Our team works collaboratively with local governments and community stakeholders to address the scarcity of high-quality housing options for families and seniors, regardless of socioeconomic status. We engage a triple bottom-line approach focused on delivering social, environmental, and economic value within our communities. Our capabilities span the full spectrum of the development process including finance, design, entitlements, project management, general contracting, accounting, asset management and compliance. We maintain a proven track record of utilizing complex financial products and creatively navigating challenging development sites to successfully deliver transformative residential communities that incorporate valued amenities and resident programs/services.
Our development team has deep, established relationships in our target markets and these partnerships are essential to our business model. The majority of our developments are financed under the Low-Income Housing Tax Credit (LIHTC) program which naturally forms public/private partnerships between the state tax credit and/or bond issuer, municipalities and financial institutions purchasing the tax credits. Furthermore, we partner with local community based operating partners such as Public Housing Authorities, Community Redevelopment Authorities (CRAs), Housing Finance Corporations (HFCs), Community Development Corporations (CDCs) and local 501(c)(3) not-for-profit organizations who truly understand the needs of the neighborhoods we develop within, who often provide essential services to our residents.
Our construction team is responsible for managing construction risk and supervising third-parties who work on our projects. It is critical to have in-house construction expertise given the complexities of the development process and potential cost volatility associated with it. The team works directly with McDowell’s development team from project conception through issuance of the final certificate of occupancy in a design-build environment, ensuring unity and collaboration throughout the process. Our integral design-build methodology drives design efficiencies, cost savings, and on time delivery. The construction team is composed of seasoned design and construction professionals that have worked on $2.5BN of projects.
Our asset management team focuses on the operational performance of the assets and manages the complex and highly regulated landscape of affordable housing assets. Rent and income restricted communities are heavily monitored and regulated at the local, state, federal levels. Our investors also maintain stringent reporting requirements, various certifications, and financial covenants to protect their investments in the tax credits. We have an internal team dedicated to managing complex IRS (LIHTC) compliance test/rules, financial partner reports and certifications, annual tax returns, audits, and financial performance reporting.