Evergreen Partners is a real estate development company specializing in the acquisition, redevelopment, and long-term ownership of affordable rental housing. Established in 2000, the company has successfully acquired and preserved over 5,500 affordable apartments across fourteen states. With offices in Maine, Massachusetts, and Florida, Evergreen Partners focuses on revitalizing properties originally developed under federal programs such as Section 236, 221(d)(3) BMIR, and Section 8 New Construction. Their mission is to provide stable, affordable housing for low-income residents, ensuring long-term affordability and community stability.
Key Strategic Focus
Evergreen Partners' strategic focus centers on the comprehensive redevelopment of affordable housing properties. This involves securing new subsidies, including Low Income Housing Tax Credits, Historic Tax Credits, and Home Funds, to facilitate extensive renovations ranging from system replacements to complete rebuilding. The company aims to extend existing Section 8 contracts to maintain affordability for current and future residents. Their specialization lies in navigating complex financing structures and regulatory requirements to achieve these objectives.
Financials and Funding
While specific financial details are not publicly disclosed, Evergreen Partners has demonstrated a strong financial capacity to structure and implement optimal transaction plans for various properties. Their successful track record in securing debt and equity financing underscores their financial stability and ability to undertake significant redevelopment projects.
Pipeline Development
Evergreen Partners has a portfolio exceeding 35 properties, comprising over 5,500 units in 14 states. Notable properties include Briarcliff Summit Apartments in Atlanta, Georgia; Hudson Terrace Apartments in Hudson, New York; and Sentinel Plaza in Tucson, Arizona. The company continues to seek opportunities for acquiring and redeveloping affordable housing units, with a focus on extending affordability and enhancing community impact.
Technological Platform and Innovation
Evergreen Partners distinguishes itself through its expertise in affordable housing finance and ownership. The company's principals collectively possess over sixty years of experience in the field, enabling them to effectively secure financing, manage construction projects, and meet regulatory requirements. Their approach emphasizes integrity and reliability, fostering long-term relationships with business partners, public officials, and community stakeholders.
Leadership Team
The leadership team at Evergreen Partners comprises seasoned professionals with extensive experience in affordable housing development and finance. Their collective expertise has been instrumental in the company's success in acquiring, redeveloping, and managing affordable housing properties across multiple states.
Competitor Profile
Market Insights and Dynamics: The affordable housing sector is characterized by a growing demand for quality, low-income housing solutions. Market dynamics are influenced by federal and state funding programs, regulatory frameworks, and the need for sustainable redevelopment practices.
Competitor Analysis: Key competitors in the affordable housing development sector include Green Mills, Foundation Housing, Garrison Companies, Hope Housing Foundation, and Tapestry Companies. These organizations focus on similar areas of affordable housing acquisition and redevelopment, each bringing unique approaches and expertise to the market.
Strategic Collaborations and Partnerships
Evergreen Partners has established strong relationships with various stakeholders, including architects, engineers, contractors, debt and equity providers, and joint venture partners. These collaborations have been pivotal in the successful redevelopment of properties and the extension of affordability for residents. The company's integrity and performance have led to repeated partnerships, enhancing their reliability and continued success.
Operational Insights
Evergreen Partners' strategic considerations involve maintaining a singular focus on affordable housing redevelopment, leveraging their financial capacity and industry expertise to navigate complex transactions. Their commitment to community engagement and understanding resident needs sets them apart, ensuring that redevelopment efforts contribute positively to neighborhood stability and growth.
Strategic Opportunities and Future Directions
Looking ahead, Evergreen Partners aims to expand its portfolio by identifying and acquiring additional affordable housing properties in need of redevelopment. Their established track record positions them well to capitalize on opportunities that align with their mission of providing stable, affordable housing. Continued focus on building strong community relationships and securing appropriate funding will be key to their future success.
Contact Information
For more information about Evergreen Partners and their initiatives, please visit their official website.
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