AHCDC
Affordable Housing CDC
Overview of Affordable Housing CDC
Affordable Housing CDC, Inc. is a California non-profit public benefit corporation formed in 1992. The organization has been granted tax exempt 501(c)(3) status by the IRS and state of California.
AHCDC’s primary goal is assisting low and moderate income families and senior citizens to obtain affordable housing. It pursues this goal through direct property development and ownership, property management, arranging and providing financing for affordable housing, and offering a variety of real estate consulting services to public agencies and charitable organizations.
Our History & Operations
AHCDC was conceived by several banking and real estate professionals concerned by the lack of financing and development expertise specifically targeted toward local community organizations and housing service providers. As a result, these organizations were seen frequently struggling to obtain and then adapt conventional real estate services and methods to the unique needs of affordable housing. The founders were convinced that an organization such as AHCDC should be formed with a dual mission. Not only would AHCDC participate in traditional housing development and ownership roles, but it would also provide a variety of advanced consulting services. These services would be offered to housing developers, governments, and charitable organizations concerned with specific housing issues and unsure how to address these concerns using traditional real estate service providers.
On behalf of the Resolution Trust Corporation, AHCDC was retained to advise on appropriate structures and loan underwriting for multifamily properties transferred under the RTC Affordable Housing Disposition Program. AHCDC assisted in the preservation of several hundred affordable units in California through these activities. Following the successful completion of RTC’s work, AHCDC remained dormant for several years while its Board of Directors considered appropriate activities that would insure the organization’s continued success.
The organization is now placing primary emphasis on three significant issues facing the affordable housing industry:
the increasing supply of existing properties facing a potential loss of affordability due to expiring use restrictions
the desire of established property owners to dispose of portfolio properties (which are often seen as lagging in future growth potential but often serve the most needy population groups)
- the large supply of properties that are currently owned by for-profit investor partnerships that require a change of ownership, recapitalization, and financial restructuring due to tax shelter conditions or expiration of low income housing tax credit compliance periods
AHCDC is equipped to address these issues through property acquisition, financial restructuring, and asset management advisory services.