The Details.

Tenants Save.

  • AREF Affordable Rent for the "Missing Middle."

    ⚫ Typically rents average the equivalent of 65% - 85% of AMI.
    ⚫ Rents are truly affordable, always 20% or more below the local Class A Market Rents.
    ⚫ Rents are set by the local Agency.
    ⚫ YOUR Teachers, Firefighters, Police & others can afford to LIVE locally!

  • AREF Advantages to this Platform.

    ⚫ No restrictions due to financing ⚫ No restrictive regulatory agreements ⚫ No HUD/Fannie/Freddie requirements ⚫ No regulatory compliance requirements
    ⚫ Rent structure and compliance are set by the local City/Agency/JPA based upon community needs.

  • AREF Financing Platform Incorporates A Long Term Master Lease.

    ⚫ AREF Buys/Owns the Project and leases it back to the City/Agency/JPA ⚫ The Lease is a NNN, Bond long term “40 year” lease ⚫ Lessee will earn an annual fee OR a Negotiated front end fee ⚫ Project is donated to the City/Agency/JPA at the end of the Lease Term free and clear of any debt or encumbrances.

  • AREF Types of property: Program can be utilized for...

    ⚫ Acquisition of Class A projects then allowing conversion to “Workforce Housing” rent levels.
    ⚫ New construction, (@C/O)
    ⚫ Acquisition/Rehab of existing projects.
    ⚫ Preservation
    ⚫ Release of trapped equity

  • AREF Platform will provide 100% financing.

    ⚫ No Competing for Tax Credits
    ⚫ No Competing for Tax Exempt bonds
    ⚫ No Grants or donations to compete
    ⚫ Risk Mitigation: Ample reserves for Capital Replacements, Operating, Lease up and specific project needs and even recession provisions.

  • Management Control & Rent Compliance

    ⚫ Property management is controlled by the City/Agency/JPA. YOU Outsource or manage.
    ⚫ Occupancy Restrictions and compliance are controlled by the City/Agency/JPA.
    ⚫ City/Agency/JPA can qualify units so they can satisfy RHNA requirements.