📢 ANNOUNCEMENT: Elizabeth Fish Glynn has been named the Senior Vice President of Climate Lending at BlueHub Loan Fund. Betsy's extensive background in clean energy and housing, combined with her expertise in managing complex financial transactions, positions her to lead and expand BlueHub Loan Fund’s climate lending strategy. She has dedicated her career to advancing environmental justice and increasing access to clean energy for underserved communities. “We are very excited to welcome Betsy Glynn to the BlueHub team, not only for her deep expertise in clean energy but also for her commitment to environmental justice,” said Karen Kelleher, President of BlueHub Loan Fund. “Her addition will boost our technical, strategic and policy leadership capacity and enable us to increase our work fostering resiliency and environmental equity in and for underserved communities.” Read more: https://lnkd.in/eHAwByhk #NewHire #ClimateLending #CleanEnergy #ImpactInvesting #CDFI 🌍
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A recent Bisnow article highlights the growing difficulties in financing senior housing projects amid rising costs and reduced advocacy. With an aging population and increased demand, the sector faces significant obstacles, including inflation, limited low-income housing tax credit (LIHTC) equity, and high construction costs. The NHP Foundation (NHPF) and others are working to address these challenges and advocate for greater support in senior housing. At BlueHub, we are aligned with this mission and are committed to leveraging our resources and expertise to make a meaningful difference in the sector. We recently provided a $14 million loan alongside Reinvestment Fund to support NHPF's Park Heights project in Baltimore, a 100-unit 100% affordable senior housing development. As Mansur Abdul-Malik, MRED, HDFP, PMP of NHPF aptly put it, “When everything is broken, that's when we typically come up with our best ideas.” To learn more about the current state of senior housing and the innovative solutions being discussed, read the full Bisnow article: https://lnkd.in/g5DMNv32 #BlueHubCapital #AffordableHousing #SeniorHousing #ImpactInvesting #LIHTC #CommunityDevelopment
Senior Housing Is ‘Losing The War' For Funding As Development Gets Harder
bisnow.com
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🏠 California has granted $29M to convert the Travelodge in Costa Mesa into 76 units of permanent supportive housing. This redevelopment, led by American Family Housing, Inc. (AFH), a BlueHub borrower, will provide essential housing for formerly homeless and at-risk individuals in our community. This project is a significant step forward in addressing the homelessness crisis in Orange County. AFH will not only oversee construction, but also provide on-site support services for residents, ensuring a safe and nurturing environment for all residents. Additionally, a commercial kitchen on the property will offer job opportunities and training to tenants, further supporting their journey to stability. 🔗 Learn more about this exciting development in the Los Angeles Times: https://lnkd.in/ey-eR7uG #AffordableHousing #SupportiveHousing #Homelessness #CommunityDevelopment #BlueHubCapital #AdativeReuse
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🔍 According to S&P Global, homeowners insurance rates in the US jumped by double digits in 2023, with some states seeing increases as high as 23.3%! Combine that with a 24% rise in median property tax bills—driven by a 40% surge in real estate values since 2019—and it's clear that homeowners are facing significant challenges. 🏡 🚨 What This Means for You: While your mortgage payment may be fixed, your property taxes and insurance premiums are not. Insurance premiums are climbing due to natural disasters, inflation, and higher rebuilding costs. Property tax increases often result from reassessments tied to rising property values. These rising costs could lead to higher monthly payments. Read more here: https://lnkd.in/enpmFf2U #homeownership #housing #insurance #inflation #housingcounselors
Tips for Managing Rising Property Taxes and Insurance Premiums
bluehubcapital.org
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#WinnDevelopment will rejuvenate the Bedford Gardens in Hartford, CT's Clay Arsenal neighborhood, preserving its rich history while ensuring long-term affordability. The project—an $18.7M renovation of 84 apartments—includes essential upgrades like new roofs, windows, HVAC systems, and accessible units, all aimed at enhancing the quality of life for residents. BlueHub is serving as an intermediary lender facilitating a $3.38 million state historic tax credit investment in the project. To learn more about this transformative project, visit New England Real Estate Journal (NEREJ): https://lnkd.in/dJ95S5ND #AffordableHousing #CommunityRevitalization #HistoricPreservation #BlueHubCapital #WinnCompanies #ImpactInvestment #NEREJ
WinnCompanies acquires 84 units to launch $18.7m rehab renovation
nerej.com
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📊 We're Hiring: Compliance Analyst Join our mission-driven team at BlueHub Capital as a Compliance Analyst! If you're passionate about making a positive impact through community development and finance, we want to hear from you. 📍 Location: Boston, MA (Partially Remote) 💼 Role: Compliance Analyst 🤝 Become a member of BlueHub's compliance team to help us meet CDFI requirements for federal funding, New Market Tax Credits allocation needs, as well as investor and donor requirements. 🔗 Learn more and apply here: https://lnkd.in/ebXDWSD6 #Hiring #ComplianceAnalyst #BostonJobs #JoinOurTeam #BlueHubCapital
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🎨 Teen employment in Boston has reached a record high, thanks in part to the work of Artists For Humanity (AFH)—a BlueHub Capital borrower. This summer, AFH has created over 460 jobs for young adults in partnership with the City of Boston's Work Empowerment Office of Youth Employment and the futureBOS initiative. These opportunities have generated nearly $1.4 million in wages, empowering Boston's youngest workforce. Anna Yu, AFH's Executive Director, shared the impact: "We're not just encouraging teens creatively, but also helping them build life and professional skills that will last a lifetime." AFH’s youth empowerment program, now in its 33rd year, is Boston’s largest employer of teens, with 90% of those employed identifying as people of color and 88% coming from low-income communities. This initiative is making a real difference, providing young people with invaluable skills and experiences that will shape their futures. Read more about this impactful work in the Boston Business Journal: https://lnkd.in/es8G25uZ #YouthEmpowerment #ArtistsForHumanity #BostonTeens #CommunityImpact #BlueHubCapital
Artists for Humanity has helped create $1.4M in wages for Boston teens - Boston Business Journal
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Congrats to BlueHub borrower Bronx Pro Group, LLC and Services for the UnderServed (S:US) on the groundbreaking of Starhill Phase II at 1600 Grand Ave. in Morris Heights. This significant redevelopment, financially supported by BlueHub through a participation loan with CSH, the Source for Housing Solutions, will bring 244 affordable apartments, including 74 supportive housing units for formerly homeless individuals and families. The project also features a 10,000 square foot community facility and 11,500 square feet of open space accessible to the public. This is the eighth joint venture between S:US and Bronx Pro Group, furthering their mission to provide over 830 units of affordable housing to the West Bronx. Read more about this transformative project and its impact on the community in the New York Business Journal: https://lnkd.in/ed-pPgFM
Developers break ground on second phase of Bronx housing development - New York Business Journal
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BlueHub makes investments that can inject life into underserved communities, according to Barron's. In a piece on how housing is an impactful and safe investment, Abby Schultz details the work done by IMPACT Community Capital LLC. The article details the significant increase in allocations to affordable housing, the substantial need for such investments, and the positive outcomes for low-income communities. Read the full article at: https://lnkd.in/gSKHseTc
As Impact Investors Home in on Affordable Housing, One Expert in the Field Is Expanding Its Reach
barrons.com
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