Monarch Private Capital, a nationally recognized impact investment firm specializing in the development, financing, and management of projects generating federal and state tax credits, proudly announces the appointment of Walter L. McLeod as Managing Director of Monarch Strategic Ventures. With over two decades of executive experience in business development, strategy, and government relations within the energy and environment sectors, Walter brings unparalleled expertise and leadership to Monarch.
The Inflation Reduction Act (IRA) holds profound implications for the realms of affordable housing, the Low-Income Housing Tax Credit (LIHTC), and renewable energy sectors. This landmark legislation signifies a historic commitment to clean energy investment, offering an array of tax incentives, loans, and grants aimed at fostering the development of clean energy assets. These assets encompass a diverse range, including residential solar, battery storage, smart thermostats, and electric vehicle (EV) charging infrastructure. Under the visionary leadership of Walter, Monarch Strategic Ventures was conceived with the explicit purpose of “forging dynamic connections between clean energy, affordable housing, and grid modernization.”
“I am thrilled to join Monarch Private Capital and lead Monarch Strategic Ventures. Monarch’s stellar reputation and expertise in affordable housing and renewable energy align perfectly with my passion for positive change in these critical sectors,” said Walter. “I look forward to leveraging our collective strengths to make a lasting impact on communities across the nation.”
Walter is the Founder and Managing Director of Eco Capitol Energy, a prominent cleantech holding company with multiple subsidiaries and solar projects across the seven-state Mid-Atlantic Region. His successful co-development of several high-profile utility-scale solar projects, collectively exceeding 700 megawatts, and valued at over $850 million, underscore his proven track record in the industry.
Furthermore, Walter serves as a Professor of Practice at George Mason University, where he established the Mason Energy Initiative and the Electric Vehicle Roundtable. His contributions to electric vehicle mobility have garnered recognition from industry giants, including Dominion Energy, Xcel Energy, Deutsche Bank, Daimler, Tesla, Volkswagen, EVgo, ChargePoint, Lyft, and Uber.
“Walter’s extensive experience and reputation make him the ideal person to lead this venture,” stated Robin Delmer, Partner and Co-CEO of Monarch Private Capital. “His appointment as Managing Director of Monarch Strategic Ventures underscores our commitment to driving impactful investments in the affordable housing and renewable energy sectors.”
Walter is also a distinguished author, known for his widely read book, “The Carbon Creed,” published and distributed by New Degree Press. He earned his BA in chemistry from the Virginia Polytechnic Institute and State University, an MS in chemistry from the College of Science at George Mason University and completed the Executive Education Program at the Tuck School of Business at Dartmouth College.
For more information on Monarch Strategic Ventures, please contact Walter L. McLeod. For inquiries regarding Monarch Private Capital, please contact Robin Delmer.
Don’t miss the opportunity to meet Walter L. McLeod and get a signed copy of his book, “The Carbon Creed,” at the book signing event on February 20th at SEIA headquarters in Washington, DC. Click here for more information and to RSVP.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.
About Monarch Strategic Ventures
Monarch Strategic Ventures was founded with a clear mission: to capitalize on the deployment of IRA clean energy incentives and investments within the affordable housing sector. At its core, the company is forging connections between clean energy, affordable housing, and grid transformation, serving as a catalyst for progress in these vital areas. Acting as a conduit for capital deployment and tax credit allocation, Monarch Strategic Ventures leverages the resources of Monarch Private Capital’s funds and other financial channels. By strategically investing in cleantech projects, the company maximizes the efficient allocation of public and private funds across multiple projects, ensuring a broader impact on communities.
Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for the new construction of a $73 million affordable housing development called Willoughby Corner Family Apartments in Lafayette, Colorado.
