Established in 1995, Millennia Housing Development, Ltd. (MHD) is the real estate development company within The Millennia Companies (“Millennia”). MHD’s team of professionals leads Millennia’s efforts to acquire new assets, and recapitalize and redevelop both existing and newly acquired assets utilizing a variety of financing tools.
We are experts in managing complex financing structures including use of tax exempt and taxable bond issues, 4% and 9% Low-Income Housing Tax Credits, state housing tax credits, soft subsidy loans through state and local governments, tax PILOTs/abatements, bridge loans and private equity investments. We work extensively with key government-sponsored entities such as Fannie Mae and Freddie Mac, and work in concert with the Federal Housing Administration (FHA). MHD works creatively and consistently to employ new tools and funding programs to meet our objectives.
Overall, MHD’s goal is to ensure that properties coming into The Millennia Companies’ robust and growing portfolio (and properties in our existing portfolio) are (and remain) financially viable. This goal is aligned with The Millennia Companies’ overall mission – to serve as a dedicated long-term owner and manager of quality apartment communities – both affordable and market rate.