Shelter has developed, acquired and managed a portfolio of luxury, mid-market, affordable and senior apartments in settings ranging from garden apartment communities to high-rises.

Development


Developing market-rate and affordable apartments for seniors and families — low-rise and high-rise; small-scale and large; conventionally financed or with financing as complex and sophisticated as that done by any company in the industry — Shelter has established a reputation for innovation, professionalism, financial savvy, thoughtfulness, and integrity.

Our experience with housing developments, institutional financings, syndications, and government programs (federal, state and local) makes us a particularly effective development partner.

Exceptional Strength in Complex Financing


Although the need for affordable housing is virtually unlimited, financial resources to create and maintain such housing are scarce. Participation in this market requires skills not brought into play in conventional development. Shelter has extensive experience in assembling diverse public- and private-sector players to make affordable apartment communities not simply viable but unusually successful.

To build and maintain market-quality housing at below-market rates -- while creating innovative solutions to meet the needs of community residents -- we work with state and local governments, federal programs, and private banking programs. We have broad experience combining private debt and equity with public-sector support in programs including tax credits, Community Reinvestment Act funds, subordinated debt and other subsidies, tax-exempt bonds, and HOPE VI funds.

Thoughtful, Aggressive Marketing


In all of our development projects we recognize the importance of initiating appropriate, aggressive marketing campaigns. Our experience has helped us to create marketing campaigns for a variety of settings and attract residents who understand and appreciate our philosophy of building and maintaining successful communities.

Acquisitions


Acquiring and repositioning properties is a complex and demanding process, one that we have mastered in all types of residential rental communities -- luxury, mid-market, affordable and senior. It draws on the full spectrum of Shelter's capabilities, including financing, development, marketing and management. Value accrues to our investors as well as the communities where these properties are located.

Careful Attention to Individual Markets


A hallmark of Shelter's approach to acquisitions is our specialized in-house and third-party analysis of individual markets to position our projects for success. Our regional offices, each the center of a concentration of properties, give us perspective on market nuances. Every detail of a project, from overall scale to architecture to amenities, is thoughtfully attuned to the individual character of local and regional conditions.

Property Acquisition / Rehabilitation


For ourselves and for our institutional partners, Shelter acquires and rehabilitates apartment properties. We also work with not-for-profit partners to acquire and preserve affordable housing. Shelter is considered an expert in rehabilitating older apartment communities, making them more profitable assets and enhancing resident services.

Diverse In-house Resources


Shelter's commitment to the highest possible level of quality in acquisition services is supported by our comprehensive in-house capabilities. Property management teams work with development teams from the beginning, bringing an important perspective to analysis and planning. As a result, underwriting assumptions have a high level of credibility, marketing plans are sound, lease-up is consistently successful, and initial occupancy moves smoothly. In-house construction management helps ensure on-time, on-budget completion of quality projects.

Shelter Family Living Communities

Shelter's affordable Family Living communities were begun in 1979 to serve families and individuals whose income is too high to permit government assistance, but too low to support entry into many conventional Apartment Homes. Typically, Family communities comprise 100 units in three story garden style buildings and serve people whose income is less than 60% of median income within the region.

By combining private debt, equity raised using the federal tax credit program, and financing support from local government agencies, Shelter is able to offer affordable rents within the reach of our residents. Meanwhile, providing our residents the opportunity to live in their own home, with amenities and resident services equal to those provided in far more costly facilities. In addition, we provide our residents with connections to agencies that offer a number of services for families and individuals (for example: nutrition counselors, social workers, after school care, computer learning centers, credit counseling and job search).

For more information about an individual Family community, please see the geographic listings under Rental Opportunities.