Our Services
Impact is focused on development and redevelopment of apartments that are positioned to take advantage of various affordable housing programs. Impact possesses adequate predevelopment funds, a significant balance sheet, and is highly experienced. Although there is much flexibility in how each individual transaction is structured, Impact’s role breaks down into three distinct categories:
1. Predevelopment
Predevelopment involves identifying and obtaining site control of suitable development opportunities. A typical development plan will involve the use of first lien debt, subordinate debt, mezzanine debt, conventional equity, bridge finances, and tax credit equity. Impact is involved in both ground up development and redevelopment of existing apartments. In many projects, existing apartments have HUD rent subsidy and may be at risk of converting from affordable housing to market rate housing. The pre-acquisition work will also often involve obtaining HUD consent and other government approvals for tax-exempt bonds and federal Low-Income Housing tax credits.
2. Development
After acquisitions, Impact monitors and directs construction. Impact is proud to partner with Highland Property Construction, Inc.. This involves making construction related decisions and attending draw meetings. The company is also involved in working with its investors and lenders to ensure a smooth flow of funds. Through lease -up and stabilization, Impact converts properties into their permanent financing stage. Impact is intensely proud to provide sustainable affordable housing in locations with quantifiable needs and demand.
3. Stabilization
Impact provides the asset management for its stabilized operating apartments. Impact oversees lender, investor, and governmental compliance reporting. Asset management also involves oversight of the property manager and maintenance personnel, payment of certain fees and distribution of net revenues. This involves a fair amount of trouble shooting depending on particular project and resident needs.
