Apartment City

RIO DE JANEIRO ― Seven years ago, Vila Autódromo was little more than a tranquil fishing village on the edge of Jacarepagua Lagoon, next to the racetrack for which it was named. Like the hundreds of other favelas that dot Rio de Janeiro ’s landscape, it had long been neglected by the city government , and it lacked many basic public services that are standard in the fast- growing wealthier neighborhoods just across the water. But to the more than 600 families that lived there, it was home. “This was a paradise,” said Luiz Cláudio Silva, who lived in Autódromo for more than 20 years. “I thought that I would live here for the rest of my life.” By the time the Rio Olympics are over, just 20 of the families who lived in Autódromo in 2009, the year the International Olympic Committee chose the city to host the games, will remain. The community, which sits less than a mile away from Rio’s Olympic Park, was crushed so that the city could build new access roads to connect Olympic venues . ...

Plans to renovate Lassiter Courts , a public housing complex in the city’s Southeast Community, will move forward after getting state approval this summer for an important piece of funding. But the state’s rejection of similar funding at Spratley House will delay plans there until at least next year. The Newport News Redevelopment and Housing Authority plans to do the same kind of work at Lassiter — about $5.9 million worth — that it has done at Oyster Point, Cypress and Brighton apartment complexes : renovating kitchens, fixing up roofs and floors, and working on HVAC systems, to name a few plans. public housing complex es get step closer to renovation" class="trb_em_ic_img" title="Two Newport News public housing complex es get step closer to renovation" src="src" /> Those properties have been or will be renovated under a program called Rental Assistance Demonstration , or RAD, which is operated under the Department of Housing and Urban Develop...

CLOSE Since January journalists David Plazas and George Walker IV have examined how pro-growth policies have prepared Nashville for prosperity, but it has been paired with growing inequality in their "Costs of Growth and Change in Nashville" series. Wochit The buyers of Riverchase Apartments say they don't plan to leave the federal Low Income Housing Tax Credit Program, a move that would've allowed them to charge market rates for the apartments. Riverchase Apartments in McFerrin Park has a new owner. (Photo: Submitted) Story Highlights Riverchase Apartments is one of the few remaining low- income housing complexes near downtown. Roughly 99 residents use Section 8 vouchers to help pay their rents compared with 106 a year ago. Nashville- based Elmington Property Management now handles leasing and management of Riverchase Apartments. A new Nashville- based company  has paid $11.2 million for Riverchase Apartments, one of the few remaining low- income housing comple...

Lake Village Apartments is one of two Ann Arbor complexes bought this month in a record- setting deal involving The Habitat Co. Chris Asadian | AnnArbor.com Two of Ann Arbor ’s largest commercial properties were bought for a combined $85.7 million this month by an entity of the Chicago-based company that had been managing them. The Habitat Co. LLC acquired Windemere Apartments and Lake Village of Ann Arbor from Northwestern Mutual Life Insurance Company . The deals set records in the Ann Arbor market for the price paid per unit, signaling local impact of the national multifamily market experiencing a rebound. Sources said the Windemere deal is a record $92,083 for the 1980s-era property on the city’s north side near Nixon Road. And the Lake Village deal , at $115,277 per unit in the complex on South Main Street , is the highest in the market, based on information available to Habitat, said Matt Fiascone , senior vice president of finance and investment. “We think it’s the high...

Last Updated Aug 19, 2017 4:54 PM EDT Maryland Democrats are demanding a slew of records from Kushner Companies LLC after reports that its subsidiaries' apartment complexes receiving public housing payments are getting judges to order the arrest of delinquent renters and making rent payments unnecessarily difficult for tenants.  President Trump's son-in-law and senior adviser Jared Kushner stepped down as CEO of Kushner Companies when he joined the White House, but retains a significant financial stake in the business. The firm has received $6.1 million in federal rental subsidies through the Department of Housing and Urban Development (HUD) for three apartment complexes in Maryland since January 2015, according to a recent Baltimore Sun report .  Those subsidies help tenants pay their rent. But the Sun reported Kushner Companies is "the most aggressive [firm] in Maryland" in using a debt collection tactic that urges judges to arrest people who fail to appe...

August 17, 2017 https://www.masshousing.com MassHousing has provided $17.6 million in affordable housing financing to the Claremont Companies for the refinancing of the 200-unit Solemar at South Dartmouth. The refinancing of the mixed- income senior citizen community preserves the affordability of the property’s 100 affordable units through 2034. Affordability of 100 units will be extended to 2034 “This transaction provides a great outcome for the residents of Solemar at South Dartmouth and for the Claremont Companies,” said MassHousing Executive Director Tim Sullivan . “This refinancing extends housing affordability protections for lower- income senior citizens , and improves the property’s long- term financial health , all without using scarce state resources . And it demonstrates MassHousing’s commitment to working creatively with the owners and developers of affordable housing , to offer competitive financial products suited to their unique needs, while meeting the Commonwealth...