Kronenberg Enterprises

🏡 Hey DC Affordable Housing Developers! Ready to spice up your game and create 4% LIHTC housing with $0 gap financing? Buckle up for a rollercoaster of controlled variables meant to blow your construction hats off! Site Selection: 1.🎯 Hit those federally designated DDA or QCT areas! 2.🎁 Land donations – nothing like a win-win for both sides! Product/Construction Type: 1.🌳 Get cozy with cost-friendly product types (garden style, 2 over 2s, townhomes). 2.💸 Aim for total project costs of $315,000 per unit – because lower costs are the new cool. Development Program: 1.🎯 Target those unit sizes to generate operating income of $13.75 / GSF or higher (this is the magic number!). 2.🛏️ LIHTC income is driven by bedroom count, let's design better units! 3.🚗 Surface parking (1:1 ratio) Magic Development Yield Ratio: 4.25% and above. Other Key Assumptions: 1.💼 Operating Expenses of $6,500 per unit – 35% of EGR 2.🏠 First Deed financing @ 1.15 DSCR and 7% interest rate 3.💰 LIHTC Credit Pricing of $0.90 cents on the dollar See attached underwriting for more details! Supporting Data: 📈 Northmarq's monthly affordable rate sheet: ·        📉 November Section 221 (d)(4) rate estimate: 6.7% to 7.0% ·        ⚖️ DSCR for projects w/10-89% restricted units: 1.15x   📊 Per Virginia Housing: 2022 4% New Construction Credit Applications: ·        💰 Average Total Project Costs: $236/total floor area ·        🏢 Average Operating Expenses: $6,220/unit ·        💸 Average Credit Pricing: $0.90 cents   Want to learn more, or better yet, build more? Great! Partner with us at Kronenberg Enterprises. We're ready to use our proprietary tools and data to help you achieve your development goals. Let's tackle our Nation’s housing shortage the smart way! 📩 Contact us today at devpro@kronenbergenterprises.com for a backstage pass to the full underwriting and assumptions. #AffordableHousing #RealEstateDevelopment #LIHTCFinancing #DevProInAction #HousingHustle #SmartDevelopment #UnderwritingUnleashed

As the year concludes, we are grateful for the connections and partnerships made at Kronenberg Enterprises. In the coming year, we look forward to collaborating with inspiring forces in the industry to address our nation's housing needs head-on. We are excited about the journey ahead and aspire to grow, innovate, and partner with others to find new solutions. With the right expertise and tools like our ground breaking software, DevPro, we are confident the solutions are around the corner. Wishing everyone a joyful holiday season and a prosperous New Year! 🎉🏡 #Togetherness #NewYearWarmth #Gratitude #HolidayCheers

🏡 Attention Affordable Housing Leaders! Since the onset of federal rate hikes, we've witnessed an average 4% increase in senior loan rates. This alone has transformed the standard 20% LIHTC gap into a staggering 20-40%. 💸 Consider this: If localities once contributed $125,000 per unit to make affordable housing deals viable, they would now need to double that, requiring $250,000 per unit per project. Imagine a 100-unit project—this translates to a hefty $25 million in local funding. At Kronenberg Enterprises, we recognize the challenges this presents. That's why we're here to assist Housing Departments, developers, and stakeholders in navigating these complexities and structuring deals that optimize the efficiency of federal and local funding for affordable housing projects #optimizetaxdollars. Ready to tackle the challenge head-on? Reach out to us directly on LinkedIn. Together we can reduce the financing gap and make your next affordable housing deal possible. #DevPro #BetterUnderwriting #SmartDevelopment. 🤝💼 #AffordableHousing #LIHTCFinancing #FederalRates #RealEstateDevelopment #DevProInAction #HousingDepartments #FairfaxCounty #LoudounCounty #ArlingtonCounty

