COVER STORY
The Top 50 Affordable Housing Developers
AFFORDABLE HOUSING FINANCE • MAY 2007
| RANK |
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
TAX CREDIT & TAX EXEMPT BOND DEALS 2006 UNIT STARTS/ UNIT COMPLETIONS |
REGION(S) |
ORGANIZATION TYPE |
41 |
Payne Development, LLC
Kevin P. Payne, president
|
31920 Del Obispo St., Suite 260
San Juan Capistrano, CA 92675
(949) 542-8700
|
223/183 |
West |
For-profit |
| Payne Development focuses on family and seniors apartments. It started three affordable housing developments with 223 units in 2006 and expects to increase production in 2007 by starting seven projects with 421 units. |
42 |
Peach Properties
Ron Schwabe, president
|
299 S. Park Ave.
Tucson, AZ 85719
(520) 798-3331
www.peachprops.com
|
220/ NA |
West |
For-profit |
| Peach Properties is involved in both new construction and acquisition and rehabilitation deals. The firm expects to start about 300 units in 2007. |
43 |
CDHM Group, LLC
Donald Pace, owner and general partner
|
2137 N. Courtenay Parkway, Suite 23
Merritt Island, FL 32953
(321) 453-3127
|
196/120 |
South Central |
For-profit |
| CDHM Group is a small firm that completed a 120-unit single-family development in Donna, Texas, and started construction on two other developments in Texas in 2006. |
44 |
Pathway Senior Living, LLC
Jerome E. Finis, principal
|
701 Lee St., Suite 450
Des Plaines, IL 60016
(847) 768-5104
www.pathwayseniorliving.com |
177/228 |
Midwest |
For-profit |
| Pathway Senior Living develops and operates housing for seniors. A signature program is its affordable assisted-living facilities. Pathway opened two affordable assisted-living communities in 2006. |
45 |
Senior Lifestyle Corp.
Robert Gawronski, vice president of development
|
111 E. Wacker Drive, Suite 2200
Chicago, IL 60601
(312) 673-4333
www.seniorlifestyle.com
|
175/175 |
National |
For-profit |
| Founded in 1985, Senior Lifestyle Corp. develops and operates housing for seniors at different economic levels. The firm and acquisitions started two affordable housing developments in 2006 and plans to start three more in 2007. A recent project was the adaptive reuse of a historic YMCA building in Joliet, Ill. |
46 |
Domus Development, LLC
Meea Kang, president
|
149 Fell St.
San Francisco, CA 94102
(415) 558-9500
www.domusd.com
|
173/114 |
California |
For-profit |
| Formed in 2003, Domus Development completed two developments in 2006. It plans to start another three in 2007. The firm said it has approximately 10 projects in predevelopment, totaling more than 500 units. Its activities are focused on California. |
47 |
Conifer Realty, LLC
Carol Oster, vice president
|
183 East Main St., Suite 600
Rochester, NY 14604
(585) 324-0500
www.coniferllc.com
|
172/438 |
Midwest, Northeast |
For-profit |
| Formed in 1975, Conifer Realty develops and manages affordable rental and for-sale housing. Its work also includes rehabilitation and preservation projects. It plans to start seven projects in 2007. |
48 |
Downtown Action to Save Housing
Mark E. Thometz, executive director
|
11018 NE 11th St.
Bellevue, WA 98004
(425) 646-9053
|
166/137 |
Washington |
Nonprofit |
| Downtown Action to Save Housing (DASH) started one development in 2006 and plans to start two more in 2007. Its activities are focused in Washington’s King and Snohomish counties. |
49 |
Sermar Management Corp.
Mark Sertl, vice president
|
349 W. Commercial St., Suite 3100
E. Rochester, NY 14445
(585) 248-5490
|
162/162 |
Northeast, Midwest |
For-profit |
| Sermar Management completed one affordable development in 2006 and plans to complete another in 2007. The firm will target western New York state. |
50 |
Wabuck Development Co., Inc.
Garry Watkins, president
|
P.O. Box 556
Leitchfield, KY 42754
(270) 259-5607
|
150/150 |
Southeast |
For-profit |
| Wabuck Development’s area of focus includes tax credit properties, especially seniors housing. |
|
