Public Housing

Arrowhead Grove, San Bernardino CA

National Community Renaissance of California

Klein Hornig represents the sponsor, National Community Renaissance of California, on this RAD conversion and revitalization of a large public housing site, Waterman Gardens. Two phases totaling 137 units have been opened to date; an additional 184 units have been approved for funding. Klein Hornig coordinated for each phase the RAD closing; a Wells Fargo equity investment; a HUD-insured 221(d)(4) loan; and soft public debt from the City, County and Housing Authority. Both early phases marked important developments in HUD’s RAD practice involving new construction “transfers of assistance.”

Iberville, New Orleans LA

HRI Properties, Inc. & McCormack Baron Salazar, Inc.

Klein Hornig represents HRI Properties, Inc. and McCormack Baron Salazar, Inc. as the joint venture housing developer for this redevelopment in New Orleans, LA. A $30.5 Million Choice Neighborhoods Initiative (CNI) grant from HUD has helped spur the transformation of this historic site in the Iberville-Treme neighborhood. To date our clients and the Housing Authority of New Orleans (HANO) have closed four on-site phases, comprised of over 500 units of housing – with hundreds more units in process. The on-site units have included a combination of new construction and historic rehabilitation, public housing (ACC) replacement housing, other affordable housing and market-rate development.

Jefferson Park State, Cambridge MA

Cambridge Housing Authority

Jefferson Park State is one of several mixed-finance redevelopment efforts that Klein Hornig has helped close involving Massachusetts state public housing. In this case we represented the Cambridge Housing Authority as it demolished an obsolete state public housing development and rebuilt 104 new units of replacement housing. JP State was the first large-scale redevelopment funded through the Massachusetts Department of Housing and Community Development’s High Leverage Asset Preservation Program (HILAPP). Klein Hornig helped CHA combine this new funding source with operating and capital assistance made available through its Moving to Work program as well as City funding, tax-exempt bonds and tax credits.

Alice Griffith, San Francisco CA

McCormack Baron Salazar, Inc.

Klein Hornig serves as primary counsel to McCormack Baron Salazar, Inc. (MBS) in connection with this ambitious and multi-phased redevelopment in San Francisco, CA. Klein Hornig helped structure and document a complex, multi-party development arrangement among MBS, Lennar Urban (master developer of the broader Candlestick Point redevelopment), the City of San Francisco and the San Francisco Housing Authority. Alice Griffith was awarded one of the first HUD Choice Neighborhoods Initiative (CNI) implementation grants. It was also the first project to combine CNI with the Rental Assistance Demonstration (RAD) program. Phases I and Phase II closed in early 2015, creating almost 200 new units of replacement housing across the street from the Alice Griffith development. Phase III, a twinned 4% and 9% LIHTC tax credit transaction with more than 120 units in a complex air-rights structure, closed early 2016.

CityWest, Cincinnati OH

The Community Builders, Inc.

Klein Hornig was deeply involved in this pair of HOPE VI projects with The Community Builders, Inc. and the Cincinnati Metropolitan Housing Authority in which two former public housing developments sitting across the street from one another were demolished and redeveloped. We successfully closed eight rental phases with a succession of funding sources and partners that produced almost 700 units of housing. We then continued to assist our client with challenging operational and restructuring activities, including a restructuring transaction that brought an infusion of new tax credit equity for a large element of the site.