Real Estate Development
The Real Estate Development department is charged with improving the public housing portfolio by employing a number of strategies including: repositioning assets, acquisitions, comprehensive rehabilitation and new development. The ultimate goal is to maintain and create viable, sustainable properties that physically, socially and economically integrate with the overall fabric of communities in the City of Montgomery with an emphasis on improving the quality of life for its residents.
The availability of resources is constantly changing requiring MHA to identify and utilize a combination of public and private partnerships with other public entities and the private sector. Through these partnerships, MHA is able to leverage its resources needed to raise equity to finance new development.
The Plaza at Centennial Hill is MHA’s first affordable housing community utilizing a mixed-finance model. The property was financed using low income housing tax credits, capital funds, a Federal Home Loan Bank grant, Community Development Block Grant and sales proceeds.
The staff assigned to the Real Estate Development department performs a variety of functions including strategic and urban planning, project management, coordinating transactions relating to acquisition or the disposition of property, policy development, grant preparation, financial management of real estate transactions, grants management, oversight of contractors/developers/consultants, Agency Plan preparation and establishing new public/private collaborations to raise equity for projects.
For more information about our projects please follow these links: