History
Commonwealth Multifamily Housing Corporation is a corporate consolidation of more than 45 years of involvement in national affordable housing policy, community development, resident services and residential financial strategies. Beginning with the formation of a national nonprofit organization—The Neighborhood Development Collaborative, in Washington, D.C., the principals of Commonwealth for nearly 5 decades have created and revitalized affordable housing communities from coast-to-coast utilizing a uniquely entrepreneurial and business-oriented approach to affordable and workforce housing.
Commonwealth Multifamily Housing Corporation today is the asset manager and general partner of 16 affordable housing communities, primarily in Texas, comprising over 1800 family and senior rental apartments in multiple markets from San Antonio to Dallas to Corpus Christi. For details and photographs of our properties click on the tab "Communities."
During the decades, since the formation of the Neighborhood Development Collaborative, the organization has owned, operated and asset managed more than 45 affordable housing properties from Maryland to Florida, Georgia, Mississippi, Texas, California, and Nevada. In addition, affiliates comprising the organization have been active in affordable housing, community development, senior housing, veterans' health and housing, sustainable design and development, real estate development higher education, and research, symposia and publications addressing one or more of these issues. The organization has participated in various creative financings in support of affordable housing projects from time to time, as well as philanthropy focused on student scholarships and veterans' health and housing. For more information about our affiliates check the tab "Governance".
Commonwealth Multifamily Housing Corporation was formed as a nonprofit corporation under the laws of the state of Pennsylvania in July of 2000 with the initial mission of creating affordable housing for seniors in the Mid-Atlantic States. Prior to embarking on its plans there, Commonwealth was presented with the opportunity to participate in an exciting project in Texas. In a true collaboration of public, private and nonprofit organizations to carry out legislative intent, Commonwealth joined forces with a Dallas home builder, a national bank and a state of Texas bond issuer to design, finance, develop, construct and lease up White Rock Apartment Homes, a 336-unit affordable multifamily community in northeast San Antonio.
Originally designed by Centex Homes for the upscale multifamily market, White Rock stood to benefit from favorable Texas property tax laws implemented to encourage the creation of affordable housing. A search went out for experienced nonprofit professionals capable of meeting the federal and Texas requirements for operating a Community Housing Development Organization (“CHDO”). White Rock needed to be owned by a CHDO to qualify for a 100% ad valorem property tax exemption (the “CHDO Exemption”) that would make construction and operation of the property feasible.
The search settled upon John Carlisi and David Cole, senior executives of Neighborhood Development Collaborative, an affordable housing and community developer-operator organized in 1978. Carlisi and Cole then took the helm of Commonwealth to guide it towards creation and ownership of White Rock.
The Commonwealth team became involved in much of the site development process, primarily working with federal and local government authorities. These activities ranged from what became extensive drainage issues from the city planners’ view to assuring that no endangered species of wildlife were threatened by the new project. Unique amenities such as the car wash facility, trash compactors, garages, storage units and a nature area brought unique challenges as well as benefits for affordable housing.
Bordered on three sides by single-family homes, the Commonwealth team had to ensure its neighbors that fears of disruption of their tranquil neighborhoods were unwarranted. Working closely with officers of the respective neighborhood associations, Commonwealth dealt successfully with a variety of concerns including storm water control, noise, visual privacy, cutting across lawns and fence preservation. In the ultimate commitment to neighborhood cooperation, Commonwealth shares equally in the maintenance costs for one association’s fence that separates its single-family homeowners from White Rock. The homeowners and the renters continue to live in peaceful coexistence.
