The goal of POAH’s Real Estate Development team is to finance and build high quality housing. We develop creative, responsive strategies and techniques for preserving and building affordable homes. carrying projects from acquisition through financing, renovation/construction and stabilization under new permanent financing. We work closely with our partners - whether they are current residents; a public housing authority or other public partner; investors and lenders – to deliver buildings which will be financially and physically sustainable for the long run, on schedule and on budget.
We have extensive experience with renovation of existing, occupied buildings, as well as a deep understanding of the rehab process, and we know how to modernize buildings while minimizing disruption to residents. We work primarily on three different types of projects:
1. New Construction - appropriate for the surround neighborhood and built to high standards that integrates conservation and sustainability for the long term;
2. Community Revitalizations – Development has undertaken major neighborhood-scale revitalization projects, most notably the Choice Neighborhood Initiative in Chicago; Read about it here.
3. Acquisition Rehab - POAH often rescues an affordable property threatened with conversion to market rental or luxury housing and develops a plan for its rehabilitation to upgrade systems and structures.
As a high-capacity, mission-driven entity with a long-term commitment, POAH is a natural housing partner for public agencies and other social enterprises. Nearly every POAH project combines multiple public resources for multifamily affordable housing, and our team’s ability to manage complex financing structures and compliance requirements without impacting construction delivery timelines is unparalleled.
We believe in extending our impact by targeting our construction projects to minority- and women-owned businesses to the greatest extent possible, and by working to promote resident construction hiring.
for more info about POAH, watch our 5 minute video