Summit Housing Group has developed 14 properties to date and currently have 2 under construction. None of this would have been possible without partnering with community organizations, banks, architects, engineers, and contractors. Below is a list of the organizations that have helped Summit Housing Group develop these properties.
|Highland Property Management, Inc.
Summit Housing Group's sister company Highland Property Management provides and professionally manages the finest quality affordable multi-family housing. In December 2003, Summit Management Group, Inc. (SMG) began developing and managing properties in Western Montana. Continuing growth led to the creation of Highland Property Management, Inc. (HPM) in October 2007 and our development partner, Summit Housing Group, Inc. (SHG). A wholly owned subsidiary of SMG, HPM has 16 employees and manages 13 LIHTC (Low Income Housing Tax Credit) multi-family properties containing 638 units along with one 28 unit conventional property in Montana and Wyoming. Currently they are ramping up management plans for 2 projects in Sheridan, a 48-unit LIHTC multi-family project as well as a 42-unit LIHTC senior project slated to open Fall 2012.
|Wyoming Community Development Authority|
Summit Housing Group has partnered with the WCDA to construct over 352 Affordable Apartments to Wyoming. WCDA was created by state statute as a body corporate operating as an instrumentality of the state and receives no state funding. WCDA raises capital for the mortgages it provides by selling mortgage revenue bonds to investors. Since the interest paid to bond holders is generally exempt from federal income tax, investors accept a lower rate. The WCDA passes these savings on to homebuyers by providing mortgages at below-market interest rates.
|Montana Board of Housing|
Summit Housing Group has partnered with the MBOH to construct over 154 Affordable Apartments in Montana. The Housing Division’s purpose is to create affordable housing opportunities for Montanans whose needs are not met by the market. They accomplish this by partnering with local housing organizations across the state to leverage the federal funding that is made available to Montana.
|Boston Capital – Syndicator who Summit Housing Group has partnered with on three developments to date. Boston Capital is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,452 multifamily apartment properties in 49 states and the District of Columbia, constituting more than 158,947 apartments with a development cost in excess of $12 billion. Boston Capital is the largest owner/investor of apartment properties in the US. |
Richman Group – Syndicator who Summit Housing group has partnered with on nine developments to date. Over the last quarter-century, The Richman Group has thrived and grown into one of the nation's ten largest residential property owners.The Richman staff is strategically situated in 8 regional offices from north to south and coast to coast and serves communities in 49 of the 50 United States as well as 3 U.S. Territories.
Mountain Plains Equity Group – Montana based syndicator who Summit Housing Group has partnered with on two developments to date. Mountain Plains Equity Group, Inc. is dedicated to the development of affordable housing units. By providing equity investment capital and other key resources to project developers, MPEG is working to enhance the quality of life and to promote sustainable growth in our communities.
Citibank – Bank who has provided financing on numerous projects. Citi Community Capital provides forward-thinking financing solutions for the community development industry. They offer a comprehensive product suite, delivering innovative business structure and unparalleled resources to handle the most complex transactions.
First Interstate Bank – Montana based bank who has provided Summit Housing Group financing on numerous projects. First Interstate Bank provides commercial real estate financing for such projects as office buildings, warehouses, apartment complexes and a wide range of other commercial, industrial and income properties.
U.S. Bank – Has provided Summit Housing Group Financing on numerous developments. U.S. Bank offers programs to assist communities in the construction, rehabilitation, and acquisition of rental housing for low- and moderate-income individuals and families. The Community Lending Division, specializing in multi-family housing, was created to combine our expertise in real estate and our experience in the field of affordable rental housing to address the needs of disadvantaged communities as well as individuals in need of affordable housing. U.S. Bank's lending programs are intended for multi-family rental, senior rental, single rental occupancies, tax-credit developments, tax-exempt bond financing, projects assisted by tax-increment financing, special-needs housing, affordable single-family-for-sale and attached-for-sale, mixed-income projects, mixed-use projects, and commercial redevelopment projects.
Ravalli County Bank – Hamilton, MT Bank who has provided Summit Housing Group Financing on numerous projects. Projects financed include the Moutain View propeties in Hamilton.
Oakwood Construction – Summit Housing Group’s primary builder in Wyoming. Oakwood Construction Company was established to provide outstanding development and construction services for multiple dwelling apartment complexes in locations across the United States. It provides overall construction services including preparation of construction budgets, negotiations with and selection of subcontractors, preparation and approval of all contracts, supervision and coordination of the ongoing construction, and preparation of draw requests. Oakwood’s efficient, highly motivated and qualified group of professionals produces apartment projects within strict time and budget constraints.
Quality Construction – Summit Housing Group’s primary builder in Montana. Quality have completed projects in Hamilton and Lolo, MT. Quality Construction has 40 plus years of successful providing construction services to Missoula and Western Montana. Quality has experience in general contracting, construction management, design/build, new buildings, renovating existing buildings, and custom additions.
Economides Architects – Summit Housing Group’s primary architect for the Wyoming projects. Economides Architects, LLC have provided architectural and land planning services since 1971. Through their decades of experience in various facets of design, our firm has enjoyed providing services required to complete projects of any complexity. The primary goal of the firm is to service the Client with progressive thinking, contemporary philosophy of design, and economic priorities.
Oz Architects – Has partnered with Summit Housing Group to develop 5 projects. They have been providing architectural and planning services since 1992 when Jim O'Neill and Stan Zimet and joined practices creating O’Neill & Zimet Architects. In 1999, the firmed changed its name to “OZ Architects”, and eight years later, Dennis Greeno and Marty Noyd became the Principals in Charge. They are proud of their ability to provide these services to a wide range of clients, from businesses and medical facilities to non-profit entities and individuals.