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Tag: affordable housing

  • People aging out of foster care get help thanks to new law

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    ST PETERSBURG, Fla. — “Yes, in God’s backyard.” That was the push for a bill that recently went into effect this summer.

    It allows churches to use their property to develop affordable housing, regardless of zoning restrictions.

    A local nonprofit is using that model to tackle the issue of homelessness and affordable housing for young people aging out of foster care.


    What You Need To Know

    • Nonprofit organization Spring Zone St. Pete is using the Yes in God’s Backyard house bill as the model to tackle the issue of homelessness and affordable housing for young people aging out of foster care
    •  

    • They will be providing housing on the land of Mt. Zion Primitive Baptist in St. Pete
    • The project is expected to be completed within the next two years and some of the people who will live in the units will also get a chance to help with the building and construction process
    • RELATED: ‘Yes, In God’s Backyard’ bill part of proposed affordable housing solution


    Graduation, homemade desserts and a culinary career in the making are what 20-year-old Lexi Allison does have. But it’s what she’s had to face after aging out of foster care that’s always top of mind.

    “Homelessness, unemployment, a mental battle, jail. Like I know a lot of people just struggling and constantly going to jail. That’s another thing that not having somewhere stable can cause,” Allison said. “One thing I realized when I didn’t have nowhere to go it was either hard to keep a job, it’s hard to think about your next step when you’re not even in the place you want to be, or be in a place you want to live in or feel comfortable at.”

    That’s the kind of information Christopher Warren with the nonprofit, Spring Zone St. Pete, said they took into account when they came up with a plan to help solve the housing issue for young people.

    “The Yes in God’s Backyard house bill that passed has been a tremendous blessing in this effort. The ability for us to be able to provide housing, but provide housing on church property, is amazing. It’s essential to success because what we need is community,” Warren said. “When it’s fully developed, we’ve got ten units with two young people in each unit. They each have their own room, which was something I wanted to make sure they had, because in the foster system they can be three, four, five — sometimes six to a room.”

    He said each unit will be equipped with the comforts of home and a house of worship on the same property.

    Mt. Zion Primitive Baptist Church Senior Pastor G. Gregg Murray said his church is excited about leasing their land for this housing.

    “Here at Mt. Zion, we want to make sure that whatever we do with our land, we be about ministry,” Murray said.

    At Mt. Zion Primitive Baptist in St. Pete, Murray said their focus is on ministry that makes a difference in the lives of their members and members of a community that’s often forgotten.

    “For foster children who have aged out of the program between the ages of 18 to 23, and we know that’s a time they get displaced and somehow, they disappear into the community, they’re no longer getting services,” he said.

    Pastor Murray is also a social worker. And for his wife, Pauline, working with foster children is part of her life’s work.

    “Working with foster children for pretty much all my life and supervisor of a foster care program here in Pinellas County,” Pauline said. “When you get a child that’s aging out of foster care and coming into an independent living program, they need a lot of wrap-around services. They need a lot of love and attention — you’re their parent. And the same thing you would do with your children, you do with those children.”

    A handful of other churches have also signed on to help with the affordable housing crisis hitting this vulnerable population. It’s something Allison says she can only be thankful for.

    “Yeah, that’s all God’s work,” she said.

    The project is expected to be completed within the next two years. Some of those young people who will live in the units will also get a chance to help with the building and construction process.

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    Saundra Weathers

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  • City of St. Petersburg updates community on its “Imagine the Deuces” project

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    ST. PETERSBURG, Fla — The City of St. Petersburg said it’s working to revitalize South St. Petersburg

    That includes what the city is calling “transformative” projects on the city’s 22nd Street South Corridor, also known as “the deuces”.

    Thursday night the city updated the deuces community on the project. 


    What You Need To Know

    • The City of St. Petersburg said it’s working to revitalize South St. Pete.
    • Construction is underway for affordable housing and the Manhattan Casino
    • The St. Petersburg mayor said the development won’t force out the people who live and work there
    • The city hosted a community update on the project Thursday night


    Construction has started on some of the affordable housing projects.

    The mayor reaffirmed that the new development will be affordable for people who live there. 

    And the Manhattan Casino is also undergoing its renovations. 

    The Catalyst on the Deuces has been on 22nd Street South for a couple of years.

    “When we were starting it we were thinking about a speakeasy, and fortunately the community made it what it wanted to make, it organically grew,” said Jeffrey Copeland, Owner of The Catalyst on the Deuces.

    Copeland has lived in the deuces neighborhood his whole life. His restaurant and lounge now employs 54 people, he said they serve 9,000 people a week.

    “This street, the deuces, has not seen that many numbers since probably the 80s,” he said.

    The City of St. Petersburg said it’s revitalizing the area with affordable housing, new parks, and improving the Manhattan Casino event space. Copeland said he feels the city should have asked for his input. 

    “This would be kind of a place that you would come to say, ‘hey listen, you guys getting 9000 people a week, what do you think we should put here? What do you think should go? What’s going to work?’,” he said.

    The city held four workshops this year to get feedback from residents and businesses for the future of the warehouse arts district and the deuces live district.

    “We do extensive community outreach, community conversations reimagining the deuces we’ve been out, talking to everyone. The vast majority of folks want affordability, they want something they can be proud of in their community,” Mayor Welch said.

    Thursday night the city gave an update on the revitalization project. Mayor Welch said the development won’t push out residents. The housing will be available for people who make average or below average salaries. 

    “We kept our word when we said this will be inclusive progress that won’t push out folks that make an average salary,” Welch said.

    While Copeland supports some of the revitalization project, he wants the area to stay true to itself. 

    “We always want better for ourselves, but what we don’t want to do is give up our culture for something that may not stay as long as it should stay,” Copeland said.

    The city said it’s working to preserve the deuces history while investing in the community’s future.

    Officials said they are hoping to have the Manhattan Casino open in July 2026.

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    Tyler O’Neill

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  • Manufactured home park residents fighting for bill of rights in Minnesota

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    Minnesota manufactured home park residents and lawmakers are speaking out against what they say are skyrocketing rents and unsafe living conditions.

    At the Minnesota State Capitol Thursday, they placed the blame on out-of-state private equity firms that have been purchasing these communities in recent years.

    State Sen. Liz Boldon and state Rep. Matt Norris, both Democrats, were authors of companion bills, introduced earlier this year, that would cap annual lot rent increases to 3% and give residents a chance to purchase the lot they live on.

    “I had to go back to work after 30 years of hard work at UPS to afford my lot rent now,” said Gwen Elliott, who lives in a manufactured home park in Blaine.

    Sammi Silver, who lives in a Lake Elmo community, said her rent went up more than 40% in the past five years.

    “When my lot rent goes up, I can’t just leave, it’s not that simple. My home isn’t truly mobile,” Silver said. “It costs thousands of dollars to move, and most parks won’t even take a house over five years old.”

    The lawmakers behind the bill for manufactured home park residents hope it gains some traction after getting stuck in committees last session.

    Over the next several weeks, hundreds of manufactured home park residents will be holding forums with lawmakers in at least 10 districts across the state.

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    Jason Rantala

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  • Video: What’s Andrew Cuomo’s Plan to Help New York City Renters?

