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Archive for month: May, 2013

THE VALUE OF A HAND MEMBERSHIP: Testimonial from a HAND Student Member

May 21, 2013
May 21, 2013

Intern: Brett Weil, pursuing MS Finance University of Baltimore

Organization: Walker & Dunlop, FHA Finance Department

 In 2009, with the economy stagnating, I decided to pursue a master’s degree in finance to leverage economic expertise with my experience in real estate sales and project management. During the degree program, I realized that I would also need industry-specific education, training and networking to bridge the knowledge gap from real estate operations to finance. In the spring of 2012, I joined HAND as a student member for the outstanding opportunities the organization provides in the field of affordable housing. It was actually, a director of another local housing organization that directed me to HAND for a superior experience with the largest universe of firms, professionals, education and opportunity.

I was extremely pleased with the opportunities which I found at HAND as well as the professional members who were both friendly and knowledgeable. In March 2012, I attended the seminar “Year 15 and Strategies for HUD-assisted Properties” at L’Enfant Plaza Hotel, next to HUD headquarters. The speakers were highly-accomplished veterans at the top of their field. The purpose of the gathering was to share strategies how to maintain affordable status for tax credit properties nearing the end of the 15 year compliance period.

At that event, I shared my goal of obtaining an internship in apartment finance with various professionals whom I met. One member who is a lender actually arranged an offer with her firm, but the location would not have been feasible. I also spoke with Jerry Distefano, Business Development Manager with Reznick Group accountants (now CohnReznick) who offered to assist in my internship search. Later that day, I sent him my resume which he forwarded to Benjy Krosin, a loan originator at Walker & Dunlop. Krosin passed my resume to the head of the FHA (Federal Housing Authority) Finance department, Michelle Warner. Warner was most recently chief underwriter/program manager for Deutsche Bank Berkshire Mortgage where she oversaw loan structuring, credit risk management, program compliance, HUD relationships and staff across the country. A few days later, an onsite interview followed and I was offered the FHA internship. I can testify to the importance of networking, as the FHA finance opening had not been published.

During my internship, I worked with an originator and underwriter and became familiar with the following tasks: FHA-MAP (multifamily) loan refinance prospects using a HUD loan database, looking for selected loans with large unpaid balances, high interest rates, and acceptable prepayment timeframe. Using company/industry benchmarks and altered scenarios in sensitivity analysis, initial sizing resulting in proposal summary sheets, identifying borrower contact details, utilizing his prospecting skills.  I also helped underwrite loans by requesting and filing financial documents and 3rd part reports (appraisal, environmental, capital needs) and inspected the appraisals for flaws in hopes of receiving the most accurate value.

HAND is an incredible resource that connects the affordable housing world and provides top-notch industry-specific education, training and networking. Thank you to the staff, board members, sponsors and members who make it all possible!

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards PRESIDENTS AWARD FOR LIFETIME ACHIEVEMENT David Reznick, Cofounder, CohnReznick LLP

May 17, 2013
May 17, 2013

HAND’s 2013 Lifetime Achievement Award goes to David Reznick, cofounder of CohnReznick LLP. Some refer to him as the God Father of the Low Income Housing Tax Credit (LIHTC) Program, a critical tool to developing and preserving affordable housing. Others say he has a great sense of humor. However, what HAND knows about David is that his leadership in working with the nonprofit sector to demystify the complexities of the LIHTC program, gave organizations right here in the metropolitan region and abroad the confidence they needed to incorporate this unique financing model into their affordable housing development deals. Congratulations David!

0 Comments/in Uncategorized, HAND News, Member Events & Success Stories /by H.A.N.D.

HAND’s 2013 Housing Achievement Awards And the Winner Is…

May 17, 2013
May 17, 2013

HAND’s Housing Achievement Awards recognize the most outstanding and innovative housing developments, programs and solutions across the metropolitan region. On June 11th, the 2013  award winners will be honored formally at HAND’s 22nd Annual Meeting & Housing Expo. However, we thought we’d offer you a sneak peek into the nine award winners and how they are prime examples of Collaboration, Innovation and Transformation. Keep reading below to learn more about the individuals and organizations who are building strong communities across the metropolitan region.

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards DEVELOPER OF THE YEAR AHC Inc.

May 17, 2013
May 17, 2013

AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low- and moderate-income families in the mid-Atlantic region. Based in Arlington, VA, AHC has developed more than 5,300 apartment units in 39 properties in Virginia and Maryland since 1975. AHC also offers a variety of services to help families thrive and succeed. AHC’s Resident Services program, which reaches more than 2,000 individuals each year, received HAND’s Best Community Life Program award in 2010. AHC also provides home ownership and home improvement programs to families and individuals with limited incomes. In 2012, AHC initiated, preserved or opened five affordable housing projects, providing nearly 1,200 new or renovated apartments to the mid-Atlantic region. Located in four different jurisdictions in Maryland and Virginia, the projects represent a wide spectrum of development strategies, including creative site assembly, timely preservation of at-risk apartments, neighborhood revitalization, and innovative financing.  Congratulations AHC!

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.
  • Architectural images of Columbia Maryland apartment community and senior living center at Monarch Mills

2013 HAND Housing Achievement Awards BEST LARGE DEVELOPMENT Monarch Mills, Howard County Housing

May 17, 2013
May 17, 2013

Monarch Mills is a new 269 unit mixed-income, multi-generational, amenity rich, sustainably designed community in Columbia, Maryland. The units are all distributed amongst 10 craftsman-style inspired garden rental buildings. They are organized around a large common green, segregating vehicular and pedestrian circulation.  A continuous pedestrian path links all of the buildings and site amenities such that residents on foot need never cross the path of a car. Monarch Mills is an example of an affordable, quality and sustainable mixed-income community in which market rate and affordable units are indistinguishable and therefore interchangeable.  The community is owned by Howard County Housing and was developed in partnership with Shelter Development, LLC. Congratulations Monarch Mills!