The Willoughby Corner Family Apartments are located at the southwest corner of North 120th Street and East Emma Street, on approximately 24 acres. Willoughby Corner is situated about 20 minutes from the City of Boulder and 30 minutes from Denver International Airport. Boulder, known for its vibrant arts scene, boasts more than 30 art galleries and has been recognized as one of the nation’s top cities for art by American Style magazine. The project is comprised of 400 units in total. The first phase, currently under construction, will deliver 192 rental units serving individuals with incomes between 30 and 60% of the Area Median Income (AMI), including 63 apartments to residents aged 55 and older. Future phases will include additional rental units as well as permanently affordable for-sale homes for qualifying families and individuals. Monarch partnered with Boulder County Housing Authority to develop this project, which is expected to open its first doors in the fall of 2024.
“We are thrilled to partner with Monarch to bring much-needed affordable housing to the beautiful City of Lafayette and serve a diversity of income levels. We are proud to be leaders in sustainability in the affordable housing space – upon completion, Willoughby Corner will be the largest net-zero ready neighborhood in Colorado,” stated Norrie Boyd, Housing Development Director at Boulder County Housing Authority.
By effectively addressing Colorado’s pressing issue of affordable housing, Willoughby Corner provides a solution for the community’s housing needs and offers a significant economic boost to the local economy. Based on estimations from the National Association of Home Builders (NAHB) report, the project is expected to create over 200 jobs and generate over $15 million in local income in the first year alone.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.
About Boulder County Housing Authority
BCHA’s mission is to foster the availability of quality, affordable housing and related services for Boulder County residents using comprehensive community resources. BCHA strives to accomplish its mission through community collaboration, effective services and programs, professional organization, efficient resource management, and expansion of funding sources. BCHA was formed in 1975 to serve the unmet housing needs of Boulder County residents. Through its Housing Authority (BCHA), Boulder County provides rental assistance and homes to benefit its most vulnerable residents. More than 800 housing vouchers, providing a rental subsidy, are distributed throughout the County to residents with low incomes. With a portfolio of over 900 homes and serving a diverse mix of household sizes and needs, BCHA strives to ensure that its properties remain affordable, well-maintained, safe for residents, energy-efficient, aesthetically pleasing, financially feasible, and contribute to increased neighborhood property values. BCHA’s stewardship is critical as market rents continue to rise, opportunities for new development construction become less available and more costly, and federal funding programs are slated for drastic cuts.
New Rising Sun Apartments will create quality affordable housing for families in Oklahoma City
Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for the new construction of a $36 million affordable housing development called Rising Sun Apartments in Oklahoma City, Oklahoma.
The Rising Sun Apartments is located at 1315 South MacArthur Boulevard and comprises 204 permanent affordable housing units. Monarch partnered with DLP Development, LLC to develop this project, which is expected to be completed in July 2024. Fifty percent of the construction for Rising Sun will be produced in a new modular housing facility based in Oklahoma City called The House Factory. Pre-constructed second-floor modules will be craned into place reducing the overall build time of the development by 20%.
By effectively addressing Oklahoma’s pressing issue of affordable housing, the Rising Sun Apartments not only provide a solution for the community’s housing needs but also offer a significant economic boost to the local economy. Based on estimations from the National Association of Home Builders (NAHB) report, the project is expected to create over 300 jobs and generate over $23 million in local income in the first year alone.
“We are really excited to partner with Monarch on our Rising Sun development. Not only is their capital making this deal possible, but their extensive expertise in the affordable housing industry is helping us shape past and future developments in Oklahoma,” stated Lance Windel, CEO of DLP Development, LLC.
“Increased access to affordable housing is crucial for creating a thriving community and improving the quality of life for local residents,” stated Brent Barringer, Partner, Managing Director of LIHTC. “We’re thrilled to partner with DLP Development on high-quality affordable homes that will have a lasting, positive impact on Oklahoma City.”
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.