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    “Can you describe rent prices in New York?” “High.” “Expensive.” ”Out of control.” ”The rent here is absolutely crazy.” “Very, very unaffordable. Two verys — yeah very, very expensive.” Median asking rent in New York City is up more than 7 percent in just the last year. It’s now about $4,000 per month. That’s made the cost of housing a key issue in the mayor’s race, with the top candidates each proposing changes to a core New York City housing policy: rent stabilization. Nearly half of the apartments in New York are currently rent stabilized, which means that their rent increases are determined by a government agency controlled by the mayor. That makes rent stabilization a hot button issue for hundreds of thousands of voters. After front-runner Zohran Mamdani revealed what he pays in rent — “$2,300 for my one bedroom in Astoria.” — rival Andrew Cuomo argued he was unfairly occupying an affordable apartment and shouldn’t qualify for rent stabilization because he makes $142,000 a year. “Rent-stabilized units, when they’re vacant, should only be rented to people who need affordable housing.” Many rent-stabilized tenants are low income, but about 16 percent of rent-stabilized households do earn at least $150,000 a year. If elected mayor, Cuomo says you could only qualify for a rent-stabilized apartment if your rent is 30 percent or more of your income. Let’s say this couple is looking for an apartment. Their salaries are $35,000 and $45,000 a year. They find a rent-stabilized apartment for $2,000 a month. That’s 30 percent of their income. So under Cuomo’s plan, this couple will face less competition for this lease because anyone who makes more than them could not apply for the the apartment. Means-testing is popular with voters. About 65 percent supported it in a recent Times-Siena poll. But critics argue that Cuomo’s plan reflects a misconception that rent stabilization is an affordable housing program. In fact, it’s a form of market regulation with roots in the postwar era. “After World War II, you had returning G.I.s starting families.” The rent gets too damn high and the government takes a look to say, ‘Is there something we could do about it?’” Some apartments in this period were rent-controlled. The system that eventually effectively froze 1970s rents in place like the famously low-rent apartments from “Friends” and “Sex in the City.” “You have a rent-controlled apartment? I suggest you stay there.” In reality, only about 1 percent of apartments are rent controlled today. Most are now covered by rent stabilization, which first became law in 1969. “It really was this broad-based sense that tenants needed the government to come in and kind of limit that increase in their rent. Rent stabilization was not designed to take into account the income of the tenant at all. Rent regulation was really put into place to say when the vacancy rate is so low, landlords can’t use that as an opportunity to gouge tenants for increases in rents.” Today, rent stabilization applies to most apartments in buildings with at least six units that were built before 1974. That covers about one million units and two million New Yorkers. Rent increases are set by the mayor-appointed Rent Guidelines Board. “So you’re not at the mercy of your landlord solely. They can only go according to the increased percentage rate that the Rent Guidelines Board decides.” Joanne Grell is a tenant advocate in the Bronx. She moved into a rent-stabilized apartment nearly 25 years ago and still lives in it today. “I moved here back in 2002 with a 2-year-old and a 5-year-old, not knowing exactly how I was going to be able to be a single mom and afford to live in the city. Fast forward 23 years later, I raised my children here.” When she moved in, her rent was about $950 a month. She earned a moderate income, but if means-testing had been in place, she wouldn’t have qualified for her unit. “When I moved in here 23 years ago, it might have been 20 percent of my salary. So if Cuomo’s means-testing proposal was in place when I applied for this apartment, I would have never been able to get it.” Now, she does spend more than 30 percent of her income on rent, which has gone up to $1,750 a month. Grell plans to vote for Mamdani this election because she believes his proposal to freeze the rent would help struggling tenants like her and 69 percent of voters in the Times-Siena poll agreed. “My upstairs neighbor said to me, ‘If I get another increase, I will not be able to keep my apartment.’ That’s how serious it is.” David Reiss said that Mamdani’s rent freeze would help tenants in the short term, while Cuomo’s means-testing would be an administrative nightmare that could make life difficult for many. Ultimately though, he said neither of these policies address the root cause of high prices: that there aren’t enough apartments to go around. Both mayoral candidates have said they support building hundreds of thousands of units to help address the housing shortage. “We need more housing, a lot more.” “Get the supply up. The rents will come down.” But Reiss says neither candidate’s plans would meet the demand and don’t account for factors like population growth or apartments being demolished. “Politicians from President Trump to Andrew Cuomo to Zohran Mamdani, have all proposed policies to address housing affordability. But it can’t just be doing what we’re doing now, but a little bit better. Fundamentally, if you want to increase affordability, you have to build more housing.”

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    Jeremy Raff and Mark Boyer

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  • TD Charitable Foundation offers $10M in housing grants | Long Island Business News

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    organizations can now apply to receive some of the $10 million in grants offered by the TD Charitable Foundation through its Housing for Everyone initiative. 

    The foundation, which is the charitable arm of TD Bank, is marking its 20th annual Housing for Everyone program by offering the most money in the program’s history. 

    This year, the program focuses on eviction prevention and early intervention strategies to promote long-term housing stability for renters in low- to moderate-income communities, according to a foundation statement. Grants of $250,000 each will be awarded to nonprofits that provide solutions intended to prevent eviction before a crisis occurs. 

    “Housing remains a critical issue across our footprint and beyond, and a key step to mitigating the issue is providing early intervention tools and education to those most vulnerable,” Paige Carlson-Heim, head of at TD Bank, said in the statement. “As we mark 20 years of the Housing for Everyone grant program, we recognize that lasting change in housing stability requires an ongoing commitment, and we are proud to support the organizations driving change through education, legal support, and more.” 

    Since 2005, Housing for Everyone has provided more than $63 million to over 630 initiatives. While median household income hasn’t grown much in that 20-year period, the foundation said home prices and rents have risen substantially, widening the housing affordability gap. The goal of the Housing for Everyone grants is to assist nonprofits across the TD Bank footprint that support communities with the preservation and development of affordable housing options. 

    Past Long Island grant winners include Patchogue-based Economic Opportunity Council of Suffolk, which was awarded a $175,000 Housing for Everyone grant in 2024 and Ronkonkoma-based Options for Community Living, which earned a $150,000 grant in 2023. 

    Since its inception in 2002, the TD Charitable Foundation has distributed over $361 million through donations to local nonprofits from Maine to Florida. 

    Additional details and access to the 2026 Housing for Everyone grant competition can be found at td.com/housingforeveryone. Applications are open until 4 p.m. on Nov. 25. Grantees will be announced in April 2026. 


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    David Winzelberg

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  • Bike, pedestrian improvements celebrated at North Berkeley BART Station

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    BERKELEY — Significant bicycle and pedestrian improvements have been completed at the North Berkeley BART Station, paving the way for better connections for hundreds of future neighborhood residents.

    Berkeley councilmembers, electeds from neighboring cities, city staff and community members gathered Monday to celebrate the completion of the North Berkeley Bicycle and Pedestrian Access Project.

    As part of the project, a section of the Ohlone Greenway, a 5.3-mile bike and pedestrian path, was widened between Acton and Virginia streets. Also added were separate two-way cycle tracks leading to BART entrances from Acton and Sacramento streets and two new bike lockers in the plaza, among other improvements.

    The project was funded partly by the transportation agency’s Safe Routes to BART grant program which is supported by BART Measure RR funds, a tax measure approved by voters in 2016. An additional $3.4 million in grants were awarded to the project through the state’s Affordable Housing and Sustainable Communities program.

    “As Senator, I am proud that the state supports sustainable transportation projects,” State Sen. Jesse Arreguín, D-Oakland, said in a statement. Arreguín also noted his support for similar projects when he served as Berkeley mayor.

    About 61% of all trips made to the North Berkeley BART Station are done by walking or biking, according to the agency’s 2015 Station Profile Study. The improvements are meant to support those already walking and biking to the station while making those modes of transportation more appealing to others.

    BART Director Barnali Ghosh said he’s “thrilled” to see the project complete.

    “These improvements make it safer and easier for people to walk, bike, and connect to BART. Delivering these community benefits years before the first North Berkeley TOD building opens reflects BART’s strong and lasting commitment to North Berkeley,” Ghosh said in a statement.

    The project is part of a larger overhaul of the North Berkeley BART Station property. Working with the city and a team of housing developers, the transportation agency plans to welcome nearly 750 new homes on about 5.5 acres of land currently being used for station parking.

    North Berkeley Housing Partners, the development team, is made up of three affordable housing nonprofits – BRIDGE Housing, East Bay Asian Local Development Corporation and Insight Housing – and one market-rate housing developer, AvalonBay Communities.

