Vitus partners with Colorado Coalition of the Homeless to provide housing for low-income and homeless families in Denver

TAX CREDIT ADVISOR – Vitus, a national developer and owner of affordable housing, has announced the preservation and planned renovation of Renaissance 88, an affordable housing complex in the northeast quadrant of the Denver metropolitan area. Renaissance 88 is the company’s first project in Colorado and will provide relief for residents at a time when a lack of affordable housing is posing a significant threat to the economic security of families across the state.

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What Archie Bunker Teaches Us About the Housing Crisis

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Remember Archie Bunker? Not really? That’s OK—it’s an old reference.

Archie Bunker was the protagonist of the hit 1970s sitcom All in the Family. As the series name implies, he was a family man—hardworking, gruff, charming, and bigoted in a way that wouldn’t fly on television today.

But that’s not the only thing about Archie that doesn’t stand the test of time. Because in the 1970s, on his salary as a New York loading-dock foreman, Archie and his family rented a home in Flushing, Queens. In today’s world, that math doesn’t work. Archie would earn a salary of roughly $50,000 per year now, enough to realistically afford a rent of about $1,250 per month. The Bunkers’ home would rent for at least twice that. And don’t get me started on the rent-controlled fantasies of Friends or Seinfeld!

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See what upgrades are planned for aging Linwood Apartments

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GAINESVILLE, GA – Cathy Pulliam moved into the Linwood Apartments in Gainesville in 2013 to care for her ailing mother. Their unit was better maintained than some, she said, though the kitchen sink pipes would frequently leak.

Since laying her mother to rest in February, Pulliam has remained in the apartment the two shared. Now, she could be one beneficiary of about $5 million in renovations planned for Linwood, a project that will upgrade low-income housing at a time when quality, affordable housing in Gainesville has grown scarce.

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‘Affordable housing’ effort has local tie

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ENUMCLAW, WA – Stories abound regarding the housing crisis plaguing American cities both large and small, where even working-class families can have difficulty finding an adequate and affordable place to rest their heads.

Sometimes, those big-picture issues can be seen at the grassroots level, played out locally. That’s the case in Enumclaw, for example, where an apartment complex is owned and managed by Vitus, a Seattle-based company that is actively involved in a nationwide effort to combat runaway costs.

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Tacoma's rents keep going up ... and up ... and up

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TACOMA, WA – The median price of homes sold in March was just under $350,000 in Pierce County, but it's also worth noting how much rents continue to rise in Tacoma and the surrounding area. Multiple reports show they are continuing to go up following a hefty year-over-year increase of more than 8 percent from 2016 to 2017. Amid all this, Home1, a national campaign is pushing to spread the word about the housing crisis. 

“For the first time in our nation’s history, people with good jobs can’t afford homes,” Stephen Whyte, founder and managing director of Seattle-based Vitus, said in a statement for Home1’s launch. “In my 25 years in affordable housing development, I have seen this issue grow from a conversation into a full-blown national crisis."

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Affordable housing advocacy group wants to make it a campaign issue

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LOS ANGELES – This year, a new coalition of housing groups and non-profits wants to make sure affordable housing becomes a focus of the midterm political debate. Via a series of promotions and videos, as well as a feature-length documentary coming out this fall, the Home1 advocacy campaign seeks to sound a clear warning about the scope of this problem and make this “silent crisis” part of the larger debate.

According to Stephen Whyte, founder and managing director of Vitus, an affordable housing developer and member of Home1, “We need to do a better job, as advocates and part of the industry, to put together a better message and stop being so technical.” He says, “Home1 will raise awareness, so the man on the street knows it’s a crisis and an issue to be worked on. Hopefully, this awareness translates into more support for the tools that continue to make affordable housing possible.”

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Public-Private Partnership Takes on Affordable Housing in Atlanta’s Pittsburgh Neighborhood

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ATLANTA — Vitus, a national developer and owner of affordable housing, has announced the purchase of Heritage Station, a multifamily complex in Atlanta’s Pittsburgh neighborhood offering low-income housing to both seniors and families. This is the third acquisition Vitus has made in the Atlanta market in the past 18 months and the developer plans to buy two additional low-income properties in the state of Georgia before the end of 2018.

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Vitus Acquires Affordable Housing, Seniors Community in Atlanta’s Pittsburgh Neighborhood for $26.3M

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ATLANTA — Vitus has acquired Heritage Station, a 370-unit affordable housing community in downtown Atlanta’s Pittsburgh neighborhood, for $26.3 million. The name of the seller was not disclosed. All of the units are reserved for residents making 60 percent or less of the area median income, and 40 percent of the units will be set aside as designated seniors housing. 

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Naperville affordable housing complex Ogden Manor being sold to private company

NAPERVILLE, IL.  — A low-income housing complex in Naperville owned by DuPage County is being sold to a private company that plans to spend $4 million renovating the development.

The DuPage County Board on Tuesday authorized the sale of Ogden Manor, at Ogden Avenue and Mill Street, to the Vitus Group, which specializes in redeveloping low-income housing.

"I'm going to call this a win-win-win situation," said Kenny Coles, DuPage Housing Authority's executive director.

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Physical Activity Breaks Down Barriers in this Vitus Group Community

Everyone knows physical activity is good for the body. Elia Mrak has always believed it could do so much more than improve physical health.

He believed it could improve relationships. Build self confidence. Break down social barriers. Restore vitality. He was sure it could do all that and so much more.

So when the Seattle-based dance coach was asked by affordable housing developer Vitus to bring a dance and movement program to San Diego’s Meadowbrook Apartments, he leapt at the chance.

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Vitus to Give Philly Senior Housing a Makeover

PHILADELPHIA—Vitus will preserve and renovate John Fox Towers, a 273-unit community for low-income seniors at 22 S. 22nd St. in Philadelphia. The 16-story building, formerly known as Sidney Hillman Apartments, is owned by Philadelphia Joint Board, Workers United, and managed by Prudent Property Managers. Prudent has operated and maintained the property’s affordable housing since its construction in 1967.

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Tax Credits Preserve History, Affordability of Connecticut Senior Housing

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CONNECTICUT -- School Apartments in New Britain, Conn., has a long track record of addressing the community’s most pressing needs–first, as New Britain’s only secondary education campus for 65 years, then as a stronghold of affordable senior housing since 1978.

Published by Novogradac & Company LLP

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10 Must Reads for the CRE Industry Today

Vitus Group to Revamp Six Affordable Housing Properties “Vitus Group is set to add roughly 1,200 units to its portfolio in the last six months. The six properties are located in St. Paul, Minn.; Atlanta; Providence, R.I.; East Orange, N.J.; Miami Beach, Fla.; and Danville, Ill. The developer plans to renovate the multifamily communities and maintain their affordability. 

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