Commonwealth Cruises into Summer with Major Milestones
June 23, 2025
Commonwealth rolled into summer on a high note, celebrating a wave of accomplishments achieved in just over a month’s time—including FOUR new tax credit awards, ONE successful closing, and FIVE exciting events scheduled across FOUR states!
New Tax Credit Awards
The Marq | Trinidad, Colorado
At the end of May, Commonwealth received a long-anticipated tax credit award for The Marq—two years in the making. This $18.5M development will bring 40 affordable 1-, 2-, and 3-bedroom homes across two 2-story buildings to families earning 30–60% of the area median income (AMI). Residents will enjoy a clubhouse with a community room, business and fitness centers, plus an outdoor pergola and playground. Closing is anticipated by year-end, with construction shortly to follow. The grand opening is expected in late spring/early summer of 2027.
Valley Vista | McMinnville, Oregon
In mid-May, Valley Vista was awarded a 4% LIHTC and LIFT Funds via a letter of intent from Oregon Housing and Community Services (OHCS). This 96-unit community will feature 1-, 2-, and 3-bedroom homes across five 2- and 3-story buildings for households earning 30–60% AMI. Amenities will include a clubhouse with community and fitness rooms, a business center, on-site management, a playground, and community garden beds. As part of OHCS’s new development process, we are confidently progressing towards closing in November of 2025 and opening in the Summer of 2027.
Austin Commons | Milwaukee, Wisconsin
Wrapping up May, Austin Commons received a tax credit award thanks to a partnership with Northernstar Companies, led by Milwaukee-based, BIPOC-owned developer Brandon Methu—an emerging leader dedicated to equity and neighborhood reinvestment. This $30.7M midrise development will deliver 100 affordable 1-, 2-, and 3-bedroom homes to residents earning 30–80% AMI. The community will also feature a fitness center, property management office, and community room. Austin Commons is expected to open in the early months of 2027.
Harding Station | Marion, Ohio
Commonwealth kicked off June celebrating another win with Harding Station, a $19.7M development offering 72 affordable homes across three garden-style walk-up buildings. Residents (earning 30–70% AMI) will enjoy amenities like a clubhouse with a fitness center and computer stations, an outdoor playground, a covered picnic pavilion, and a dog park. The development also includes 811 Vouchers to support individuals with accessibility needs. Scheduled to open in Spring 2027.
Successful Closing
Fairhaven Meadows | Brevard, North Carolina
In mid-June, we successfully closed Fairhaven Meadows, a $15.9M community offering 42 affordable homes across two garden-style buildings for families earning 40–70% AMI. The development includes a clubhouse with a fitness center, community and business rooms, plus a playground and picnic pavilion. Construction begins in July of 2025, with an anticipated grand opening in the Fall of 2026.
What’s Ahead for Commonwealth: Events & More
From mid-June to mid-August, Commonwealth will host:
- Four Grand Openings
- Two Groundbreakings
- Across four states: Oregon, North Dakota, Wisconsin, and North Carolina
And that’s not all—we anticipate celebrating even more credit awards and successful closings in the coming months.
These exciting milestones are a testament to the resilience, teamwork, and collaborative spirit that define the Commonwealth culture. Our success is directly fueled by dedicated internal teams and the invaluable support of our partners across the country, including city and government officials, housing authorities, lenders, investors, and many others.
Thank you to everyone for believing in our mission. Commonwealth has more great news on the horizon. To stay informed, like Commonwealth Companies on Facebook and follow Commonwealth on LinkedIn.
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