Allegheny Housing Group
providers of affordable housing
Providers of Affordable Housing
to increase the supply of quality affordable housing for low- and very low-income households by: improving the quality and long-term affordability of the existing housing stock; constructing new housing utilizing existing programs available through local, state and federal programs; and creating new housing from adaptive reuse of non-residential properties such as warehouses, outmoded commercial buildings and non-performing commercial hotels
Allegheny Housing Group implements this philosophy by acting in a variety of capacities to provide or assist in providing such housing. The programs which Allegheny Housing Group provides include: Acting directly as a developer of low-income housing to expand and preserve long term, quality affordable housing stock Serving as a capacity builder, seeking to increase the resources and capabilities of local community organizations to increase the available affordable housing Providing technical assistance to other organizations for the implementation of improvement projects or community service programs located within the housing developments in which the Allegheny Housing Group is involved Acting as a joint venture partner to a for-profit housing developer in need of Allegheny Housing Group's expertise and access to capital
Allegheny Housing Group is an organization which can make housing happen within reasonable time periods. Too often, not-for-profit organizations have goals which are not clearly focused enough or lack the requisite expertise to carry out their mission of delivering affordable housing to a community. Allegheny Housing Group and its officers and directors bring an extensive background and experience in the area of affordable housing to bear on the complex problems surrounding the planning and implementation of providing adequate low-income housing to communities. It has the resources and the knowledge to use such resources to make quality low-income housing available to communities within the shortest possible time frames consistent with the creating of quality communities. It has the ability to source, secure, receive and administer funds from public or private sources. Securing such financing is fundamental to the success of any project and is an area in which Allegheny Housing Group has considerable expertise. The development of successful housing communities in today's marketplace demands the integration of public and private sources of capital in order to provide for the long-term viability of the communities being created. Allegheny Housing Group understands this need and provides for its projects and to other organizations similarly engaged, the knowledge necessary to access public grants, public below market interest rate loans, private construction and permanent financing, equity capital and various forms of tax credits and property tax abatements. Allegheny Housing Group is familiar with, and, through its staff and directors, provides the knowledge and experience to effectively respond to the political realities facing the development of affordable housing. It can meet with local government bodies, explain the needs of the community, respond to concerns which are raised and to work with local organizations and politicians to achieve the common goal of increasing quality housing available for low-income residents. Its familiarity and extensive background in the management of affordable housing, tax credit projects and otherwise rent restricted units can mean the difference between success and failure of a project. Architectural aesthetics, housing liveability, proximity to services, local weather and climate, attributes of the tenant populations being served, staffing, competition, financial reporting, community programs and other factors are all important to secure the on-going success of any rental community and Allegheny Housing Group understands this and can provide the guidance for less experienced for-profit or not-for-profit organizations required to ensure a successful project.
Allegheny Housing Group, through the backgrounds and extensive experience of its officers and directors, has the required development expertise to conceive a project and to see it through the often complex and convoluted development process. The officers and directors, during their careers, have assisted others in all aspects of the development for over 100 properties, many of which were for low-income tenants and which were financed through the Farmer's Home Administration (Section 515 program), the U.S. Department of Housing and Urban Development (Sections 221(d)(3), 221(d)(4), 236), state housing agency programs, and the current tax credit program authorized under Section 42 of the Internal Revenue Code. Many of the projects also received rental assistance funds, project based or voucher Section 8 subsidies, or had units that were rent restricted and required tenant incomes to be verified. Direct supervisory experience of the directors and staff of Allegheny Housing Group which relates to the development process includes Site Selection Construction Market FeasibilityProperty Management Project Design Asset Management Permit Process Securing Equity Securing Tax Credits Compliance Monitoring Securing Grants Income Certification Securing Loans Joint Ventures Bond Financing Limited Partnerships
Perhaps more than any other aspect of the housing process, the ability to provide top management expertise can make the difference between the success and failure of a project. Allegheny Housing Group has the required property management, asset management, project management and financial management expertise to help bring about the initial and long-term success of a project. Property Management The combined experience of the officers, directors and staff of the organization includes the direct supervision of the property management process for a wide variety of residential real estate communities including those created through the Farmer's Home Administration (Section 515 program), the U.S. Department of Housing and Urban Development (Sections 221(d)(3), 221(d)(4), 236), state housing agency programs, the low-income housing tax credit program and conventionally financed apartments. This experience includes the selection and monitoring of resident managers, dealing with tenant concerns and problems, project operation and maintenance, governmental reporting and compliance, legal issues, budgeting, rent-up, rental increases or decreases, minority contracting, special needs of specific tenant groups served by projects (such as large families, physically disadvantaged persons and senior citizens). Asset Management In today's world, and particularly for long term real estate projects, the management of the asset is a key concern. Allegheny Housing Group is familiar with the variety of ownership structures and required reporting requirements for joint ventures, limited partnerships, general partnerships, corporations and limited liability companies. It also has extensive experience in securing adequate insurance for properties, dealing with inevitable fire loss and liability claims and in monitoring the level and adequacy of replacement reserves for a project and the disbursement of such funds to keep the project in a good level of repair. Project Management Successfully coordinating the activities of the architect, contractor, government agencies, lenders and owners can make the difference between a successful project or one that fails. Achieving a harmonious union of efforts of these participants in the development process demand the level of skill possessed by Allegheny Housing Group. Its officers, directors and staff have assisted companies and individuals in this process for over 20 projects during the past 20 years. Financial Management Financing Management of the funding process for a project can be a complex task. Often an affordable housing project will need several different sources of funds such as construction financing, permanent financing, so-called soft second mortgages or other below market interest rate debt secured from public agencies, bond financing and equity. Each of these sources of funds usually comes from a different source each of which has its separate and distinct requirements, application procedures and funding time frames. Allegheny Housing Group is familiar with each of these sources and how they interact to provide the required money required to construct or rehabilitate structures to provide housing. The organization provides, either itself, or through its advisors and consultants, access to such capital and the ability to deliver it in a timely fashion to a project to make it successful. Reporting and Insurance After the successful completion of the construction and rent-up of a project, the on-going financial reporting requirements can be equally as daunting. Allegheny Housing Group provides the expertise for its own projects and for other organizations on a consultation basis to engage and coordinate annual financial audits and tax returns. In addition, it can provide valuable assistance in securing adequate fire and liability insurance and in dealing with claims arising from accidents or fire damage to property.
Allegheny Housing Group is supported in its efforts to provide quality affordable housing by several sources of funding. These include grants from public agencies, private contributions and fees for services rendered to projects and their sponsors. The organization assists profit and not-for-profit housing sponsors in the development and management of their projects and develops projects by itself. It receives compensation for such services and development activities which it uses to pay for its staff and those rendering services to it. Allegheny Housing Group uses some of this money to assist others in the complicated housing process by making grants, donations, and below market loans to other organizations with similar goals and objectives.
Officers and Directors
M. Miller, President M. Belter, Controller J. Wysocka, Chairman of the Board M. Cox, Director R. Quimby, Director
This page was last updated on: October 19, 2016