The goal of POAH’s Real Estate Development team is to finance and build high quality housing. The Development Team develops creative and responsive strategies for preserving and building affordable homes, carrying projects from acquisition through financing, renovation/construction and stabilization under new permanent financing. POAH works closely with partners – including current residents, public housing authorities, investors and lenders – to deliver buildings that are financially and physically sustainable for the long run, on-schedule and on-budget.
POAH has extensive experience with renovation of existing, occupied buildings; as well as a deep understanding of the rehab process, and we how to modernize buildings while minimizing disruption to residents. We primarily work on three different types of projects:
New Construction: Building homes that are appropriate for the surrounding neighborhood and community, and built to high standards that integrate conservation and sustainability for the long term.
Community Revitalization: Development has worked on major neighborhood-scale revitalization projects, most notably the Choice Neighborhood Initiative in Chicago. Read about it here.
Acquisition Rehab: POAH is committed to preserving at-risk housing to ensure long-term affordability for current and future residents. The Development team creates a plan for properties threatened with conversion to market rental or luxury housing to be rehabilitated with new 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.