”