About DLP Development, LLC (DLP)
DLP Development, LLC (DLP) is a full-service residential developer specializing in affordable housing in the State of Oklahoma. DLP Has in -house development, construction, supply chain, and property management. Denton Parker and Lance Windel are the Principals of DLP and both have extensive experience in the construction industry. Lance Windel, as a developer, has been awarded over 18 Affordable Housing Tax Credit (AHTC) developments consisting of more than 1000 units since 2009. Denton Parker began working with independent developers in Kansas City, Missouri in 2012. In this Crossroads district, an effort included over 15 projects. Lance Windel and Denton Parker formed DLP Development, LLC in September of 2021.
Rehabilitation of Pembrook Apartments and West End Manor creates quality affordable housing for rural families in Pamplico and Union
Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for the $6 million rehabilitation of two affordable housing developments called Pembrook Apartments and West End Manor.
Pembrook Apartments are located on approximately three acres at 464 East Sixth Avenue in Pamplico. This project comprises 24 total units, eight of which are one-bedroom and 16 of which are two-bedrooms. While Pamplico is a relatively small community, it has a rich history and is known for agriculture, historic preservation and outdoor recreation. West End Manor is located at 629 Rice Avenue Extension in Union on approximately 4 acres. This project comprises 28 total units, all of which are one-bedroom. Union is known for its Revolutionary War history, textile heritage, recreational landscapes and historic architecture. Monarch partnered with CAHEC Development, LLC to develop both projects, which are expected to be completed in December 2023.
Affordable housing plays a crucial role in building community resilience in rural areas. Investing in affordable housing is an investment in the long-term viability and prosperity of rural communities, ultimately benefiting both individuals and the community. Based on estimations from the National Association of Home Builders (NAHB) report, the projects are expected to create more than 80 jobs and generate approximately $6 million in local income in the first year alone.
“The continuing effort to maintain an adequate supply of affordable housing is most effective through professional collaboration of like-minded partners. Monarch Private Capital, with their dedication to addressing this housing need, is such a partner. CAHEC looks forward to continuing its work with Monarch and finalizing the recapitalization of these properties” stated George Baker, Vice President of CAHEC Properties Corporation.
“We deeply value our collaboration with CAHEC in addressing the demand for quality family housing that residents can afford and take pride in calling home,” stated Brent Barringer, Partner and Managing Director of LIHTC at Monarch.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.
About CAHEC Development, LLC
CAHEC Development, LLC, is the development entity for CAHEC Properties Corporation. CPC is a non-profit property owner in the Southeast and was established in 2020 after CAHEC purchased the assets of WWJ, LLC. – one of the largest owners of multifamily Rural Development properties in the nation. Currently, CPC is the managing partner in over 230 affordable housing properties.
The new multifamily rental community provides quality homes and supports continued growth in Spartanburg
Monarch Private Capital, a nationally recognized ESG investment firm that develops, finances and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for a $23 million affordable housing development called Bridge Creek Pointe in Spartanburg County, Spartanburg, South Carolina.
Bridge Creek Pointe will be located on the south side of Oak Forest Road’s intersection with Reidville Road in southwest Spartanburg, South Carolina. The property will offer a new and attractive garden-style multifamily rental community to households earning at or below 60 percent of the Area Median Income (AMI). Bridge Creek Pointe will consist of three buildings comprised of 90 one, two and three-bedroom units featuring fully equipped kitchens and washer/dryer connections. Common amenities will include a community room, fitness center, courtyard, laundry facilities, playground and business center. Monarch partnered with Prestwick Development Company to complete the project, which is expected to be available for rent in April 2024.
“Bridge Creek Pointe fulfills our mission by providing high-quality, affordable housing in a community with an enormous need for more housing. We are grateful to our partners at South Carolina Housing, the City of Spartanburg, and Monarch for helping us deliver this community,” said Edrick Harris, Partner and EVP with Prestwick Development.
