Glenn Petherick Author Archives

Paying It Forward: Permanent Supportive Housing for Homeless Female Veterans and Families Rises on Former Navy Land

7 min read

When completed next spring, Blue Butterfly Village in the San Pedro section of Los Angeles will be more than just another housing development. Rather, with affordable apartments and supportive services, it will provide a safe and nurturing environment for the special but vulnerable households that will have priority for occupancy: homeless women veterans and their children.

Revitalizing the Core: Vacant Former Newspaper Complex in Worcester to See New Life as Mixed-Use Complex

7 min read

In Worcester, Mass., a former industrial city of 181,000 battered for decades by population and job losses, the federal new markets tax credit is helping to finance the redevelopment of five vacant downtown buildings once used by the local daily newspaper into a new urban education and business center.

The Diversification Strategy: Tom Capp and Gorman & Company Develop a Variety of Projects, Tap Different Funding Sources

7 min read

The way that Tom Capp and Gorman & Company, Inc. approach the development of multifamily rental housing, historic preservation, and mixed-use real estate projects is to always be on the lookout – for new opportunities, funding sources, and lessons.

Resident Services: Are Your Property’s Services Hitting the Mark?

6 min read

Great resident services are good business at Crest Avenue Apartments, in Charleroi, Pa., a community south of Pittsburgh.

New Partnership Seeks to Boost FHA Multifamily Risk-Share Activity

3 min read

The U.S. Departments of Treasury and Housing and Urban Development have established a new partnership designed to stimulate greater use of the Federal Housing Administration’s multifamily risk-share loan program and reduce borrowing costs for developers and owners.

Case Study

Retrofit Loft 27, Lowell, Mass.

4 min read

Boston-based WinnCompanies has cut its electric bill for common areas by 25% at Loft 27, a 173-unit apartment building, as the result of efficiency retrofit and solar projects completed in 2012. The apartment development was created from the adaptive re-use of an historic former mill.

Low-Income Housing Tax Credit Multi-Investor Fund Activity

4 min read

Boston Capital planned to launch a new national multi-investor fund in July with a projected after-tax IRR to investors of 6.75%, according to Tom Pereira. The fund is expected to close in October.

The Big Picture: New Data Sheds Light on NMTC Investments During First Ten Years

5 min read

In the first 10 years of the federal new markets tax credit (NMTC) program, 8,060 investments totaling $31.1 billion were made in 3,849 businesses and projects throughout the country, according to new data and a companion summary released by the Community Development Financial Institutions (CDFI) Fund.

CDFI Fund Opens 12th NMTC Funding Round

1 min read

On August 5, the Community Development Financial Institutions (CDFI) Fund issued a notice of allocation availability (NOAA) to open the federal new markets tax credit program’s twelfth funding round.

Enhanced Iowa State Historic Credit Program Launches

2 min read

Iowa’s state historic tax credit program has been strengthened and made more predictable for developers by legislative changes that took effect July 1, 2014.

Getting Creative: Washington Area Municipalities Address Housing Needs While Dealing with Federal Cuts

8 min read

In the immediate Washington, D.C. metropolitan area, which has about four million people and high housing costs, local governments are using a variety of approaches to address affordable housing needs even as they differ in their priorities and available resources.

Jeff Kittle Solves Puzzles in Guiding Development at Herman & Kittle Properties

6 min read

If you ask Jeff Kittle what he likes about being a tax credit developer, he has a quick answer: “It’s a very interesting, complicated business, oftentimes like a puzzle. And I enjoy challenges.”

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