Whether for seniors or others in need, affordable housing requires support from the public, government and business sectors. National Church Residences applies its 50+ years of property development 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.
Primary areas of interest include Ohio, Georgia (Atlanta, Savannah, Macon), the Great Lakes area (Michigan, Illinois, Wisconsin), and Texas (Austin, Dallas, San Antonio, Houston).
National Church Residences also gives active consideration to opportunities in: New Jersey, Upstate New York, Florida, Pennsylvania, Louisiana and Colorado.
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: Joe Hall, National Church Residences Development Department at (614) 273-3720 or contact us.