Development and Asset Management
Anthracite Place, Crested Butte, CO – Williford LLC provided project management for project lease up, stabilization and conversion to permanent finance for this 30-unit Low Income Housing Tax Credit apartment building. We bolstered the capacity of the Gunnison Valley Regional Housing Authority in managing timeline and budget risk and provided continuity through a transition of executive leadership.
City Hall, Rifle CO – Williford LLC is providing technical assistance to the City of Rifle as they seek to accomplish a three-part goal of catalyzing downtown redevelopment, relocating their City Hall, and providing workforce housing on a single downtown site. Our role includes review and guidance on project team structure, budget, timeline, and potential risks and benefits.
Garden Walk, Gunnison, CO – Williford LLC was part of the consultant team supporting Belmont Management as they secured land and successfully competed for an allocation of 9% Low Income Housing Tax Credits in 2018. The two-acre site is located within a few blocks of shopping, free transit, the Gunnison Hospital, and Western State University. When complete, Garden Walk will include 36 apartments for rent to households below 60% area median income.
Hot Springs Blvd, Pagosa Springs, CO – Archuleta County Housing Authority is seeking to increase the supply of affordable rental housing in Pagosa Springs. Williford LLC has provided consulting services to assist them in securing land, assessing initial project feasibility, determining a timeline, and securing a development partner.
Paradise Park, Crested Butte, CO – Williford LLC has supported Town of Crested Butte with two phases new housing for locals in the “missing middle.” Williford LLC is providing owner’s representation for the first phase, six duplexes, which are currently under construction. Williford LLC coordinated a competitive procurement and initial contract terms for a developer of the second phase, which will include 26 single family homes, duplexes, and triplexes and will be built in 2019 and 2020. Home will be deed restricted and sold to qualifying households between 80 and 200% of area median income in Gunnison County.
Sunshine Peaks, Montrose, CO – Williford LLC provided asset management assistance to the Montrose County Housing Authority as they considered assuming ownership of 92 apartments. We provided an introduction to the Low-Income Housing Tax Credit, reviewed project documents, conducted a site visit, participated in negotiations with the developer, and facilitated a strategic planning session with the housing authority Board of Directors.
Willa brings 16 years of project management experience to her consulting practice. From a portfolio of many successful projects, these are most relevant to today’s challenges in the mountain west:
Kestrel Housing – On behalf of Boulder County Housing Authority, Willa secured a 13 acre site just north of the historic downtown, which was the last remaining residential infill site in Louisville, Colorado. Willa led the team to secure planning approvals and financing for 200 new affordable homes in a traditional neighborhood design. The design incorporates long term affordability and sustainability measures, regional trail connections, green spaces and community parks, innovative play structures, and a state-of-the-art community building.
Aspinwall at Josephine Commons – Under Willa’s leadership, Boulder County Housing Authority combined the revitalization of 95 scattered site, aging homes with the construction of 72 new townhouses and duplexes. Willa led the team to secure planning approvals and financing; and oversaw the construction process through successful lease-up.
Holiday Neighborhood – Willa was part of the project management team at Boulder Housing Partners that led the planning and development of the award-winning Holiday Neighborhood. This innovative public/private partnership created a 27-acre mixed income, mixed use and mixed tenure neighborhood with more than 300 homes, 42% of which are permanently affordable. Two of the most significant elements are the architectural variety and the fact that deed restricted homes blend seamlessly with market rate homes. Holiday Neighborhood is a national model for smart, affordable development.
Red Oak Park (Foothills) – Willa was part of the development and management team that redeveloped a 66-unit mobile home park that was facing serious functional obsolescence due to failing water, sewer, and electrical connections. With Boulder Housing Partners as the mission-focused owner, the goal was to displace as few residents as possible, and to provide an energy efficient, affordable replacement home that offered the same or better amenities as the mobile homes, including private open space for each home.
BHP & BCHA Asset Repositioning – In her work with the city and county housing authorities, Willa guided the refinance and renovation of more than 250 apartments for BHP, using a variety of strategies including a low income housing tax credit exit, and sale of several underperforming properties. For BCHA, Willa guided the refinance and renovation of assets in excess of $25 million. With a widespread and largely rural geography, this aging portfolio faced energy efficiency and high maintenance costs. Strategies included conversion of public housing to project based vouchers (HUD RAD), disposition of non-performing assets, combining renovation and new construction using Low Income Housing Tax Credit, and use of grants and low interest loans.