REP recognizes that just as mankind cannot survive on bread alone, healthy neighborhoods cannot thrive on housing alone. REP’s principals have established a strong record of accomplishment of assisting municipal officials, housing developers and neighborhood leaders to develop innovative financing strategies to attract much needed goods and services such as grocery stores, health care facilities and bank branches to ensure that their residential projects and neighborhoods become “Communities of Choice” rather than mere collections of housing units. Successful projects include:
- Assisting the nonprofit development affiliate of an urban housing authority to develop a mixed use project that brings 35,000 sq. ft. of commercial space targeted for a green grocer, credit union and geriatric health care facility as well as 100 units of quality workforce housing to an inner city low income neighborhood in a rust belt city. The $21.0 million project was the first mixed use real estate project in the country to be financed with the combination of HUD public housing capital funds and NMTC.
- Assisting a national supermarket chain to significantly expand its presence in low-income neighborhoods. We assisted the chain to replace a small functionally obsolete store in an inner city Midwestern community with a new “state of the art” 57,000 sq. ft store. We also assisted the chain to finance the development of a new 70,000 sq. ft. store in a low income community in a Sunbelt city.
- Developing a financing package to ensure the successful development of a 26,500 sq. ft. health care clinic in a distressed community in rural Appalachia. The $7.0 million project tripled the number of health care professionals serving the low income community.