Affiliated Developers, Inc.

Affiliated Developers Inc., a non-profit 501 C3 entity, specializing in the development and preservation of affordable housing.

Franklin School Apartments

What We Do

Affiliated Developers, Inc. (ADI) develops, preserves, adaptively re-uses, and builds affordable housing by monetizing government incentives such as the following: Federal and State Low Income Housing Tax Credit ("LIHTC"), Federal and State Historic Tax Credits, HUD HOPE VI funds, Brownfield Tax Credits, Enterprise Zone Tax credits and Rebates, Facade Grants, and Energy Tax Credits, HOME /CDBG and Housing Trust funds.  In addition, ADI uses mostly government backed debt sources that would include HUD 221(d)4 and 223f loans, Fannie Mae / Freddie Mac, USDA 515 & 538 debt.  We have an excellent relationship with the lending, syndication and housing agency communities.  We structure top-notch development teams for areas in which we are developing, outsourcing architectural, engineering, construction (sometimes) and management. 

 Emerald Springs phase 1a and 1b (9/1/2011)

What's New

 Nemont Manor Retirement Residences ("NMRR") (Glasgow Montana)

NMRR consists of 100 1 bed units with a Section 8 Project Based HUD HAP Contract for Seniors (62 & Older) and / or disabled persons.  The capital stack for this project consists of the following:  4% LIHTC ($2.2M), HUD HOME Grant ("492k") and HUD 221d(4) construction / permanent loan conversion debt ("$5.85M).  This is a "preservation" project whereas, ADI will be doing a substantial rehabiliation ($4.M) using many "green" and "energy" initiatives.  This project is scheduled to commence construction in the fall of 2020 with a 12-14 month construction implementation scheudule.  Total Development Costs ("TDC") $8.5M

 Oklahoma Central Region RD Portfolio ("OCRD") (Central Oklahoma)

OCRD consists of 261 units varying from 1 - 4 bedroom units with 11 different locations in central Oklahoma.  All 261 units have an existing USDA 515 assumbable loan ($9.1M) with attached Rental Assistance from Rural Development ("RD").  In addition, the project will have the following capital Stack:  4% LIHTC ($6.5M), USDA 538 construction / permanent loan conversion ($10.4M).  This is a RD scattered site "preservation" project, wheras ADI will be doing a substantial rehabilitation ($10M) using many "green" and "energy"  initiatives.  Construction is scheduled to commence in April / May of 2019  with an implementation schedule of 12 months.  Total Development Costs ("TDC") $30m.

Oakwood Village Apartments ("OVA") (Havre, MT)

OVA consists of 60 2 & 3 bedroom units with a 100% Project Based Section 8 HAP constract for families.  ADI received a 9% LIHTC reservation from the Montana Board of Housing ("MBOH") in November of 2018.  In addition, this project will have $2.6m in Coal Trust Fund debt from the Montana Departmet of Commerce. An acquisition / construction loan from Rural Community Assistance Corporation ("RCAC").  Finally, $1.2M from the HUD Housing Trust funds issued by the Montana Department of Commerce ("MDOC").  The total construction contract will be approximately $3.9M.  Construction is scheduled to commence in April of 2020 with a 12 month implentation schedule.  Total Development Costs ("TDC") $7.5m.