9% TAX CREDIT AWARDED FOR A NEW 47 UNIT COMMUNITY IN PENNSYLVANIA

Posted by beacon on Fri, Oct 22, 2021 at 3:02 PM

Beacon, Construction, Pennsylvania, Senior Housing

Rendering by Kramer Marks Architects

Beacon Development Group is pleased to announce that HumanGood East has been awarded 9% tax credits by the Pennsylvania Housing Finance Agency (PHFA) for a 47 unit senior affordable housing community in the Port Richmond neighborhood of Philadelphia. Janney Street Apartments will serve seniors 62 years of age or older with 5 units set aside for formerly homeless seniors referred by the Philadelphia Office of Supportive Services. All units in the new four-story apartment complex will be one-bedroom apartments and average 670 square feet.

Janney Street Apartments received funding via 9% LIHTC in the amount of $12.0M and Pennsylvania Housing Affordability and Rehabilitation Enhancement (PHARE) Fund program in the amount of $0.6 million. Additionally, the project has been awarded $1.5 million from the City of Philadelphia and is receiving $1.5 million from the Bala Presbyterian Home Foundation.

Ethiopian Village Breaks Ground

Posted by beacon on Mon, Aug 9, 2021 at 6:11 PM

Construction, Senior Housing, Washington

Rendering by Environmental Works

BDG Senior Housing Developer Chris Moxon

Construction is set to begin next month on Ethiopian Village, a partnership between HumanGood and Ethiopian Community in Seattle. The project located in the Rainier Valley of Seattle, includes 90 units of affordable housing for low-income seniors with incomes ranging from 30% – 60% of AMI with 75% set aside for 50% or below AMI. The project will preserve community assets and help reduce displacement of low-income seniors while providing access to valuable services through a dedicated resident service coordinator. The ground floor will be an expansion of the existing Ethiopian Community Center providing a campus feel for community members and housing residents to interact and enjoy the amenities.

Anticipated Completion Date January 2023

Frederick Douglas Haynes Apartments & Castle Argyle Construction Update

Posted by beacon on Mon, Aug 2, 2021 at 3:13 PM

Acquisition/Rehab, Beacon, California, Construction, Family Housing, Historic Buildings, Occupied Rehabs, Senior Housing

New landscaping, walkways, and building wayfinding at Frederick Douglas Haynes Apartments.

New cabinetry and appliances in resident units at Frederick Douglas Haynes Apartments.

The redevelopment of the 104-unit Frederick Douglas Haynes Apartments in San Francisco, CA and 94-unit Castle Argyle Apartments in Los Angeles have both reached 50% completion. Each Community started extensive rehab in August 2020, the completed phase 1 redevelopment of Frederick Douglas Haynes included the renovation of all units in three buildings which also encompassed the property management office, laundry room and community room. New landscaping, walkways, repaved parking lots, and mailbox locations have also been installed.

Restored original signage at Castle Argyle Apartments.

New cabinetry and appliances in residential units at Castle Argyle Aprartments.

As we cross 50% project completion at Castle Argyle, much of the seismic foundation work has been completed and new sheer walls have been extended to the 7^th floor. A new elevator shaft has been constructed, and the total remodel of half the resident units is nearly done. The restoration of key architectural features in the coming work will showcase the building’s classic look.

HumanGood awarded $5.25M for affordable housing from the Department of Treasury

Posted by beacon on Wed, Mar 31, 2021 at 6:15 PM

Awards & Recognition, California, Pennsylvania, Senior Housing, Washington

We are pleased to announce that Beacon has helped its parent company HumanGood in securing an award from the Capital Magnet Fund of $5.25 million to finance the development of affordable housing in California, Washington and Pennsylvania. The Capital Magnet Fund (CMF) program supports financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities. This is the first CMF grant award ever received by HumanGood, and one of the largest grant awards allocated in this recent round of funding.

Beacon and HumanGood will use the grant award to address the challenges facing extremely low-income and very low-income senior households. Nationwide, there is a significant shortage of age-restricted affordable housing. According to the Harvard Joint Center for Housing Studies, the number of households aged 65 and older will grow from 48 to 79 million over the next two decades. In addition, the number of households aged 75 to 79 will increase 49% to 8.9 million by 2028 and increase another 20% to 10.7 million by 2038, a trend that also continues with households ages 80 and older. This increase in aging communities has produced an increased demand for age-restricted affordable housing. It is projected that by 2038, demand for affordable housing for low-income seniors will significantly outstrip the supply of these units.

