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Schochet Press Releases

RHF and Schochet Companies Preserve Symphony Towers in $136 Million Transaction. Published 10 months ago
BOSTON – February 12 2018 – MassHousing has provided a total of $135.5 million in financing to an affiliate of the non-profit Retirement Housing Foundation (RHF), to enable RHF to launch a major renovation of the 404-unit Symphony Plaza in Boston, and extend affordability at the property for at least 30 years. The Symphony Plaza refinancing was completed through the Federal Housing Administration’s Housing Tax Credit Pilot Program. The Tax Credit Pilot Program allows borrowers to utilize federal Low-Income Housing Tax Credits (LIHTC) in combination with an affordable fast-track mortgage product insured by the Federal Housing Administration (FHA). MassHousing is the only state housing finance agency in the country among 52 FHA-approved Tax Credit Pilot Program lenders. “This is an important transaction for the low-income seniors living at Symphony Plaza, who will continue to live affordably in Boston’s Back Bay, while benefitting from major property improvements,” said MassHousing Acting Executive Director Tom Lyons. “MassHousing delivers on our mission of confronting the housing challenges facing the Commonwealth to improve the lives of its people, by offering a broad range of tools that ...
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CBRE/NE Press Release Published last year
Boston – June 1ST, 2017 – CBRE/New England’s Capital Markets team today announced the sale of Glen Meadow, a 288-garden style apartment community located in Franklin, Massachusetts for $51.1million. CBRE’s multi-housing experts Simon Butler and Biria St. John exclusively represented the seller and procured the buyer, Glen Meadow Owner, LLC, a joint venture between The Schochet Companies and Rose Affordable Housing Preservation Fund IV, an affiliate of Jonathan Rose Companies. “We are pleased to have facilitated the sale of Glen Meadow on behalf of our client who acquired the community in 2000 as part of a larger portfolio acquisition said CBRE/NE’s Butler.” The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis and the potential for a value-add execution.” Glen Meadow was built in 1971 and is comprised of eight two-story garden style buildings. The community consists of 288 apartment homes containing 88 one-bedroom and 200 two-bedroom townhouses with an average size of 907 square feet. The community is located ...
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Press Release - Shepherd Park and Capitol Towers Celebrate RHF’s 55 years of Affordable Housing in Hartford, CT Published last year
Shepherd Park and Capitol Towers will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Friday June 9th 2017 at 11:00 AM. Capitol Towers, 144-units and Shepherd Park, 363-unit, affordable housing communities for seniors and individuals with disabilities, are located in Hartford, Connecticut and both are part of the RHF organization. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Shepherd Park and Capitol Towers and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet more than forty years ago. Since that time the company has developed, owned, and/or managed in excess of 7,000 apartments, the bulk of which are affordable, and over 600,000 square feet of retail and commercial space throughout New England ...
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Press Release - Riverside Village Celebrates RHF’s 55 years of Affordable Housing in Leominster, MA Published last year
Riverside Village will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Thursday June 8th 2017 at 4:00 PM. Riverside Village, located at 24 State Street, Leominster, is a 312-unit, affordable housing community for families and is part of the RHF organization. Residents of this family development benefit from a variety of programs, including classes in cooking, computer skills, parenting, money management, English as a Second Language and résumé writing. There are also several affiliate programs for children and teens through The Boys and Girls Club, The Spanish American Center, Mount Wachusett Community College and The United Way Youth Venture. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Riverside Village and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management ...
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Press Release - Seabury Heights Celebrates RHF’s 55 years of Affordable Housing in Worcester, MA Published last year
Seabury Heights will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Thursday June 8th 2017 at 11:00 AM. Seabury Heights, an RHF community, located at 240-244 Belmont Street, Worcester, is a 302-unit, affordable housing community for older adults and people with disabilities. Seabury Heights is located next to lovely Bell Pond and offers beautiful views of the city in all directions. Seabury Heights offers a variety of programs and services to keep our population of older adults and residents with disabilities active and engaged. We are proud to provide safe, affordable housing for our residents, who are increasingly aging in place. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Seabury Heights and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development ...
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Press Release - Douglas House and Hamilton Wade Celebrate RHF’s 55 years of Affordable Housing in Brockton, MA Published last year
Douglas House and Hamilton Wade will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Wednesday June 7th 2017 at 4:00 PM. Hamilton Wade and Douglas House, located at 20 Haverhill Street is a 242-unit, affordable housing community for seniors and individuals with disabilities and part of the RHF organization. On a sunny day, you may find the residents lounging on the gazebo, or on one of the many benches on the property, or you may find them enjoying the attractively landscaped grounds from the spacious solarium. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Douglas House and Hamilton Wade and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet more than forty ...
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Symphony East and West, Stearns and Mason Place Celebrate RHF’s 55 years of Affordable Housing in Boston, MA Published last year
