Affordable Housing America, Inc. (“AHA”) is an IRS designated 501 (c) (3) non-profit corporation formed in August 2005 in the State of Georgia. AHA’s mission is to sponsor, acquire, develop, own, manage, and operate affordable rental housing for families, seniors and disabled individuals.
While AHA’s primary mission is to provide affordable and senior housing, historically its main geographic focus has been on underserved non-urban and rural areas of the United States. In 2012, AHA started a campaign to fulfill its mission by working in urban areas as well.
AHA utilizes a team approach -- led by its experienced board and a network of seasoned real estate professionals -- to identify and evaluate potential projects that will fit its mission. Once projects have been identified, relationships are solidified with the existing property owner(s) (sellers) and the current property management company. Typically, AHA does not change property management companies unless there are significant management issues or the current manager wishes not to renew their management contract. AHA’s objective is to not create any stress on the property, its tenants, or the neighborhood community as a whole. This goal is best achieved by slowly integrating change when change is called for.
AHA is building its portfolio and balance sheet. In the interest of protecting its balance sheet and mitigating significant risk, due diligence funds relating to the acquisitions of AHA’s assets are typically provided by development partners. These partners have a higher tolerance for risk. In exchange for investing pre development funds, AHA typically agrees to allow the developers (or contractors) to earn reasonable, competitive, and fully disclosed fees during the project’s rehab period. This model has historically served AHA well. Funds for acquisition of AHA’s target properties might originate from proceeds relating to the sale of Low Income Housing Tax Credits (or 1602 Exchange Funds), taxable or tax exempt bonds, FHA, USDA or conventional debt, “soft” loans, grants or any other form of funding made available by local, state or federal governments.
AHA’s long term goal is to own, operate and ultimately preserve a significant portfolio of quality affordable housing properties geographically located throughout the United States of America, and utilize our core strengths to assure extended affordability for worthwhile and needed apartment communities.