Affordable Housing Finance

SPECIAL FOCUS

The AHF 50

NO. 19: Affordable Housing Developer

Carlisle Development Group, LLC

AFFORDABLE HOUSING FINANCE • April/May 2010

BY DONNA KIMURA

Carlisle Development Group is one of the most active developers in Florida.

The firm hopes to close on the financing and break ground on 14 projects totaling more than $280 million in development costs this year. The transactions include four transit-oriented developments in Miami-Dade County and five green projects that will receive Leadership in Energy and Environmental Design certification.

Carlisle also plans to break ground on Northwest Gardens, the first phase of a $100 million redevelopment with the Housing Authority of the City of Fort Lauderdale.

Jointventuring with housing authorities and nonprofit organizations is one of Carlisle’s special areas of focus. Led by CEO Matthew Greer, the company also cites green building and urban infill redevelopment as strengths.

In 2009, Carlisle completed 10 low-income housing tax credit projects with nearly 1,000 units and started four projects with nearly 300 units.

The firm has been able to execute at a time when reliable financing has been a big challenge for many affordable housing developers.

Carlisle leaders say they develop in areas of high demand for affordable housing. Although low-income housing tax credit and lending appetites aren’t as strong as a few years ago, the firm has been able to still find financing.