    The new homes will be spread across five buildings that will be developed in phases. Construction was expected to begin in either 2025 or 2026. Half of the new units will be listed as affordable to people making up to 80% of the area median income. That’s about $127,000 annually for a family of four living in Alameda County, according to the state’s 2025 income limits.

    Bound by Delaware, Sacramento, Virginia and Acton streets, the project site will also feature about 60,000 square feet of open space, a diagonal connection to the Ohlone Greenway that cuts through the center of the site and ground floor retail and childcare.

    “The North Berkeley access improvements are just the beginning,” Mayor Adena Ishii said in a statement. “With more than 700 homes approved at North Berkeley BART and a similar number planned at Ashby, we’re showing that Berkeley can build more housing while making it easier for everyone to move safely and sustainably through our community.”

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    Sierra Lopez

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  • L.A. to landlords: Use official forms when filing evictions

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    The Los Angeles City Council voted Tuesday to formally codify an existing rule requiring landlords to file eviction notices with the city, a procedural step that aims to improve enforcement of tenant protections and spot patterns of evictions.

    Under the newly adopted ordinance, landlords must submit a copy of any written notice ending tenancy to the Los Angeles Housing Department (LAHD) within three business days of serving the tenant. The amendment, originally drafted by the City Attorney’s Office in April, specifies that notices must be submitted either electronically or using a form approved by the LAHD and the City Attorney.

    City officials and housing advocates say the rule is part of a broader push to increase transparency around evictions and ensure renters aren’t being forced out of their homes illegally.

    In a statement, Sharon Sandow, director of communications for the city’s Housing Department, said the amendment requires landlords who don’t file eviction notices online to instead mail the notice along with an LAHD Eviction Filing Cover Sheet.

    “This ensures that LAHD receives all necessary tenant information directly from the landlord,” she said. “Tenant information is essential for providing tenants with valuable renter protection and referrals to appropriate legal services, thereby safeguarding tenant rights.”

    Larry Gross, executive director of the Coalition for Economic Survival, a longtime tenants’ rights nonprofit, praised the move, saying it strengthens tenant protections and enables groups like his to help tenants fight unlawful evictions.

    “Tenants are in some cases unaware that they’re being evicted, until they get the notice to appear in court,” Gross said. “So landlords play a lot of games with these notices and this will hold them accountable.”

    He also connected the ordinance to broader tenant protection infrastructure, like the city’s Right to Counsel Program, which provides eligible tenants with free legal representation.

    “ It goes hand in hand with the city’s commitment to funding Right to Counsel,” Gross said, “to ensure that tenants, particularly low-income tenants, are represented with legal representation when they have to fight an eviction in courts.”

    But landlord groups criticized the move as overly burdensome. Daniel M. Yukelson, executive director and CEO of Apartment Association of Greater Los Angeles, said the measure adds yet another layer of bureaucracy for landlords already grappling with complex rules.

    “The city is doing everything in its power to make it more difficult for property owners to collect legally owed rent or deal with problems that tenants are causing, whether they be conducting criminal activity, destroying property, creating a nuisance,” he said.

    Yukelson said that under the city’s eviction-filing rules, even small technical errors, such as forgetting to list the number of bedrooms, or failing to submit the required forms within three business days, can allow a tenant to raise an affirmative defense in court. That means a judge could delay or dismiss the case, forcing landlords to start the eviction process from the beginning.

    “ Believe me, evictions are a last resort in any situation,” he said. “They’re very costly and time-consuming and nerve-wracking for property owners to go through, so nobody wants to do it. And the city is just creating even more burdens on property owners through this latest action. It is basically death by a thousand cuts.”

    The item passed Tuesday without discussion. The updated ordinance amends sections 151.09 and 165.05 of the Los Angeles Municipal Code to clarify how landlords must comply with the city’s eviction filing rules, which was enacted in January 2023 as part of a broader package of pandemic-era tenant protections.

    This rule applies to all written notices terminating a tenancy for at-fault reasons, including those for nonpayment of rent, lease violations, nuisance complaints or other tenant misconduct under the city’s Rent Stabilization and Just Cause ordinances.

    Notices for no-fault evictions — such as owner move-ins or demolition — must be filed separately through a Declaration of Intent to Evict, which includes an application fee and paid relocation assistance to the tenant.

    The LAHD maintains a searchable database of notices filed under the ordinance, which tenants can use to check whether their landlord has complied. If a landlord fails to file the notice properly or on time, tenants may be able to raise an “affirmative defense” in court — a factor that can delay or even derail the eviction process.

    In a July 2023 report, LAHD noted that while it had received roughly 40,000 eviction notices since the rule took effect, many were submitted on paper, creating backlogs and straining staff capacity. To streamline the process and bolster enforcement, the department recommended a technical amendment requiring landlords to either upload notices electronically or submit them on a standardized form approved by LAHD. Tuesday’s vote codified that recommendation.

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    Teresa Liu

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  • Q&A with Peabody’s Ward 6 candidates

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    PEABODY — Incumbent Ward 6 Councilor Michael Higgins will face off against Ryan Cox on Nov. 4 in a rematch of Peabody’s 2023 general election, when Higgins was elected to his first term on the City Council.

    The Salem News asked each of these candidates to submit written answers to the following questions. Responses have been edited for grammar and clarity.


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    kAmk6>mr@?E24E r2C@=:?6 t?@D 2Ek^6>m k6>mk2 9C67lQ>2:=E@irt?@Do?@CE9@73@DE@?]4@>Qmrt?@Do?@CE9@73@DE@?]4@>k^2mk^6>m k6>m]k^6>mk^Am

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    By Caroline Enos | Staff Writer

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  • Heatherwood seeks $160M from town in new federal lawsuit | Long Island Business News

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    THE BLUEPRINT:

    • Heatherwood wins state court ruling on Hempstead zoning repeal
    • Developer files federal lawsuit seeking over $160M in damages
    • Town enacted and later rescinded near LIRR stations
    • Builders warn zoning reversal threatens future development

     

    After earning favorable rulings in State Supreme Court lawsuits it filed against the for killing its planned , is doubling down with a new federal lawsuit seeking more than $160 million in damages. 

    The new lawsuit is the latest salvo in the years-long battle between the developer and the town over Hempstead’s now-you-see-it, now-you-don’t zoning district that would have allowed Heatherwood to build its planned mixed-use, transit-oriented five-story building on a 5.3-acre site less than 100 feet from the Lawrence Long Island Rail Road station. 

    Street view of the proposed Inwood development site. / Courtesy of Heatherwood

    The Commack-based developer’s $154 million project would have brought 309 rental apartments over about 20,900 square feet of ground floor commercial space to the site on Lawrence Avenue between Wanser Avenue and Bayview Avenue that fit with the  District zoning that Hempstead Town enacted in May 2019 for about 11.7 acres near the station and about 9 acres near the Inwood LIRR station, allowing for the redevelopment of light industrial uses in the area to encourage a “mix of housing and commercial uses” that will “sustain vibrant flourishing hamlet centers,” according to the town’s zoning. The TOD District also required that 20 percent of the housing be priced as affordable, to which the Heatherwood plan conformed. 

    But instead of advancing Heatherwood’s application, the town enacted a building moratorium for the new Inwood and North Lawrence zoning areas in Sept. 2022 and extended it twice, with the town board citing concerns that the requisite environmental review to establish the new zoning districts, and previously accepted by the town, failed to take a “hard look” at potential negative impacts on infrastructure, transportation, public safety and special districts. 

    With its project stalled during the 20-month-long moratorium, Heatherwood took the town to court in Sept. 2024 seeking approval of the plan. Two months later, the town completely rescinded the TOD District zoning, citing a faulty public notification process when the zoning was being changed as the reason for scrapping it, prompting Heatherwood to file a subsequent lawsuit seeking to reverse the repeal of the zoning.   