🌟 DevPro Unleashed: Bridging the LIHTC Financing Gap! Let’s embark on a new era of real estate optimization with #DevPro! 🚀 💡Insightful Data from Virginia Housing: In 2022, Virginia Housing reveals an average $75,000/unit funding gap for all 4% new construction credit applications. 🏡 Smart Site Selection, Design, and Programs: Why settle for average financing gaps? DevPro targets optimal programs, designs, and site selections, prioritizing favorable variables. Let's strategically craft each project for resource optimization and extend the reach of local tax dollars in affordable housing production. 📊 Data-Driven Efficiency: DevPro empowers data-driven decisions, ensuring projects are not just efficient but financially optimized. It's about building smart, not just building! 🚀 Join the DevPro Excitement! Ready to elevate your real estate development approach? Connect with us to explore how DevPro unlocks success in your next project. Let's turn data into dollars and redefine possibilities in affordable housing! 🏡💡 #DevProInAction #ResourceOptimization #LIHTCFinancing #RealEstateDevelopment #DataDrivenDecisions Check out our fact sheet and services. PS: Stay tuned for DevPro in action, demonstrating a path to a lower financing gap. Coming soon! 🌐🔍

🏡 Big shout-out to #TysonsCommunityAlliance for an incredibly informative workshop on accessing housing in Tysons! The discussions were truly eye-opening. The frequent use of "proforma" and making the numbers work caught our attention. It aligns with our mission at Kronenberg Enterprises to provide tools addressing crucial questions about housing production in our region. We believe it is the perfect time to empower all stakeholders, including #PublicSectorStakeholders and #CommunityImprovement groups, with the same decision-making tools used by Private Sector and developers alike. Let's use these tools on all sides of the equation to inform policy decisions, break down attainable housing challenges, and create innovative solutions. Here's to shaping a brighter future for housing in our region! 🌐🏠 #AttainableHousing #EconomicDevelopment #HousingSolutions #DevProInAction PS: Whether you need advisory services to help answer critical housing questions or are an expert in the industry looking for a more powerful tool, at Kronenberg Enterprises we're here to help!

What variables can we control to lower the cost of housing production? DevPro has some ideas!

🏡 Unlocking Affordable Housing with DevPro: A Strategic Solution for owners, brokers, financial institutions, municipal housing departments, and non-profit developers alike. In our ongoing mission to address the pressing issue of attainable housing within our region and communities, we understand that there is no one-size-fits-all solution. Construction innovation holds significant promise; however, it is a longer-term endeavor influenced by market conditions. Interest rates, too, fluctuate and are market dependent. What other factors can we control? At Kronenberg Enterprises we are focused on another variable… Introducing DevPro, an unprecedented financial projection and resource optimization tool now available to all stakeholders. It is our goal to empower everyone in the housing production process to optimize resources with better information. Crafted with a decade of institutional underwriting expertise, it stands as a transformative asset for owners, brokers, financial institutions, municipalities, and non-profits. 🔑 Approaching Affordability Differently DevPro pioneers an innovative approach, facilitating the understanding and optimization of local and federal resources throughout the affordable housing journey, spanning from pre-development to year 15 of operations. How does it operate? 📊 Comprehensive Insights Our software delivers a comprehensive overview of affordable housing prospects. This holistic vantage point unleashes DevPro's true potential. By scrutinizing a project's entire lifecycle, developers and stakeholders can identify creative cost-saving solutions. 🏗️ Enhanced Deal Structuring DevPro empowers you to craft and scrutinize financial roadmaps that can enhance deal structuring. Through refined financial planning and creative strategies, you can maximize the value of available resources, extending the impact of federal and local tax dollars. 🌟 The DevPro Advantage With DevPro, you're not merely overseeing projects; you're shaping the future of affordable housing. As non-profit housing developers and housing departments, you possess the means to enhance housing accessibility. DevPro equips you with the tools and insights essential for effectively navigating this challenge. 💡 Get in Touch Are you ready to unleash the full potential of DevPro? Contact us today (devpro@kronenbergenterprises.com) to explore how our software can empower you to make a substantial impact. Together, let's collaborate in creating a more affordable and accessible housing landscape. 🤝 #AffordableHousing #DevPro #HousingDevelopment #CommunityDevelopment #ResourceOptimization #AffordabilitySolutions