The Michaels Development Company
– A nationally recognized, private sector firm with over 35 years of experience in producing top quality, affordable housing. All aspects of housing development, from site acquisition through property management, are within the expertise and experience of our company and its affiliates. Since the early 1970s, the Michaels Development Company has successfully developed or rehabilitated approximately 39,000 housing units all across the United States, including the District of Columbia and the U. S. Virgin Islands. We have overseen over $2.5 billion of new construction and substantial rehabilitation.
Our residential communities come in every shape and size, from low-density townhouses and garden apartments to high-rise towers. They are located in every setting — urban, suburban and rural.
The bread and butter of the Michaels Development Company is the development of affordable rental housing. We own and operate:
- More than 100 communities affordable to lower income families and senior citizens through project-based Section 8 and similar federal assistance;
- More than 70 communities affordable to working families through the low income housing tax credit program.
Michaels is also a pioneer in the development of new Balanced Communities that cater to renters and homeowners with a broad range of incomes. Many of these communities involve HOPE VI funding. A federal program, HOPE VI seeks to "reinvent" public housing through the introduction of private sector development and property management. There are over 8,000 residential units in our HOPE VI pipeline that exceed $1.5 billion in value.
In 2003 the decision was made to form Michaels Military Housing, LLC. After observing other housing developers approach to the DoD’s Military Housing Privatization Initiative, we knew MMH could set new standards of excellence. MMH's sole focus is developing, managing and maintaining best in class communities for our soldiers and their families. www.mmhusa.com
In May of 2007, Michaels was ranked as the largest owner of affordable housing.
