Do good, while doing well.
A Creative Approach to Addressing the Housing Crisis
Equity investors have traditionally targeted market rate housing, relying on rental increases and operational efficiencies to generate a rate of return commensurate with other private equity investments. Affordable housing is normally financed through the low-income housing tax credit program in addition to other local, state and federal funding sources. We focus exclusively on mixed income housing where in addition to market rate customers, we service the missing middle; individuals and families earning too much to qualify for affordable housing, but not enough to afford the market rate. Our model is to combine private equity with state, county and local incentives and effectively lower our overall cost basis to provide our investment partners with market rate, risk adjusted returns.
PARTNERING WITH AFFILIATED
We have a successful track record of partnering with institutional investors, pension funds, family offices and high net worth individuals. Honoring relationships is a core tenet at Affiliated Development, and we are fortunate to have earned the trust and confidence of our investment partners, many of whom have invested with us over multiple projects.
INSTITUTIONAL PRODUCT
We pride ourselves on delivering high quality, Class A assets that withstand the test of time. From initial conceptual design through construction, delivery and operations we obsess over the details and make decisions with long-term ownership in mind. We leverage the very latest technology and amenity offerings to enhance the overall customer experience leading to reduced turnover and stable returns.
The Bohemian | Lake Worth Beach, FL
A CONSERVATIVE APPROACH
Housing shortages exist across all incomes, but there is a dire need for quality workforce housing. We operate in a market where over 60% of renters are considered severely cost burdened. We strive to deliver a superior product priced below the market that yields stable, predictable returns to our investment partners.
AFFILIATED HOUSING IMPACT FUND, LP
Affiliated Housing Impact Fund, LP (“the Fund”) is an investment vehicle for Affiliated Development. Our principals serve as the sole General Partners and invest Fund capital into Affiliated Development projects. In addition to high-net-worth individuals and family offices, the investor base is primarily comprised of police, fire and general employee retirement systems located across the state of Florida. The Fund provides local pension funds a unique opportunity to invest retirement dollars back into the community and promote the development of desperately needed attainable housing that contributors can ultimately benefit from. This approach not only aligns the interests of investors with community needs but also establishes a collaborative and mutually beneficial relationship between local pension funds and Affiliated Development. The Fund is currently fully subscribed and closed to new investors. We expect to launch the next fund in 2024.