Multi-Housing News - March 2009 - (Page 8)

executive insight Green, Affordable and Urban Jonathan Rose hits the right notes in community development Jonathan Rose is president of Katonah, NY-based Jonathan Rose Cos. LLC, an organization known for creating communities that blend housing, employment, green spaces and public transportation. Rose believes mixed uses, mixed incomes and sustainability are keys to success. He talks to MHN Contributing Editor Jeffrey Steele about the principles underpinning his development philosophy. Why and how did you get involved with the Enterprise Foundation? I love Enterprise. My hero was Jim Rouse, the founder of Enterprise, an extraordinary developer. Since I am deeply committed to affordable housing, and Enterprise is a leading provider of services to the affordable housing field, it made sense to get involved. My family endowed a wonderful program, The Frederick P. Rose Architectural Fellowship, which places young architects in community development organizations to assist them in financing and developing affordable housing. Enterprise invited me to join its board, and I helped them think through its programs for the greening of affordable housing. How have you overcome the challenges of the credit crunch? Because our work is green, affordable and urban, we are able to access CRA financing. We closed on the financing of four projects in NovemberDecember 2008, at a time when very few people were getting projects financed. We were able to do this because the projects qualified under the Community Reinvestment Act, which encourages banks to invest in affordable housing in low-income communities. There are still funds flowing in the CRA world, but one has to understand that business. We have very conservative credit structures, using Fannie Mae and Freddie Mac guarantees, lots of tax credit equity and public support to make our projects financially conservative. And we have a perfect track record, never having Q&A SM NEW! e-Max Apartments Humphreys & Partners Architects is excited to present their latest signature design—e-Max . e-Max is a high-eﬃciency apartment structure that rests on wood-constructed garages rather than a concrete podium. It’s an apartment design that deserves a second look. SM *Varies by project ©2009 Humphreys & Partners Architects, L.P. SM Servicemark of Humphreys & Partners Architects, L.P. For more information, visit www.multi-housingnews.com/productinfo 8 March 2009 | Multi-Housing News | Official Publication of Multi-Housing World http://www.humphreys.com http://www.humphreys.com http://www.multi-housingnews.com/productinfo

Table of Contents for the Digital Edition of Multi-Housing News - March 2009

Multi-Housing News - March 2009
Contents
From the Editor
Executive Insight: Jonathan Rose
Profile: How Owners are Riding Out the Storm
Market Report: Southern California
Development Case Study: A City in the Sky
Finance: Small Loans
Property Management: Marketing Magic
Products: Submetering
Kitchen & Bath: Water and Energy Conservation

Multi-Housing News - March 2009