American Community Developers, Inc.
——————————————————————————————————————————
20250 Harper
(313) 881-8150
Detroit, MI 48225
Fax (313) 884-0722
Experience and Reputation
American Community Developers, Inc. (“ACD”) is a Michigan
corporation that was incorporated in 1980 for the purpose of
acquiring, developing, constructing and managing real estate.
Gerald A. Krueger is the President and founder of ACD.
Mr.
Krueger has participated as a principal in the development or
acquisition and rehabilitation of various real estate properties,
which includes the current portfolio of approximately 10,853
multifamily units (see Portfolio Listing).
Mr. Krueger is an
Active Member in the Apartment Association of Michigan and the
National Apartment Association. ACD and its affiliated entities
actively pursue the acquisition and rehabilitation of older, HUDassisted properties, as well as the development of new affordablehousing properties. ACD’s executive staff also includes: (a) Vice
President Thomas R. Lacey, MAI, with 25 years of acquisition,
development, consulting and valuation experience in affordable
housing and various other real estate sectors, (b) Vice President
Jeffrey A. Supowit, a real estate attorney with 25 years of
experience in affordable housing, (c) Vice President John A.
Williamson, a real estate financier with 20 years of experience in
affordable housing and development and (d) Vice President Carl E.
Skrzynski, an attorney, developer and general partner in 12 LIHTC
communities separate from ACD holdings, with 27 years of
experience developing affordable housing.
ACD has purchased HUD-financed properties from Apartment
Investment and Management Company (“AIMCO”), Security Properties,
Real Property Services (“RPS”), Housing Preservation Associates
(“Rozet”), the National Housing Partnership (“NHP”) and Grand
Court Lifestyles ("GCL") as well as governmental and quasigovernmental organizations and individual owners. As of January,
2013, ACD is the general partner of limited partnerships and
manager of limited liability companies that own 80 affordable
housing properties in 9 states.
In addition to LIHTC financing and Tax Exempt bond financing,
ACD has secured other types of financing for its properties
including MSHDA Preservation Loans, HOME Loans, Section 241 Rehab
Loans, Federal Home Loan Bank Grants / Loans, HUD Drug Elimination
Grants, Weatherization Grants and various state agency trust
funds.
ACD has demonstrated an ability to learn, adapt and
compete effectively for affordable housing financing that has
become increasingly difficult to obtain.
1
ACD
values
the
benefits
it
derives
from
positive
relationships with its limited partners, nonprofit partners and
its agency relationships.
ACD has established an excellent
relationship with syndicators that provide the limited partner
equity, including Boston Capital, MMA Financial LLC, The Richman
Group, Franklin Capital, Raymond James & Associates, WNC &
Associates, Comerica Bank, PNC Multifamily Financing, Centerline
Capital Group (f/k/a Charter Mac Capital) and Great Lakes Capital.
ACD
has
developed
relationships
with
several
nonprofit
corporations that serve as co-general partners, special limited
partners, social service coordinators and as consultants. Frank
Carswell and Independent Management Services have been selected to
perform the marketing and management responsibilities at all of
ACD's properties.
IMS specializes in management of affordable
housing properties and is frequently recommended by various HUD
field offices to owners of troubled HUD properties.
2
American Community Developers, Inc.
Portfolio Listing
Location
City
Garden Manor
Jonesboro
North Acres
Jonesboro
Auxora Arms Apartments
Little Rock
Eastview Terrace Apartments
Little Rock
Village Park South I
Texarkana
Village Park South II
Texarkana
Imperial Homes North & South
West Memphis
Taylor Apartments
Apopka
George Washington Carver Apartments Naples
Ocala Place
Ocala
Sutton Place
Ocala
Storey Manor
Cottage Hills
Bissell Apartments
Venice
Town & Country Apartments
Elkhart
Clemens Court Apartments
Clinton Twp
Newport Apartments
Clinton Twp
Braidwood Manor
Davison
Across the Park Apartments
Detroit
Clement Kern Gardens
Detroit
Elmwood Towers
Detroit
Fairview Apartments
Detroit
Forest Park
Detroit
Freedom Place Apartments
Detroit
Joy West Manor Apartments
Detroit
Martin Luther King Homes I & II
Detroit
McCoy Townhouses
Detroit
Parkview Tower & Square
Detroit
Gardenview Apartments
Flint
Ridgecrest Village Townhouses
Flint
River Village
Flint
Bella Vista Glen
Highland Park
Bishop GD Moore Apartments
Highland Park
Town Center Apartments
Highland Park
Harbor Village Apartments
Holland
Woodruff Estates
Hudson
Thompson Tower
Inkster
Blair Park
Jackson
Fox Ridge Apartments
Kalamazoo
Property Name
3
State
AR
AR
AR
AR
AR
AR
AR
FL
FL
FL
FL
IL
IL
IN
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
No. of
Units
48
48
100
100
50
50
120
100
70
40
130
50
92
72
160
168
100
201
87
168
99
160
352
78
481
74
350
118
163
340
138
103
63
120
24
300
100
216
American Community Developers, Inc.
Portfolio Listing (continued)
Property Name
Northwind/Hilltop Apartments
Westland Meadows Apartments
Greentree Apartments
Whitney Young Village
Village Creek
Silver Maple Village
Bayview Tower
Quail Meadow
Ginger Square Apartments
North Hill Farms I & II
Spring Lake Village
Grandview Tower
Rivergreen Apartments
Woodside Square Apartments
Mari Dan Miller Farms
Chidester Place Apartments
Cross Street Village
Forrest Knoll / Arbor Manor
North Hills Apartments
Cambridge Heights
Jeffersonian Apartments
Spring Hill Apartments
Boardwalk / Glenville Apartments
Park Place Apartments
Shaker Boulevard Gardens
Mount Vernon Plaza I & II
Wedgewood Village
Midview Crossing
The Lakewoods
Lakewoods II
Lakewoods III
Southgate Woods Apartments
Freeland Elderly Apartments
Maple Hill
Elkhorn Towers
Location
City
Kalamazoo
Kalamazoo
Kentwood
Kentwood
Lake Orion
Lapeer
Muskegon
Muskegon
Owosso
Pontiac
Pontiac
Port Huron
Riverview
Romulus
Swartz Creek
Ypsilanti
Ypsilanti
Ypsilanti
Jackson
Natchez
Natchez
Akron
Cleveland
Cleveland
Cleveland
Columbus
Columbus
Elyria
Toledo
Toledo
Toledo
Toledo
Freeland
Mt. Pleasant
Welch
4
State
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MI
MS
MS
MS
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
OH
PA
PA
WV
No. of
Units
161
150
152
72
20
175
201
120
108
525
250
111
80
85
150
151
104
311
96
94
47
351
173
122
73
376
868
138
89
48
42
100
63
72
101
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