Thomas B. Email & Phone Number

Greater Chicago Area

Developer and consulting services specializing in multifamily housing. Services include development, co-development and consulting on financially complex projects, grant and competitive funding allocations, financial structuring, negotiations and community engagement. Joint-ventures with for-profit and non-profit organizations. Extensive experience in financing, construction and compliance of affordable and special needs housing.

Greater Chicago Area

Personally responsible for establishing a presence for Gardner Capital in the Illinois/Indiana markets for the development of affordable residential projects and while there facilitated the approval of their first 9% LIHTC project in Illinois; an 80-unit independent senior housing project utilizing geothermal heating and advanced LEED design elements. Also received approval for a second senior housing project the following year. Personally prepared all project applications for both competitive and institutional funds including institutional equity and debt investment, state LIHTC allocations, federal funds, AHP Grants, and other applicable financing programs. Also personally conducted all local project presentations to community groups, municipal staff, planning & zoning committees and municipal decision bodies regarding project design standards and community impact.

Chicago/Indiana

As Project Manager was personally responsible for the new development of affordable senior and multifamily properties in Illinois and Indiana. Directly responsible for the financial structuring of all projects contemplating 9% LIHTCs, HOME funds, AHP grants, TIF proceeds and various other grants eligible to Section 42 projects. Personally prepared all project applications for funds both competitive and institutional. Conducted all meetings and coordinating with municipalities and political leaders on community support and presentations. While at ERES closed their first 9% LIHTC project consisting of the acquisition and substantial renovation of a 112-unit HAP contract property using a unique partnership with Habitat for Humanity that allowed for the new construction of four homes rented to low-income families.

Directed all equity and debt financing and structuring, and lender and partner relations in the development of urban residential developments. Responsible for the financing and development of over 800 units of senior and family housing using both 4% tax-exempt and 9% taxable LIHTC financing representing project costs in excess of $150 million in debt/equity. Directed operational decisions regarding property operations and compliance for 800+ unit portfolio of residential properties. Instituted bulk-purchase program of natural gas resulting in 15% annual savings in property utilities expense. Conducted executive-level presentations to community groups, municipal staff and City of Chicago Aldermanic Council regarding project objectives and financial structure.

Directly responsible for strategic operations for Midwest office of Atlanta-based owner/developer of Apartment and Town home communities with a portfolio of 15,000+ units. Advised company President in the development and implementation of strategy to pursue new markets and investment opportunities in Chicago-area residential properties. Responsible for the acquisition and renovation of over 1,800 apartment units in various primary and secondary Midwest markets using $150,000,000 in conventional and tax-exempt financing. Worked directly with company President and Board of Directors on implementation of acquisition strategy and coordination of property closing activities.

As CFO, was personally responsible for the development, construction and renovation of over 350 multifamily/senior rental units using 4% and 9% low income housing tax credits. Reviewed and approved all company investment decisions in accordance with company objectives during the acquisition and renovation of multifamily properties in multiple Midwest markets. Oversaw daily property operations and management including: leasing, property accounting, operations and tenant certification. Personally performed pre-development site and demographic analysis of multiple Midwest markets for the development of affordable rental projects.

Directed by company owner to identify, research, and substantiate the potential profitability and feasibility of new markets and new investment opportunities. Directly responsible for facilitating all aspects of the acquisition/development of over $30 million in real estate assets, including market analysis, physical due diligence, financial structuring, buyer/seller negotiations, project budgeting, construction management and supervision. Managed the refinancing and loan closings of over $100 million in privately held commercial and multifamily properties. Conducted financial feasibility analysis for the conversion of over 1,200 condominium units in Illinois and Chicago markets.