Portfolio

Park Lake Apartments, located in Hempstead, NY, is an affordable 14-building garden-style residence made up of 240 two- and three-bedroom unit homes.  Silver Street Development Corporation teamed up with Metropolitan Realty Group to acquire this property in 2021. The rehabilitation included unit upgrades, colored facades, new roofs, lighting, security, landscaping, and management and laundry

Marble Hall Apartments, located in Tuckahoe, NY, is a ten-story affordable rental building offering one-, two-, and three-bedroom unit homes, plus an employee unit for a total of 134 units.  Silver Street Development Corporation and LIHC Investment Group partnered to acquire this property in 2021.  The property underwent a substantial rehabilitation of the common

The Greens consists of two phases (I & II) that together offer over 500 units of affordable housing subsidized by HUD's Section-8 program. The two properties, which were at one point distinct, were given a robust rehab upon acquisition that helped to unify them into a cohesive aesthetic and to ensure that both phases were

Ever since its construction in 1971, Pequot Highlands has been an important source of affordable housing for the community of Salem, MA. As a flagship property of the prior owner it boasted amenities including playgrounds, gazebos, a basketball court, a computer center, and views of both the ocean and the Boston skyline, but in recent

Acquired from HOME Properties of New York as part of a 25-property portfolio sale, and located in Utica, New York, Macartovin Apartments is an affordable housing property of 66 units. Macartovin Apartments offers residents such amenities as community laundry facilities, kitchens equipped with energy efficient appliances, and 24 hour emergency maintenance services.

Countrybrook Apartments is a 150 unit Section 8 Family/Section 42 property in Champaign, IL, situated close to nearby schools and city parks. This property is one of many that Silver Street converted from HUD 236 via an IRC Decoupling, and continues to be a model of SSDC's commitment to quality property financing and management.

Inwood House, built in 1922, is located in Upper Manhattan, NY. Housing 95 units of 1, 2 and 3 bedroom apartments on 5 floors, the property feature new double-paned storm windows, 24-hour security systems, laundry rooms and hardwood floors. Inwood House was first acquired in 2001.

Island View Apartments is one of Silver Street's new construction projects. This 70-unit family property is stunningly located in the Munjoy Hill area of Portland, Maine. Residents enjoy affordable living with breathtaking views of the sparkling Casco Bay and of Mount Washington of New Hampshire's White Mountains. Long-term affordability is secured for 40 years through

Leisure Tower is a 180-unit elderly housing complex located just north of Boston in the coastal community of Lynn, Massachusetts. In 1999 it was financed with Massachusetts Housing Finance Agency's Tax Exempt financing, leveraging Low Income Housing Tax Credits and additional debt by decoupling the existing 236 IRP. This was Silver Street Development Corporation's first

Newberry Estates is a 200-unit affordable housing property located in Williamsport, PA. When acquired in 2012 by Silver Street, the financing of the deal utilized a HUD 221(d)(4) loan, making it one of the first property acquisitions to close having used this particular bond structure. The property is an asset to Historic Williamsport, the home of

Hilltop Apartments, located in Edwardsville, PA, is a 200-unit town home-style affordable housing community. First built in 1978, Hilltop Apartments is currently managed by Community Realty Management.

Wollaston Manor is a preserved state of Massachusetts 236 property consisting of 163 elderly units. Located in Quincy, Massachusetts, the mid-rise property has undergone a conversion of its heating and cooling systems, window replacement, exterior waterproofing and interior modernization as part of a large-scale rehabilitation. This property was awarded an allocation of 2000 9% Low

Silver Vistas is a 171 unit age-restricted (62 and older) property located in Neptune, NJ. Upon closing the transaction Silver Street was able to convert the 59% affordable property to a 96% affordable property. The original subsidy was a combination of Section 236 units and Project Based Voucher units. Under the RAD program Silver Street

Located in Dorchester, Massachusetts, Adams Templeton is a scattered site elderly property boasting modernized 76-units. The property underwent an interior and exterior rehab upon acquisition in 2001 that focus on aesthetic and energy-saving upgrades. The affordability of this expiring-use subsidized property has been preserved for an additional 40 years through tax exempt financing from Massachusetts

Located in New York City, NY, McKenna Square offers a mixture of studio, one, two and three bedroom apartments throughout its 104 units, all completely subsidized by a Project Based Section 8 HAP contract. Silver Street Development invested roughly $1M into capital improvements to address repairs and to increase energy efficiency.