Beacon and HumanGood have created a pipeline of ten projects that will preserve and create more than 700 affordable age-restricted rental units in California, Washington and Pennsylvania

More information on the awards can be found on the CDFI fund website at https://www.cdfifund.gov/node/1003286

Financing secured for a new 44 unit community in Pennsylvania

Posted by beacon on Tue, Feb 23, 2021 at 5:39 PM

Beacon, Construction, Pennsylvania, Senior Housing

Rendering by Kramer Marks Architects

HumanGood East in partnership with Inglis Housing Corporation has secured financing for a 44 unit affordable housing community in suburban Philadelphia. The site for the proposed Makemie Court community is adjacent to an existing HG community, Grace Court located in Yeadon, Delaware County. Makemie Court will consist of 44 units, including 32 units for individuals 55 years of age or older, 8 units for physically disabled individuals of any age, and 4 units reserved for physically disabled individuals 55 years of age or older.

Makemie Court will be co-developed by HumanGood East and Inglis Housing Corporation (Inglis). Inglis is a nonprofit organization whose founding dates back to 1877. Inglis’ mission is to enable people with physical disabilities — and those who care for them — to achieve their goals and live life to the fullest. Today, Inglis is the largest private provider of affordable accessible housing in the Greater Philadelphia region with more than 300 accessible, affordable apartment homes for people with disabilities.

All units at Makemie Court will be one-bedroom. The new four-story, mid-rise building will include an outdoor amenity space; including a gazebo, meditation garden and a parking area with 22 spots. A walking path will loop around the site and connect to the adjacent Grace Court. This walking path will create the community feeling of a campus and encourage interaction between the residents of the two properties. The first floor of Makemie Court will feature a lobby, community room with bathrooms and a demonstration kitchen, supportive services delivery space, a laundry room, mailroom, commissary, and a manager’s office. The total building square footage is estimated to be 41,552 GSF. Current plans are to have all units setup with Smart Home Technology. Units will sync with the Amazon Echo family of products to give tenants with physical disabilities the ability to be more independent.

The project is fully funded and expects to close its financing by June 2021. The sources of funding include the competitive low income housing tax credits from Pennsylvania Housing Finance Agency, HOME funds from Delaware County, Affordable Housing Program funds from the Federal Home Loan Bank of Pittsburgh and operating subsidy from the Chester Housing Authority. The equity partner is Raymond James and the debt provider is TD Bank. In addition both sponsors have committed funds to the project. Construction is expected to begin this summer.

Northaven Three Construction Update

Posted by beacon on Tue, Dec 15, 2020 at 9:27 PM

Beacon, Construction, Senior Housing, Washington

Northaven Three will be located in the current parking lot of Northaven Senior Living creating an opportunity to share amenities with the existing facilities. As you can see by the photos, the site is very narrow and Walsh Construction’s initial demolition and excavation activities have to be thoughtfully orchestrated. Stay tuned for more updates as the project progresses!

Construction has begun on Northaven Three

Posted by beacon on Fri, Oct 30, 2020 at 4:53 PM

Beacon, Construction, Senior Housing, Washington

Last week, Northaven Senior Housing hosted a ground breaking ceremony for the new Northaven Three project, a partnership between Northaven and HumanGood. The $24.8 million project includes 82 units of affordable housing for low-income seniors in a campus setting with adjacent dining, health and social services. The 82 units is a mix of studios and 1-bedroom apartments that includes 20 units for seniors earning up to 30% AMI, 42 units for seniors earing up to 50% AMI, and 20 units for seniors earning up to 60% AMI. The project secured a HUD 202 award in 2019 as one of only 14 projects awarded nationally. The project will be located near the Northgate mall and less than a mile from the Northgate transit center and future light rail.

Northaven Senior Housing Executive Director Darlene Storti, Director of Development Bill Dorn, and Washington State Senator David Frockt were among the speakers who shared their gratitude for the project. Northaven Three is a partnership between Northaven Senior Housing and HumanGood Affordable Housing based on their aligned missions to provide high quality communities for seniors. The anticipated completion date is early 2022.

Executive Director of Northaven Senior Living Darlene Storti, Managing Principal & Owner of VIA Architecture Wolf Saar, Capital Investments Manager for the Office of Housing Laurie Olson, VP of Beacon Development Group Brian Lloyd, Washington State Senator David Frockt

Financing closes on $170M on Two California Projects to Renovate 200 Units

Posted by beacon on Fri, Aug 21, 2020 at 5:57 PM

Acquisition/Rehab, Awards & Recognition, Beacon, California, Construction, Family Housing, Historic Buildings, Occupied Rehabs, Senior Housing

Starting in Northern California and in partnership with Third Baptist Church, Beacon Development Group and HumanGood Affordable Housing successfully closed on a $100M low income housing tax credit financing for the renovation of 104 units at Frederick Douglas Haynes Gardens Apartments. This redevelopment will improve the quality of living for the residents and preserves the community’s affordability for years to come. Frederick Douglas Haynes serves low-income families in the heart of San Francisco’s Filmore district.