Spartanburg is located in the Upstate region of South Carolina along Interstate 85, about 25 miles east of Greenville. The City is among the top 10 places to live and work in the Nation, according to a 2022 analysis of 155 U.S. cities and metro areas.[1] Named South Carolina’s second Downtown Cultural District, Spartanburg is a key arts and entertainment destination for residents and visitors alike. Spartanburg County is home to seven colleges and universities, over 150 art studios, 200 miles of walking, biking and water trails, and nearly 2,000 events and festivals each year. The County has a diverse economy comprising a sizeable industrial sector of Fortune 500 companies, including BMW Manufacturing, Milliken, Michelin, adidas and many more. Ranking eighth in millennial population growth for small metros nationwide,[2] Spartanburg continues to grow from its quaint beginnings to a lively and thriving community.
In addition to addressing South Carolina’s critical shortage of affordable housing units, Bridge Creek Pointe will have a significant impact on the local economy. Based on estimations from a National Association of Home Builders (NAHB) report, the project is expected to create roughly 145 jobs and generate more than $10.5 million in local income in the first year alone.
“Spartanburg’s significant growth and ongoing development further underscore the need for more affordable housing options in the City,” said Brent Barringer, Partner & Managing Director LIHTC. “Bridge Creek Pointe, through collaboration with Prestwick Companies, will provide quality rental units to residents without overwhelming their monthly spending budgets, allowing them the chance to grow with their community.”
For more information on Monarch Private Capital and ESG tax equity investing, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the U.S.
About Prestwick Companies
Based in Atlanta, GA, Prestwick Development creates communities that inspire and serve residents and neighborhoods. Established in 2008, Prestwick’s exceptional reputation is the result of its vision for new urbanist ideas and high-profile developments that are changing the face of urban and suburban landscapes throughout the South. The Company is led by an experienced team with a diverse background in development, construction, city government and community outreach.
[1] Korolevich, Sara. “2022’s Most Affordable Places to Live in the US.” GoodHire, GoodHire, 27 Sept. 2022, https://www.goodhire.com/resources/articles/americas-most-affordable-places/#americas-most-least-affordable-cities-in-x.
[2] “The Right Space.” Spartanburg Downtown, 30 Jan. 2020, https://www.spartanburgdowntown.com/right-space/.
The new development adds quality homes, jobs and income to the Yukon community
Monarch Private Capital, a nationally recognized ESG investment firm that develops, finances and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for a $30 million affordable housing development called the Cornerstone Apartments in Yukon, Oklahoma.
The Cornerstone Apartments are located at Czech Hall Road and Market Place Road in Yukon, Oklahoma’s Canadian County. The property site is part of the Market at Czech Hall, a $50 million retail development comprised of 180,000 square feet of retail space and seven additional plots of land. The new development will consist of three 3-story buildings comprised of 122 one, two and three-bedroom units available for households earning at or below 60 percent of the Area Median Income (AMI). A community room, business center, picnic area and playground will be shared by residents. Each unit will feature fully equipped kitchens, washers and dryers, and a patio or balcony. Monarch partnered with Cornerstone Housing Group, LLC, to complete the project, which is expected to be available for rent in 2023.
“Cornerstone Housing Group, LLC (CHG) has been working on the development of the project since 2018, with construction costs increasing annually,” said Cornerstone’s President Bobbi Jo Lucas. “Through the Oklahoma Housing Finance Agency, we were able to obtain both Federal Low Income Housing Tax Credits and Oklahoma State Tax Credits to help finance the project. The recent commercial growth in and around the area makes this site a prime location for families to be able to walk to most major amenities, including grocery, banking, retail and dining. With all the new developments happening, we are thrilled to finally bring this much-needed attainable housing to fruition.”
Established in 1891 at the juncture of Route 66 and the Chisolm Trail, Yukon, Oklahoma, is a town rich with history and culture. Known as the Czech Capital of Oklahoma, many Bohemian immigrants – later named Czechoslovakian after the country’s dissolution – moved to the City following the introduction of its first railway. Yukon celebrates its Czech heritage with a large Czech mural, dance hall and a history room at its local museum. Additionally, the Oklahoma Czech Festival offers the largest free outdoor festival in the state. Yukon was named Best Affordable Suburb by Business Week Magazine, offering diverse dining, retail and entertainment amenities for any budget.
