Housing Production Team
Monarch’s Housing Production Team is a premier, state-wide housing consulting company with 30 years of experience working with clients to develop affordable and mixed- income rental housing for seniors, families and persons with special needs. Our clients include private developers, housing authorities, senior housing associations, hospitals, social service agencies, non-profit organizations and municipalities. As a result of Monarch’s work, more than 2,500 units of affordable rental housing have been created and/or preserved in New Jersey.
Monarch has extensive experience helping our clients develop affordable, rental housing for persons with special needs, seniors and households with low incomes. Our project experience includes new construction, rehabilitation and reconfiguration of existing housing, and the adaptive re-use of commercial buildings into housing.
Our team has developed an expertise in assembling project financing for affordable housing projects using multiple layers of financing from local, state, federal and private funding. Some of these funding sources include:
- 4% and 9% Low Income Housing Tax Credits
- HUD-Insured FHA mortgage financing
- NJHMFA Financing programs
- HUD Rental Assistance Demonstration Program (RAD)
- Federal Home Loan Bank Affordable Housing Program
- Municipal Affordable Housing Trust Funds
- NJ Balanced Housing/NJ Home Express
- NJHMFA Special Needs Housing Trust Fund
- HUD 202/811
Tax Credit Consulting Services
Monarch has a long and successful track record of providing tax credit consulting services that began in 2005. Since that time, Monarch has secured twenty-one (21) 9% and 4% federal low income tax credit awards from the New Jersey Housing and Mortgage Finance Agency for eighteen (18) different clients which created over 1,400 units of affordable, mixed-income and special needs housing in New Jersey.
Our Multifamily Development Services
Monarch offers a comprehensive range of consulting services including assistance with site selection; assembling the development team; creating a viable project concept; preparing financial projections; preparing funding applications and negotiating commitments for predevelopment, construction and permanent financing including grants, loans and tax credits; assistance with loan and equity closings; applying for project-based rent subsidies; and coordination of construction disbursements.