The $15.8 million rehab and conversion of the former elementary school into 50 apartments is the last of a trio of projects by the Richmond Redevelopment & Housing Authority and Enterprise Community Development to provide replacement housing for residents of the towers, which RRHA is looking to redevelop as mixed-income housing.

The event celebrated the completion of 50 new, modern apartment homes for seniors as well as the end of a three-phase redevelopment project to rehouse 200 elderly residents of the aging Fay Towers, built in 1976.

Baker Senior Apartments has 50 new, modern apartment homes for senior citizens. The apartments were part of a three-phase redevelopment project that re-housed 200 elderly residents from the Fay Towers, which were built in 1976.

Enterprise Community Development was one of a select number of developers to be awarded grants from HUD to support its development of new affordable multi-family rental housing in the country.

20 groups have come together calling on the GSEs to improve their proposals that they say fail to meet the needs of the target demographics.

A group of affordable housing organizations has called on the Federal Housing Finance Agency (FHFA) to compel government-sponsored enterprises Fannie Mae and Freddie Mac to improve their “Duty to Serve” (DTS) proposals before approving them.

The New York Times spotlights $25 million initiative for affordable, multifamily rental properties