A prominent affordable housing developer has rebranded as Pivotal Housing Partners.
The new name replaces MVAH Partners, which was established by Brian McGeady and Michael Riechman in 2018. The managing partners will continue to lead the Ohio-based company.
“We wanted a name that better represented the spirit and mission of our organization,” says McGeady. “We believe that we are pivotal in the lives of our residents, meaning that if we can provide them with a high-quality affordable place to live, then they can have peace of mind about that part of their lives and focus on other areas.”
The change to Pivotal Housing Partners also helps to distinguish the firm, which initially spun out of the affordable housing assets of Miller-Valentine Group. However, there’s no longer any affiliation.
The firm will continue its focus on developing and owning affordable housing. As an owner, Pivotal is approaching 10,000 units, and the firm operates in 14 states, with plans to increase its footprint.
The team is strategically looking at moving into western New York as well as growing its presence in the Southeast market, including South Carolina and Tennessee, according to Riechman.
The firm recently ranked No. 11 on the AHF 50 list of affordable housing developers after starting construction on 1,096 affordable housing units in eight developments last year.
Its new projects include the 226-unit K Avenue Lofts in Plano, Texas. Located adjacent to the Parker Road Dart commuter rail station, the development will bring a mix of 179 affordable and 47 market-rate units to the desirable Dallas suburb. Financing partners include KeyBank Community Development Lending and Investment
The project, which is being built in partnership with the Plano Housing Authority and Auxano Development, will offer one-, two-, and three-bedroom apartments. In addition to being next to the rail station, the development will incorporate of a ride-share lane/turnaround targeted for Uber, Lyft, and food-delivery services.
The project is scheduled to be completed next August.