Real Estate Consulting

Alembic Community Development works with nonprofit organizations to plan, finance and develop affordable and special needs housing and community facilities, including schools and day care and recreational space. While helping our partners to develop projects within the constraints and parameters of particular development sites and financing programs, we encourage them to identify and realize their actual development objectives. We understand that development is difficult, but we believe that this difficulty justifies higher aspirations. Our work includes:

  • Assisting in the identification and recruitment of development team members, including architects, lawyers, engineers, accountants and other project professionals;
  • Preparing, revising and submitting applications for financing to local, State and Federal funding agencies;
  • Preparing, revising and submitting applications to banks and tax credit syndicators;
  • Completing and revising development and operating proformas;
  • Coordinating all predevelopment work including: environmental assessments; schematic design and construction document development;
  • Coordinating funding approvals, including negotiations with tax credit equity investors, banks and government agencies;
  • Coordinating construction loan and equity closings; and
  • Overseeing construction and project management.

Selected Projects

Lucille Bulger Center for Community Life

Lucille Bulger Center for Community Life, an 80,000 square feet facility in Washington Heights, NY, combining a New York City Public School, the administrative offices for the Community League of the Heights and a nonprofit primary healthcare center.

view project details


Hope Community Development Agency

Financial consulting and project management assistance to Hope Community Development Agency for the development of Veranda Homes, a 40-unit affordable housing project in East Biloxi, Mississippi.

view project details


Dorothy McGowan Apartments

Dorothy McGowan Apartments, a 52-unit supportive housing project for formerly homeless individuals with chronic mental illness, low-income community residents and youth aging out of the foster care system.

view project details


 

Bayview Citizens for Social Justice

Bayview Citizens for Social Justice

Bayview Citizens for Social Justice (BCSJ), a community-based organization on Virginia’s Eastern Shore, grew out of the Bayview community’s response to the State of Virginia’s plans to develop a maximum security prison on fields adjacent to Bayview, an historic, rural, African-American community consisting of small shacks with no indoor plumbing or adequate heat or electricity.

Subsequent to its successful effort to block the prison, BCSJ partnered with Alembic Community Development and the Nature Conservancy to secure $12 million in Federal loans and grants, as well as private and foundation grants, allowing the organization to purchase 160 acres of land to develop a sewer and storm water system and other infrastructure improvements and to build 73 affordable homes in the fields once designated for the prison.

Alembic Community Development structured, applied for and secured all project financing, negotiated with the US Department of Agriculture’s Rural Development Loan Program and other lenders and coordinated the successful closing of all construction funds.

Today, Bayview is a community transformed, with affordable homes that have hot and cold running water, central heating and air conditioning, access to a laundromat and day-care center, and a playground.