    In June, State Supreme Court Judge Conrad Singer agreed with Heatherwood, ruling that the town’s repeal of the TOD District zoning is null and void, but while the judge denied the developer’s request to force the town to immediately greenlight the project, it also ordered the town to start processing the project application. 

    In July, the town filed its intent to appeal Singer’s decision that reversed its repeal of the TOD zoning but has yet to actually file that appeal.  

    Last week, Heatherwood filed a federal lawsuit against the Town of Hempstead and the town board seeking damages of more than $160 million in lost revenue from blocking the project. The lawsuit also added 10 unnamed individuals “presently unknown to the plaintiffs,” who “undertook actions and enacted policies to deprive plaintiffs of their constitutional rights.” 

    “The Town of Hempstead, which had passed the original rezoning on its own motion, offered no options and actively blocked any form of our project’s development,” said attorney Daniel Shapiro, partner at Uniondale-based Ruskin Moscou Faltischek, who represents Heatherwood. “We filed this legal action to recover the substantial damages incurred by relying on the town’s approved zoning.” 

    In regard to the new federal lawsuit, a Hempstead spokesman said, “the town cannot comment on pending litigation.” 

    Heatherwood has received strong support from various builders’ groups and others in the real estate development community in its fight with the town. 

    Mike Florio, CEO of the Long Island Builders Institute, said revoking the 2019 transit-oriented development zoning without protecting existing applications undermines trust in local government and discourages responsible investment.  

    “This case has serious implications far beyond a single project,” Florio told LIBN. “And if this precedent is allowed to stand could jeopardize the ability to finance home building not only on Long Island, but across the country.” 

    Mike Fazio, executive director of the New York State Builders Association, agreed that the town’s actions have ramifications well beyond Hempstead. 

    “Land development and building is already a high-risk business because it’s very cyclical,” Fazio said. “You have risks that are out of your control, like interest rates, supply chains, rising costs and tariffs. And then you have a municipality who gives you a green light and then pulls the rug out from under you. That creates uncertainty that will disincentivize investments from lenders and private equity who will be much more hesitant in lending to these types of projects.” 

    Aaron Appel, senior managing director at Walker & Dunlop, who co-leads the publicly traded firm’s institutional advisory practice, confirmed that real estate investment decisions are based on whether zoning and entitlements for a development project are in place. 

    “When a town can then go and change those entitlements or remove those, that creates a very, very dangerous situation,” Appel said. “And not only does it affect the ability for one to make an investment but also can put at risk our financial institutions who provide credit to those types of investments.” 

    Meanwhile, Heatherwood believes there’s still a great need for housing in the area and wants to continue to pursue the Inwood development, while fighting for its right to do so. 

    “As stewards of our industry, we need to stand up and protect the rights that have been taken from us,” Douglas Partrick, Heatherwood principal, told LIBN. “We’ve heard from many of our peers both locally and nationally how important it is that this precedent not stand. As a 75-year-old organization that has been a pioneer in the real estate industry we will be resolute in our focus to get this right for our industry.” 


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    David Winzelberg

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  • Q&A with Peabody’s at-Large candidates

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    PEABODY — The Salem News asked the nine candidates running for five at-Large seats on Nov. 4 to answer the following questions:

    1. What are the top three issues facing Peabody today? If elected, how would you address them?
    2. How would you help keep housing affordable in Peabody?
    3. What approach will you take to this upcoming budget season, which is expected to be especially difficult?
    4. What response should the city take to the lack of trash and recycling service by Republic Services this summer and fall?
    5. How will you best serve Peabody residents and businesses as a councilor?


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    By Caroline Enos | Staff Writer

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  • US developer builds homes for displaced Ukrainians, offering hope despite war and crisis

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    The Russian invasion of Ukraine has displaced millions, scattering families across the country and abroad. For many, heavy fighting in the east means crowded shelters, borrowed beds and fading hope.Related video above: President Trump signals he’s holding back on long-range missiles for UkraineAbout 400 miles west of the front line, however, a privately built settlement near Kyiv offers a rare reprieve: stable housing, personal space and the dignity of a locked door.This is Hansen Village. Its rows of modular homes provide housing for 2,000 people who are mostly displaced from occupied territories. Children ride bikes along paved lanes, passing amenities like a swimming pool, basketball court, health clinic and school.The village is the creation of Dell Loy Hansen, a Utah real estate developer who has spent over $140 million building and repairing homes across Ukraine since 2022.At 72, he’s eager to do more.A new missionHansen’s arrival in Ukraine followed a public reckoning. In 2020, he sold his Major League Soccer team, Real Salt Lake, after reports that he made racist comments. He denied the allegations in an interview with The Associated Press but said the experience ultimately gave him a new mission.“I went through something painful, but it gave me humility,” he said. “That humility led me to Ukraine.”Seeing people lose everything, Hansen said he felt compelled to act. “This isn’t charity to me, it’s responsibility,” he said. “If you can build, then build. Don’t just watch.”Hansen now oversees more than a dozen projects in Ukraine: expanding Hansen Village, providing cash and other assistance to elderly people and families, and supporting a prosthetics clinic.He’s planning a cemetery to honor displaced people, and a not-for-profit affordable housing program designed to be scaled up nationally.Ukraine’s housing crisis is staggering. Nearly one in three citizens have fled their homes, including 4.5 million registered as internally displaced.Around the eastern city of Dnipro, volunteers convert old buildings into shelters as evacuees arrive daily from the war-torn Donbas region. One site — a crumbling Soviet-era dorm — now houses 149 elderly residents, mostly in their seventies and eighties.Funding comes from a patchwork of donations: foreign aid, local charities and individual contributions including cash, volunteer labor or old appliances and boxes of food, all put together to meet urgent needs.“I call it begging: knocking on every door, and explaining why each small thing is necessary,” said Veronika Chumak, who runs the center. “But we keep going. Our mission is to restore people’s sense of life.”Valentina Khusak, 86, was evacuated by charity volunteers from Myrnohrad, a coal-mining town, after Russian shelling cut off water and power. She lost her husband and son before the war.“Maybe we’ll return home, maybe not,” she said. “What matters is that places like this exist — where the old and lonely are treated with warmth and respect.”A nation under strainUkraine’s government is struggling to fund shelters and repairs as its relief budget buckles under relentless missile and drone attacks on infrastructure.By late 2024, 13% of Ukrainian homes were damaged or destroyed, according to a U.N.-led assessment. The cost of national reconstruction is estimated to be $524 billion, nearly triple the country’s annual economic output.Since June, Ukraine has evacuated over 100,000 more people from the east, expanding shelters and transit hubs. New evacuees are handed an emergency government subsidy payment of $260.Yevhen Tuzov, who helped thousands find shelter during the 2022 siege of Mariupol, said many feel forgotten.“Sometimes six strangers must live together in one small room,” Tuzov said. “For elderly people, this is humiliating.“What Hansen is doing is great — to build villages — but why can’t we do that too?”’People here don’t need miracles’Hansen began his work after visiting Ukraine in early 2022. He started by wiring cash aid to families, then used his decades of experience to build modular housing.Mykyta Bogomol, 16, lives in foster care apartments at Hansen Village with seven other children and two dogs. He fled the southern Kherson region after Russian occupation and flooding.“Life here is good,” he said. “During the occupation, it was terrifying. Soldiers forced kids into Russian schools. Here, I finally feel safe.”Hansen visits Ukraine several times a year. From Salt Lake City, he spends hours daily on video calls, tracking war updates, coordinating aid, and lobbying U.S. lawmakers.“I’ve built homes all my life, but nothing has meant more to me than this,” he said. “People here don’t need miracles — just a roof, safety, and someone who doesn’t give up on them.”A fraction of what’s neededLast year, Hansen sold part of his businesses for $14 million — all of it, he said, went to Ukraine.Still, his contribution is a fraction of what’s needed. With entire towns uninhabitable, private aid remains vital but insufficient.Hansen has met with President Volodymyr Zelenskyy, who thanked him for supporting vulnerable communities. Later this year, Hansen will receive one of Ukraine’s highest civilian honors — an award he says is not for himself.“I don’t need recognition,” he said. “If this award makes the elderly and displaced more visible, then it means something. Otherwise, it’s just a medal.” Associated Press journalists Volodymyr Yurchuk in Kyiv, Ukraine, and Vasilisa Stepanenko and Dmytro Zhyhinas in Pavlohrad, Ukraine, contributed to this report.

