Envy Apartment

ALBUQUERQUE, N.M. — An affordable housing project in Albuquerque’s Southeast Heights that has been in the works since 2015 officially opened Thursday . Described as a high- design urban infill site , the 89- unit Casa Feliz apartment complex is a $17. 2 million redevelopment project that received funding from four sources. The bulk came from $12.5 million in low- income housing tax credits from the New Mexico Mortgage Finance Authority . City support for the project, which is located in the International District, includes $2.8 million from the Affordable Housing Fund . The New Mexico Housing Trust Fund kicked in $1.5 million and $400,000 came through the Ventana Fund, a nonprofit organization administered by MFA. The development, which is located at 443 Española Street SE, consists of efficiency, one-, two- and three-bedroom apartments. Casa Feliz is reserved for families and individuals with incomes at 30 to 60 percent of the area median household income of $48,900. Twenty per...

Reliable Sports owner Ken Vos sold to a different buyer. By Sydney.Smith@hollandsentinel.com (616) 546-4219 Reliable Sports isn ’t going anywhere. After Holland City Council approved an affordable housing development earlier this year, developer General Capital could not secure funding through the Michigan State Housing Development Authority , and Reliable Sports owner Ken Vos sold to another buyer who wants to keep the business open. Vos confirmed that the building is under contract to be sold in a sale that will be finalized at the end of September. The building located at 254 S. River Ave. was sold in July. Vos declined to share who the new owner will be, but said they "are a prominent figure in downtown Holland ." He still plans to retire, and a retirement sale is underway at the store. Since the business will remain open, that means the planned 54- unit affordable housing building Centennial Apartments will not happen — unless the new buyer decides to work with...

Duval Mobile Home Park in southeast Houston has 182 lots." />EXPAND The Duval Mobile Home Park in southeast Houston has 182 lots. Stephen Paulsen Elizabeth Perez loves her trailer park . But if she's ever forced to move, at least she has a back-up plan. A chatty 45-year-old with a wide smile, Perez has lived at and managed the Trinity Duval Mobile Home Park in southeast Houston since 2008. Used mobile homes here typically sell for $12,000 to $38,000, depending on their size and condition, she says. She remembers one woman buying a home for just $2,000, using her IRS refund. The Duval Mobile Home Park first opened in the 1950s. It was purchased last year by Trinity Community Group , a trailer park management company — and Perez worried about the future of the park. “I kept thinking, ‘Shoot, they're going to want to tear it down,’” Perez said. “I was kind of scared.” The company promised it would keep the park operational , according to Perez. Still, Perez accepts...

The Oasis Terraces housing complex in Singapore and the original cast of “Rent” How to tell if one has made it in America? See if they own a home. For decades, homeownership has been one of the cornerstones of the American dream, and the U.S. housing market was the envy of the world. But that’s changed. The federal mortgage subsidy complex , which turned (white) America into a nation of homeowners in the postwar decades and helped build the world’s largest middle class , is no longer doing what it’s supposed to. Faced with stagnating wages and ballooning property prices , fewer Americans can afford to buy their own homes. The mortgage interest deduction and Fannie Mae and Freddie Mac are turning into regressive subsidies, channeling taxpayer money to rich homeowners and driving up housing costs while a growing group of middle-income renters must fend for themselves. Rent-stabilization laws have become weaker over time. And New York is dealing with a crumbling public housing infrast...

Developer Jerry Epstein will replace his 202-unit Del Rey Shores apartment community built in the 1960s with a 544-unit complex in fewer, taller buildings. Marina Del Rey . The development will feature 12 four- and five-story buildings. The project is expected to be completed in two years." alt="An artist's rendering shows the Shores project to be built in Marina Del Rey . The development will feature 12 four- and five-story buildings. The project is expected to be completed in two years." /> An artist's rendering shows the Shores project to be built in Marina… (Shores ) The last surviving original developer of Marina del Rey will start work Monday on a $165- million apartment complex there that will replace one he built in the 1960s. The project is part of a push by Los Angeles County officials to spruce up the aging publicly owned marina , the largest pleasure boat harbor community in the United States. Leaseholders of land there have been urged to u...

But the city, which shares a border with the Bronx, has an enviable location, said Sam Mermelstein, a founding member of Enclave Equities, a development firm active there. About 30 minutes from Grand Central Terminal by way of the Metro- North commuter railroad , Mount Vernon is closer to Midtown Manhattan than many Brooklyn neighborhoods. Enclave is at work on a five-building, 179- unit residential rental project on former industrial property near the Fleetwood station that will offer Manhattan-style extras like rooftop terraces and gyms. And, in a break with recent nearby projects , the $ 48 million development , set to open next year, will offer all market-rate units. The rents for its one-bedrooms will be about $1,700 a month, which is less than half of what new- construction units cost in Lower Manhattan, according to online ads. “It makes no sense that this area is not booming,” Mr. Mermelstein said. One complaint from Mr. Mermelstein and others is that Mount Vernon’s retail...