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Celebrating Affordable Housing Excellence at Novogradac 2025 Awards

Novogradac has once again recognized outstanding contributions to affordable housing with its esteemed Developments of Distinction Awards for 2025. This annual event, which celebrates properties that exemplify excellence in affordable housing projects, reveals the ongoing commitment of various communities to provide affordable living solutions across the United States.

This year’s winners encapsulate the essence of innovation, community care, and resilience, showcasing properties from California, Massachusetts, New York, and the U.S. Virgin Islands. The awards honor developers who leverage low-income housing tax credits (LIHTCs) and U.S. Department of Housing and Urban Development (HUD) funding to create or preserve affordable housing.

The 2025 Award Recipients

Several properties stood out, each with a unique impact on their local communities:

1. Renaissance at Lincoln Park, New Rochelle, NY
This project aimed to expand an aging Boys & Girls Club facility by introducing 179 affordable apartments through an impressive $96.7 million investment. Developed by The NRP Group and its partners, this project symbolizes a pivotal shift towards enhancing community resources, standing alongside a new, state-of-the-art Boys & Girls Club. The development highlights not only residential benefits but also integrates community youth programs.

2. Walter I.M. Hodge Pavilion, St. Croix, U.S. Virgin Islands
After the destruction caused by two hurricanes in 2017, this property underwent a dramatic transformation under the HUD Rental Assistance Demonstration (RAD) program. With the renovation of 248 apartments, MDG Real Estate Partners and the Virgin Islands Housing Authority ensured modernizations and sustainable energy features, thereby revitalizing a vital housing community in the region.

3. The Lyndia, Boston, MA
A collaboration between The Community Builders and Pine Street Inn, The Lyndia is one of New England's largest permanent supportive housing developments. Moreover, this site adds 202 apartments with robust support services tailored for vulnerable populations, reinforcing the importance of community-focused initiatives in combating homelessness and providing long-term support.

4. Williamsburg Houses, Brooklyn, NY
This historic property, vividly alive in the architectural landscape of New York City, saw a transformative redevelopment. The initiative, spearheaded by MDG Real Estate Partners LLC and Wavecrest Management Group, repaired urgent infrastructure needs while offering educational scholarships to residents, demonstrating a thoughtful approach to community enrichment.

5. Rancho Las Bolsas, Temecula, CA
Jamboree Housing Corporation incorporated this 55-home development into a broader market-rate scenario, promoting beneficial partnerships and on-site services aimed at long-term success for residents.

Award Ceremony Details

The winners will be honored at the Novogradac 2025 Housing Tax Credit and Bonds Conference taking place in Nashville, Tennessee, on September 25-26. The event not only highlights achievements but serves as a platform for discussing future innovations in affordable housing.

The Importance of Affordable Housing

The annual ceremony is more than just an awards program; it is crucial in emphasizing the need for continual investment in affordable housing solutions. By acknowledging these developments, Novogradac plays a pivotal role in promoting strategies that elevate living standards for many individuals and families across the country.

Looking Forward

Details on future nominations for the 2026 round of awards can be found at Novogradac’s official website. With more than 35 years of experience in areas such as affordable housing and community development, Novogradac is dedicated to inspiring and facilitating continued growth in the housing sector.

About Novogradac

Novogradac operates with over 850 employees across more than 25 cities, providing tax, audit, and consulting services with a specialty in areas related to housing and renewable energy. For more information, visit Novogradac’s website or contact them directly at (415) 356-8000.