Clients & Success Stories

We offer a few success stories of our client and own developments highlighting HO&C’s core areas of expertise:

• HO&C is serving as the financial advisor to a private developer of a proposed $500 million, mixed-use development, which is projected to include a mix of rental and homeownership units, a neighborhood retail center anchored by a high end grocer, and some office and community space. The project is at the site plan stage and the team has been conducting community meetings to hear the local resident’s opinions and concerns and to try to incorporate appropriate solutions and design principals into the proposed plan. HO&C is providing advice on housing, retail leasing and other matters related to livability as well as the economic feasibility analysis for the overall project.

• HO&C is serving as financial advisor to a non profit organization developing a mixed use project adjacent to a transit station in the Washington metropolitan area. Preliminary plans are to develop a mixed use complex that will include affordable housing, office, retail and public community space. In addition, the developer proposes a significant amount of community/cultural space, including work space and administrative offices for non profits and theatrical organizations. The developer is attempting to create a new economic and cultural focus for this urban neighborhood. In addition to housing advisory services and retail leasing HO&C is performing the economic feasibility analysis for this property.

• HO&C is serving as Real Estate Development Consultant to Alexandria Housing Development Corporation (AHDC), a non-profit organization established and funded by the City of Alexandria as a developer and owner of affordable housing. An initial assignment is to assist AHDC secure financing to develop The Station at Potomac Yard, a class A rental property with sixty-four (64) units of affordable and workforce housing above a fire station and retail at the center of a 165 acre mixed-use development. Forty-four (44) residences will be tax credit units for households earning at or below 60% AMI. The remaining 20 units will be workforce housing for those earning up to 80% AMI. HO&C completed an economic feasibility study and developed a successful 9% tax credit application that garnered $9.8 million dollars of equity for the development. HO&C worked with Virginia Housing Development Authority (VHDA) to obtain construction and permanent financing at a blended 5.5% interest rate. HO&C will also manage the loan and equity closings, tax credit compliance and other development related tasks for our client. Construction starts in January 2008.

• HO&C is Development Consultant to the Suffolk Redevelopment and Housing Authority (SRHA) for the Parker Riddick/Cypress Manor Area Master Plan and Rehabilitation Project. SRHA has plans to modernize and/or develop new housing at two public housing communities comprised of 206 units of family housing. Adjacent properties offer the potential for a master planned mixed-income housing and mixed-use retail and commercial uses. HO&C is supporting a market study and master plan and will identify and help secure financing (public and private) that best meets the redevelopment objectives for the neighborhood.

• HO&C is serving as Development Consultant for the Wicomico County Housing Authority (“WCHA”) in the Salisbury, Maryland metropolitan area in the redevelopment of an existing 100 unit, ten acre site. HO&C’s first task was to obtain predevelopment funds working with the county, city and state on behalf of the WCHA. HO&C successfully competed for predevelopment funds from the Maryland Affordable Housing Trust. The plan is to build housing that will be mixed-income and mixed-finance providing public housing, tax credit and market rate residences in an elevator building(s) with a community room and other amenities. HO&C will work with the WCHA Board, HUD, the city and county, on the procurement of an architect and engineers to develop a site plan, design the building and obtain approvals. HO&C will secure project financing from the State of Maryland, conventional lenders, HUD and other sources and will serve as the owner’s representative to manage the construction phase of the project.

• HO&C is development consultant and construction manager for a $3.8 million, 51 bed transitional housing facility for homeless men with substance abuse or mental illness located in Rockville, Maryland. The building will also provide offices for the Montgomery County Coalition for the Homeless. The project starts construction in February 2008. HO&C is providing predevelopment and construction management oversight of the architect and engineers, general contractor and other professionals.