Projects

Rappaport Development built a 4 unit Group Home style development for a non profit service provider. This involved initial financial structuring, hiring the development team and supervising the project to completion. The development was fully ADA compliant and was built to house low income individuals with developmental disabilities. The project was financed by the New Jersey Housing & Mortgage Finance Agency (NJHMFA), the Department of Developmental Disabilities (DDD), the Springfield Township Affordable Housing Trust Fund and private sources.

Rappaport Development built a 4 unit Group Home style development for a non profit service provider. This involved site selection, initial financial structuring, hiring the development team and supervising the project to completion. The development was fully ADA compliant and was built to house low income individuals with Developmental Disabilities. The project was financed by the New Jersey Housing & Mortgage Finance Agency (NJHMFA), the Department of Developmental Disabilities (DDD) and private sources.

Rappaport Development worked with a retail owner of five Walgreens properties located throughout the East Coast. The work began with analyzing the portfolio and has now evolved into acting as the owner’s representative to oversee the repositioning and dispositioning efforts that will put the portfolio in a better position moving forward. This project is currently still active and includes working with several different stakeholders to analyze the benefits of utilizing a 1031 exchange. The exchange analysis includes making use of estate planning principles that will help to minimize the tax liability while maximizing the net profit for the owner.

Rappaport Development was hired close to a deadline to revise and oversee a 9% LIHTC application submission to the Pennsylvania Housing Finance Agency (PHFA). This involved working with an established multifamily Developer and their staff to revise debt structuring, construction costs and budget numbers in a timely manner in order to complete the application prior to the deadline. This project involved the substantial rehabilitation of 91 units of Project Based Section 8 housing. The financing for the proposed development involved funding from LIHTC’s, the Federal Home Loan Bank, the URA Rental Gap Loan Fund, Pennsylvania State Housing Tax Credits, a Seller Note, First Debt provided by PHFA and PHARE.

Rappaport Development analyzed an affordable housing owner’s 90 property multifamily portfolio and proposed a debt solution that would offer significant long term savings to the owner. This project is currently still active and involves combining multiple properties into one mortgage product. To complete this properly, Rappaport Development will be working with the lender to financially structure the project. This will include properly accounting for various restrictive covenants and existing deed restrictions that will be attached to the new mortgage.