CHP Development, identifies and assesses new development sites as well as existing structures that can be successfully rehabilitated or adapted for reuse as housing. Whether working with architecture and construction groups or partnering with like-minded entities, CHP Development completes residential communities that are attractive, environmentally sensitive, and positioned to serve the needs of a diverse population.
CHP’s development division works hand in glove with our architecture and construction divisions as well as our property management division on CHP owned projects. Our coordinated, comprehensive development/design/build model is resource-efficient, however, CHP also has the readiness and capability to offer any of these services as stand alone, fee for services contracts.
CHP has extensive experience and expertise in managing large, complex projects that require interested parties from both public and private sectors. All of CHP’s properties are mixed income and affordable. We are adept at the coordination of multiple stakeholders including, but not limited to, the local government CEO, local government planning and zoning staff, local community stakeholders and existing residents (if any).
CHP Development’s roles and responsibilities are customized to fit the owners’ needs, but typically include site identification/control; provision of predevelopment costs and professional fees; and a comprehensive due diligence process. CHP also prepares the project scope in coordination with the owners and submits all land, building, governmental and funding applications. CHP development team is experienced in conducting underwriting and securing commitments; securing investor tax credit equity/arranging financing and overseeing closings. The team is further involved from construction start sign off through post project completion reports including: filings for historic credits, IRS documents, equity investors, compliance reports, proforma analysis, as needed or requested by owners.
CHP has a long, successful history of structuring Low-Income Housing Tax Credit Deals, completing about 60 Low-Income Housing Tax Credit deals since 1983. Of those developments, 43 have been in the Commonwealth of Virginia, making CHP one of the largest low income housing tax credit recipients in the State.
CHP is also committed to green and sustainable practices in all of its development, design and construction. Since 2006, CHP has developed or facilitated the development of more than 40 projects (single- and multi-family), representing more than 2300 units. Eighteen percent of our owned portfolio is EARTHCRAFT-certified.
Please contact Developmentfor further partnering information and availability.