Crime-ridden Section 8 community sheds reputation

May 05, 2015

A crime-ridden Section 8 community in East Austin is shedding its reputation after a 15-month, $250,000 effort by new owners. AUSTIN -- An East Austin apartment complex that had a reputation for so much crime, taxis would not stop there, has undergone a transformation in the last 15 months thanks to a cooperative effort by its new owners and Austin police. "I've been here nine years," Susan Baker said, walking through what used to be Mason Manor Apartments, now Lupine Terrace Apartments. "This is home." She's always kept fait ...

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Top 10 Affordable Housing Companies Completing Acquisitions in 2014

Apr 15, 2015

RANK (VS. 2013) COMPANY INFO EXECUTIVE CONTACT AFFORDABLE HOUSING UNITS ACQUIRED IN 2014 REGION(S) ORG. TYPE 1 (new) L+M DEVELOPMENT PARTNERS 1865 Palmer Ave., Suite 203; Larchmont, NY 10538 (914) 833-3000 | www.lmdevpartners.com Ron Moelis, CEO 2,290 NE, SC, W For-profit Company Fact: L+M tops the acquisition list, acquiring more than 2,200 units in five properties 2014. 2 (5) THE MILLENNIA COS. 8111 Rockside Road; Cleveland, OH 44125 (216) 520-1250 | www.mhmtld. ...

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Top 50 Affordable Housing Owners of 2014

Apr 15, 2015

RANK (VS. 2013) COMPANY INFO EXECUTIVE CONTACT AFFORDABLE UNITS PROJECTS OWNED REGION(S) ORG. TYPE 1 (1) THE MICHAELS ORGANIZATION 3 E. Stow Road, Suite 100; P.O. Box 994; Marlton, NJ 08053 (856) 596-3008 | www.themichaelsorg.com John O'Donnell, president 46,662 367 National For-profit Company Fact:The Michaels Organization, which owns 367 affordable housing developments with 46,662 units, ...

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Carnegie Towers changes hands

Apr 14, 2015

Carnegie Towers has a new owner that borough officials think is committed to making “significant upgrades” to the federally-subsidized apartment building. Capital Realty Group of Spring Valley, N.Y., purchased the 10-story, 176-unit housing complex on March 10. They could not be reached for comment. Officials at Carnegie Towers declined to comment. The 1.8-acre property is located on Capitol Street in Carnegie. County real-estate records show the property was assessed at $2.2 million. The previous owners, Carnegie Towers ...

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Chelsea’s Tallest Building Sells to New York Company

Jan 16, 2014

A New York real estate company specializing in Section 8 housing has purchased the Broadway Glen apartments on upper Broadway for $9.5 million and plans to update the building. Sam Horowitz of Capital Realty Group in Spring Valley, NY – located just beyond the Tappan Zee Bridge in suburban New York City – said they recently purchased the property and plan to keep it affordable. “We’re leaving it as is and we’re going to be doing some upgrades and rehabilitation on certain parts of the building. It will remain affordabl ...

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