Renewal Housing Associates, LLC, an affiliate of LNWA formed in July 2001 by LNWA and David Lakari & Associates, LLC, of Portland, Maine., acquires and rehabilitates existing federally assisted rental housing and preserves it as affordable housing for low- and moderate-income residents.
Many older affordable housing developments need to be repositioned. Some are at risk of conversion to market rate uses. Many have deferred maintenance issues and need major rehabilitation. Because of changing tax or financial considerations, owners may need to sell their properties, or general partners may need to exit their partnerships.
Renewal specializes in recapitalizing older subsidized properties to keep them affordable. Renewal has the experience and resources to put complex deals together that address these issues in ways that benefit owners, residents, and their communities.
Renewal acquires older affordable housing properties and successfully renews them for future generations of low-income residents. The company uses new capital and new programs to rehabilitate old buildings. Renewal focuses its efforts on the acquisition of properties located in both the Mid-Atlantic and Midwestern regions.