Photo of Paul Bernard

AHC Board Names Paul Bernard New Chief Executive Officer

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Photo of Paul Bernard

Thursday, March 31, 2022

Arlington, VA — AHC Inc.’s Board of Directors is pleased to announce that Paul Bernard has been unanimously selected as the organization’s new President/Chief Executive Officer (CEO). He will join AHC in his new role on April 4.

Mr. Bernard brings nearly 30 years of experience in urban planning and real estate development, public finance and investing, community development and affordable housing. He has worked in both the public sector as well as the private sector and has extensive external leadership skills working with communities and government officials.  Throughout his career, Mr. Bernard has demonstrated a commitment to addressing economic and social issues, including housing as the foundation for economic success. He has made diversity, equity, and inclusion a cornerstone of his leadership.

Most recently, Mr. Bernard was executive vice president of advisory and educational services at the Urban Land Institute (ULI), a nonprofit research and education organization focused on issues affecting urban communities, including housing. In that role, he managed four international and global-oriented programs and provided development services to municipalities, corporations, students, and real estate professionals. He also led a program that provided dozens of clients with solutions in affordable housing, sustainability/disaster recovery, economic development, mixed-use master planning, urban regeneration, parks and open space and other land-use issues.

Prior to ULI, Mr. Bernard was vice president at Enterprise Community Partners, a Washington, D.C nonprofit improving the lives of low-income residents through housing preservation, community development and by bridging the racial equity gap. While there, he grew a $45M national public sector advisory platform. The consulting practice included 288 diverse clients, including 48 municipalities, 187 public housing authorities, and 53 foundations/nonprofits and private organizations.

Mr. Bernard also worked for Walker & Dunlop, the largest provider of capital to the multifamily industry in the US, as senior vice president of principal investments and prior to that for MMA Realty Capital as a public pension fund advisor. He also was the planning director for the City of Detroit from 1988 to 2002, overseeing $8 billion in new construction projects. And early in his career, Mr. Bernard worked for the Philadelphia Redevelopment Authority, identifying sites for acquisition and development. He currently sits on the Board of Lotus, which houses and includes wrap-around services for formerly homeless residents.

“I am honored to join the AHC team and have long admired the organization’s mission of providing quality affordable housing and outstanding resident services. I am excited about the opportunity to work with local leaders, advocates, and partners to provide much-needed homes and services throughout the Virginia, Maryland, and DC region,” said Bernard.

“Paul has a history of tackling a variety of housing challenges and a track record of leading real change,” says David Barsky, AHC Board Chair. “With his perspective in economics, finance and urban planning — coupled with his passion for affordable housing and its potential to transform lives– we’re thrilled to have him lead AHC forward in its next chapter.”

Mr. Bernard will replace Susan Cunningham who served as Interim CEO since July 2021 and will support AHC as a senior adviser.

Mr. Bernard holds a Bachelor of Science (BS) in International Finance from Georgetown University’s Edmund Walsh School of Foreign Service. He also holds a Master of Public Policy (MPP) in Urban Economics & Public Finance from Harvard University’s Kennedy School of Government. In addition, he has a Master of Business Administration (MBA) in Strategy & Finance from Georgetown University’s McDonough School of Business.

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About AHC Inc.

Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low-and moderate-income families. Based in Arlington, VA, AHC has developed more than 7,800 apartments in 50+ properties in Virginia, Maryland, and Washington, D.C. AHC’s Resident Services program reaches 3,000 children, teens, and adults and seniors each year through onsite education and social service programs and activities. Visit the AHC website for more information.

 Contact

Jennifer  Smith
AHC Inc. Communications Director
703-486‑0626 x1118
jennifer.smith@ahcinc.org

AHC Inc. Acquires First Prince George’s Property to Provide Affordable Housing in Fast-Growing Largo, MD

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The joint venture with Insight Property Group and FCP preserves affordable living opportunities in job-rich, metro-accessible Largo. Town Center

(March 29, 2022 – Arlington, VA) AHC Inc. with partners Insight Property Group and Federal Capital Partners (FCP) announce the purchase of the property formerly known as Camden Largo Town Center apartments for $71.9 million in Largo, MD. Forty percent (98 apartments) of the 245-unit community will be preserved as affordable for 15 years. The community at 9701 Summit Circle will be rebranded Haven Largo.

The opportunity was awarded through Prince George’s County’s Right of First Refusal (ROFR) program, which gives Prince George’s County Department of Housing and Community Development (DHCD) the authority to purchase properties to expand the availability of affordable rental housing in the County.

The commitment ensures that 10% of the property (25 units) are available to households earning up to 60% of the Area Median Income (AMI) and 30% of the property (73 units) are available to those with incomes at or below 80% AMI.

