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Our Executive Team

Development Experience

Relevated brings deep expertise across various aspects of the development sector.

Our accomplishments include the successful management of competitive 9% LIHTC (Low-Income Housing Tax Credit) applications as well as numerous competitive gap financing applications paired with 4% LIHTC.

Our services encompass guiding clients through the complexities of LIHTC applications, preparing complete submissions, and facilitating both debt and equity closings. While we work on individual project applications, we excel in partnering with developers to manage entire portfolios.

Some highlights of our experience include:


1,900+ Unit LIHTC New Construction Portfolio

We provided development and partnership-level asset management for a 32-property portfolio comprising over 1,900 units, initially valued at more than $200 million.

This portfolio was primarily financed through tax-exempt bonds via the Michigan State Housing Development Authority, supplemented by the sale of LIHTC equity. Several projects were successfully funded through 9% LIHTC applications.


Preservation of a 2,400-Unit Section 8 Portfolio

We preserved a 20+ year-old project-based Section 8 portfolio consisting of 2,400 units across 15 properties, initially valued at $252 million.

Faced with an impatient investor eager to exit, we structured a complex takeout package involving four bridge loans totaling nearly $30 million. This enabled the limited partner’s exit ahead of individual property refinances.

The refinances used a debt structure combining state housing agency direct lending under the tax-exempt bond program with competitive gap financing, including HOME loans, mortgage resource fund loans, and 4% LIHTC.

All properties underwent extensive rehabilitation with residents in place, and the challenge of LIHTC qualifying existing households at properties that were 95% physically occupied was successfully managed.


1,400+ Unit LIHTC Acquisition/Rehab Portfolio

We managed development and partnership-level asset management for a 21-property portfolio in the Detroit market, consisting of over 1,400 units and valued at $143 million.

Each project had a complex capital stack, including City of Detroit HOME funds, Section 1602 Tax Credit Exchange Program funds, State and Historic Tax Credits, State Brownfield Credits, Neighborhood Stabilization Program funds, and LIHTC.


2,700+ Unit Multi-State Portfolio

We oversaw the development of a 14-property portfolio representing over 2,700 units across multiple states.

The initial projects used Income Averaging at the program’s onset and leveraged a debt structure combining direct lending from state housing agencies with tax-exempt bonds and competitive gap financing, including HOME loans, mortgage resource fund loans, and 4% LIHTC.

Several projects also benefited from pre-development and acquisition loans, as well as additional gap funding from local housing funds, in multi-layered transactions.