Located in the heart of Atlanta’s Old Fourth Ward, the original Bedford Pines housing community was developed as project-based Section 8 housing in the 1970s. Wingate Companies sought to redevelop the site to better meet the needs of the tenant population and better fit the rapidly redeveloping neighborhood.
Federation Gardens and Federation Towers are two properties in Miami that together have 275 units, originally financed with 202 direct loans from HUD and subsidized under Project-Based Section 8 Housing Assistance Payments (HAP) contracts.
Admiralty Apartments is a 48-unit affordable housing community located in Port Townsend, Washington overlooking Port Townsend Bay and is a contributing property to the Port Townsend Historic District. Originally constructed in 1928 as a hotel, it was converted to affordable senior housing in 1972. Thirty-eight units are subsidized under a Project-Based Section 8 Housing Assistance Payments (HAP) contract.
In 2018, Market North, a 204-unit multifamily project located in Wilmington, North Carolina, experienced extreme damage after Hurricane Florence. All residents were forced to vacate the property. The project has a project-based Section 8 Housing Assistance Payments (HAP) contract assisting 201 units and is regulated under HUD’s LIHPRHA program.
Moving the Section 8 budget authority from LaDawn and renewing a contract with 100% Section 8 subsidy at Normandie and Osmond facilitated CPP’s financing and significant renovation of 98 units of subsidized housing with low-income housing tax credits.
Hilltop Village, Hampton Court, and Northtowne Village are three 100% project-based Section 8 subsidized projects in Toledo, Ohio with a total of 208 units. All three projects previously had debt restructured through HUD’s MTM program, with senior FHA insured financing and subordinate MTM debt held by HUD payable out of surplus cash.