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For some clients, the integration of market-rate housing is essential for revitalizing their communities. We assist clients in disposing of their property for these developments and in reviewing and drafting documents to protect their interest in the real property. Some representative examples of the firm's work are: |  | Westhaven Chicago, IL This project capitalized on the value of property owned by a public agency to generate income for the agency. Reno & Cavanaugh helped negotiate the profit-sharing provisions for this condominium project, which is financed by a $12 million loan from Citibank and $2.5 million in tax increment financing provided by the City of Chicago. |
| | Photographer: Thomas Arledge | Chatham Square Alexandria, VA To achieve one-for-one replacement of dilapidated housing, this client captured the value of its land through its sales price and required 52 public housing units to be rebuilt on-site with money lent by the housing authority. Reno & Cavanaugh helped negotiate a unique purchase and sale agreement for this development, where public housing renters live next door to owners of million-dollar homes. This project was developed by EYA and in 2006 received two Pillars of the Industry awards from the National Association of Home Builders (NAHB)--one for Best Urban Site Plan, and another for Best For Sale Community, 15-40 Units Per Acre. |
| | | Townhomes of Capitol Hill Washington, DC This redevelopment includes both a limited-equity cooperative and fee simple homeownership structure. The 134 cooperative owners enjoy all the benefits of traditional homeownership at affordable rates, including the opportunity to earn equity relative to their length of time in the community. Additionally, a total of 19 units in 13 buildings scattered throughout the community were made available for sale at prevailing market rates, and are not included in the cooperative structure. |
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2008 © Reno & Cavanaugh PLLC | Disclaimer & Privacy Policy | Last Updated: 08.28.08
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