• Galilee Senior Apartments, Louisiana – Galilee Senior Housing LP is undertaking an approximately $24.5 million in place, renovation of two existing 100% Project Based Voucher senior, buildings that total 126 units (31 studio and 95 one-bedroom units) totaling 64,407 SF. The renovation will include full unit remodels (new flooring, casework, appliances, HVAC), as well updating of the buildings’ common areas. This project was one of the oldest Section 202 projects in the state. This project is being funded with 4% Low Income Housing Tax Credits (LIHTC) and private placement execution for the Tax Exempt Bonds, Trust Fund, Seller Note, Deferred Developer Fee, Traditional Permanent debt, CDBG, In Place income and Project reserves.

• Snowden Senior Apartment, Texas – Snowden Apartments, LP, whose whose sole member will be a Facility Corporation (FAC), will be formed to provide for the acquisition and construction of an new approximately 135-unit multifamily housing project for Seniors aged 62 years and older. It is proposed to contain 14 units at 30% of area median income and below, 47 units at 50% of area median income and below, and 74 units at 60% of area median income and below. The development will provide a mix of one and two-bedroom units with appropriate design considerations for senior living households and is anticipated to be 100% affordable with 40% (54) of the units subsidized by Project-based local, non-traditional rental subsidy programs. All units have restricted rent and must accept Section 8 vouchers. The total project cost is $31.5M and Uses 9% LIHTC, Traditional Fannie Mae debt and Deferred Developer Fee. This housing authority project is using $9.9M in Moving to Work funds during construction and permanent financing phase.

• Prairie View, Heyworth, Illinois – Prairie View at Heyworth is a new construction project of 30 single-family homes for low-income residents. Development is comprised of 15 duplex structures, that are an even mix of 2- and 3-bedroom units totaling 42,765 SF. The project will include in unit amenities such as: attached garages, private patios, window treatments, ceiling fans, central air conditioning, walk-in closets and in unit washer and dryers. Kitchens will be equipped with garbage disposals, dishwashers, microwave ovens and refrigerators. Site will also include a tot lot playground. The total development of this project is $11M and sources include 9% LIHTC, Deferred Developer Fee, Sponsor Loan, American Rescue Plan, Permanent debt and FHLB.

• Villas at Prairie Vista, Bloomington, Illinois- Vista at Prairie is a new construction project of 48 single-family homes for low-income residents. Development is comprised of 22 two bedrooms units and 26 three bedroom units totaling 67,760 SF. The project will include in unit amenities such as: attached garages, private patios, window treatments, ceiling fans, central air conditioning, walk-in closets and in unit washer and dryers. Kitchens will be equipped with garbage disposals, dishwashers, microwave ovens and refrigerators. Site will also include a tot lot playground. The total development of this project is $14.8M and sources include 9% LIHTC, Deferred Developer Fee, Sponsor Loan, American Rescue Plan, Permanent debt and FHLB.

Projects in the Design Phase

• Oak Village and West Oaks, Arkansas– 100% Project Based, Rental Assistance Demonstration (RAD) Conversion. The project is currently comprised of 148 family units. The land and will make a real property donation of the existing residential buildings and land to the applicant. The units are currently public housing and will transition through the RAD/Section 18 blend program. The project will utilize the allowed de minimis reduction by HUD and rehab a total of 140 units. The project is comprised of several scattered site duplexes which are single story, and include one-bedroom, two-bedroom, three-bedroom and four-bedroom units. Rehab will include upgrading kitchens and baths, flooring, paint, energy efficient appliances, landscaping and improvement of exterior finishes. In addition to the RAD conversion, the total development of this project is $35M, the project is submitting applications for 4% federal low-income housing tax credits (LIHTC), bond financing, HOME and National Housing Trust Funds.

• Steer Place, Illinois – Non profit sponsor is a housing authority is proposing the rehabilitation of its 108-unit existing apartment complex – Steer Place Apartments. The project includes 107 one-bedroom units and 1 two-bedroom unit and is age restricted to those 55+. Steer Place Apartments was converted to RAD in 2017, which resulted in all of the units having project based vouchers. This means that no tenant at the project pays more than 30% of the annual income. The rehabilitation of Steer Place Apartments is critical to the well-being of the elderly tenants in the building. The rehab will include upgrading the kitchens, bathrooms, living room and bedrooms of all 108 units in the building. The rehab will also include capturing unused spaces within the building to provide new amenities as well as recreating amenities which were lost during the COVID-19 pandemic. Post-renovation, the site will also offer a business center/computer lab, exercise facility, and a library. The total development of this project is $19.1M and sources include 9% LIHTC, Deferred Developer Fee, Sponsor Loan and Permanent debt.
• Galilee City Apartments, Louisiana- Galilee City Apartments is a proposed 4% and Tax-Exempt Bond acquisition rehab LA. The property will be owned by a single-purpose entity formed for the utilization of Low-Income Housing Tax Credits (LIHTC). The property rehabilitation is concurrently pursuing PRIME 2 CDBG-DR funding and will be developed to FORTIFIED standards and will receive Enterprise Green Certification. The project incorporates an extensive renovation of a 76-unit former LIHTC (post-compliance) project. The units are spread across seven (7) one and two-story apartment buildings. All necessary resident relocation is anticipated to take place on-site with no permanent relocation needed. This $20.3M total development cost project is being funded with 4% Low Income Housing Tax Credits (LIHTC) and private placement execution for the Tax Exempt Bonds, Seller Note, Deferred Developer Fee, Traditional Permanent debt, CDBG, In Place income and Project reserves.

• Lakeside Apartments, Louisiana- There are currently 88 units on the property. An additional 22 apartment units will be constructed for a total of 110 apartment units, the final mix of apartments is to be determined. Several of the existing apartment buildings will be renovated and new additions to convert some buildings from a 4-plex to a 6-plex building. The additions will be 2 story with exterior stairs. A new addition is planned at the existing Office / Community building. This addition will include a new laundry facility. This $34.6M total development cost project is being funded with 4% Low Income Housing Tax Credits (LIHTC) and private placement execution for the Tax Exempt Bonds, Seller Note, Deferred Developer Fee, Traditional Permanent debt, CDBG, Assumed Loan, In Place income and Project reserves.
• Fay Tower, Virginia

• NOTE: Some of the projects above were completed as head of prior firms