Owners launch fund to keep New Yorkers in their homesMay 21, 2020-Some of the city’s largest property owners have created a new fund to help keep vulnerable New Yorkers impacted by the Covid-19 crisis in their homes. Called Project Parachute, the fund has been launched with $4 million in contributions from companies including LIHC, LeFrak, Durst, Resnick and Rose.
LIHC Investment Secures Refi for 2 Affordable New Jersey CommunitiesFebruary 3, 2020-in: Multi-Housing News by: Laura Calugar on: January 28, 2020 Rockport Mortgage closed the FHA Section 223(f) loans for properties in Verona and Pine Hill. LIHC Investment Group has obtained two loans for the refinancing of Verona Senior Citizens Apartments in Verona, N.J., and Mansion Apartments in Pine Hill, N.J. Rockport Mortgage Corp. closed the […]
Co-Living Grows UpJanuary 17, 2020-in: The New York Times by: Jane Margolies on: January 14, 2020, Updated January 16th. As co-living companies race to open projects in New York, the options for renters are multiplying. New Yorkers have long shared apartments in order to afford the city’s famously high rents. This, of course, often entails hunting down an apartment […]
Investors partner on $170M Bronx affordable housing purchaseJanuary 6, 2020-LIHC Investment Group, Belveron Partners and Camber Property Group are buying eight buildings in the borough from Cammeby’s International Group. The Mitchell-Llama buildings contain 1,275 affordable housing units in total, along with 10 commercial units.
East Village Section 8 Homes Are Getting $7.5M In RenovationsNovember 1, 2019-Renovations are underway at hundreds of Section 8-backed apartments in the East Village, developers announced Tuesday. More than 240 apartments in the East Village will not only be preserved as Section 8 housing for at least another 40 years, but completely renovated, under an agreement between the Center Developer Corporation, LIHC Investment Group and a slew of government agencies, including the Department of Housing Preservation and Development, NYC Housing Development Corporation and U.S. Housing and Urban Development.
NYC is banking on Common to deliver affordable bedsOctober 11, 2019-Common and Atlanta-based PadSpilt submitted winning proposals as part of its affordable co-living pilot program.
New York City is jumping into bed with two co-living firms to build affordable housing. The city’s Department of Housing Preservation and Development said Tuesday it will work with Common and Atlanta-based PadSplit — along with each firm’s development partner — to create co-living units.
Harlem Mitchell-Lama Building To Remain Affordable For 40 YearsOctober 3, 2018-The Lakeview Apartments' Mitchell-Lama status will be dissolved in a deal to keep the building affordable for the next four decades. Nearly 450 apartment units at the Lakeview Apartments on Fifth Avenue and East 107th Street will be rented at below-market prices for the next 40 years in a deal that will dissolve the building's status as a Mitchell-lama building, a spokesperson for the LIHC Investment Group said.
Affordability Preserved on New York City ApartmentsAugust 17, 2018-More than 650 affordable housing units in New York City have been preserved for decades to come under a deal by LIHC Investment Group and local officials. Located in neighborhoods where many similar buildings have converted to market-rate homes, the six properties feature 669 units of project-based Sec. 8 housing.
More Than 650 Affordable Apartments Preserved in High-Cost New York City NeighborhoodsAugust 15, 2018-The New York City Department of Housing Preservation and Development (HPD) and New York City Housing Development Corporation (HDC) join LIHC Investment Group to announce the preservation of 669 units of project-based Section 8 housing in high-cost New York City neighborhoods where the majority of similar buildings have converted to market-rate.
City Strikes Deal To Preserve 95 Affordable Inwood ApartmentsAugust 15, 2018-The city has struck a deal with housing developer LIHC Investment Group to preserve nearly 100 below-market units in an Inwood apartment building. The project-based Section 8 housing apartments are located the Inwood Houses on Post Avenue between Dyckman and Academy streets, city officials said.
LIHC Investment Group Buys Harlem Buildings for $17MAugust 2, 2018-One of the largest owners of affordable housing in the country, LIHC Investment Group, picked up a pair of Harlem buildings for $17 million, according to Dane Real Estate, which brokered the deal for the buyers.
Camber Property Group purchases pair of Bronx buildingsNovember 29, 2017-Mitchell-Lama buildings known as Carol Gardens are located at 820 and 880 Thieriot Avenue
Camber Property Group has bought two Bronx apartment buildings for $19 million, marking the first time that the properties have changed hands since they were built in 1968.
Investors bring lawsuit to block Starrett City saleOctober 1, 2017-Stakeholders in the affordable-housing complex include President Donald Trump
A group of investors in Starrett City, an affordable-housing complex in Brooklyn that counts President Donald Trump as a stakeholder, sued the owners in an attempt to block a proposed sale of the property for more than $900 million.
Plaza Undergoing Massive RehabSeptember 29, 2017-Owners of the 380 unit Shore Plaza affordable housing development on Border Street have started a massive and much needed rehabilitation. LIHC Investment Group and Weston Associates Inc. announced they are spending over $14 million to improve the aging 10 acre development’s facade, interior and open space.
Boston Affordable Housing Gets $14M RenovationSeptember 19, 2017-LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.
A joint venture of LIHC Investment Group and Weston Associates Inc. has enacted a plan to keep the Shore Plaza Apartments, a 380-unit affordable housing community in East Boston, Mass., affordable for the next two decades.
948 Affordable Units Preserved in the BronxAugust 18, 2017-LIHC Investment Group, Belveron Partners and Camber Property Group will rehabilitate Stevenson Commons in the New York City borough. The initiative is moving forward through an agreement with the New York City Housing Development Corp.
$14.5M donation secures affordable housing at Cambridge’s Close BuildingJuly 27, 2017-by: Wicked Local Cambridge A former Cambridge chocolate factory turned affordable housing in 1977 has been donated to the current manager of the building, the not-for-profit Just-A-Start Corporation, securing its affordability for years to come. LP Solutions LLC, an affiliate of LIHC Investment Group — one of the nation’s largest owners of affordable housing, announced […]
Low Income Housing Corporation (LIHC) Announces Corporate Name Change To LIHC Investment GroupApril 12, 2017-For Immediate Release Name Change Reflects a Greater Investment in Affordable Communities and Recent Growth in Preservation Transactions Portland, Maine— Low Income Housing Corporation, one of the nation’s largest owners of affordable housing, today announced a corporate name change to LIHC Investment Group to reflect a deepening investment in the income-restricted properties in the company’s […]