May 2007 Table of Contents

Introducing The AHF 50

With 31,418 units, Michaels Development Co. is the largest owner of affordable housing, and with 1,856 units started in 2006, The NRP Group is the top developer, according to a national survey by Affordable Housing Finance. Read more

Michaels Builds with Strong Partnerships

PHILADELPHIA—Robert Greer still remembers the night police officers asked him to leave his own development meeting. Read more

LIHTC Market Remains Unsettled

The price for low-income housing tax credits continued to drop in the first quarter of 2007, according to several state and local equity funds. Read more

Bond Money on the Way

SACRAMENTO, CA.—The first of the $2.85 billion Proposition 1C bond money is expected to hit the streets this summer.  Read more

Fannie Mae Eyes Seniors For Growth

Led by an increased presence in the seniors housing market, Fannie Mae helped finance $34.3 billion in multifamily rental housing in 2006. Read more

New National Developer Emerges

RANCHO CUCAMONGA, CA.—The name National Community Renaissance (National CORE) may not be that familiar, but the people behind it are. Read more

A Long Journey Ends in Berkeley

BERKELEY, CA.—This is a story about an affordable housing development that endured a costly legal battle and took nearly eight years to build. Read more

Dominium’s Domain

Dominium Group, Inc., knows a thing or two about flexibility.  Read more

The Power of Reinvention

VALDOSTA , GA.—You wouldn’t think a company barely a dozen years old would need to reinvent itself. But Ambling Cos., Inc., has changed directions twice since its founding in 1994.  Read more

Real Development in the GO Zone

Realtex Development was the first company to break ground on a new construction project in the Gulf Opportunity (GO) Zone, according to President Rick Deyoe. Sunset Way Apartments in Port Arthur, Texas, broke ground in July 2006. Read more

From Jailhouse to Supportive Housing

John Fallon spent years trying to help a homeless man whom we’ll call patient R, a paranoid schizophrenic and alcoholic who spent 21 years on the streets, in emergency rooms, and in the jails in and around Chicago. Read more

Calling Pike Place Market Home

SEATTLE—The visitors outside don’t know what’s just around the corner. Read more

A Tale of Two States

We all know that local resistance to the construction of affordable rental family housing is a key factor affecting our industry and the housing opportunities we can provide. Read more

New Name, Game Plan for CharterMac

Longtime affordable housing developers may not recognize the name, but they probably know some of the people behind Centerline Capital Group. Read more

Policy Moves Hit the West

Several important housing policies have been adopted or proposed in the West in the last several months, a sign of the depth of the affordable housing problem across the region. Read more

Mercy’s Wide Reach

DENVER—Mercy Housing has been adding about a thousand units to its portfolio every year for the last five years. Read more

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