    The Russian invasion of Ukraine has displaced millions, scattering families across the country and abroad. For many, heavy fighting in the east means crowded shelters, borrowed beds and fading hope.

    Related video above: President Trump signals he’s holding back on long-range missiles for Ukraine

    About 400 miles west of the front line, however, a privately built settlement near Kyiv offers a rare reprieve: stable housing, personal space and the dignity of a locked door.

    This is Hansen Village. Its rows of modular homes provide housing for 2,000 people who are mostly displaced from occupied territories. Children ride bikes along paved lanes, passing amenities like a swimming pool, basketball court, health clinic and school.

    The village is the creation of Dell Loy Hansen, a Utah real estate developer who has spent over $140 million building and repairing homes across Ukraine since 2022.

    At 72, he’s eager to do more.

    A new mission

    Hansen’s arrival in Ukraine followed a public reckoning. In 2020, he sold his Major League Soccer team, Real Salt Lake, after reports that he made racist comments. He denied the allegations in an interview with The Associated Press but said the experience ultimately gave him a new mission.

    “I went through something painful, but it gave me humility,” he said. “That humility led me to Ukraine.”

    Seeing people lose everything, Hansen said he felt compelled to act. “This isn’t charity to me, it’s responsibility,” he said. “If you can build, then build. Don’t just watch.”

    Hansen now oversees more than a dozen projects in Ukraine: expanding Hansen Village, providing cash and other assistance to elderly people and families, and supporting a prosthetics clinic.

    He’s planning a cemetery to honor displaced people, and a not-for-profit affordable housing program designed to be scaled up nationally.

    Ukraine’s housing crisis is staggering. Nearly one in three citizens have fled their homes, including 4.5 million registered as internally displaced.

    Around the eastern city of Dnipro, volunteers convert old buildings into shelters as evacuees arrive daily from the war-torn Donbas region. One site — a crumbling Soviet-era dorm — now houses 149 elderly residents, mostly in their seventies and eighties.

    Funding comes from a patchwork of donations: foreign aid, local charities and individual contributions including cash, volunteer labor or old appliances and boxes of food, all put together to meet urgent needs.

    “I call it begging: knocking on every door, and explaining why each small thing is necessary,” said Veronika Chumak, who runs the center. “But we keep going. Our mission is to restore people’s sense of life.”

    Valentina Khusak, 86, was evacuated by charity volunteers from Myrnohrad, a coal-mining town, after Russian shelling cut off water and power. She lost her husband and son before the war.

    “Maybe we’ll return home, maybe not,” she said. “What matters is that places like this exist — where the old and lonely are treated with warmth and respect.”

    A nation under strain

    Ukraine’s government is struggling to fund shelters and repairs as its relief budget buckles under relentless missile and drone attacks on infrastructure.

    By late 2024, 13% of Ukrainian homes were damaged or destroyed, according to a U.N.-led assessment. The cost of national reconstruction is estimated to be $524 billion, nearly triple the country’s annual economic output.

    Since June, Ukraine has evacuated over 100,000 more people from the east, expanding shelters and transit hubs. New evacuees are handed an emergency government subsidy payment of $260.

    Yevhen Tuzov, who helped thousands find shelter during the 2022 siege of Mariupol, said many feel forgotten.

    “Sometimes six strangers must live together in one small room,” Tuzov said. “For elderly people, this is humiliating.

    “What Hansen is doing is great — to build villages — but why can’t we do that too?”

    ‘People here don’t need miracles’

    Hansen began his work after visiting Ukraine in early 2022. He started by wiring cash aid to families, then used his decades of experience to build modular housing.

    Mykyta Bogomol, 16, lives in foster care apartments at Hansen Village with seven other children and two dogs. He fled the southern Kherson region after Russian occupation and flooding.

    “Life here is good,” he said. “During the occupation, it was terrifying. Soldiers forced kids into Russian schools. Here, I finally feel safe.”

    Hansen visits Ukraine several times a year. From Salt Lake City, he spends hours daily on video calls, tracking war updates, coordinating aid, and lobbying U.S. lawmakers.

    “I’ve built homes all my life, but nothing has meant more to me than this,” he said. “People here don’t need miracles — just a roof, safety, and someone who doesn’t give up on them.”

    A fraction of what’s needed

    Last year, Hansen sold part of his businesses for $14 million — all of it, he said, went to Ukraine.

    Still, his contribution is a fraction of what’s needed. With entire towns uninhabitable, private aid remains vital but insufficient.

    Hansen has met with President Volodymyr Zelenskyy, who thanked him for supporting vulnerable communities. Later this year, Hansen will receive one of Ukraine’s highest civilian honors — an award he says is not for himself.

    “I don’t need recognition,” he said. “If this award makes the elderly and displaced more visible, then it means something. Otherwise, it’s just a medal.”

    Associated Press journalists Volodymyr Yurchuk in Kyiv, Ukraine, and Vasilisa Stepanenko and Dmytro Zhyhinas in Pavlohrad, Ukraine, contributed to this report.

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  • Would Zohran Mamdani’s Rent Freeze Keep Rent-Stabilized Apartments Empty?

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    The previous tenant paid nine hundred and three dollars a month. (A steal!) On the free market, the unit could fetch three thousand, easy. (Lee said he had to call it a “de-facto” two-bed, because legally, a living room has to have windows.) But he estimated that it would cost him a hundred and twenty thousand dollars to make the place livable, and, under the current rent-stabilization laws, the most he could charge would be twelve hundred a month—which he said just about covers the operating cost of the apartment but not the renovations.

    We continued the tour. “I’ll probably get rid of this,” Lee said, waving at the paint around some windows, “because this is all lead.” Given how much lead he was pointing out, I asked Lee if it was safe for us to even be there. “That’s a good question,” he said. “I think it’s O.K. It’s not really chipped off or anything like that.” He peered at a wall. “I don’t know if you have an actual monitor to see if there’s any dust?” he asked. I told him I didn’t. “This is par for the course for Chinatown tenement buildings,” he said. “There are some buildings that have the toilet in the hallway.” I asked him about the children’s scooter on the ground. “I don’t know how that got there,” he said.

    Under current laws, landlords can raise the rent if they make improvements to a vacant apartment, but the amount is capped at fifty thousand dollars, spread out over fifteen years. (Before 2019, a landlord could charge a twenty-per-cent vacancy rise when a tenant moved out, and there was no fifty-thousand-dollar cap.) When I asked Lee why he hadn’t renovated the apartment earlier, he said that it was because of the previous tenant. “You have to put them up—if you take them out to renovate,” he said. But the apartment had now been vacant for three years. Why was it still unrenovated and unrentable? “There’s no incentive economically,” he said. “You lose money.”

    Approximately a million apartments in New York are rent-regulated, and living in one is sort of the dream. The rules are often arcane and not necessarily understood by the people who live in these places. (One renter in Harlem recently discovered, after twenty years of paying market rents, that his apartment was rent-stabilized.)

