Affordable Housing

CHANNAHON – November 03, 2026 -- Lincoln Avenue Communities (LAC) has broken ground on The Talia, a three-story, 40-unit affordable housing community for adults aged 55 and older in Channahon, Illinois, with completion expected in 2027.

The project is LAC's fourth ground-up construction project in Illinois. It is financed in part by federal Low-Income Housing Tax Credits (LIHTC) that the Illinois Housing Development Authority (IHDA) awarded in 2025, when the project was known as Mallard Point Senior Apartments.

All 40 units target households at or below 60% of area median income

Thirty units will be leased to seniors earning up to 60% of area median income (AMI). The remaining 10 are reserved for those earning up to 30% AMI.

CHARLOTTE – October 30, 2026 -- Wood Partners and Sarofim Realty Advisors will break ground in November on Village Park, a 372-unit multifamily community in Charlotte's Highland Creek and Prosperity Church area, with J.P. Morgan providing financing.

The project is slated to open in May 2028.

Village Park Sits Beside Wood Partners' Earlier Prosperity Village Development

The site is at the corner of Prosperity Church and Benfield Roads, next to Prosperity Village, a community Wood Partners previously developed. It has direct access to Interstate 485, which connects to Uptown Charlotte and Huntersville, and a Publix grocery store is next door.

"Building next to Prosperity Village allows us to keep investing in the neighborhood," said Carter Siegel, Regional Director of Development at Wood Partners.

Maryville, Tenn. – October 29, 2026 -- Clayton, which built more than 59,000 homes nationwide in 2025, has released the teaser for "Built: A Story of Factory-Built Housing in America," a documentary short that makes the case for manufactured housing as an answer to the U.S. attainable housing shortage.

Film draws on Harvard, HUD and Oak Ridge experts

Barrett Burgin directed the film, and Big Slate Media produced it. Interviewees include representatives of the Harvard Joint Center for Housing Studies, the Oak Ridge History Museum and the U.S. Department of Housing and Urban Development, alongside historians, researchers, builders and housing advocates.

The film traces factory-built housing from the World War II era in Oak Ridge, Tennessee, to the present. It examines how the sector has responded to supply constraints and opened new routes to homeownership.

Rancho Cucamonga – October 28, 2026 -- Standard & Poor's Global Ratings (S&P) has affirmed nonprofit affordable housing developer National CORE's A+ credit rating for a fourth consecutive year, citing EBITDA that nearly doubled year over year and operating margins above 20%.

S&P points to revenue growth that outpaced expenses

S&P's rating rationale lists six strengths: very strong management and governance, including stable leadership and a three-year strategic plan; revenue growth that materially outpaced expenses; operating margins above 20%; a growing fee-managed portfolio; a geographically diverse portfolio; and extremely strong liquidity.

National CORE became only the second nonprofit affordable housing developer in the U.S. to secure an A+ rating from S&P in 2021. The following year it issued $100 million in social bonds, opening a new source of capital for housing acquisition, development and rehabilitation.

New York – October 16, 2026 -- The NHP Foundation (NHPF) has created a new Vice President of Fundraising and Communications position and filled it with Megan Carras, who raised more than $25 million in revenue at her previous employer, the Washington Area Community Investment Fund (WACIF).

Carras joins NHPF's New York office with more than a decade of experience in community development finance, nonprofit fundraising, communications and research. NHPF, a national not-for-profit developer of affordable housing, will rely on her to build funding partnerships and direct strategic communications.

Las Vegas – October 16, 2026 -- Lennar has broken ground on The Foundry, a gated community of more than 1,000 townhomes and single-family detached homes priced from the $300,000s on roughly 70 acres in downtown Las Vegas. Vertical construction is expected to begin in October 2027.

Lennar redevelops former Cashman Center and Grant Sawyer Building sites

The project spans approximately 70 acres across the former Grant Sawyer Building and Cashman Center sites near Las Vegas Boulevard and East Washington Avenue. It is being advanced through a public-private partnership among the City of Las Vegas, the State of Nevada and Lennar. The partners aim to convert underutilized downtown properties into housing for first-time buyers, young families and others seeking to own a home.

Albany, N.Y. – September 29, 2026 -- Foss & Company has closed four historic rehabilitation investments in Buffalo, Albany, Fredonia and Kingston, New York, creating or preserving 156 affordable housing units by pairing state and federal Historic Tax Credits with New York State Homes and Community Renewal's (HCR) Small Building Participation Loan Program (PLP).

Four New York buildings convert to 156 affordable units via blended financing

The Eckhardt Building, a 1940s former department store in Buffalo's Broadway-Fillmore Historic District, is now complete with 28 apartments restricted to an average of 65% Area Median Income (AMI) and roughly 22,000 square feet of commercial space leased to a nonprofit child day care provider.

Grand Rapids – September 24, 2026 -- The Grand Rapids Housing Commission (GRHC) hosted camera crews from the Public Television series "All Access hosted by Andy Garcia" on September 23, 2026, for a segment examining how the agency is combining rental assistance, affordable housing development, and resident services to address a tightening West Michigan housing market.

GRHC administers federal rental assistance to thousands of West Michigan households

The Commission delivers housing support through public housing, Housing Choice Vouchers, Project-Based Vouchers, and other federally funded programs, reaching thousands of individuals and families in Kent County.

Glendale, Calif. – September 24, 2026 -- Linc Housing and National CORE have opened Pioneer Village, a 340-home affordable housing community in Glendale, California, drawing more than 7,500 applications for its units.

Development delivers 340 homes across three five-story buildings on 2.79 acres

Located at 515 Pioneer Drive, the elevator-served complex includes 92 units for low-income seniors aged 62 and older, 245 family units, and three apartments for on-site staff. Homes are affordable to households earning between 30% and 80% of area median income. Construction began in January 2023 and finished in July 2026, with resident move-ins starting in June.

Grand Rapids, Mich. – September 24, 2026 -- Mercantile Bank is deploying $150,000 in matching grants to eight Michigan nonprofit organizations through the Federal Home Loan Bank of Indianapolis Community Multiplier Member Match Program, targeting affordable housing gaps statewide.

Mercantile Bank channels $150,000 through FHLBank Indianapolis matching program

The Community Multiplier program allows member financial institutions to support affordable housing nonprofits via matching grants. Mercantile's funding will back initiatives spanning housing stability, housing counseling and education, organizational capacity building, and affordable housing development and preservation.