In addition to addressing Oklahoma’s critical shortage of affordable housing units, the Cornerstone Apartments will have a significant impact on the local economy. Based on estimations from a National Association of Home Builders (NAHB) report, the project is expected to create nearly 200 jobs and generate more than $14 million in local income in the first year alone.
“Monarch is committed to providing affordable housing in Oklahoma,” said Steve LeClere, Partner, LIHTC at Monarch. “We appreciate our collaboration with Cornerstone Housing Group to help satisfy the growing need for quality rental communities that Yukon residents can afford and be proud to call home.”
For more information on Monarch Private Capital and ESG tax equity investing, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the U.S.
About Cornerstone Housing Group, LLC
Cornerstone Housing Group (CHG) and its investors have developed 43 projects totaling 2,845 units of LIHTC housing across the Midwest, Southwestern and Mountain states. CHG and its affiliated companies maintain ownership and management of each property within its portfolio. Additionally, CHG has and will continue to offer development consulting services to communities and non-profit organizations that wish to develop and own their own projects.
The new apartment community creates opportunity and supports the city of Central’s continued growth
Monarch Private Capital, a nationally recognized ESG investment firm that develops, finances and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for a $40 million affordable housing development called Gateway at Cross Creek in Central, South Carolina.
The Gateway at Cross Creek apartment community is located on the south side of Cross Creek Road in Pickens County, Central, South Carolina. The new development will consist of seven three-story residential buildings containing 168 affordable housing units with one, two, and three-bedroom floorplans available to households earning at or below 60 percent of the Area Median Income (AMI). The new development will feature a community room, business center, exercise facility, car wash, playground and tennis court. Monarch partnered with Gateway Development Corporation to complete the project, which is expected to be available for rent in 2023.
“This development is a huge source of pride for our team,” said Josh Mandell, President of The Gateway Companies. “We received consistent support from officials with the City of Central, who repeatedly expressed the need for quality-built, affordable housing in the area. Moreover, various officials with the State praised Cross Creek for being one of the first 4% bond/state credit-financed developments to serve a non-metro/non-coastal market.”
Central, South Carolina, is a small railway town incorporated in the 1870s when the Atlantic and Richmond Air Line (later the Southern Railroad) laid a track through Pickens County midway between Atlanta, Georgia and Charlotte, North Carolina. Soon after, it became a depot for repair shops and fueling stations, which they gave the fitting name of “Central Station.” Today, the town is still rich in history, with many of its historic areas and buildings preserved and listed on the National Register of Historic Places. Residents enjoy a wide range of activities, from spending time at local parks to visiting the locally owned shops and restaurants lining its historic Main Street. Central is home to Southern Wesleyan University, and Clemson University and Tri-County Technical College are also nearby.
In addition to addressing the region’s critical shortage of affordable housing units, the Gateway at Cross Creek development will have a significant impact on the local economy. Based on estimations from a National Association of Home Builders (NAHB) report, the project is expected to create approximately 270 jobs and generate nearly $20 million in local income in the first year alone.
“As the first sizeable affordable housing development in the region in over a decade, we are especially excited to bring the Gateway at Cross Creek apartments to the Central community,” said Brent Barringer, Partner & Managing Director of LIHTC at Monarch. “Our collaboration with Gateway Development Corporation and the support of local officials will help improve the lives of Central residents and promote the ongoing growth and development of the City.”
For more information on Monarch Private Capital and ESG tax equity investing, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the U.S.
About Gateway Development Corporation
For nearly 40 years, Gateway Development Corporation and its affiliates (The Gateway Companies) have developed, owned and operated affordable, workforce, conventional and senior multifamily housing communities throughout the Southeast United States. This distinguished length of performance in the industry was built on honoring commitments and ensuring consistent quality. Its team, partners and long-term service providers worked tirelessly to help establish its track record, and today, that track record is one of its greatest assets. Since formation, The Gateway Companies have developed more than 100 communities with over 7,000 housing units across six states.
