Wishrock develops and invests in affordable housing properties nationwide. Collectively, our principals have developed or redeveloped over 11,000 units of affordable apartment housing since the early 1970’s.
ACQUISITION STRATEGIES
Wishrock specializes in preserving affordable and work-force housing apartment complexes by leveraging tax credits or private capital with government backed debt, grants or other soft funding sources. Levels of rehabilitation vary depending upon the physical needs and acquisition strategy.
TRIPLE BOTTOM LINE
Wishrock’s primary focus is on preserving quality affordable housing for low-income and working-class residents; we have never terminated a subsidized rent contract. We take great pride in preserving the affordability of the communities we redevelop and, in our commitment to doing so, we place great emphasis on both improving the quality of the lives of our residents through dedicated empowerment services and operating at the forefront of sustainability. Our resident service programs are augmented and partially subsidized by our affiliated non-profit partners, and while some resident service coordination positions are funded through grants, more typically they are funded voluntarily by Wishrock through a project’s surplus cash flow. Our sustainability department is integral to our corporate culture, and as a member of the Department of Energy’s Better Buildings Challenge, we are committed to reducing energy consumption by 20% by the year 2024 across our portfolio.