“AHC is delighted to acquire our first community in Prince George’s County in partnership with the County, Insight Property Group, and FCP,” said Mary Claire Davis, AHC Greater Baltimore Director. “We appreciate the County’s commitment to providing long-term rental affordability in such a prime location and look forward to adding programming and services to further enhance the quality of life for our residents.”

Haven Largo is an attractive, well-located garden apartment community in a tranquil setting in a quickly growing submarket in Prince George’s County, MD. The community is minutes from the Largo Town Center Metro Station and the Capital Beltway. Residents of the spacious one-, two-, and three-bedroom apartments have access to major employment centers including the nearby University of Maryland Capital Region Medical Center. Apartment amenities include in-unit washers and dryers, vaulted ceilings, kitchen pantries, and rentable garages. The community has a fitness center, swimming pool, grilling areas, and an outdoor gazebo.

“This multifamily apartment community sits in the heart of downtown Largo, a vibrant and growing retail center,” said County Executive Angela Alsobrooks. “With the new University of Maryland Capital Region Medical Center and the Blue Line Metro Station, downtown Largo is critical for our economic development vision along the Blue Line Corridor. With increasing market demand of rental property, exercising our Right of First Refusal program is not only helping us to protect and expand quality, safe homes that residents of all incomes can afford, but also plays a key role in contributing to the creation and preservation of healthy and inclusive communities where access to opportunity is increased.” 

“Insight is thrilled to partner with Prince George’s County, AHC and FCP on this acquisition, where we will be able to create much-needed affordable housing in an exceptional location,” said Tim White, Partner at Insight Property Group.

“FCP is excited to continue investing in our home market with the acquisition of a well-maintained and high performing asset in one of the top submarkets in suburban Maryland,” said FCP’s Scott Reibstein. “As part of our commitment to the preservation of moderately priced apartment communities in the Washington, DC region, we plan to offer resident services and implement affordability requirements to a portion of the units.”

About AHC

Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing that provides quality homes plus education programs and social services for low-and moderate-income families. Based in Arlington, VA, AHC has developed more than 7,800 apartment units in 50+ properties in Virginia, Maryland and Washington, D.C. AHC’s Resident Services program reaches 3,000 children, teens, adults, and seniors each year. For more information, visit www.ahcinc.org

About Insight Property Group

About Insight Property Group: Insight Property Group acquires and develops mixed-use and residential communities in the Washington Metropolitan area. Since its inception in 2009, it has built a broad portfolio of housing including affordable, workforce, mixed-use and luxury rental communities as well as infill for-sale townhomes. With more than $1.5 billion in investments, Insight has purchased, re-positioned and constructed more than 4,800 residential units and 200,000 square feet of commercial space with another 1,250 units and 120,000 sf of retail in the immediate pipeline. The company is recognized for delivering memorable, neighborhood-centric projects that create strong returns for its partners. For more information, visit www.insightpropertygroupllc.com.

About FCP

FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com

Generous Community Support Brightens Holidays for AHC Residents

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Generous community members helped make the holidays brighter for AHC residents of all ages with visits from Santa, Christmas trees, toys, and gift bags.

“We are grateful for the generous outpouring during the holiday season,” said Laura Jackson, AHC’s volunteer coordinator. “The support means so much to our families, many of whom are still struggling because of the ongoing pandemic. It was wonderful to see children’s eyes light up and also to experience the gratitude from our seniors – particularly those who aren’t able to visit with  family because of the pandemic.”

Amazon volunteers, including Santa, Mrs. Claus, and several elves, helped distribute 200 toys generously donated by Amazon employees from across the country. Gifts were also gathered through a toy drive organized by Wakefield High School’s Interact Club.

The Arlington County Police Department distributed nearly 1,100 toys to children living at AHC’s affordable apartment communities throughout Arlington. Children were able to choose brand new toys displayed on multiple tables at the community centers.

Volunteers from long-time supporter St. Peter’s Episcopal Church unloaded 40 Christmas trees at Woodbury Park/Frederick apartments, much to the delight of residents. Church volunteers also donated 160 toys to AHC children.

Volunteers at the Episcopal Church of the Resurrection, next door neighbors to AHC’s Spire apartment community in Alexandria, shared hot chocolate and toys with nearly 50 children.

Generous supporters dropped off almost 500 Holiday Gift Bags for senior citizens at our Arlington properties and to the middle and high school students in our education programs. The gift bags are filled with items like adult coloring books & colored pencils, fuzzy socks, hats & gloves, tea & hot chocolate and gift cards.

Donors include 28 individuals, Arlington Rotary Club, Microsoft, TMG Construction, 3 Girl Scout troops, Willis Towers Watson, Partner Forces, and Marymount University athletic teams (Women’s Lacrosse, Men’s Soccer, Men’s Lacrosse, Baseball, Softball and Assistant Athletic Director).

