Development and Construction

 

Developing and Preserving Affordable Housing for Good

National Church Residences provides housing for seniors at a wide array of income levels.  In Ohio and Florida, we have Senior Living communities that require an entry fee and include health care options, such as assisted living and memory care.

We also own and operate other forms of rental Senior Living communities for middle-income seniors who want to live among their peers in a community setting that includes amenities like roll-in showers, underground parking and on-site bistros.  

National Church Residences also is the nation's largest provider of affordable senior housing.  Whether for seniors or others in need, affordable housing requires support from the public, government and business sectors. We apply our 55 years of credentials to initiate, construct, acquire and manage affordable housing and health care communities nationwide.

National Church Residences is proactively engaged in the effort to expand and preserve the nation's dwindling supply of affordable housing stock and actively pursuing individual or multi-site affordable senior and family housing properties of 50 or more units. National Church Residences also considers management contracts in areas where we have an established presence.

Our primary focus markets are Ohio metro areas (such as Columbus, Cleveland, Dayton and Toledo), Atlanta and Detroit.  We also are looking in Pittsburgh, the Sarasota/Tampa corridor, Savannah, St. Louis, the Austin/San Antonio corridor, Dallas, Houston and Newark, NJ. 

Transaction types include:

  • Subsidized (e.g., Section 8 and 236) preservation
  • LIHTC Year 15 preservation
  • USDA rural
  • Market-to-Market Restructures
  • HUD 202 preservation and new construction.

Preliminary Due Diligence information to be provided includes:

  • Previous two years audited financial statement and YTD operating statements
  • Current rent roll and three-year vacancy history (by quarter)
  • Description of site and improvements
  • Description of existing debt
  • Section 8 rent schedule and most recent REAC score, if applicable
  • Asking price

Frequently National Church Residences collaborates and encourages joint endeavors with not-for-profit organizations, for-profit enterprises, community agencies, corporate sponsors and other partnerships to build and preserve the nation's stock of quality affordable housing.

For a list of recently preserved affordable senior and family housing projects or for more information, contact: Matthew Rule, National Church Residences Development Department at  (800) 388-2151 or contact us.

 

 

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