Rendering of Community Room at Frederick Douglas Haynes by Paulett Tagartt Architects.

The Third Baptist Church of San Francisco was founded in 1852 and has been a staple in the San Francisco community for 168 years. As the first African American congregation west of the Rockies, Third Baptist Church has continuously worked with their community to address the rapidly growing need for affordable housing and equity. The preservation of the Frederick Douglas Haynes Gardens Apartments was critical for the large families and communities of color that have been disproportionately displaced in a quickly gentrify urban core of San Francisco.

In Southern California, Beacon Development Group and HumanGood Affordable Housing closed on $70 million in total financing to preserve and rehab 96 units of senior housing at Castle Argyle Apartments. This project will have major upgrades of all systems and a complete seismic retro-fit.

Originally constructed in the 1920s as an apartment-hotel serving the silent film industry, it housed movie stars such as Clark Gable, Howard Hughes, Ronald Reagan and Cecil B. DeMille. The design intent of this renovation is reveal the building’s classic character and re-introduce its orgins of the Golden Era. Along with rehabbing all units and addition of service spaces, the restoration of the grand lobby and office space will bring the building back to its classic Hollywood style.

These accomplishments in the middle of a pandemic and social unrest are a testament to our team’s professionalism, commitment, and love of the mission.

Rotary Terrace Senior Housing receives Senior Housing News Architecture & Design Awards

Posted by beacon on Fri, Jan 3, 2020 at 11:18 PM

Awards & Recognition, Beacon, California, Senior Housing

Rotary Terrace located in South San Francisco. Photo by Abraham & Paulin Photography.

Rotary Terrace Senior Housing located in South San Francisco, CA. Photo by Abraham & Paulin Photography.

Beacon Development Group is excited to announce that Senior Housing News (SHN) awarded Rotary Terrace Senior Housing as the first-place winner of the sixth Annual SHN Architecture & Design Awards for affordable housing communities.

SHN established the Architecture & Design Awards in 2013 as a way to recognize and celebrate companies utilizing cutting-edge design and innovation to improve the lives of seniors.

Rotary Terrace was among more than 100 communities worldwide vying for the top honors across nine categories which included affordable housing, assisted living, continuing care retirement community (CCRC), hospice, independent living, international, renovation/repositioning, skilled nursing/post-acute care and standalone memory care.

“Winning the SHN design award is a great honor for HumanGood. It reflects our larger organizational commitment to inspire seniors to live their best lives possible regardless of their economic status,” says Cindy Proctor, vice president at Beacon Development Group (BDG), a subsidiary of HumanGood.

Opened in January 2019, this 81-unit senior housing community was developed in partnership with HumanGood Affordable Housing (HGAH) and the South San Francisco Rotary Club. BDG worked closely with HKIT Architects and J.E. Roberts-Obayashi as the General Contractor to create an innovative design.

The design features of this community include comfortable spaces, two-rooftop terraces, a second-floor open-air courtyard and lounge areas. It also has sustainable design features including a solar power system, high-efficiency LED fixtures with sensor controls, EnergyStar appliances and dual-pane energy efficient windows. A fitness center, library and high-speed internet are among the community’s many amenities; and it also houses ground-level office space for the Rotary Club that doubles as a public community space.

Located a quarter mile from a Caltrain station in South San Francisco, CA, this five-story building is a great addition to the city’s downtown redevelopment subarea.

Filipino Community Village Ground Breaking Ceremony

Posted by beacon on Mon, Oct 21, 2019 at 5:10 PM

Beacon, Construction, Senior Housing, Washington

On September 18, Beacon joined Filipino Community of Seattle, HumanGood Affordable Housing, elected officials including Mayor Durkan and more than 200 local community members and donors to celebrate the ground breaking of Filipino Community Village. The new community, totaling just over $36 million in development, will offer a unique model combining culturally-specific social services and 95 affordable apartment homes for low-income seniors. A segment of the apartments will be set aside for people with disabilities. The building will also house the Innovation Learning Center for the local youth. The learning center will offer computer courses, a robotics program and a science-technology-engineering-arts-math (STEAM) program.

“The Filipino Community Village is made possible by the decades-long efforts of the Filipino Community of Seattle, and our very own Beacon Development Group and HumanGood. This milestone brings us ever closer to making this dream a reality for the low-income seniors of Seattle for many years to come. As the Seattle market continues to price out countless low-income seniors, we are proud to welcome what will soon be HumanGood’s 96th affordable housing community,” said Ancel Romero, president of HumanGood Affordable Housing.

The project is funded through support from the City of Seattle, the State of Washington, King County, Umpqua Bank and Hudson Housing Capital. The project team includes Beacon Development Group, Rolluda Architects and Marpac Construction. HumanGood Affordable Housing will manage the new community upon it’s completion in March 2021.

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