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 owners or agencies, CHP Development creates residential communities that are healthy, attractive, environmentally sensitive, and positioned to serve the needs of a diverse population.
CHP Development works hand-in-glove with our architecture, construction, and property management departments on CHP-owned real estate development projects. Our coordinated, comprehensive development/design/build model expedites the sharing of information, helps protect against project cost overruns, and enables sheduling issues to be addressed in a timely manner. 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 involve parties from both public and private sectors. We are adept at the coordination of multiple stakeholders, including, but not limited to, local government leaders and planning and zoning staff, existing residents (if any), and neighbors.
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. Our development team is experienced in conducting underwriting and securing commitments, procuring investor tax credit equity/arranging financing, and overseeing closings. The team is fully engaged from construction start sign off through post-project completion reports, which can include filings for historic credits, IRS documents, equity investors, compliance reports, and proforma analysis as needed or requested by owners.
CHP has a long, successful history of structuring Low-Income Housing Tax Credit (LIHTC) deals, completing about 60 such projects since 1983. Of those developments, 43 have been in Virginia, making CHP one of the largest low- income housing tax credit recipients in the state.
CHP is also committed to healthy and sustainable practices and products in all of its development, design, and construction activities. Since 2006, CHP has developed or facilitated the development of more than 40 projects (single- and multifamily), representing more than 2,300 units. Eighteen percent of our owned portfolio is EARTHCRAFT-certified.
Please contact Developmentfor further partnering information and availability.