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.
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.
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.
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.