The Greens consists of two phases (I & II) that together offer over 500 units of affordable housing subsidized by HUD's Section-8 program. The two properties, which were at one point distinct, were given a robust rehab upon acquisition that helped to unify them into a cohesive aesthetic and to ensure that both phases were

Waters Towers was a successful joint venture between Silver Street Development Corporation and the Wishcamper Group, both of Portland, Maine. Located in Baltimore, Maryland, this mid-rise elderly complex underwent a substantial rehab of the units and conversion of its heating and cooling systems. The venture preserved the 203 unit, HUD 236 property for an additional

Located in High Point, North Carolina, the Oaks at Silver Ridge consists of 100 units of Section-8 multifamily housing, first acquired in 2010. Each apartment features fully equipped kitchens, central heat and air conditioning, and new, insulated windows.

In preserving this HUD 236 property, Silver Street was able to transform the Village at Lakeview almost completely, it now serving as an exemplar of the kind of redefinition that's possible in the world of affordable housing. Acquired in 2000, The Village at Lakeview's transformation was defined by physical, social, and political criteria. Highlights of

This 200-unit property located in Newport News, Virginia, was acquired in June 2002. Silver Street accomplished another successful 236 Preservation with Tax Exempt financing through the Newport News Redevelopment and Housing Authority. This 100% Section 8 property underwent an intensive, 18-month substantial rehabilitation of its units and major systems. A new rental office and community

Located in Princess Anne, MD, Princess Anne Apartments consists of 120 units of Section-8 multifamily housing. Through the acquisition process, Silver Street was able to convert the property's affordability from HUD 236 to Section-8 via an IRC decoupling, a signature bond structuring methodology utilized by Silver Street across its portfolio.

Silver Leaf Terrace, located in Leominster, MA, is a 215 unit property that was awarded New England's Affordable Housing Management Association's Community of Quality Award for the Outstanding Turnaround of a Troubled Property in 2012. Silver Leaf Terrace, once a challenged property beset by crime and poorly-maintained infrastructure, is now a cost effective property providing

Pynchon/Edgewater Apartments in Springfield, Massachusetts features 612 apartment homes spread among 51 buildings: 250 townhouse style (3 & 4 bedroom) apartments complete the community known as Pynchon Apartments and 362 high-rise apartments (1 & 2 bedroom) and 90 (3 & 4 bedroom) townhomes complete the community known as Edgewater Apartments. Pynchon/Edgewater was originally acquired by

Penns Grove Apartments, located within the Philadelphia area of Penns Grove, New Jersey, is a 144 unit family property. Originally developed under the 236 program in the 1970s, Silver Street Development Corporation successfully preserved this property for a 40-year term using Tax Exempt financing from New Jersey Housing Mortgage Finance Agency. Acquired in 2002, the

Lancaster Heights Apartments is a 90% affordably property located in Normal, IL. Originally built in 1972, Lancaster was given a complete rehab in 2003 upon acquisition, an acquisition that saw Lancaster's affordability refigured from HUD 236 to Section-8 via an IRC decoupling. Each newly decorated building has an easily accessible laundry facility.

