New Construction
Housing Authority of Clackamas County
Clackamas Heights

Financial and Development Consultant for the repositioning of 200 units of Public Housing. The transaction involves the Section 18 disposition of two separate Public Housing developments totaling 200 units and the new construction of 228 units of on-site replacement housing utilizing Section 8 subsidy. The project accesses newly enacted State legislature allowing flexibility under the “Cottage Cluster” land use design style. Scope includes transation due diligence, financial analysis, value determination, architectural and land use oversight, contractor and architect procurement, HUD section 18 application and approval oversight, HUD relationship lead, lender and investor procurement and selection, lender and investor negotiations, lender and investor due diligence, partnership and debt document edit and review, tax credit application, construction loan structuring, and transaction closing lead. Brawner’s subsidiary, McCullough Allen will provide Owner’s Representative services prior to and during construction.

  • GEOGRAPHY TYPE: Urban
  • CLIENT TYPE: Housing Authority
  • FINANCING TYPE: 4% LIHTC
  • PROJECT TYPE: New Construction
  • SUBSIDY TYPE: Section 18/Disposition, HUD Repositioning
  • NUMBER OF UNITS: 218
  • LENDER: TBD
  • LIHTC INVESTOR: TBD
  • EQUITY INVESTMENT: $38,580,000.00
  • FINANCING SOURCE:
    4% LIHTC, Tax-Exempt Construction and Permanent Financing,, Sponsor Financing, Metro Funds, Home Funds
  • REHAB / NEW CONSTRUCTION VALUE:
    $90,465,000
  • TAX-EXEMPT CONSTRUCTION BOND FINANCING AMOUNT:
    $65,000,000
  • TAX-EXEMPT PERMANENT LOAN AMOUNT:
    $39,250,000
  • DEVELOPMENT / FINANCING BUDGET:
    $126,750,000
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