About AHC Inc.
Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low-and moderate-income families. Based in Arlington, VA, AHC has developed more than 7,800 apartment units in 50+ properties in Virginia, Maryland and Washington, D.C. AHC’s Resident Services program reaches 3,000 children, teens, adults, and seniors each year.

Waterfront Station II: Mixed-Income, Mixed-Use Development in Southwest DC

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Waterfront Station II, an innovative mixed-income, mixed-use project in Southwest Washington, DC, will include 450 homes, including 136 apartments (30% of the total units) that will be deeply affordable and available to households earning less than 50% of the area median income (AMI). Half of those will be set aside for households earning less than 30% of AMI. The $179.5 million project was strategically developed so the market units help subsidize the affordable apartments.

The affordable housing units were financed using both 4% and 9% Low-Income Housing Tax Credits (LIHTC). Ninety-four of the total affordable apartments are credited to the 4% LIHTC, while 42 of the affordable units are attributed to the 9% LIHTC. Land acquisition occurred in 2020, with a 99-year ground lease with the District’s Office of the Deputy Mayor for Planning and Economic Development. 

Located in the heart of Southwest DC, Waterfront Station II is situated less than one block from the Waterfront Station green line metro stop and three blocks from The Wharf neighborhood. Upon completion, the 12-story, 400,000-square-foot building will provide a mix of market-rate and affordable residences, and dynamic retailers that will serve the community, including a performing arts/theater space; AppleTree Public Charter School, a DC-based early childhood education provider; and a neighborhood restaurant by Good Company Doughnuts, with an additional 7,000 square feet of retail space available for lease.

The new project is creating committed affordable homes in a neighborhood that is rapidly gentrifying. Conveniently located next to the Waterfront Metro station, the new development will enable hardworking families and individuals to put down roots near jobs, transit and other opportunities they might not otherwise be able to afford.

Waterfront Station II, expected to start welcoming new residents in 2023, is a joint venture of AHC Inc., Hoffman & Associates, CityPartners, and Paramount Development. Capital partners include Merchants Capital, Grosvenor Americas, and The Richman Group. 

Project News

Merchants Capital Provides $141M Financing for Mixed-Income Multifamily Development in Southwest D.C., REBusiness Online, 1-21-22

Waterfront Station Phase in Southwest DC Finally Officially Breaks Ground, Urban Turf, 12-13-21 

Affordable Housing Developer AHC Inc. Announces Plans to Transition its Property Management Services to Third-Party Providers

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(December 7, 2021 – Arlington, VA) – Nonprofit affordable housing developer AHC Inc. announced that it plans to transition its property management services to third-party management companies starting in 2022. While managing the transition process into the new year, AHC Inc. will continue to focus on its mission to provide quality affordable housing and resident services, while engaging with residents and local leaders to help individuals and communities thrive.

“This decision comes after a thorough and careful examination of our residents’ and employees’ needs, current industry trends, and AHC’s long-term strategic goals,” said Susan Cunningham, Interim CEO of AHC Inc. “For over 20 years, AHC Management has served thousands of families well and built community across dozens of properties.”

“Transitioning AHC Management’s services to third-party providers will enable us to both provide our residents with the best-in-class service they deserve and to re-focus our efforts on what we do best – developing much-needed affordable housing and building brighter futures for families throughout Virginia, Washington, D.C., and Maryland, added Cunningham.

“AHC Management’s relatively small scale combined with two years of pandemic challenges, supply chain issues, and persistent labor shortages also contributed to the change,” said Cunningham. “About a third of our portfolio is currently managed by third-party companies and we are confident this is the best path forward.”

The four property management companies selected to take over the management of AHC’s portfolio of properties include: Drucker + Falk, Harbor Group, Paradigm Management, and WinnResidential. AHC has worked closely with the four companies to position employees and residents for a smooth and successful transition of each property over the next four months. Each of the third-party management companies intends to retain onsite AHC Management staff at the same property with similar job title, pay, and benefits.

Cunningham added: “We believe that transitioning the day-to-day management of AHC’s communities to this diverse group of well-respected third-party management companies will further enhance residents’ experience. It will also create high-quality career opportunities for the AHC Management staff currently serving these properties.”

Cunningham also noted that the announced transition will not hinder the organization’s ongoing commitment to elevating residents’ voices through a variety of community engagement efforts. In recent months, AHC expanded its staff with a new community engagement assistant director, as well as six new Board members who represent a variety of lived experiences. Later this month, the nonprofit also plans to launch a joint CEO-Board organization-wide community engagement initiative.

About AHC Inc.

Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low-and moderate-income families. Based in Arlington, VA, AHC has developed more than 7,500 apartment units in 50+ properties in Virginia, Maryland, and Washington, D.C. AHC’s Resident Services program reaches 3,000 children, teens, and adults and seniors each year through onsite education and social service programs and activities. For more information, visit https://www.ahcinc.org/