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Southside affordable housing development is a go over BeltLine

A mid-rise development offering exclusively affordable housing is set to join a torrent of construction activity along the Atlanta BeltLine’s Southside Trail corridor.
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Victory Commons

M/WBE developer Exact Capital is partnering with the Victory Baptist Church to build 95-units of affordable housing development in the Bronx.
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Black Developer’s Proposed New York City Skyscraper Would Be First Built By Black Americans

Real estate mogul Don Peebles hopes to make history and boost Black entrepreneurship simultaneously with his most ambitious project ever.
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Exact Capital Group receives capital investment from TruFund’s Impact Developers Fund to accelerate growth

TruFund Financial Services (“TruFund”), a community development financial institution located in New York, announced today that it has made an equity investment in Exact Capital
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Development deal to overhaul downtown Bridgeport theaters dead

BRIDGEPORT — When he announced in 2017 that New York City-based Exact Capital would renovate a pair of historic but neglected downtown theaters and an
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Notable Black Leaders And Executives

More than 3,000 New York City housing units have been developed or preserved by Craig Livingston, a managing partner at the real estate development firm
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New Development on the Horizon in Harlem

There have been anecdotes about Harlem being the neighborhood to watch for years, and numbers are emerging to back up these claims. The New York
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East Medinah Village In Permitting to Bring Affordable Housing To Peoplestown

East Medinah Village, an affordable housing-centric development planned in the Peoplestown neighborhood, at 1184 Hank Aaron Drive, is moving forward.
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New affordable housing coming to Morrisania

The New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) recently announced the financing of
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City Teams Up with M/WBE Developers to Create 400 New Affordable Homes

The New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) announced the financing of three
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Exact Capital Rehabs 19 Buildings in the Bronx

Exact Capital, a New York City-based real estate development firm, has renovated and preserved 333 affordable housing units and four retail spaces in 19 buildings
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Bridgeport One Step Closer To Downtown Theater Restoration, New Housing

BRIDGEPORT, Conn. — Mayor Joe Ganim on Monday signed a contract with Exact Capital Group LLC, officially beginning the project to renovate the long-shuttered Majestic
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Villages at Congaree Pointe

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI

This will close in 0 seconds

Villages at Congaree Pointe​

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI.

 

This will close in 0 seconds

 

 

 

NME III

This LIHTC Year 15 portfolio included 20 multi-family buildings containing 399 residential units, 17 commercial spaces and 3 vacant lots located at 207- 209 West 140th Street and 304 West 150th Street. These lots will be transferred to a newly created single purpose entity and developed as affordable homeownership units under HPD’s Open Door Program. Construction loan financing closed in December 2021
“Homeownership is an essential to HCCI’s active development work, so the NME III project is squarely within our mission of revitalizing Harlem by creating opportunities for ownership for middle income residents.” – Dr. Malcolm A. Punter.

This will close in 0 seconds

 

 

 

Crotona Park Apartments

The former gas station was acquired to remediate the site and develop a newly constructed moderate- and low-income residential rental building. Throughout the development process, 32,000 tons of contaminated soil were removed to make way for 64 affordable housing apartments and 12,000 sf of ground-floor retail. The remediation was conducted within the NYS Brownfield Cleanup Program administered by the DEC and received a Track 1 designation signifying the cleanest standard for residential occupancy. The building incorporates energy conservation measures designed in conjunction with the NYSERDA Multifamily Performance Program and will deliver 25% energy savings. The project received a 2012 Big Apple Award from the NYC Brownfield Partnership.

This will close in 0 seconds

 

 

 

NME II

Northern Manhattan Equities II was formed as a joint venture between Exact Capital, HCCI, and Prestige Management in order to renovate and preserve needed affordable housing in the northern Manhattan community. The joint venture has extended the property’s existing regulatory agreement to ensure longstanding affordability for the Harlem community. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening

.

 

This will close in 0 seconds

 

 

 

Crotona Park Equities

Exact Capital has formed a joint venture with Bronx Shepherds to renovate and preserve affordable housing stock within the Bronx. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

NME I

Northern Manhattan Equities I was formed as a joint venture between Exact Capital, HCCI, and Prestige Management in order to renovate and preserve needed affordable housing in the northern Manhattan community. The joint venture has extended the property’s existing regulatory agreement to ensure longstanding affordability for the Harlem community. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

Hurston Place Equities

This joint venture with HCCI will provide capital to maximize operating efficiency and preserve the affordability of the portfolio. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

Villages at Congaree Pointe

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI.