    There are two kinds of rent-regulated apartments: rent-controlled and rent-stabilized. The popular conception of a rent-regulated apartment—a walkup in Manhattan, somehow still leasing at decades-old prices—is most likely a rent-controlled one. (On “Sex and the City,” Carrie Bradshaw’s fictional one-bedroom is seven hundred and fifty dollars a month and rent-controlled; in “And Just Like That . . .” the new tenant puts in a dividing wall so she can split it with a roommate.) But rent control was phased out in 1971, and now there are only twenty-four thousand rent-controlled apartments in the city. (These units can be passed down to family members, but generally when a rent-controlled tenant moves out, the apartment becomes rent-stabilized or hits the free market.) Meanwhile, there are 996,600 rent-stabilized apartments, whose rents are dictated by the nine-person Rent Guidelines Board. Under de Blasio, rents were frozen three times, and no single-year increase was above 1.5 per cent; under Adams, they rose 3.25 per cent in 2022, three per cent in 2023, 2.75 per cent in 2024, and will rise three per cent again this year.

    Lee’s building has eight apartments that more or less tell the story of rent regulation across the years. One is rent-stabilized but vacant; six are rent-stabilized and occupied; and one, on the second floor, is market rate. That apartment, he told me, used to look like his vacant one—tub in the kitchen, lead in the walls. In 2017, Lee spent more than a hundred thousand dollars to renovate it, which allowed him, under previous laws, to destabilize it. It’s now renting out for thirty-five hundred dollars a month, as a two-bed, to a couple of Wall Street guys who moved from California. (“Very reasonable for Manhattan,” Lee said.) His other rent-stabilized apartments, which are similar in size, go for around a thousand dollars or less. He’s done some minor renovations—“I put the shower, the bathroom, and sink together, nothing dramatic”—but decided to keep them rent-stabilized. Lee opposes Mamdani and the proposed rent freeze, but he said he doesn’t oppose rent-stabilization over all. He was born in New York and grew up in the Two Bridges neighborhood. He told me, “I wanted to keep a lot of the Chinatown tenants, the working families, here.”

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    Naaman Zhou

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  • Making homeownership more affordable

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    CHARLOTTE, N.C. — In recent weeks, mortgage rates have gotten to their lowest level in about a year, according to mortgage finance agency Freddie Mac.

    “I never thought I would be able to afford a home,” Michelle Senghore said, but now she owns a two-bedroom house.


    What You Need To Know

    • Many different federal, state and local programs are available to help first-time homebuyers
    • The nonprofit NACA helps qualified buyers to purchase a home with no downpayment and no closing costs
    • First-time homebuyers can be overwhelmed by the amount of information about the process, says Townebank Mortgage loan officer Stacy Kinsey
    • Even if you have owned a home in the past, you may be considered a first-time buyer if it was more than three years ago, Kinsey says  

    “I love the environment. It’s a quiet community, and it’s a small house. It’s cozy, it’s warm and I feel secure and safe here,” Senghore said.

    She went through a program called NACA. It’s a nonprofit that allows qualified buyers to purchase a home with no downpayment and no closing costs. 

    NACA also has financial counseling, which can help with the homebuying process.

    There’s just so much information thrown at us every day, online, that I think it just becomes overwhelming in that case. If you’ve got a person to help you and guide you, has done this a time or two, that’s the best thing to do,” says Stacy Kinsey, a senior loan officer at Townebank Mortgage.

    Kinsey says there are many different federal, state and local homebuying assistance programs. 

    “A lot of times you can pair those together and kind of layer and take advantage of all of that,” Kinsey said.

    There’s an FHA loan, where buyers pay as little as 3.5% of the purchase price.

    There’s also a program through the North Carolina Housing Finance Agency that provides $15,000 in downpayment assistance for first-time homebuyers.

    “A lot of people assume you’re only a first-time homebuyer once, but the way that we prove that you’re a first-time homebuyer is by collecting the last three years of tax returns to show that there’s mortgage interest,” Kinsey said. “So if you haven’t owned a home in three years, then you’re considered a first time homebuyer.” 

    No matter what program you take advantage of, at the end of the day, Senghore says this help is important.

    “Everybody deserves to be a homeowner, to have a certain level of security. You feel at home in your own house,” Senghore said.

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    Arin Cotel-Altman

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  • Oakland cuts ribbon on affordable housing complex at site of former Wood Street homeless encampment

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    The site of what was once a sprawling homeless encampment in West Oakland has become an affordable housing complex for hundreds of new tenants. 

    The city celebrated the opening of Prescott Station on Wednesday, a building with 235 units, aimed at people earning up to 80% of the area median income.

    For resident Edward Fields, this is the first time an apartment like this has been accessible for him, a new build, and a place to call his own. Just a few years ago, he was experiencing homelessness.

    “I’ve been there, done that,” said Fields.

    Homelessness is a theme in the Wood Street area. Prescott Station, near the corner of Wood and 20th streets, is built on land that used to be home to one of Oakland’s largest homeless encampments. It spanned blocks with hundreds of people.

    Now, it’s been transformed, and the new community is having a positive impact on Field’s life.

    “It’s nicer, it’s safe, it’s secure,” Fields stated. “I basically don’t have to worry about being on the street or anything like that, or worry about where I’m going to lay my head down. I have all my ducks in a row now.”

    The complex has studios, one-bedroom, and two-bedroom apartments. Fields says safe, stable housing has allowed him to have a positive impact on others. He works with unhoused veterans and can relate to them, while being living proof of hope.

    “That’s why I do the work I want to do, because I set up other, so they don’t have to come back to the shelter and back to transitional housing,” Fields explained.

    Mayor Barbara Lee spoke during the grand opening celebration, highlighting the significance of West Oakland in her life.

    “I used to live at 21st and Filbert,” Lee stated. “Raised my kids there for many years.”

    While she’s disappointed about what has happened in recent years in West Oakland, she is optimistic about the turn it’s taking.

    “For too many years, though, this community has faced displacement and disinvestment,” said Lee. “Prescott Station is part of changing that narrative. Preserving our community, honoring history, and creating stability for families that deserve to remain in the neighborhoods that they’ve actually built and sustained for decades. Affordable housing isn’t and shouldn’t be a luxury. It’s a necessity.”

    Fields agrees. He’s only lived in West Oakland since April, but is impressed by Prescott Market, Raimondi Park, and his new home, Prescott Station.

    He’s looking forward to the future and grateful he has a front-row seat to watch it flourish.

    “I want to see Oakland come back to its former glory,” Fields said. “That would be my hope for the future.”

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    Amanda Hari

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  • Amid soaring evictions, Bay Area city gets a state housing grant and a designation that could lead to new solutions

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    Once seen as one of the Bay Area’s last affordable cities, San Leandro now faces one of the highest rates of eviction notices per capita as officials grapple with the end of pandemic-era renter protections.

    But the city received a lifeline this week with a $1 million state housing grant and pro-housing designation, which city officials said they will leverage to develop more affordable housing as part of the city’s full court press to keep residents in their homes.

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    Chase Hunter

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  • Grand opening of Hughes House marks a milestone in Stop Six revitalization

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    Hughes House features apartment units and multiple common areas, including a playground, meeting room, and computer room, which are available for use by both residents and community members.

    Hughes House features apartment units and multiple common areas, including a playground, meeting room, and computer room, which are available for use by both residents and community members.

    A yearslong effort to revitalize the Stop Six neighborhood of southeast Fort Worth hit a milestone Tuesday with the grand opening of the newest phase of Hughes House, an apartment community with affordable and market-rate units.

    The complex at 4830 E. Rosedale St. is named after legendary basketball coach Robert Hughes Sr.

    The multi-phase project secured tens of millions in federal funding in 2020. Developer McCormack Baron Salazar and Fort Worth Housing Solutions, the city’s public housing authority, broke ground on the project’s first units in September 2021 and welcomed its first residents in fall 2023.

    In all, Hughes House has roughly 1,000 units, more than tripling the number of residences offered by its predecessor, Cavile Place.

