Hanley Wood

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PROJECTS PROGRAMS

• New Multi-Family Apartments
• Acquisition/Rehab Multi-Family Apartments
• CROWN Homes (Single-Family Rental)
• Subdivision Development

• Mutual Self-help Housing
• Construction Division
• New Single-Family Homes
• Asset Property Management
• Rental Assistance

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SERVICE AREA PROJECTS
RICHFIELD
UTAH
EXISTING
PRE-DEVELOPMENT Or CONCEPTUAL
TROPIC
ENOCH
CEDAR CITY
MOAB
SPRINGDALE
NEVADA
ST. GEORGE
HURRICANE
MESQUITE
KANAB
PAGE
LOGANDALE
LAS VEGAS
ARIZONA
BOULDER CITY
FLAGSTAFF
KINGMAN
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RED HAWK VISION

• Beautiful design, in-sync with surrounding canyon
  cliffs.
• Affordable to seasonal, service/resort workers.
• Energy Efficient, Xeriscaped.
• Mixed-income Community.

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RED HAWK CHALLENGES

• Rural project had to Compete in General LIHTC
  Pool
• Endangered Species--Desert Tortoise
• Surprise! Flood Plain!
• Nasty PoliticsAntagonistic Planning Commission
• Expansive Soils

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RED HAWK REALTY

• 24 Total Units (22 LIHTC, 2 Market)
• Average AMI 43 Lowest units at 37
• 1, 2, 3 Bedroom Units, Rents start at 370/mo.
• Spacious units, Good Amenities

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LESSONS LEARNED

• Dont Go Cheap on your Development Team.
• Politicians can sometimes be useful.
• Relationships are everything.
• Never, never, never give up --Winston C.

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RED HAWK PARTNERS

• American Express
• Enterprise Community Partners
• Utah Housing Corp.
• Rural Community Assistance Corp.
• Utah Community Reinvestment Corp.
• State of Utah
• Town of Springdale
• Kier Construction

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Single Family Mixed Income Community Model

• Encourage Healthy Mix Income Levels In each
  Community.
• Develop High Quality Homes, based on Community
  desires.
• Use Profits from Market Rate Sales to
  Self-Subsidize Affordable Homes.
• Retain Equity Position provide enhanced
  Affordability Periods

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RedHawk Homes--Springdale
Market Rate Home 620,000 Moderate Home
240,000 Affordable Home 150,000 Cost Basis
295,000
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Whats Next?
Whats Next?
Yosemite? Yellowstone?
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Whats Next?
Whats Next?
Yosemite? Yellowstone?