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards Best Small Development Girard Street Cooperative, City First Homes

May 17, 2013
May 17, 2013

Founded in 1950, 1415 Girard Street Cooperative has a rich history as the first African American cooperative in DC, and has become a staple of the Columbia Heights community. Faced with numerous vacant units in need of repair and negative cash flow, the cooperative looked to City First for help.  City First worked with the cooperative’s leadership team to refinance, renovate, and reposition the building to ensure a sustainably successful future. The partnership with City First likely saved the cooperative from bankruptcy or sale, which in either case would have displaced the current resident owners and lost a long-term affordable property to the market. Congratulations to Girard Street Cooperative and City First Homes!

 

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards BEST COMMUNITY LIFE PROGRAM FACETS Education and Community Development Program

May 17, 2013
May 17, 2013

Founded in 1988, FACETS is a well-established nonprofit organization that touches and improves the lives of thousands of families and individuals every year.  FACETS open doors by helping people meet their emergency shelter, food, and medical needs, helping them gain safe, sustainable and permanent housing and working with them to end the cycle of poverty through educational, life skills and career counseling programs. FACETS’ ECD staff also work with families in these communities to help facilitate their ability to increase income and eventually to move into market-rate housing. Congratulations FACETS!

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards BEST GOVERNMENT HOUSING INITIATIVE My HOME Program, Prince George’s County Department of Housing and Community Development

May 17, 2013
May 17, 2013

On March 7, 2011, the Prince George’s County Department of Housing and Community Development (DHCD) launched the My HOME program for first time homebuyers.  This exciting program uses funding provided by the federal HOME Investment Partnership Program (HOME) to  provide homeownership assistance to low and moderate income buyers to purchase residential properties anywhere in Prince George’s County, MD. In order to minimize the likelihood that the home will subsequently go into default or foreclosure, the My HOME program also has underwriting standards regarding maximum monthly debt burden, refinancing, and a prohibition for adjustable rates and balloon payment mortgages.  The My HOME Program is implemented in partnership with over 50 participating lenders, the Prince George’s County Association of Realtors and HUD certified housing counseling agencies. Congratulations to the My HOME Program!

 

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards Innovation vPoint, Views at Clarendon Corporation

May 17, 2013
May 17, 2013

vPoint’s innovation stems from the combination of three unique attributes— its mixed-uses, its environmental attributes, and its dedicated partners.  This project’s success is evidenced by the nine-year journey to overcome neighborhood resistance and financial challenges to see affordable housing brought to a high-cost community in need of housing for all incomes.  The successful completion of the project was a testament to the many partners who never gave up the dream of affordable housing in this high-cost area. vPoint’s much-needed, transit-oriented affordable housing complements and enhances nearby revitalization and redevelopment initiatives, helping to ensure Arlington’s future is affordable for all. Congratulations vPoint!

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.

2013 HAND Housing Achievement Awards BEST PARTNER Michael Wiencek

May 17, 2013
May 17, 2013

Michael Wiencek is the President of Wiencek + Associates Architects + Planners, an architectural and planning firm that uses design to empower people and transform lives. He has a passion for making positive change in people’s lives. As Michael put it himself, “In our housing projects, many of our residents have lived in sub-standard housing all their lives. The children who occupy these spaces often live in conditions no one should have to live in. When we complete a project, our designs become a home and a community that the residents identify with in a positive manner. I believe this phenomenon transforms lives. It’s what keeps me coming to work each day.”  Due to these ideals, Michael Wiencek has repeatedly proven himself a valuable ally to the greater affordable housing development community. Congratulations Michael!

 

0 Comments/in HAND News, Member Events & Success Stories /by H.A.N.D.
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Annual Meeting Important Information

Payments: Orders placed on the event registration page are not confirmed until payment is received. A confirmation email will be sent to the email address listed in your registration. If you paid by credit card, a receipt will be sent to the email address listed in your registration. If you mail a check, all payments must be received within seven days of completing your registration form. Checks should be remitted to: HAND, PO Box 48386, Washington, DC 20002

Guest List & Dietary Preference: If your registration includes a luncheon table or multiple guests, please submit guest names and menu choices by May 1, 2020. Submit guest names here.

Housing Expo: Plan to exhibit? Download the Housing Expo FAQs here.

Omni Shoreham Hotel Room Block: For attendees looking to secure overnight accommodations on May 25th, HAND has secured a rate starting at $189 for conference attendees. There are a limited amount of rooms available, so visit this link today to reserve your room. May 10th is the last day to secure a room at the discounted rate.

 Ad Submission: The artwork for advertisements should be submitted to annualmeeting@handhousing.org. You can download the ad spec sheet here. Deadline for ad submission is April 13, 2020.

Cancellations & Changes: If you wish to cancel or change your registration for the Annual Meeting & Housing Expo, please send a request in writing to annualmeeting@handhousing.org. All cancellation requests made prior to April 27th will receive a 50% refund. For cancellation requests made after April 27th, no refund will be provided.

Door Prizes: Are you interested in donating a door prize to this year’s Annual Meeting? Email annualmeeting@handhousing.org to coordinate with our team.

Latest News

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  • Five Minutes With John HallNovember 21, 2022 - 7:21 pm

New Members

  • Erica LeeMay 18, 2023 - 3:48 pm
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  • Dreams WorkApril 6, 2023 - 1:02 pm
  • Indelible Housing Inc.March 30, 2023 - 1:01 pm
  • Fernando Miranda Jr.March 22, 2023 - 3:12 pm
  • Regions Affordable HousingFebruary 10, 2023 - 11:45 am

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