Development Overview

The development department of Guardian Management specializes in navigating the complexities of development projects that have a multifamily element and utilize development incentives to achieve economic feasibility. It also handles the development of projects with standard commercial financing.

Where warranted, Guardian’s expertise is deployed to position projects to qualify for incentives ranging from Tax Increment Financing and Tax Exempt Bond Financing to tax credits available through the Low Income Housing Tax Credit Program, the National Historic Preservation Tax Incentive Program and the New Market Tax Credits Program. The company evaluates other local programs designed to improve feasibility of private developments as well as projects carried out in a public/private partnership.

In addition, where the specific project characteristics require or encourage such participation, Guardian serves as the developer of projects under contract to non-profit organizations functioning as the general partner of single purpose entities organized to develop projects with affordable housing components.

One example of a project requiring complex financing includes the renovation of The Crane Building. This historic building houses Guardian’s corporate offices as well as multiple commercial uses, loft apartments and two unique penthouses. The project used Historic Tax Credits, Tax Increment Financing, commercial bank construction financing, and permanent financing, as well as private equity raised from a number of investors.