Image courtesy of Peter Pitassi Architects

Mission Heritage Plaza

Image courtesy of
Gonzalez Goodale Architects.

Real Estate

Project Development and Management

DRA provides comprehensive project development and management services to developers and/or public agencies. Services include, but are not limited to, financial feasibility and market analysis, financing plans, negotiation of debt and equity, selection and negotiation of developers and developer team members, such as general contractors, architects, engineers, property management agents, brokers and others. DRA’s project development management services provide full service support to both public and private sector agencies seeking to expand their capacity or add sophistication to each step of the development process.

Rosewood Terrace, Oregon City, OR

DRA provided comprehensive development and financial assistance to the Housing Authority of Clackamas County for the development and financing of 212 units of very low income family housing on a transit oriented development (TOD) site outside Portland, Oregon. The project's financial structure was complex and challenging, facing threats from the 2017 Tax Reform Act, and an innovating financial structure, employing FHA mortgage insurance, bank financing, Low Income Housing Tax Credits, tax abatements from the County, as well as small gap financing and project based vouchers from the Housing Authority. Total project sources totaled $60 million.

Mission Heritage Plaza, Riverside, CA

The Fair Housing Council of Riverside California (FHCR) retained DRA to assist with the development of a mixed-use project in Riverside's historic Raincross District. The development, Mission Heritage Plaza, will contain new offices for FHCR, a Civil Rights Institute and affordable housing. DRA has completed a feasibility analysis and recommendations for the development, advised FHCR on the selection of Wakeland Housing and Development Corporation as the project developer, and performed a due diligence review to negotiate the agreement between the parties. Transit oriented development will play a key role in the planning, development and financing of the project. DRA also provided support to FHCR in securing financing commitments for the project, focusing on the Riverside County Board of Supervisors, Riverside County Economic Development Administration and Housing Authority, and private institutions such as banks and foundations.

San Sevaine Villas, Rancho Cucamonga, CA

DRA provided comprehensive project development management services for this $60 million, 225-unit family rental housing development. Services included selection of the general contractor, architect, civil engineer, structural engineer, energy consultants, preparation and negotiation of all project financing, review of construction administration, negotiation and property management services and oversight of marketing and lease up.