This will close in 0 seconds

 

 

 

Binghamton

This 256-unit property was acquired by Exact Capital in December 2021 with a bridge loan from Pangea Capital in order to recapitalize and reposition the property using LIHTC proceeds. Ninety-eight of the apartments have received HUD Section 8 subsidies. Capital improvements include common area improvements, new storm windows throughout the complex, and upgraded kitchens and bathrooms. Site improvements include new asphalt paving, landscaping, yard lighting, signage, and drainage.

This will close in 0 seconds

 

 

 

Victoria Tower

The Victoria Theater, designed by Thomas Lamb and built in 1917, is part of Harlem’s historic Opera Row. Elements of the original building will be preserved as part of the development of the new Victoria Tower. This development is the product of a public-private partnership and will serve as an economic development driver for the northern Manhattan community. This new construction mixed-use project totals 380,000 sf, comprised of a 210-unit Renaissance by Marriot hotel, 192 units of residential rentals, 25,000 sf of retail space, a 25,000-sf cultural arts facility, and a sub-grade parking garage.

This will close in 0 seconds

 

 

 

Skyline Apartments

Skyline Apartments is a 250-unit affordable housing development located at 1090 Hank Aaron Drive SE in Atlanta, Georgia. All units are restricted at 60% Area Median Income by Low Income Housing Tax Credits. The project’s construction loan closing is slated for February 3rd, 2022.

Goldman Sachs has provided the construction loan and federal tax credit investment, while Stonehenge Capital has provided the state credit investment. Exact Capital also secured a grant from Invest Atlanta for $2 MM.

This will close in 0 seconds

 

 

 

Bryant Avenue Apartments

In 2010, this portfolio garnered tremendous media attention as one of New York City’s worst buildings, with over 1,800 violations, irresponsible ownership, and deplorable on-site conditions. Through a public-private partnership, this portfolio underwent a $9 MM substantial renovation to achieve energy-efficient affordable housing for low-income residents.

This will close in 0 seconds

 

 

 

Victory Commons

Exact Capital has deep experience repositioning assets for greater use. With this property, we have continued leveraging our experience by forming a joint venture with Victory Baptist Church to reposition an underutilized asset into much needed sustainable affordable housing for the Bronx Community.

This will close in 0 seconds

 

 

 

Livmor Condominiums

In 2005 a community-based church was faced with a common situation that many community organizations frequently experience: owning a dilapidated building that was sitting on valuable land combined with a pressing need to monetize their major asset. A joint venture was formed to allow for the development of a newly built mixed-use facility with residential, commercial, and community uses.

This will close in 0 seconds

 

 

 

Shadowood West

 This 174-unit portfolio was acquired by Exact Capital in September 2021 with a bridge loan from Walker and Dunlop. All unit rents are currently significantly below market, with 99% under a HAP contract. The project’s LIHTC closing is slated for summer 2022.

This will close in 0 seconds

 

 

 

Aspen Stratford

Aspen Stratford, located at 2-8 & 18-22 Stratford Place in Newark, New Jersey, contains 76 units. The buildings, which sat vacant and deteriorating for several years, were acquired from a notorious slumlord in 2018. This project was awarded a $3.7 MM grant from the Affordable Newark Program.

This will close in 0 seconds

 

Villages at Congaree Pointe

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI

This will close in 0 seconds

Villages at Congaree Pointe​

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI.

 

This will close in 0 seconds

 

 

 

NME III

This LIHTC Year 15 portfolio included 20 multi-family buildings containing 399 residential units, 17 commercial spaces and 3 vacant lots located at 207- 209 West 140th Street and 304 West 150th Street. These lots will be transferred to a newly created single purpose entity and developed as affordable homeownership units under HPD’s Open Door Program. Construction loan financing closed in December 2021
“Homeownership is an essential to HCCI’s active development work, so the NME III project is squarely within our mission of revitalizing Harlem by creating opportunities for ownership for middle income residents.” – Dr. Malcolm A. Punter.

This will close in 0 seconds

 

 

 

Crotona Park Apartments

The former gas station was acquired to remediate the site and develop a newly constructed moderate- and low-income residential rental building. Throughout the development process, 32,000 tons of contaminated soil were removed to make way for 64 affordable housing apartments and 12,000 sf of ground-floor retail. The remediation was conducted within the NYS Brownfield Cleanup Program administered by the DEC and received a Track 1 designation signifying the cleanest standard for residential occupancy. The building incorporates energy conservation measures designed in conjunction with the NYSERDA Multifamily Performance Program and will deliver 25% energy savings. The project received a 2012 Big Apple Award from the NYC Brownfield Partnership.