The new rental community provides quality homes to seniors and supports continued growth in Fairburn
Monarch Private Capital, a nationally recognized ESG investment firm that develops, finances and manages a diversified portfolio of projects that generate both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for a $27 million affordable housing development called Jonesboro Road Senior Village in Fairburn, Georgia.
The Jonesboro Road Senior Village apartment community is located at 3895 Jonesboro Road in Fairburn, Georgia. The new development will consist of 110 one- and two-bedroom units available for senior households ages 62 and older earning at or below 60 percent of the Area Median Income (AMI). The three-story apartment building will feature a covered entry/drop-off area, an elevator lobby, community room with a warming kitchen, library and computer room, and activity space. Unit amenities will include central A/C, fully equipped kitchens with Energy Star appliances and washer and dryer hookups. The property will offer six accessible units and three hearing and visually impaired units. Monarch partnered with Gateway Development Corporation to complete the project, which is expected to be available for rent in 2023.
Jonesboro Road Senior Village is located in Fairburn, Georgia, a closely linked suburb of Atlanta offering a charming hometown feel and an increasing array of community resources, living and business opportunities. Upholding its slogan “Situated to Succeed,” Fairburn also enjoys the advantages of the nearby Atlanta metropolitan area, positioned just under 20 miles from downtown Atlanta and about eight miles from Hartsfield-Jackson International Airport. The City is currently making significant strides in its urban redevelopment plans, supporting economic growth and implementing creative placemaking initiatives to provide both current and future residents with quality, vibrant and versatile communities where they can live, work and play.
In addition to addressing Georgia’s critical shortage of affordable housing units, the Jonesboro Road Senior Village development will have a significant impact on the local economy. Based on estimations from a National Association of Home Builders (NAHB) report, the project is expected to create over 150 jobs and generate more than $12.9 million in local income in the first year alone.
“Increased access to affordable housing is essential to fostering an economically thriving community and elevating local quality of life,” said Brent Barringer, Partner & Managing Director of LIHTC at Monarch. “Through collaboration with Gateway Development Corporation, we’re able to support Fairburn’s redevelopment efforts by providing seniors with clean, comfortable and stable rental homes at an affordable price.”
For more information on Monarch’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages ESG funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the U.S.
About Gateway Development Corporation
For nearly 40 years, Gateway Development Corporation and its affiliates (The Gateway Companies) have developed, owned and operated affordable, workforce, conventional and senior multifamily housing communities throughout the Southeast United States. This distinguished length of performance in the industry was built on honoring commitments and ensuring consistent quality. Its team, partners and long-term service providers worked tirelessly to help establish its track record and today, that track record is one of its greatest assets. Since formation, The Gateway Companies have developed more than 100 communities with over 7,000 housing units, across six states.
Excerpt from KWCH
Authored by Sarah Motter, Digital Producer, KWCH
On Thursday, May 5, Kansas Governor Laura Kelly says she signed House Bill 2237 to help address the state’s housing shortage with investments and incentives for residential development – especially in rural areas.
“By expanding access to quality, affordable housing, communities and businesses can better recruit and retain workers, families, and entrepreneurs in rural Kansas,” Gov. Kelly said. “This bill gives our rural communities more tools to spur economic growth vital to the economy.”
. . .
Specifically, HB 2237 enacts the Kansas affordable housing tax credit act, the Kansas housing investor tax credit act, the historic Kansas act, and the Kansas rural home loan guarantee act. The bill would authorize residential real property appraisals in rural counties to be done without finishing the sales comparison approach to value. This would allow bond proceeds under the Kansas rural housing incentive district act to be used for the development of residential homes and renovations of certain buildings in areas considered economically distressed.
To access the full article, click here.