AFFORDABLE / PRESERVATION

As part of our commitment to social sustainability, we acquire and redevelop affordable housing throughout the United States in order to improve product quality while preserving preexisting affordability restrictions. We have also worked with regional housing authorities to redevelop their public housing stock. 

Sometimes, these assets require substantial redevelopment in order to prevent them from becoming obsolete. At other times, they require significant and complex intervention, at both the development and management levels, to eliminate crime and other communal blights that render the development unsuitable for safe and dignified living. On still other occasions, we utilize complex financing instruments in order to preserve the affordability of developments that would otherwise see significant increases in rent with the expiration of the property’s affordability compliance requirements. 

We have decades of experience preserving and creating affordable housing with the aid of the federal Low Income Housing Tax Credit (LIHTC) program, and we possess nationally recognized expertise with the 4% LIHTC credit. But don’t take our word for it —here’s what the senior Senator from our home state of Illinois, Dick Durbin, had to say about us.