Located on the highest point above sea level in downtown Boston, Parker Hill was a 90-unit family housing project in desperate need of rehabilitation. Despite its location in an area where rents are rapidly increasing, Silver Street Development has committed to offer 30 years of affordable housing to people earning 60% of the local median

Cromwell Towers, located in Yonkers, NY is a family apartment complex which is 100% affordable. Acquired in 2011 in a joint-venture between Silver Street, Metropolitan Realty Group, and Low Income Housing Corp., the property underwent a substantial rehabilitation of its 317 units and parking structure. Preservation of this asset was accomplished through a tax exempt

Located in Plainfield, New Jersey, Cedarbrook Apartments is an elderly project of 100% project-based Section 8 units converted from HUD 236 upon acquisition. The mid-rise building, which underwent a full rehab upon acquisition, and which is managed by Housing Management Resources, offers residents an array of amenities, including kitchens equipped with energy efficient appliances, a community

Acquired from HOME Properties of New York as part of a 25-property portfolio sale, and located in Cortland, NY, Northcliffe Apartments offers residents a variety of amenities including community laundry facilities, kitchens equipped with energy efficient appliances, and 24 hour emergency maintenance service.

Located in Liverpool, New York, Candlelight Lane is a 244-unit property first acquired from HOME Properties of New York as part of a 25-property portfolio sale. Candlelight Lane offers studio, one, and two bedroom apartments for rent, and is professionally managed by Housing Management Resources, Inc, a subsidiary of Silver Street.

Louis Barett Residences, a 145-unit, 12-story apartment complex for seniors in Lynn, MA, approximately 11 miles northeast of downtown Boston, was acquired by Silver Street in 2015. Built in 1973 and financed by MassHousing under the HUD Section 236 program, Louis Barett Residences was subsequently renovated in 1991 via a 4% LIHTC transaction. The property

Located in Browns Mills, New Jersey, Browns Woods Apartments is a beautifully wooded, open-campus site. This mixed income family site underwent a substantial modernization, ensuring that residents will enjoy affordable, comfortable accommodations in the heart of New Jersey. The preservation of this valuable housing asset was accomplished through Tax Exempt financing from New Jersey Mortgage

Eagle Ridge Apartments, located in Edwardsville, PA, is a 251-unit community, the majority of which is Section-8subsidized. The property was converted upon acquisition by Silver Street from a HUD 236 subsidy-scheme via an IRC decoupling.

Brookwood Apartments, located in a rural setting of Roxboro, North Carolina, was Silver Street Development's first acquisition in North Carolina. A variety of modernization efforts, including handicapped accessibility, was performed in 2001. This project offers a wide selection of unit sizes for its multi-family population. This expiring use Section 8 project has been preserved through

Wilson Pines is a 104-unit Section-8 assisted living property located in Suffolk, VA. Silver Street initially acquired this property in 2013 at which point improvements were made, including the installation of energy-efficient appliances, new HVAC system, and aesthetic updates to the interiors of the units.

Henrico Arms is located in the east end of Henrico County, VA. A family-designated, garden-style property, Henrico is 100% Section-8 subsidized, and upon its initial acquisition by Silver Street, received a complete rehabilitation, providing residents with new, energy efficient appliances and more. The Henrico County School District is one of the finest in the county.

Located in New Brunswick, NJ, and originally acquired in 2002, the aptly-named New Brunswick Apartments offers 1-2 bedroom and 3-4 bedroom townhomes with schools, libraries, and other family-centric amenities close by. New Brunswick Apartments offer variety of services, including laundry facilities and 24 hour emergency maintenance service.

Eagle's Bluff, in Concord, New Hampshire, is a project that was approved in the early 1980s before the real estate market's dramatic decline. The land remained undeveloped until Silver Street Development purchased it in 1995 using low-income housing tax credits, and built 80 affordable two and three bedroom townhouses with attached garages, as well as

Located in the splendid furniture country of North Carolina, Silver Springs Apartments is a preserved HUD 236 property, which provides affordable units in Hickory, North Carolina. Acquired in 2001, Silver Springs Terrace underwent modernization of the units, major systems; a new office/community building and laundry were likewise added. Serving a diverse population, Silver Springs Terrace

Windsor Place Apartments was acquired from HOME Properties of New York as part of a 25-property portfolio sale. Located near the city of Syracuse, New York, Windsor Place is a community in a desirable setting, offering 1o8 units of Section-8 multifamily housing.