    Hughes House resident Erika Marshall spoke to the audience about how much the new development has meant to her and her daughters, and the importance of having a nice and safe environment.
    Hughes House resident Erika Marshall spoke to the audience about how much the new development has meant to her and her daughters, and the importance of having a nice and safe environment. Fousia Abdullahi, Fabdullahi@star-telegram.com

    The housing is a central part of the Stop Six Choice Neighborhood initiative to create a walkable community hub for recreation, educational, health and safety services, as well as commercial space.

    Carlos Walker, a commissioner of Fort Worth Housing Solutions, said Hughes House represents a shared commitment to the Stop Six community.

    “We continue to build on an inclusive and vibrant community where people of all backgrounds can feel welcome,” Walker said. “Providing quality and affordable housing that stands at the foundation of stability and opportunity, supporting youth development, education, and mentorships, just as Coach Hughes did in his career.”

    The late coach’s daughter, Robin Hughes, said her father’s work not only impacted his team but the community as a whole.

    “Thank you for the time and the effort that you all have so graciously put forth in building the Hughes House for families in general, but more specifically in Stop Six, and for Stop Six,” Hughes said. “It is so important that we give back in some way, and this is certainly a big way to give back.”

    Fort Worth Mayor Mattie Parker pointed to more projects coming to the community, including the redevelopment of the Martin Luther King Jr. Community Center.

    “We can’t rest on our laurels, we can’t feel like, OK, job done, move on,” Parker said. “The city is not letting up on the gas anytime soon.”

    Erika Marshall, a Hughes House resident, said she is happy to be living in Fort Worth close to her children’s support system.

    “It’s more than a roof over our heads,” Marshall said. “It’s a second chance and a new beginning for all of us.”

    The celebration Tuesday also included the CVS Workforce Innovation and Talent Center at 5021 Avenue G, in collaboration with Fort Worth Housing Solutions.

    The Workforce Innovation and Talent Center features a CVS pharmacy classroom that replicates the functions of a real CVS pharmacy, training students to work in pharmacy settings after graduation.
    The Workforce Innovation and Talent Center features a CVS pharmacy classroom that replicates the functions of a real CVS pharmacy, training students to work in pharmacy settings after graduation. Fousia Abdullahi, Fabdullahi@star-telegram.com

    Greg Schmidt, lead director at CVS Health, said the goal of the program is to get young people to explore the options available to them in healthcare. The Workforce Innovation and Talent Center will partner with Aetna to provide access to health education, assistance navigating benefits and screenings.

    Students of the program learn in classroom settings as well as a CVS pharmacy simulation that teaches everything from how to run a cash register to medicine stocking, warnings and side effects.

    Two students at the event spoke about the changes in their life after taking the classes at the Talent Center, including making them aware of how different medications work and giving them the tools they need to continue their education and career.

    “Some will be given an education, some are going to be looking for careers,” Schmidt said. “After they come through our center, they move into experiences in our store location, so they get hands on experience that they can use on their resume.”

    Schmidt said the program is only one piece of a puzzle and it takes partnerships in health, housing programs, and other resources to strengthen the community.

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    Fousia Abdullahi

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  • Foreclosures are surging as U.S. homeowners grapple with rising costs

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    Kimberly Draxler was in shock when she called her mortgage lender in April and was told her four-bedroom home in Hillview, Kentucky, would be sold out from under her in a matter of days. 

    Though she had been alerted that something might be wrong by a letter in the mail from an attorney offering assistance in warding off foreclosure, she said her lender never informed her that she was about to lose her home. 

    “They never called me and told me they were just going to rip my house right underneath me,” Draxler told CBS News. 

    Draxler’s lender said it notifies all borrowers of a possible foreclosure by mail and by phone throughout the process, in compliance with federal debt collection rules. 

    Before learning that her home was entering foreclosure, Draxler, who is 57 and on disability, said she stayed afloat financially by relying on her son, who contributed $600 a month to help take care of household expenses. But after he moved out in 2024, her bills began to pile up, she told CBS News. Draxler soon fell behind on her mortgage.

    The financial pressures bearing down on Draxler highlight the struggles of homeowners still grappling with the rising cost of everything from housing and groceries to energy bills and insurance coverage. With many households stretched thin, unexpected events such as job loss, unplanned medical expense or even simple car problems can cause people to fall behind on their mortgages.

    “I just couldn’t do it anymore”

    Although foreclosures — which include default notices, scheduled auctions or bank repossessions — remain well below their pre-pandemic levels, they are on the rise.

    As of August, foreclosure filings had risen six straights months year-over-year and were up 18% from the same period in 2025, according to property data firm ATTOM. Through June, roughly 188,000 properties had foreclosure filings, putting the U.S. on track to surpass the roughly 322,000 U.S. properties that went into foreclosure in 2024.

    “Paying for the house, the car, the necessity bills — I just couldn’t do it anymore,” said Draxler, who had come close to losing her home in foreclosure on three previous occasions over the last decade. 

    Roughly 94% of mortgage defaults occur after a homeowner loses income to extenuating circumstances, according to The Urban Institute, citing data from the National Bureau of Economic Research.

    Rising homeownership costs

    A key factor behind the rise in foreclosure rates is the growing cost home insurance, utilities, property taxes, repairs and other homeownership expenses. For example, single-family homeowners with a mortgage today pay an average of $2,370 a year for property coverage — up nearly 70% from five years ago, according to data from ICE Mortgage Technology. 

    In addition to rising homeowners insurance costs, many households are also contending with exorbitant property taxes as well as elevated interest rates. 

    “All of these rising costs associated with holding a home, you have increasing pressure on existing homeowners to continue to be able to afford and pay for their mortgages,” Geoff Smith, executive director of the Institute for Housing Studies at DePaul University, told CBS News.

    Todd Teta, chief product and technology officer at ATTOM, also cited the recent slowdown in hiring as a factor behind rising mortgage delinquencies, noting that job loss often drives foreclosures.

    A high interest rate environment can be particularly challenging for homeowners with variable-rate loans, which reset at certain intervals in part based on market conditions. That means a homeowner might see a major jump in their monthly mortgage payment if their reset occurs when interest rates are elevated. 

    A narrow escape

    More such loans are now hitting their reset periods, Teta noted, a trend he expects to continue. “While there has been a small dip in interest rates, they remain significantly higher than just a few years ago, so borrowers with upcoming resets are still likely to see sizable payment increases.”

    As for Draxler, she managed to keep her home by filing for Chapter 13 bankruptcy, which allows debtors to hold onto their property and pay off debt over time, usually within three to five years. But coming so close to losing her home of more than 30 years continues to weigh on her.

    “I did not want to lose my house,” Draxler said. “I wouldn’t have no place to go.”

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  • Cornerstone Kings Park breaking ground near LIRR station | Long Island Business News

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    THE BLUEPRINT:

    • $22.5M boutique apartment project breaks ground in

    • 46-unit development includes affordable workforce housing

    • Located near Kings Park station

    Elected officials and local business leaders will join development executives Tuesday at a groundbreaking ceremony for a new boutique apartment project in Kings Park. 

    Site work has already begun on the $22.5 million transit-oriented project that will bring a three-story, 59,715-square-foot building to the western side of the Tanzi Plaza shopping center at 30 Indian Head Road. The site was formerly occupied by a freestanding Sombrero’s Southwest Grill restaurant. 

    The 46-unit development, called , is a partnership between  Properties and Tanzi Properties. Located just steps away from the Kings Park Long Island Rail Road station, it will consist of a mix of five studios, 32 one-bedroom and nine two-bedroom units. Five of the apartments will be offered at reduced rents and designated affordable workforce housing. 

    Amenities will include a clubroom, fitness center, virtual entry system, elevator and trash valet service. The project will feature 137 parking spaces, including 29 below-grade spots. Islandia-based GRCH Architecture is designing the development, and its civil engineer is Huntington-based R&M Engineering. Garrett Gray of Melville-based Weber Law Group represented the developers throughout the approvals and IDA application process. 

