COVER STORY
The Top 50 Affordable Housing Owners
AFFORDABLE HOUSING FINANCE • MAY 2007
| RANK |
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
AFFORDABLE UNITS OWNED (AS OF 1/1/07) |
REGION(S) |
ORGANIZATION TYPE |
41 |
Burbank Housing
John Lowry, executive director |
790 Sonoma Ave.
Santa Rosa, CA 95404
(707) 526-1020
www.burbankhousing.org |
1,954 |
Sonoma County, Calif. |
Nonprofit |
| The majority of Burbank Housing’s units are family rental, and most are for very low income tenants. The organization has a mutual self-help housing program to provide homeownership opportunities to low- and moderate-income first-time buyers. |
42 |
Citizens Housing Corp.
James M. Buckley, president |
26 O’Farrell St., Suite 600
San Francisco, CA 94108
(415) 421-8605
www.citizenshousing.org |
1,937 |
California |
Nonprofit |
| Citizens Housing’s focus includes development of urban infill sites and historic properties. It provides seniors, family, and supportive housing. The firm started construction on four projects representing 350 units in 2006. It achieved a Leadership in Energy and Environmental Design certification for its Folsom Dore Apartments in San Francisco. |
43 |
AHC, Inc.
Catherine Bucknam, director of community relations |
2300 S. Ninth St., Suite 200
Arlington, VA 22204
(703) 486-0626
www.ahcinc.org
|
1,926 |
Northeast, Southeast |
Nonprofit |
| AHC completed construction on a 108-unit development and acquired three properties with 287 units in 2006. The firm expects to begin construction on another new property and acquire several more developments in 2007. |
44 |
Tenderloin Neighborhood Development Corp.
Don S. Falk, executive director
|
201 Eddy St.
San Francisco, CA 94702
(415) 776-2151
www.tndc.org
|
1,783 |
San Francisco |
Nonprofit |
| Tenderloin Neighborhood Development Corp. provides affordable housing and services in San Francisco’s Tenderloin neighborhood. The firm’s focus is extremely low income people. More than 85 percent of its tenants receive some form of public assistance, and across its portfolio, its residents have incomes that average less than $1,000 per month, which in San Francisco is about 20 percent of the AMI. Its recent Curran House development has earned several awards. |
45 |
Stanford Management, LLC
Rosa Scarcelli, president
|
45 Casco St., Suite 100
Portland, ME 04102
(207) 772-3399
|
1,700 |
National |
For-profit |
| The company specializes in Sec. 515 rural deals. It has received 24 Multifamily Housing Preservation and Revitalization Restructuring Program awards from the U.S. Department of Agriculture. |
46 |
The John Stewart Co.
Leticia Marquez, office manager
|
1388 Sutter St., 11th Floor
San Francisco, CA 94109
(415) 345-4400
www.jsco.net
|
1,685 |
California |
For-profit |
| The firm is involved in all types of multifamily rental housing, with an emphasis on mixed-income and affordable housing. In addition to owning 1,685 units, the firm manages 17,410 units for third-party clients. |
47 |
Senior Lifestyle Corp.
Robert Gawronski, vice president of development and acquisitions
|
111 E. Wacker Drive, Suite 2200
Chicago, IL 60601
(312) 673-4333
www.seniorlifestyle.com
|
1,643 |
National |
For-profit |
| Senior Lifestyle Corp. is a leader in the development and operation of seniors housing. With a portfolio of more than 40 communities, the firm offers housing for different economic levels, from luxury to mid-market to affordable. It plans to start three new affordable projects in 2007.
|
48 |
Norstar Development USA, L.P.
Linda L. Goodman, director of project development
|
200 S. Division St.
Buffalo, NY 14204
(716) 847-1098
www.norstarcompanies.com
|
1,639 |
National |
For-profit |
| One of the company’s specialties is the redevelopment of public housing. Norstar has completed the redevelopment of more than 1,200 units of public housing and is working on the redevelopment of more than 1,300 units with four housing authorities. |
49 |
Enterprise Homes
Chickie Grayson, president & CEO
|
312 N. Martin Luther King Jr. Blvd.
Baltimore, MD 21201
(410) 332-7400
www.enterprisehomes.com
|
1,396 |
Northeast, Southeast, South Central |
For-profit |
| Enterprise has developed or has in predevelopment 5,011 units of workforce, affordable, and market-rate housing. Workforce housing, which generally serves households earning from 80 percent to 120 percent of the AMI, is a special focus for Enterprise. In a new move, Enterprise Homes, in partnership with Providence Community Housing, was selected to help rebuild New Orleans by building 1,500 housing units. Enterprise Homes is part of the Enterprise housing and community development organization.
|
50 |
Aslan
Paul Widman, vice president
|
1031 Zorn Ave., Suite 1400
Louisville, KY 40207
(502) 253-3100
www.experienceaslan.com
|
1,300 |
Southeast, Midwest, South Central |
For-profit |
| In 2006, the firm closed and began construction on four tax credit properties in four different states in a five-month period. These properties will provide more than 300 units. A focus for Aslan is single-family homes with lease-purchase options. |
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