Acquired from HOME Properties of New York as part of a 25-property portfolio sale, and located in Oswego, NY, Pontiac Terrace is an apartment community consisting of 70 Section-8 affordable multifamily units. Pontiac Terrace offers residents laundry facilities, 24 hour emergency maintenance service, and kitchens equipped with energy efficient appliances.

One of several properties acquired from HOME Properties of New York as part of a 25-property portfolio sale, Evergreen Hills Apartments, located in Macedon, New York, is a 3-phase affordable housing property, the third phase being designated solely for elderly. Professionally managed by Housing Management Resources, Inc., Evergreen Hills offers residents a variety of amenities, including a community room,

Located in Chelsea, Massachusetts, and bordering on Boston, Boston Harbor, and nearby to Logan Airport, Carter Heights is an 108-unit affordable housing community designed to give residents close access to medical facilities, cultural attractions, and everything else the Boston area has to offer.

Located in the mountains of Ashville, NC, Ledgewood Apartments is a 180-unit Section-8 housing property designated for family residents. Professionally managed by Housing Management Resources, Inc., Ledgewood Village offers residents a variety of amenities, including the use of a community clubhouse, community laundry facilities, 24 hour emergency maintenance service, and kitchens equipped with energy efficient appliances.

Highlands, which is located in Newnan, Georgia, is a 100-unit subsidized housing property which offers residents onsite laundry facilities, a community room, a library, a business center, and a community garden. In 2009/10, in the full swing of the financial crisis, HUD introduced the New Issue Bond Program (NIBP), which was eventually incorporated into the acquisition's

James River Flats, also known as North Jefferson Apartments, is a 100-unit Section-8 multifamily housing property located in Newport News, VA. James River was originally acquired by Silver Street in 2013 via a 4% bond-structured deal.

Mount Pleasant was acquired in the spring of 2002 and has undergone a robust modernization. The subsidized units have been successfully preserved for 40 years under a mark-to-market scenario utilizing Massachusetts Housing Finance Agency Tax Exempt Bonds. Located in Roxboro, Massachusetts, these attractive Brownstones and early 1900's style, highlight Silver Street Development Corporation commitment to

Palmetto Place Apartments, which was acquired by Silver Street in 2008, consists of 165 units of affordable multi-family housing. The acquisition was completed in the backdrop of the financial crisis, and was one of the first in the country to close utilizing a HUD 221(d)(4) bond structure. As part of the acquisition Silver Street committed substantial funds

Oakview Apartments is a fully subsidized Section-8 property of 210 units located in Millville, NJ. Prior to acquisition, Oakview was beset with safety issues. By installing security cameras and reorienting foot traffic within the property, as well as through close collaboration with local law enforcement, Silver Street was able to turn the property around completely. Currently, Oakview

Acquired from HOME Properties of New York as part of a 25-property portfolio sale, Schoolhouse apartments is a 56-unit Section-8 multifamily property built in what was once a functioning schoolhouse in Waterville, NY. Schoolhouse Apartments offers residents community laundry facilities, kitchens equipped with energy efficient appliances, 24 hour emergency maintenance service, and beautifully landscaped grounds including

Located in the heart of Baltimore, Silver Park West is a 101-unit, 100% Section-8 affordable housing property. Silver Street originally acquired Silver Park West in 2002, converting it through the acquisition process from HUD 236 to Section-8 via an IRC decoupling.

Danbury Park Manor is a 150-unit family apartment complex located in Ypsilanti, Michigan. This townhouse community was acquired using 4% Low Income Housing Tax Credits and Tax Exempt Bonds issued by Michigan State Housing Development Authority. This property is a HUD 236 which Silver Street Development Corp. has successfully preserved for an additional 30 years.

Acquired as part of a 25-property portfolio sale from HOME Properties of New York, Hillside Terrace, located in Poughkeepsie, New York, is an apartment complex offering one and two bedroom apartment homes and three bedroom town homes. Managed by Housing Management Resources, Hillside Terrace offers residence such amenities as kitchens equipped with energy efficient appliances, community laundry

Franklin Village, a 132-unit family housing property in Derry, New Hampshire, was a victim of the 1980s real estate recession and was in serious financial trouble. The need to negotiate between the seller and FreddieMac complicated the purchase, but with the determination of the Silver Street Development team, the property has enjoyed a fiscal and

Acquired in 2015, Power Town Apartments is a beautiful and designated-historic property located in quaint Turners Falls, MA. Consisting of 82 Section-8 units, Power Town, among other features, boasts a complex and architecturally significant porch structure that has been designated as historic by the local municipality.