Symphony East and West, Stearns and Mason Place will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Wednesday June 7th 2017 at 11:00 AM. Symphony Plaza East and West (404 elderly apartments at 333 and 334 Massachusetts Avenue), The Stearns Building (140 elderly apartments at 10 Temple Place), and 80 Mason Street (127 elderly apartments on Avery Street) are affordable housing communities and part of the RHF organization. Each of these communities enjoys the benefits of their Back Bay and Downtown locactions such as strong neighborhood agency connections, diversity, and consistent occupancy. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Symphony East and West, Stearns and Mason Place and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management ...
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Binnall House Celebrates RHF’s 55 years of Affordable Housing in Gardner, MA Published last year
Binnall House will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Tuesday June 6th 2017 at 11:00 AM. Binnall House, located at 125 Connors Street is a 134-unit, affordable housing community for seniors and part of the RHF organization. With its convenient location, Binnall House is a preferred choice for seniors in the community and has a very active resident population. To keep their residents busy, there are an abundance of programs available, but on a sunny day, you can usually find a group of residents sitting outside on the many benches surrounding the site. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Binnall House and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay ...
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MassHousing Press Release Published last year
MassHousing is the first Housing Finance Agency to complete a transaction using the Federal Housing Administration’s Housing Tax Credit Pilot Program BOSTON – May 30, 2017 – MassHousing has provided $9.25 million in financing to an affiliate of the non-profit Retirement Housing Foundation (RHF) for the preservation and renovation of 134 units of affordable housing at Binnall House in Gardner. Binnall House is home to senior citizens and residents with disabilities, who will see the affordability of their units extended for at least 15 years. The Binnall House refinancing is the first in the country in which a Housing Finance Agency (HFA) has completed a transaction through the Federal Housing Administration’s Housing Tax Credit Pilot Program. The Tax Credit Pilot Program allows borrowers to utilize federal low-income housing tax credits and an affordable fast-track mortgage product insured by the Federal Housing Administration (FHA). MassHousing is also the only HFA among 52 FHA-approved Tax Credit Pilot Program lenders. “We are committed to offering the development community innovative financial products that preserve much-needed affordable housing, while improving the lives of Massachusetts residents,” ...
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IREM REME Press Release Published 2 years ago
BRAINTREE – September 15, 2016 – IREM announced today that The Schochet Companies has been selected as a finalist for their 2016 REME (Real Estate Management Excellence) Award in the Workplace Environment – Sustainability Programs category. The REME Awards recognize real estate management excellence through innovative business practices and initiatives that advance the profession and the industry. The company is now part of an elite group of finalists in the REME Awards Program. REME Awards recognize companies and individuals who are engaged in real estate management of any or all asset classes, and from companies of any size. Winners will be announced during the IREM Fall Conference at the Inaugural Gala Dinner and REME Awards on Friday, October 21, 2016, in San Diego, CA. About The Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet in 1973. Since that time the company has developed, owned, and/or managed in excess of 7,000 apartments and over 600,000 square feet of retail and commercial space throughout New England and on the West Coast. Today, The ...
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Waterview Apartments in South Boston Extends Affordable Housing Published 3 years ago
BOSTON – December 9, 2015 – Senior citizens living at the 49-unit Waterview Apartments in South Boston will see affordability extended and some property improvements as a result of $10.2 million in MassHousing financing. The Waterview Apartments are being refinanced by Waterview Associates LP through the U.S. Department of Housing and Urban Development’s (HUD) Multifamily Accelerated Processing (MAP)/Ginnie Mae Mortgage Backed Securities (MBS) program offered by MassHousing. As part of the MassHousing financing, the federal Section 8 Housing Assistance Payment (HAP) contract for the 49 apartments will be extended for 20 years. "We were happy to be able to offer this financing option to Waterview Associates, which is committed to keeping the Waterview Apartments affordable to seniors in South Boston while also making some property improvements that will benefit the residents long into the future," said MassHousing Executive Director Thomas R. Gleason. Located at 1350 Columbia Road, the Waterview Apartments consist of 35 one-bedroom apartments and 14 twobedroom apartments in a three-story, walk up building. As part of the MassHousing financing, the property owner will install a new elevator. Other improvements will include new air conditioning units, installation of an ...
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The Schochet Companies Earns Green Accreditation under HUD Initiative Published 5 years ago
SPI-HUD Green Organizational Accreditation is part of the Affordable Green Initiative launched by the U.S. Department of Housing and Urban Development in 2012. The Sustainable Performance Institute (SPI) recognizes those HUD grantees and affordable housing organizations in achieving portfolio-wide improvements. The vision of this initiative is to enable organizations to institutionalize sustainability and achieve higher levels of performance of the management of their housing portfolios. Accreditation differentiates organizations that seek to implement green building and operational best practices, build capacity of staff, track and measure building performance effectively over time, realize significant improvements in health and energy efficiency, and achieve exemplary cost savings. Only 24 organizations from across the U.S. were accredited through the pilot. Of those, 17 achieved full accreditation, meaning they have already implemented most or all of the best practices contained in the Accreditation criteria and can document their actions accordingly, while an additional 7 organizations received Provisional Accreditation, meaning they have made commitments to the best practices with the intention of implementing them sometime during the accreditation term. For The Schochet Companies this accreditation formalizes and ...
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The Schochet Companies News