This will close in 0 seconds

 

 

 

NME II

Northern Manhattan Equities II was formed as a joint venture between Exact Capital, HCCI, and Prestige Management in order to renovate and preserve needed affordable housing in the northern Manhattan community. The joint venture has extended the property’s existing regulatory agreement to ensure longstanding affordability for the Harlem community. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening

.

 

This will close in 0 seconds

 

 

 

Crotona Park Equities

Exact Capital has formed a joint venture with Bronx Shepherds to renovate and preserve affordable housing stock within the Bronx. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

NME I

Northern Manhattan Equities I was formed as a joint venture between Exact Capital, HCCI, and Prestige Management in order to renovate and preserve needed affordable housing in the northern Manhattan community. The joint venture has extended the property’s existing regulatory agreement to ensure longstanding affordability for the Harlem community. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

Hurston Place Equities

This joint venture with HCCI will provide capital to maximize operating efficiency and preserve the affordability of the portfolio. The scope of repairs includes new gas boilers, façade repairs, new roofing, renovated kitchens and bathrooms, and public area freshening.

This will close in 0 seconds

 

 

 

Villages at Congaree Pointe

This joint venture with Armada Development will produce 240 newly constructed units of affordable housing in Richland County. The project will serve the neighborhood’s need for workforce housing, with rent restrictions at 60% AMI.

This will close in 0 seconds

 

 

 

Binghamton

This 256-unit property was acquired by Exact Capital in December 2021 with a bridge loan from Pangea Capital in order to recapitalize and reposition the property using LIHTC proceeds. Ninety-eight of the apartments have received HUD Section 8 subsidies. Capital improvements include common area improvements, new storm windows throughout the complex, and upgraded kitchens and bathrooms. Site improvements include new asphalt paving, landscaping, yard lighting, signage, and drainage.

This will close in 0 seconds

 

 

 

Victoria Tower

The Victoria Theater, designed by Thomas Lamb and built in 1917, is part of Harlem’s historic Opera Row. Elements of the original building will be preserved as part of the development of the new Victoria Tower. This development is the product of a public-private partnership and will serve as an economic development driver for the northern Manhattan community. This new construction mixed-use project totals 380,000 sf, comprised of a 210-unit Renaissance by Marriot hotel, 192 units of residential rentals, 25,000 sf of retail space, a 25,000-sf cultural arts facility, and a sub-grade parking garage.

This will close in 0 seconds

 

 

 

Skyline Apartments

Skyline Apartments is a 250-unit affordable housing development located at 1090 Hank Aaron Drive SE in Atlanta, Georgia. All units are restricted at 60% Area Median Income by Low Income Housing Tax Credits. The project’s construction loan closing is slated for February 3rd, 2022.

Goldman Sachs has provided the construction loan and federal tax credit investment, while Stonehenge Capital has provided the state credit investment. Exact Capital also secured a grant from Invest Atlanta for $2 MM.

This will close in 0 seconds

 

 

 

Bryant Avenue Apartments

In 2010, this portfolio garnered tremendous media attention as one of New York City’s worst buildings, with over 1,800 violations, irresponsible ownership, and deplorable on-site conditions. Through a public-private partnership, this portfolio underwent a $9 MM substantial renovation to achieve energy-efficient affordable housing for low-income residents.

This will close in 0 seconds

 

 

 

Victory Commons

Exact Capital has deep experience repositioning assets for greater use. With this property, we have continued leveraging our experience by forming a joint venture with Victory Baptist Church to reposition an underutilized asset into much needed sustainable affordable housing for the Bronx Community.

This will close in 0 seconds

 

 

 

Livmor Condominiums

In 2005 a community-based church was faced with a common situation that many community organizations frequently experience: owning a dilapidated building that was sitting on valuable land combined with a pressing need to monetize their major asset. A joint venture was formed to allow for the development of a newly built mixed-use facility with residential, commercial, and community uses.

This will close in 0 seconds

 

 

 

Shadowood West

 This 174-unit portfolio was acquired by Exact Capital in September 2021 with a bridge loan from Walker and Dunlop. All unit rents are currently significantly below market, with 99% under a HAP contract. The project’s LIHTC closing is slated for summer 2022.

This will close in 0 seconds

 

 

 

Aspen Stratford

Aspen Stratford, located at 2-8 & 18-22 Stratford Place in Newark, New Jersey, contains 76 units. The buildings, which sat vacant and deteriorating for several years, were acquired from a notorious slumlord in 2018. This project was awarded a $3.7 MM grant from the Affordable Newark Program.

This will close in 0 seconds