Development of Affordable Housing
Listed here is a representative sample of clients who have looked to Burlington Associates for assistance in:
◦ Assessing the feasibility of proposed housing projects and preparing
development pro forma;
◦ Negotiating and drafting funding agreements and development agreements;
◦ Educating private lenders, public funders, and property appraisers about
various models of resale-restricted, owner-occupied housing.
Athens Land Trust (Athens, GA)
Assistance with CLT ground lease development, project financing and permanent mortgage financing for CLT homebuyers.
Central Minnesota Housing Partnership (St. Cloud, MN)
Assistance to CMHP and the Central Minnesota Community Land Trust, a CMHP subsidiary, in designing a 30 single-family for-sale homes in an award-winning, mixed-income, Traditional Neighborhood Design community known as “Heritage Greens.”
Greater Iowa City Housing Fellowship (Iowa City, IA)
Assistance with educating appraisers about appraisal methodologies for valuing resale-restricted, owner-occupied housing on leased land.
North Missoula CDC (Missoula, MT)
Training of new staff in project development fundamentals; assistance with identifying and obtaining appropriate project financing resources; assistance with design and implementation of CLT condominium program.
Sawmill Community Land Trust (Albuquerque, NM)
Planning and preparation of development pro formas for the residential and commercial redevelopment of a 27-acre inner-city site previously owned by the City of Albuquerque. Assistance in developing a marketing plan for the sale of Sawmill’s first resale-restricted, owner-occupied housing.
Thistle Community Housing (Boulder, CO)
Assistance in developing a mixed-income 198-unit homeownership project in Longmont, Colorado, divided among two condo associations and a co-housing regime. Assistance resolving ground lease and resale formula issues and negotiating the sale of CLT mortgages to Fannie Mae.