WE CARE about progress.
TPI Development is focused on preserving or adding to the nation’s affordable housing stock by developing or working with other developers to build new and/or rehabilitate existing affordable housing communities. In addition to the properties TPI manages for others, TPI owns or co-owns more than 2,000 rent-restricted apartment units in Florida, Georgia, and Tennessee.
As developer, codeveloper, and/or general partner, we provide a full range of services, including the following:
- Analysis and identification of properties to be acquired and developed or redeveloped
- Working with bond issuers and lenders to obtain funding for the project
- Identifying, selecting, and contracting with key vendors, including architects, contractors, surveyors, engineers, etc.
- Obtaining governmental approvals and regulatory consents and complying with any applicable regulations
- Obtaining low income housing tax credits, as applicable
- Overseeing contractors and subcontractors to ensure the product is built as anticipated on time and within budget
- Relocating tenants during construction (for rehab projects)
- Marketing the units to prospective tenants after completion
The Sunset Bay Rehab Story
Along with our development partner, we resyndicated and rehabbed a 308-unit tax credit property in Cutler Bay, FL. Recently, every apartment was overhauled, included cabinets, floors, vanities, painting and new AC units. The residents are very excited about their new gigs and were very accommodating to help make this rigorous project go smoothly. We also added 11 ADA units.
This was a formidable task that required immense levels of coordination and cooperation. To do this, we refurbished 35 vacant units as temporary living spots for residents as we renovated their apartments. We negotiated contractor agreements; worked with bond issues, equity investments and lenders to obtain funding; and obtained governmental approval. We hired a renovation team to help with packing and ensuring everything was put back in place. We also provided packing supplies and storage pods for those with lots of furniture.