Press releases, events, and related news.

RHA Fall Ad

August 2, 2009 2857 2857

Schochet Associates/Federal Management was a featured sponsor at the Greater Boston Real Estate Board/Rental Housing Multifamily Conference & Expo.

Riverside Towers Seniors Enjoy End Of Summer Beach Party

August 1, 2009 4278 4278

If we can't get to the beach, we'll bring the beach to us!!! This was the rallying cry for residents and staff at Riverside Towers, a housing development for elderly and disabled residents, overlooking the Mystic River in Medford Square.

The Chairman's Challenge

August 1, 2009 2945 2945

Richard Henken is co-chairman of the Rental Housing Association MassHousing Chairman's Challenge Committee.

Summer Theatre Program at Pinecrest

July 7, 2009 2908 2908

Read an article from the Athol Daily News, July 7, 2009 about the Summer Theatre Program at Pinecrest.

Federal Management Recognized by City of Boston English Works Campaign

February 18, 2009 3703 3703

Boston Mayor Thomas M. Menino and the English Works Campaign awarded the first 'City of Boston/ English Works Campaign Certificate of Recognition' to 11 unique local businesses and labor management partnerships for their support of English language classes for immigrants in the Commonwealth of Massachusetts. Other key labor, community, and educational partners were also recognized.

Searles Buyers Granted More Time

January 5, 2009 3273 3273

Berkshire Development Partners LLC is working on its second extension in an effort to finalize its purchase of the Searles/Bryant complex.

Federally Subsidized Housing Offers Right Risk-Adjusted Returns

September 29, 2008 2789 2789

by Richard J. Henken

Smart investors are continually on the lookout for opportunities to earn strong risk-adjusted returns. A fresh, little-known asset class can reward investors who understand its hybrid benefits. In strong markets, projects backed by the Department of Housing and Urban Development provide a unique opportunity to combine bond-like fixed-income properties with the potential for growth through real estate appreciation.

New Villages proposed for Smithfield

September 18, 2008 2910 2910

The developer of Newport's Brick Marketplace, who owns 100 acres off Route 116 here, is among a number of business-oriented leaders about to unveil their vision for the creation of two new villages in town.

HousingFinance.com: The Case for Preservation

September 6, 2008 3685 3685

Last September and October, housing officials sat across a table from the owners of Starrett City, the nation's largest privately owned affordable housing complex, located in Brooklyn, N.Y. Armed with a stack of market studies and financial statements, officials argued Starrett City would provide the owners a stronger and more predictable return if kept affordable than if Starrett City Association attempted to remove the property's income restrictions.

Brick Market Place

September 5, 2008 3236 3236

Recent months have seen a second wind for the historic Brick Market Place, thanks to the ongoing renovation efforts of Schochet Associates, a development and property management company located in downtown Boston. Boasting over four acres of retail along America's Cup Ave., Brick Market Place has long been a treasured shopping destination in the city, and now sees a bright future as a centerpiece to the economic revitalization of the city's historic downtown area.