MGRE has developed or redeveloped more than 1,600 units of housing with financing from Low Income Housing Tax Credits. These development activities include acquisition/renovation and new construction of multi-family properties. MGRE is comfortable with layering LIHTC equity with other sources of private and public loan funds, including Historic Tax Credits, HOME and CDBG funds. MGRE will partner with for-profit and not-profit partners to develop affordable housing and is comfortable applying for competitive 9% credits and 4% tax credits utilizing tax-exempt financing.

Highlighted Projects:

• St. Michaels Veteran’s Center – Kansas City, Missouri

• Orchard Apartments – Independence, Missouri

• John Calvin Manor – Lee’s Summit, Missouri

• Brittany Court Apartments – Gardner, Kansas

MGRE is working with for-profit investors and developers to create market rate and affordable housing. Typically, on a for-profit development MGRE can be paid a fee for consulting and/or have a percentage of the ownership. For-profit development includes sourcing projects, administering the tax credit/financing process, close on construction and act as owner representative during construction.

Highlighted Projects:

• Iola School Redevelopment Phase I – Iola, Kansas – BNIM Development

• Gallery Lofts – North Kansas City, Missouri – Yarco Company/RCT Investments LLC

• Columbus Square Apartments – St. Louis, Missouri – Bank of America CDC

• Longfellow Apartments – Kansas City, Missouri – McCormack Baron Salazar

MGRE will work with non-profit and for-profit management companies to provide management and asset management assistance. MGRE can trouble shoot and perform property analysis on distressed properties in a management portfolio and perform a variety of tasks including property performance review, create market comparison summaries and unit inspection reports. Asset management can include annual property site visits, bi-annual budget review and owner representation during annual budgeting process.

MGRE has developed market rate and affordable historic properties utilizing the Historic Tax Credit. In addition, MGRE also consulted with an investor purchasing Historic Tax Credits by providing underwriting and due diligence research for the purchase of credits on properties around the country.

Highlighted Projects:

• Historic Ellison Apartments – Kansas City, Missouri

• City Hall Lofts – Kansas City, Kansas

• 915 BDWY – Kansas City, Missouri

MGRE has a long history of working with non-profits communities/entities to develop housing. These projects include special needs housing, for example homeless veterans, young adults leaving foster care and senior housing. With over 30 years of housing experience and having worked for non-profit community development entities, MGRE understands the unique challenges to non-profits as they work to find prospective projects, perform due diligence, pay for predevelopment costs, apply for financing, close on construction and complete construction and lease up.

Highlighted Projects:

• Twin Elms Apartments – Kansas City, Missouri – Community Builders of Kansas City

• St. Michaels Veteran’s Center – Kansas City, Missouri – St. Michaels Veteran’s Center

• Turtle Hill Townhomes – Kansas City, Kansas – City Vision Ministries

• Olive Park Village – Kansas City, Missouri – Phoenix Family Housing

MGRE will work with local communities/cities/counties to assist in preparing housing studies and promote the development of market rate, workforce and affordable housing. MGRE can analyze community data and formulate a strategic housing plan to promote affordable and workforce housing, a plan that will meet specific needs and create a clear plan to produce housing.

Highlighted Projects:

• Strategic Housing Plan for the Coalition for Rochester Area Housing, Olmstead County/Rochester, MN – Created a strategic housing plan for the county and a local foundation to meet the demand for workforce/affordable housing in the community due to the incredible demand for market rate housing from the large employment base at the Mayo Clinic Hospital.

• City of St. Joseph, Missouri – Assist the Chamber of Commerce to develop strategic plans to assist real estate developers to create workforce/affordable housing for several large local employers. Plans will provide specific property and financing plans to create needed housing.

Michael Grube, President of MGRE can provide lectures on many facets of real estate development including LIHTC development, underwriting of real estate, financing of real estate including tax credits and development team assessment.

Highlighted Lectures:

• Full Semester Class – Michael Grube lectures UBPL 768 in the Graduate Program of Public Policy and Planning at the University of Kansas. For students in the graduate program on a real estate development track, the course is developed around a case study format to provide students with advanced study in real estate finance and development including syndication of LIHTC and HTC.

• One Day Training – One day customized training for local community development leaders, housing professionals and lenders discussing real estate financing and syndication of LIHTC and HTC. The course can easily be applied to other settings in which housing professionals need training on creating affordable housing.

• Conference Speaker – Customized speaking on broader issues for conference panels. In the past, Michael has presented at conferences on a panel with other speakers (approximately 15 minutes each) and on a solo panel (approximately one hour) on real estate issues.