Hollyhand Development, LLC, brings a combined 50 years of experience working with all facets of affordable housing development including extensive experience developing, financing, constructing and managing housing utilizing financing through the low-income housing tax credit program. We have successfully developed more than 30 projects using tax credits. Included among these projects are 11 phases of public housing redevelopment, comprising over 1000 units (this includes projects under construction and projects financed with 4% tax credits).
We have an excellent track record in obtaining 9% allocations on PHA redevelopment projects in Alabama, by far the most critical financing tool in PHA redevelopment. We have raised well over $150 million in equity for public housing redevelopment projects in Alabama and been successful on ten of twelve 9% LIHTC applications it has submitted in Alabama for public housing redevelopment projects (both mixed finance and RAD). Overall, we have been successful on 13 of the last 16 9% LIHTC applications. These phases comprise 5 separate public housing community redevelopments efforts.