NORTH SAINT PAUL, MN – The North St. Paul community celebrated the grand opening of the highly anticipated Article No. 7 apartment building, a new residential development that promises to transform the housing landscape in North Saint Paul. Developed by Tareen Development Partners, the building marks a significant milestone in the city’s ongoing efforts to promote high-quality housing options for residents.
The grand opening event attracted local officials, community members, builders, architects, designers, and stakeholders, all keen to witness the unveiling of this state-of-the-art apartment complex. Mayor John Monge and City Council members expressed their enthusiasm and support for the project, highlighting its potential to enhance the community’s vibrancy and livability.
“Article No. 7 represents our commitment to providing modern and comfortable housing solutions for local residents,” said Basir Tareen, Owner of Tareen Development Partners. “We are proud to partner with the city of North Saint Paul to bring this vision to life, and we look forward to its positive impact on the community.”
Bauer Construction was a vital partner in the project, ensuring that the development was completed with the highest quality standards. Momentum Design Group collaborated closely with Tareen Development Partners to design a building that not only meets the needs of future residents but also fits seamlessly into the historic character of North Saint Paul.
The Article No. 7 apartment building features a range of amenities, including spacious living units with high ceilings and modern design, community gathering spaces, and environmentally friendly design elements that promote sustainable living. The complex offers unique “live-work units” along with a variety of floor plans for studio, one-bedroom, and two-bedroom apartments. This development is set to attract a diverse group of residents, contributing to the economic growth in the area.
As North Saint Paul continues to grow and evolve, the Article No. 7 apartment building stands as a beacon of progress. It offers residents a new-era style of living while fostering a sense of community in the historic area just down the street from the well-known Mac’s Diner and next to the local post office.

Powered by WPeMatico

ROXBURY, MA – The NHP Foundation celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF’s commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units.
The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930.
“NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property’s physical and historic integrity and provide newly renovated apartments for existing residents.”
The $112 Million refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations.
Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, “MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to making quality housing for lower-income seniors and families.”
Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank. Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family.

Powered by WPeMatico

NEW YORK, NY – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of a 22-property portfolio comprising 4,768 units across the western United States. With this acquisition, the properties transition to HVPG ownership, seeking to ensure residents benefit from the high standards of living and affordability showed across the firm’s entire portfolio.
The portfolio bought includes properties in four western states thirteen in Washington, seven in Colorado, one in California and one in Idaho – concentrated significantly in the Denver, Seattle, and Spokane metro areas. The properties are subject to low-income housing tax credit (LIHTC) rent restrictions and tenants must be income qualified earning no more than 60% of area median income (AMI).
HVPG plans to make physical improvements and implement the firm’s Community Enhancement Program across the 22 properties. This initiative aims to foster vibrant, responsible and safe communities through site-specific emergency plans, active collaboration with local police departments and enhanced, high-definition monitoring systems providing sitewide coverage.
HVPG’s commitment to preservation extends beyond physical improvements to preserving affordability amidst rising market rates. HVPG has entered partnerships with local Housing Authorities, such as the Washington State Housing Finance Commission and Colorado Housing and Finance Authority, and other nonprofit organizations, such as Hearthstone Housing Foundation and Horizon Housing Alliance, to pursue improvements to safety and quality of life and seek to ensure long-term affordability for residents. HVPG will look to maintain and/or expand resident services programming and amenities at the sites as they’ve done across their existing portfolio.
HVPG bought the portfolio from Inland Group in a joint venture partnership with Wheelock Street Capital, a private real estate investment firm with offices in Greenwich, CT, Boston, and Los Angeles. Wheelock provided the majority of the equity capital out of its Long Term Value Fund. Goldman Sachs served as financial advisor to the seller, and Newmark served as the broker.
“The acquisition of these properties represents a landmark achievement for our firm, expanding our reach to 87 communities with 15,414 units across the Northeast, Midwest, Mid-Atlantic, Southeast and West,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “Our strong relationships with community stakeholders, built on trust and collaboration, along with our deep industry expertise, have been the cornerstone of our efforts to preserve and elevate the nation’s affordable housing stock. We remain focused on our mission to make investments that both improve the performance of the assets and enhance the quality of life for our residents.”
“The acquisition is Wheelock’s second partnership with HVPG and first investment in affordable housing out of the Wheelock Street Long Term Value Fund permanent capital vehicle,” said Jeffrey Laliberte, partner and head of acquisitions for Wheelock Street Capital. “Wheelock’s stable capital will aid in preserving the long-term rental affordability for the residents of the 22 properties.”
HVPG has expanded to the Midwest and now the West, while increasing its footprint in the Mid-Atlantic and Southeast. HVPG’s portfolio spans 12 states, attempting to further the firm’s mission of addressing the nation’s housing shortage by providing affordable, sustainable community assets that residents are proud to call home.

Powered by WPeMatico