Located just before the Canadian border, in Rouses Point, NY, Albert Carriere is a 56-unit community first acquired from HOME Properties of New York as part of a 25-property portfolio sale to Silver Street. The property is located within striking distance of beautiful Lake Champlain, providing residents with a variety of outdoor activities at their

Meadowview Apartments was originally acquired from HOME Properties of New York as part of a 25-property portfolio sale. Located in Central Square, NY, and consisting of 60 affordable units, Meadowview offers residents community laundry facilities, kitchens equipped with energy efficient appliances, a community room with its own fully-equipped kitchen, and 24 hour emergency maintenance service.

Located in West Henrietta, New York, Springside Meadows is an affordable housing property consisting of 54 units of subsidized Section-8 multifamily housing. Springside Meadows offers residents such amenities as community laundry facilities, kitchens equipped with energy efficient appliances, and beautifully landscaped grounds featuring a community gazebo, an outdoor dining area, and a pond. This property acquired from

Located in the Merrimack River Valley of Massachusetts, Mills Falls boasts a trove of historical landmarks. First constructed in the 1800's as part of a cotton-duck fabric factory, the river side mill has been readapted into 97 unique apartment units. Forty percent (40%) of the units will remain affordable for the next 40 years and

Glenridge Gardens is located in Augusta, Maine, on fourteen-and-a-half sprawling acres, offering 120 units of two and three bedroom townhouses. The property is managed by Housing Management Resources, Inc, a subsidiary of Silver Street.

Located in Chicago Heights, IL, Olympic village is a 320-unit Section-8 affordable housing community. The property was originally acquired by Silver Street in 2003 and is now managed by Ludwig & Co.

Located in the seaside community of Kittery, Maine, Woodland Commons was a successful Joint Venture between Silver Street Development Corporation and a nonprofit entity. This well-designed family community is situated in a quiet wooded location. This new construction project was funded through an allocation of 1999 9% Low Income Housing Tax Credits from Maine State

Redden Gardens is a 150-unit Section-8 multifamily housing property located in Dover, NH. The property was acquired by Silver Street in 2000 via a 4% LIHTC subsidized acquisition.

Tidewater Townhomes was acquired by Silver Street in 2004 as part of an early expansion into the Southeastern region of the United States. The property consists of 104 Section-8 multifamily units that underwent a substantial transformation through the course of a rehabilitation that remains to date the most expensive per-unit rehab Silver Street has undertook. Alongside energy-efficient

Located in Port Byron, New York, Church Street Apartments, was one of several properties acquired from HOME Properties of New York as part of a 25-property portfolio sale. The project, which is located close to town, is housed in a former school building which has since been rehabilitated to provide residents with a high standard of living,

Located in Lowell, Massachusetts, Jaycee Place was originally developed in the 1970's in conjunction with the Jaycees as affordable housing for the elderly. Lowell, an old manufacturing city with close proximity to Boston and southern New Hampshire, is enjoying a resurgence and rehabilitation to the benefits of the residents of Jaycee Place. This HUD 236

Lebanon Village is a 200-unit affordable housing property located in Lebanon, PA. When acquired in 2012 by Silver Street, the financing of the deal utilized a HUD 221(d)(4) loan, making it one of the first property acquisitions to close having used this particular bond structure. As part of the acquisition Silver Street performed a robust

Phases I & II of St. Bernard's Park were acquired from HOME Properties of New York as part of a 25-property portfolio sale in 2004. Located in Rochester, New York, on Lake Ontario, and built in 1892 as a seminary, Saint Bernard’s Park is a local landmark rich in history, and provides 88 units of Section-8