Affiliated Developers

Affiliated  Developers, a non-profit group, specializing in the development and preservation of affordable housing for low and moderate income households. 

What We Do

Affiliated  Developers finances projects using Section 42 Housing Credits and grants in partnership with state housing agencies and local housing commissions.  We have an excellent relationship with the lending and syndication communities.  We structure top-notch development teams for areas in which we are developing, outsourcing architectural, engineering, construction and management.

What's New?

WE WERE RECENTLY AWARED $30 MILLION IN HOUSING CREDITS FROM MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY FOR THE EMERALD SPRINGS PROJECT, A PUBLIC HOUSING PARTNERSHIP IN DETROIT. The first two phases of construction are scheduled for completion in May 2012.

WE WERE AWARDED $2.5 MILLION IN ECONOMIC STIMULUS GRANTS FROM THE MONTANA BOARD OF HOUSING FOR OUR $4 MILLION ACQUISTION AND RENOVATION OF THE FRANKLIN SCHOOL APARTMENTS IN GREAT FALLS, MONTANA.  CURRENTLY, the project has been stabilized and permanent financing will be in place in October of 2011.

We are submitting an application with the Michigan State Housing Development Agency for the 4% tax credit in December 2011.  This is an adaptive re-use project whereas, we are converting three vacant schools into affordable housing in Grand Rapids, MI.  We will be using brownfield credits and historic credits on this project.  In total, there will be 104 units and the project will be around 10 million in Total development costs.

We are submitting an application with the Oklahoma Finance agency for the 9% tax credit.  This is a preservation project that consists of 107 units.  We will be assuming a USDA 515 loan and securing a USDA 538 loan.  We will be submitting an application in January of 2012.