Owner’s Representative Services
Kovert Hawkins Architect
Mixed-Use Building
A CDC in Kentucky that provides services to the formerly incarcerated needed development expertise to develop a mixed-use building in a low-income Louisville community. AIM provided the initial Development Consulting services for the proposed project and is currently acting as the Owner’s Representative on behalf of our national client. Our Owner’s Representative work scope included guiding the architectural design and development process, structuring the financing model, identifying and preparing applications for government and foundation subsidy sources; vetting and supervising development professionals; developing proformas and cash flow models; obtaining rezoning, historic and archeological approvals; contract review; and developing a marketing plan. AIM also served as liaison to elected and appointed officials, regulatory agencies, foundations, lawyers, lenders and investors.
The project was awarded a New Market Tax Credits allocation in late 2019. The 30K SF retail and office space, to be completed in Quarter 1 2021, will include mission-aligned tenants providing the following: expanded CDC programming, a pre-school, a local credit union, small business development resources, tech/skills development, and other local amenities.
Affordable Housing
A low-income community on Long Island, New York had participated in a visioning process that was to guide the use of vacant land parcels in the community. As the development partner for one of the land parcels, AIM proposed the development of a mixed-use building to provide homeownership, residential rentals, and retail opportunities for the local community. AIM brought the project from conception to completion. This included the hiring and supervision of all development professionals, guiding the development of architectural concepts and plans, obtaining zoning, environmental and regulatory approvals; creating proforma’s and cash flow statements; obtaining public and private financing for the project, facilitating all required legal and community approvals, overseeing the construction requisition process; and developing and implementing a community focused marketing strategy.
The result was a quality designed and constructed, mixed-use building, with affordable homeownership opportunities for seven families and rental opportunities to an additional seven families. The retail frontage was sold to businesses that are providing retail and services not previously available to local residents.