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 . ...

The Tapiz at Mariposa apartment project , part of Denver Housing Authority ’s Mariposa District redevelopment project in the Alma Lincoln Park neighborhood . (Kevin J. Beaty/Denverite) People who are now happy to call the Mariposa District home would have tried to avoid the area in the not so distant past. “The projects came in here in 1952,” said Bob Cordova, a resident at the Tapiz at Mariposa. “This was the meanest goddamn area of Denver growing up, and it only got worse.” Cordova said he moved to the 100-unit Tapiz apartment building not long after the eight- story senior housing project was completed in 2011. “It feels safe in the area now,” Cordova said. The Tapiz was the first of eight redevelopment phases that Denver Housing Authority undertook to demolish and replace its 250- unit South Lincoln Park Homes . Several residents refer to the former complex as “the projects.” South Lincoln Homes complex along Navajo Street before they were demolished for the Mariposa Distr...

Seven years ago, a turn down Osage Street from West Colfax Avenue would take you to an area with pretty much the same people it has now: mostly Hispanic, mostly women, and mostly low-income. While the faces haven’t changed, the face of public housing has. Colorful new apartments now stand in the mixed- income neighborhood , surrounded by parks, and a new pool that replaced the Denver Housing Authority ’s severely depressed and obsolete South Lincoln Homes . Though the contemporary architecture might evoke fears of a “problem” population being driven out by a more affluent group of residents, the $ 197 million Mariposa District wasn ’t a ploy by DHA to build more luxury apartments in central Denver . Instead, it was a plan to give the residents who already lived there an upgrade – and more options by tripling the number of units available. RJ Sangosti, The Denver Post Doris Watson recently moved into a two bedroom apartment that is part of the $197 million redevelopment of the South L...

Centre Street Partners , which is comprised of three local companies — The Community Builders, Jamaica Plain Neighborhood Development Corporation and Urban Edge, have been selected to begin the restoration of the Mildred C. Hailey public housing apartments . Hailey Apartments , Wednesday, May 18, 2016." width="771" height="518" class="size-large wp-image-19570" /> Richard Heath Dedication of Bromley Heath as Mildred C. Hailey Apartments , Wednesday, May 18, 2016. In February the Boston Housing Authority (BHA) announced they were seeking a private developer to renovate the Jackson Square apartment complex into a mixed- income community , with a commitment to preserve all of the existing affordable housing units . “In order to meet the housing needs of all of our residents, we must think creatively to preserve our existing affordable housing stock , while developing new housing,” said Mayor Martin Walsh via a press release on August 8th. “I am pl...

With SoCal rents rising , developers are busy building apartment communities , particularly in Los Angeles. L.A. remains among the top 10 least affordable housing markets in the nation. Rents climbed to $2,054 in January, way above the national average . Ballooning home prices have made home-ownership more difficult, and in turn put downward pressure on apartment vacancy rates . Despite the issues with affordability and the growing amount of lifestyle supply, we expect continued strong demand . The pronounced need for housing has resulted in a construction boom, and there are no signs of slowing down. At this point, everyone is trying to get a slice of the action, buying and building along the way. According to Yardi Matrix data , these are the top 10 owners in the Los Angeles market , based on unit counts. 10. Aimco Palazzo East at Park La Brea Aimco, or Apartment Investment Management Co., is among the largest owners and operators of apartment communities in the United States. T...

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...