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Home > About American Community Developers

American Community Developers, Inc. ("ACD") is a Michigan corporation that was incorporated in 1980 for the primary purpose of acquiring, developing, constructing and managing affordable housing.  ACD specializes in the preservation of existing affordable multifamily housing, and ACD and its affiliated entities actively pursue the acquisition and rehabilitation of older, HUD assisted properties, typically in conjunction with Low Income Housing Tax Credits ("LIHTC") and new HUD/FHA financing.

ACD's acquisition/rehab experience runs the gamut, from modest rehab projects having a scope of work of $10,000 per unit; to substantial rehab projects with construction costs over $40,000 per unit; to new construction projects; to adaptive reuse projects with total project costs exceeding $100,000 per unit and requiring virtual demolition and total space reconfiguration with retrofitted new construction.

ACD and their related entities currently have 23 full time employees at their home office.  ACD has been involved in 93 affordable housing preservation projects located in 11 states.  Presented in the table below is a summary of ACD's current affordable housing portfolio:

Type # of
Properties
# of
Units
% of
Total Units
Total Portfolio 93 12,244 100%
HUD Section 8 86 11,640 95%
LIHTC 64 8,522 70%
HUD/FHA Financing 59 8,282 68%
Family Population 55 7,508 61%
Senior Population 28 4,052 33%

In addition to LIHTC financing, HUD/FHA financing (i.e., 223(a)7, 221(d)3, 223(f), 221(d)4, 236 and 202 prepayment), OMHAR/OAHP mark-to-market full restructurings, M2M "lite" transactions, and Tax Exempt Bond financing, ACD has secured other sources of funds/loans for its properties including syndication of Historic Tax Credits, HOME Loans, Section 241 Rehab Loans, Federal Home Loan Bank Grants/Loans, HUD Drug Elimination Grants, Weatherization Grants, Green Communities Grants, TCAP Loans, 1602 Grants and various city and state agency trust funds.  ACD has demonstrated an ability to learn, adapt and compete effectively for affordable housing financing that has become increasingly difficult to obtain in a changing environment.

ACD values the benefits it derives through positive relationships with its limited partners, nonprofit partners and its agency relationships.  ACD has developed relationships with several nonprofit corporations that serve as co-general partners, special limited partners, social service coordinators and as consultants.  ACD also enjoys good standing with HUD field offices and various state housing agencies with which it conducts business.  HUD has consistently given ACD and its management agent, Independent Management Services, "above average" or "superior" ratings when performing periodic audits.

ACD's construction activities are conducted through its wholly-owned subsidiary St. Clair Construction Company ("SCC").  SCC has an excellent credit rating and has excellent relationships with the trades and suppliers necessary to complete the rehabilitation projects in each of the states in which it operates.

ACD has engaged Independent Management Services ("IMS") as their property management agent to manage and oversee the total operation of ACD's entire affordable housing portfolio.  IMS has maintained an average occupancy of over 95% in ACD's portfolio with exceptional ratings from HUD and all other involved agencies.

     
 
 
 
 
 
 
 
 
 
 
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