Before there was GPS, radar and sonar to guide them, ships at sea had to rely on the skills of their navigator to make it safely home. An experienced navigator’s knowledge of reefs and shoals, winds and weather, tides and currents made him far more valuable than the captain when it came to not sailing off the edge of the world.
At Chesapeake Community Advisors, our experienced team of specialists stands ready to help you chart the best course to the successful completion of your real estate development project. CCA has the know-how to guide you past any pitfalls or problems that may arise and ensure smooth sailing towards realizing the maximum value of your project, regardless of its scope or complexity.
It is with great sadness that we announce the passing of Ben Etheridge, our dear friend and colleague.Read More
We were aspiring to take one of our HUD projects through a LIHTC transaction to receive much needed rehab of a senior building in Detroit. We weren’t equipped to handle the process ourselves and not knowing where to turn, CCA came highly recommended by a colleague. We haven’t looked back since. David Prout and the CCA team guided us and the nonprofit owners through the full development process. They took the worries out of our hands and led us down the path. Their vast knowledge of the LIHTC process; working with he governmental agencies; obtaining LP investors and the smooth construction process during the tenant in place rehabs were over the top. They are true leaders in the industry. We have since taken three other projects through the process and another in the pipline.
Gorman Management Company (GMC) is a legacy Section 8 owner/manager in Oklahoma that was established in 1978. We were introduced to CCA through Ben Etheridge in 2012 and closed our first two 9% LIHTC deals that year. Since then, we have closed an additional nine deals that are a mix of for-profit and non-profit owned properties (and three in process). Most of our deals are complicated and require expertise in all levels of affordable housing (HUD, LIHTC, FNMA, etc.). CCA has brought expertise as our development partner to all of these deals that was essential to their success.
We have worked on numerous types of financing with Chesapeake Community Advisors over the past ten years. They have ranged from FHA mark-to-market loans to Fannie Mae financing with various levels of renovations on developments across the country. What we have found is that there are very few advisors and partners like CCA who have the expertise to guide a deal literally from day one when looking at the feasibility of a deal through to the construction and lease-up of a property. We value working with CCA for their knowledge, ingenuity, dedication and hard work to come up with the best possible outcome for their partners and residents.