Real Estate and Property Awards 2020

51 Real Estate & Property Awards 2020 BUILD Sep20323 Best Affordable Housing Developer 2020 - USA Based in Wisconsin, Commonwealth is a team of highly experienced developers, contractors, architectural designers and property managers committed to the development of affordable housing. Following their success in the Real Estate & Property Awards 2020, we got in touch with Dan Kroetz, Senior VP of Development to find out more. ince 2001, The Commonwealth Companies has opened the doors to opportunity by designing and constructing world-class products for communities, partners, and families. To start, Dan provides us with a brief overview of the firm and offers more insight into its typical clientele. “As a team of highly experienced developers, architectural designers, construction professionals, and property managers, at the core of our business is the development of affordable housing that enhances the lives of the residents we serve and adds value to communities. Having developed over 100 affordable housing communities and more than 6,575 units across 17 states, we have been named one of the largest housing developers in the USA by Affordable Housing Finance (AHF).” “In addition to the development of affordable housing, our general construction, architectural design and property management companies help us design, build and manage our communities. It has become very evident there is a need for more affordable housing across the US, and for people to understand how this type of housing positively impacts a community’s growth and development.” As a community partner, Commonwealth works at both the state and local levels to ensure an effective collaboration takes place. Moreover, as Dan goes on to explain, this approach has been key to the development of some of the firm’s projects. “Working at both state and local levels has enabled us to meet the distinctive needs of the area and this is one of the reasons why we have such a successful track record of delivering high- quality projects that meet or exceed the goals of our clients and partners. We take great pride in ensuring that each project is delivered on time, on budget, and with attention to detail. We have a magnitude of experience in new construction and the adaptive reuse of historic buildings, where we have been able to “save” deteriorating buildings or landmarks and turn them into to a valuable community asset. Having some or all our companies involved in each project enables us to keep our standards high, but also allows us to form valuable partnership with other quality contractors & vendors.” More recently, Commonwealth has been involved in the first ever tax credit development in the City of Evans, as Dan goes on to explain. “Every project is unique and interesting which is one of the things that makes our work so fun. A recent project that comes to mind is our Mission Village of Evans development located in Evans, Colorado, USA. By utilising the remaining CDBG-Disaster Relief funds (a benefit extended to Greely County municipalities that were especially hard hit by the 2013 floods), we were able to build homes for families in need through our partnership with the Greely-Held Habitat for Humanity.” “In addition to our 68-townhome and cottage-style units for working families making at or below 60% of the area median income (AMI), Habitat is also developing a 25-unit affordable homeownership community adjacent to our project site.” Currently, the construction industry is going through a challenging time with heightened costs and a tightened timeframes to build, proving to be a constant struggle for everyone in the industry. However, as Dan points out, at Commonwealth the internal culture of the firm has played an integral role in the success of projects. “As a whole, we encourage a “family” mentality with an “all of us in it together,” frame of mind. Our One Commonwealth mantra reiterates that all the Commonwealth companies – development, construction, architectural design, and property management, play integral roles in the overall success of projects. It also further encourages inter-company collaboration and problem solving to better a project and overall bottom line.” Finally, Dan commented on the future of the Commonwealth, looking ahead to remainder of 2020 and beyond. “The foundation of our company’s continued success and growth is our employees. As a whole, we insist on hiring and retaining the absolute best and brightest talent available to strengthen our teams. Going forward, we are optimistic about the future and know our exceptional employees, entrepreneurial spirit, and commitment to communities will continue to open doors to new opportunities.” Web Address: www.commonwealthco.net S

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