Modernization & Development

Having successfully assisted and represented numerous PHAs in their revitalization and development efforts for over a decade, CVR can deliver the expertise and vision you need for such engagements. We have managed over $1 billion in HOPE VI Redevelopment projects, assuring compliance with development milestones and HUD requirements. Under the modernization and capital improvement programs, CVR has administered over $700 million in property rehabilitation, providing procurement, contract administration, and construction management services.

CVR Associates has successfully managed Capital Fund program activities for its clients, ranging from preparing mission statements and strategic plan development, to operational assessments and improvement plans, to direct management of all modernization and development activities and programs.

Mixed Finance Development Consulting & Project Implementation

CVR Associates has the necessary talent and experience to successfully assist with revitalization and development efforts. The services we provide are specific to each client’s unique needs. Services include:

  • Developer partner selection
  • Contract negotiation and contract oversight
  • Development of a feasible mixed finance program and budget
  • Preparation of HUD rental and/or home ownership program term sheets and evidentiary submissions
  • Assuring compliance with HUD program and legal document requirements throughout the construction period

 

HOPE VI Program Management Services

CVR personnel have been involved with the HOPE VI program since its inception and have successfully managed all aspects of over a dozen HOPE VI projects nationwide. By exclusively representing the interests of PHAs, CVR can focus on delivering a superior level of efficiency and expertise. This approach continues to result in award-winning projects for our clients. Services range from issue-specific consultation to complete program management, including:

  • Grant application
  • Procurement
  • Financial advisory services
  • Pre-development activities
  • Implementation activities
  • Construction management
  • Close-out

Financial Advisory Services

CVR has extensive experience in real estate financing, including:

  • Low Income Housing Tax Credits in multiple states
  • FHA and private mortgage tools
  • Federal Home Loan Bank programs
  • Tax Increment Financing
  • Section 108 Loan Financing
  • HOME, CDBG and other local financing.

We have assisted in securing over $500 million in real estate financing for affordable housing. CVR works closely with PHAs in leveraging limited resources, including HOPE VI funds, Capital Funds, and Replacement Housing Funds.

 

Modernization & Capital Program Administration

CVR works with large PHAs to manage and provide technical assistance in the management of Modernization Programs. We have overseen the modernization of more than 60,000 units with budgets exceeding $700 million. We do it all — develop capital plans based on physical needs assessments, procure design and construction professionals, and provide related contract administration services, and capital program budget management. In this role, CVR ensures that the entire process — from planning, procurement, and construction, to closeout — is performed on time, within budget, and in compliance with HUD rules and regulations.

CVR develops capital plans based on physical needs assessments, procures design and construction professionals, and provides related contract administration services and capital program budget management.