    The developers received a financial assistance package from the Suffolk County Industrial Development Agency for the project, including a payment-in-lieu-of-taxes agreement. 

    Cornerstone Kings Park is the first new multifamily development in Kings Park in decades, facilitated by the Town of Smithtown’s comprehensive plan for Kings Park’s downtown and the completion of Suffolk County’s expansion of the Kings Park sewer system. The project will create about 90 construction jobs and is expected to be completed in about 18 months, with first occupancies slated for Q1 2027.   

    Terwilliger & Bartone has been a prolific developer of Long Island downtown apartment projects in recent years. The company has built multifamily apartment developments in Farmingdale, Hauppauge, Lynbrook and Westbury.  

    LIBN was first to report on the developer’s newest endeavor, a $61 million project that will bring 106 apartments over 4,000 square feet of  space to a 2-acre site on Jerusalem Avenue in Hicksville. Called Cornerstone Hicksville, the four-story building will have a mix of studios, one- and two-bedroom units with underground parking for more than 200 vehicles.  The planned is located a stone’s throw from the Hicksville Long Island Rail Road station. 


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    David Winzelberg

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  • Is it better to rent or own in California? That depends.

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    The debate over renting vs. owning has long posed a challenge for households in California. Arguments have morphed in recent years as home prices and mortgage rates soared beyond the increasing rents. To illustrate the complexities, we’ve created a hypothetical rent vs. buy scenario to track housing finances over a 30-year period. However, the math doesn’t account for the intangibles: the flexibility of renting compared to the stability of owning.

    HOW MONTHLY COSTS COMPARE

    Key in any housing calculation is monthly cost. Our example estimates California house rent today at $4,000 a month vs. buying a $900,000 house with a 10% down mortgage at 6.5% plus property taxes, insurance, association fees, and repairs. The scenario assumes costs grow with historical inflation and the mortgage rate is lowered twice by a half-point through refinancing.

     

    RUNNING THE TAB

    Homeowners need to repay their mortgage plus cover a range of additional costs. So renting’s total costs run cheaper for nearly two decades. But owning ends up costing slightly less over time. Here’s cumulative costs by year, in thousands of dollars.

    THE BOUNTY: Ownership’s edge

    Owning’s true financial benefit arises from the increasing value of the home. Assuming historical gains of 5% per year, the owners gets a $3.8 million asset after 30 years. The renter, who hypothetically invested the $90,000 down payment in the stock market, would accumulate $929,000. Here’s investment value by year, in thousands of dollars.

    WHERE IT GOES

    Look at the slices of 30 years of housing expenditures, rent vs. own. The renter just pays the landlord. Owner costs go to principal and interest on the mortgage, property taxes, home insurance, association fees, and repair and maintenance costs. Note: Interest payments and property taxes can be tax deductible.

    A HISTORY LESSON

    Look at the past 30 years of historical returns for three key factors in this rent vs. buy calculation, using 10-year moving averages for rent (California Consumer Price Indexes); home values (federal California index) and stocks (Standard & Poor’s 500).

    Unfathomable, unaffordable

    California’s long-running and steep affordability crunch makes the rent vs. buy debate a moot argument for many people. Housing costs throttle numerous California family budgets. The state’s flock of high- paying jobs pushes up housing costs well past what more typical paychecks can easily afford. That’s true for households considering renting or buying.

    Stagnant ownership

    Stubbornly high ownership costs have kept California’s share of people living in homes they own relatively stable, except for a temporary surge in the early 2000s when mortgages were too easily obtained. Those risky loans played a key role in the Great Recession, as borrowers defaulted in huge numbers.

    Housing afforability index

    It’s tough to be a California homebuyer. The estimated number of Californians earning the statewide median income who could comfortably purchase a single-family home is falling sharply, according to a California Association of Realtors index. The Golden State share of qualified buyers is significantly below the national norm.

    Housing-cost stresses

    The 2024 edition of Census housing data details how California’s cost of shelter varies between renters and homeowners — with or without mortgages on the property.

    But because renters typically earn less than owners, it’s more likely that their housing costs exceed 50% of their household incomes, an extreme level of financial stress.

    Big housing worries

    A statewide survey last year asked “How often do you worry about the cost of housing for you and your family?” Those who said “every day” or “almost every day” …

     

     

     

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    Jeff Goertzen1, Jonathan Lansner

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  • Freedom Plaza NYC Casino Commits 1K Affordable Housing Units

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    Posted on: September 21, 2025, 11:19h. 

    Last updated on: September 21, 2025, 11:19h.

    • Freedom Plaza is pledging over 1K affordable housing units
    • The casino bid is targeting Manhattan’s Midtown East
    • The $11B project is from Soloviev Group and Mohegan

    Freedom Plaza, a more than $11 billion bid for one of New York’s downstate casino licenses, has amended its proposal to include significantly more affordable housing units.

    Freedom Plaza New York City casino
    A rendering of Freedom Plaza, the two skyscrapers and development just to the left of the United Nations Headquarters, is pictured looking south from across the East River in New York City. Freedom Plaza is committed to bringing over 1K affordable housing units to Manhattan in exchange for a casino license. (Image: Freedom Plaza)

    Ahead of tomorrow morning’s Community Advisor Committee (CAC) vote on the casino resort targeting Manhattan’s Midtown East, Soloviev Group and Mohegan are upping their ante on rent-controlled housing that the complex would bring to New York City.

    Freedom Plaza has pledged to construct 1,080 residential units on-site at the casino to be built on five acres of undeveloped land at 38th and 41st Streets between FDR Drive and 1st Ave. Freedom Plaza initially said at least 500 would be made “permanently affordable.” The bid was later amended to include at least 600 affordable units.

    Now, just hours before the six-person CAC will decide if Freedom Plaza moves to the New York Gaming Facility Location Board (GFLB), Freedom Plaza says all 1,080 residential properties will be rent-controlled under the city’s Mandatory Inclusionary Housing program.

    We are prepared to answer the call from elected officials that New York City is in desperate need of affordable housing. The heartfelt testimony of neighbors —  particularly young people — and the thoughtful input of community and civic leaders reinforces this decision,” said Michael Hershman, CEO of Soloviev Group. “Soloviev and Mohegan believe a gaming license is a privilege and an opportunity to leverage its full economic power to deliver social, civic, and community benefits that would not otherwise be possible.”

    “Housing is the foundation of stability, and this commitment represents our unwavering investment in New York’s future,” Mohegan CEO Ray Pineault added.

    CAC Vote

    After three meetings reviewing Freedom Plaza’s development details and fielding community input, the Community Advisory Committee will vote tomorrow on moving the scheme forward at 10 am local time.

    If a three-fifths majority, or four, votes in favor of the development, the project will be the first casino bid to be accepted by the GFLB. The GLCB will award the three casino licenses by Dec. 1. The state panel can only consider bids that garner CAC support.

    Freedom Plaza’s odds have presumably improved over the past week after CAC votes went against Caesars Palace Times Square and The Avenir near the Javits Center. Those votes left Freedom Center as the last casino bid standing for Manhattan. 

    Freedom Plaza Details

    Freedom Plaza would include two luxury hotels with 1,251 rooms. The resort plan features over 30 food and beverage options, 55,745 square feet of convention and entertainment space, almost 31,000 square feet of retail shopping, a daycare facility, and 4.77 acres of public park space integrated throughout the property through urban landscaping.

    Freedom Plaza has not detailed how many slot machines and table games it would house, saying only that the casino floor would span nearly 300,000 square feet. That would make it among the largest casinos in the US.

    Freedom Plaza estimates it would create 25,875 construction jobs and 13,403 permanent positions once operational. Soloviev and Mohegan have pledged to provide union jobs for both construction and operation. 

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    Devin O’Connor

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