Related Cos., New York, has announced a joint venture with former football star Tiki Barber aimed at increasing the nation's stock of high-quality affordable housing.The new company, Tiki Ventures, will partner with Centerline Capital Group to purchase and extensively renovate older affordable housing developments, Related said. The first phase of the venture will consist of the acquisition and refurbishment of over 3,500 residential units for low- to moderate-income families in Virginia and North Carolina. Centerline will finance approximately $150 million of the project. "Related has been at the forefront of affordable housing development for 35 years, and this venture continues this legacy," said Stephen M. Ross, chairman of Related and Centerline. Mr. Barber, formerly a running back for the New York Giants, is now a sports broadcaster. The companies can be found online at http://www.related.com, http://www.centerline.com, and http://www.tikiventuresllc.com.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
10h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
11h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28