Thatcher

Experience

New construction 90-unit multifamily workforce housing development with secured 4% LIHTC funding. The Transit Oriented Development is the first transformative development in the City’s Fourth Ward in 40 years, this project is the second phase of a 5-acre brownfield site acquired from the City of Plainfield. This project created, over one hundred construction jobs and represents 28M in investment in the City of Plainfield’s Fourth Ward which has experienced significant disinvestment in the last 50 years. This project is in construction and will be completed in April 2020.

Relationships

• PILOT and Redevelopment Agreement with the City of Plainfield
• Zoning Enhancement through Redevelopment Plan Amendment
• Secured first CDBG-FRM grant for the City of Plainfield
• LIHTC Equity Investor - RBC
• Construction Loan and Bond Purchaser – Chase Bank
• Joint Venture Partnership with large scale developer JG Petrucci

Project management

• Preliminary and final Planning Board approvals within four months
• Project Team selection
• Superior risk adjusted returns with use of state and municipal subsidies