Rockabill has expanded its client services to include development and joint venture arrangements. For each new project, the Rockabill Team brings their extensive knowledge and deep understanding of the business to develop a project that meets the mission of the organization and the needs of the community all while preserving affordability. Structuring the best debt and equity components for the project is crucial and Rockabill has the tools and relationships to execute top-notch results.
With over a decade of experience collaborating with Federal, State and City finance agencies, creating cutting edge financial modeling, and by forming some of the most effective construction and development teams in the affordable housing industry in New York, Rockabill has garnered an outstanding reputation in real estate financing. Building on their success of having worked on the planning and renovation of thousands of units of affordable housing, Rockabill now acts as direct owners or joint venture real estate developers. This new focus has already resulted in the completion of several successful new properties.
As direct owners or partners, Rockabill’s approach determines the best use of sites, creates outstanding development teams, and utilizes innovative funding models for each new project.
Rockabill is actively acquiring existing affordable housing properties by working with for profit owners or nonprofit organizations to execute a disposition strategy that both preserves the affordability of the project for the long term, while maximizing the upgrades to providing the optimal return from a tax strategy.
Working in a productive collaboration with their partners to achieve shared outcomes, Rockabill approaches real estate development by:
Rockabill will utilize their knowledge of the affordable housing industry, local communities, politicians and government agency staff, specific social and economic issues facing each neighborhood and development site and engage with key stakeholders in the process to ensure the project’s success.
Formulating an expert team including private banks, syndicators, government partners, nonprofits and more.
Underwriting the project – noting the hard and soft costs of the development, incorporating and layering the best use of applicable government programs, funding resources, grants, entitlements, abatements, etc.
Managing all aspects of the development process from funding applications, construction monitoring and requisition payments to team communications, addressing legal and title issues and converting from construction to permanent financing.
Completing cost certifications, reviewing escrows for long-term building maintenance and outlining best practices for managing the property.