|TCG Development Services, LLC (TCGD), has been involved in the design,
development, occupancy and resident organizing of affordable homeownership communities
throughout the US. These activities have given approximately 33,000 low- and medium-income
families the opportunity to own their homes and participate in operating and managing
As a developer, co-developer or as a member of other development teams, TCGD understands and has gained experience in the full range of development activities. These include formulating housing development strategies; identifying and acquiring sites; managing architects and engineers to rezone land, developing designs and construction documents; overseeing construction and occupancy; managing legal staff to prepare organizational documents; training residents on homeownership responsibilities; training boards of directors on leadership and management and operations oversight; assisting property managers with start up and operations; and working with local governments and authorities on integrating housing development into local plans and strategies.
Currently, TCGDs largest development projects are in Lakeland, Florida and the County of Kern, California:
In conjunction with the Housing Authority of Lakeland, Florida, TCGD is the lead developer of a $60 million comprehensive neighborhood revitalization project through a public-private partnership. In August 1999, the Lakeland project was awarded one of 20 HOPE VI revitalization grants from HUD for $21.1 million. These funds will be leveraged by nearly $38 million in support from community partners including public housing residents, social service organizations and area businesses, city and county agencies, TCGD and the housing authority. An additional $10 million in tax increment financing has also been pledged by the city through the creation of a Community Redevelopment Area.
The Washington Ridge Community Renaissance combines both physical and economic revitalization. Physical redevelopment will reduce population density at the two public housing sites while the number of housing choices for lower-income families will increase. The 380 public housing units will be replaced with 220 new, mixed-income dwellings and 32 rehabilitated units. It is expected that 100 mixed-income families will move into the neighborhood to occupy the new and renovated houses while a similar number of lower-income working families will have the opportunity to relocate to new and renovated houses elsewhere within the city and county.
The communitys economic base will be rebuilt with $3.5 million pledged by stakeholders and $3.2 million of HUD funds. These resources will go toward skills training, social service programs, and business development initiatives that will enable families to obtain good jobs and an improved quality of life. Area businesses have pledged 688 new jobs guaranteeing that low-income families will have the opportunity to realize $25.7 million in new household income over the next four years. New job holders will have the incentive of homeownership guaranteed by $13 million in below market-rate financing commitments and $2 million in downpayment assistance.
In 1998, the housing authority of the County of Kern, California selected TCGD as lead developer for a HOPE I-funded redevelopment of three public housing communities designed to provide affordable home ownership opportunities for residents. This project includes the sale of 160 homes to residents, developing replacement housing, and revitalizing the neighborhood at one of the sites.
Planned activities include redeveloping and converting a 92 unit multi-family property to home ownership through a common interest realty associationeither a cooperative or condominium. A second phase of the project will be developed under the 5(h) program and additional housing near the main site will be acquired, rehabilitated and constructed as in-fill housing. Commercial development of adjacent land is envisioned in order to provide a day care center and other businesses that the area needs. Other activities include preparing the residents for the sale of up to 60 public housing units at recently rehabilitated duplexes and for 16 units at another recently rehabilitated site.
The core team includes TCG as lead developer; Self-Help Enterprises as co-developer; David Kirkpatrick, Attorney at Law; Fred Consulting Associates, as tax credit advisors; and financial partners Bank of America, the National Cooperative Bank, and Fannie Mae.