We are actively seeking to expand in the Mid-Atlantic/Southeastern United States region. We have a talented team of individuals with the knowledge, drive and experience to effectively lead the seamless sale, restructuring, construction, or rehabilitation of individual communities or portfolios. See our experience as outlined below:

Multifamily Development & Recapitalization

Development Experience

Construction Experience

• We recently managed the rehabilitation of more than 1,000 units during the last 36 months, which accounts for more than $4.5 million in capital improvements.
• Holland House ~ Historic rehabilitation of a Norfolk landmark
• Tazewell Place ~ Rehabilitation and conversion of the old Hofheimer Warehouse to luxury lofts. Also, luxury townhouse new construction on adjacent land.
• Portsmouth Estates Apartments ~ Tax credit acquisition and rehabilitation

HUD Section 236 Program

Bob Lawson and The Lawson Companies have syndicated and developed numerous HUD Section 236 interest rate subsidy developments. The Section 236 program provided an interest rate subsidy that reduces the mortgage interest to an effective rate of 1%. In return, distributions to owners are limited, and the property is required to rent to tenants who make less than 80% of the area median income. The following communities were developed under this program:

John Knox Tower	Norfolk, Virginia
Dundale Square Apartments	Norfolk, Virginia
Lake Village Apartments	Chesapeake, Virginia
Second Lake Village Apartments	Chesapeake, Virginia
Foxhill Apartments	Hampton, Virginia
Churchland Square Apartments	Portsmouth, Virginia
Greenlakes Apartments	Virginia Beach, Virginia
Harpers Square Apartments	Virginia Beach, Virginia
Battletown Ridge Apartments	Berryville, Virginia

Experience in Elderly Housing

• John Knox Tower, Norfolk Virginia

  • This high rise community was developed under the HUD Section 236 program with an additional restriction of accepting residents 62 years and older. The project has since been refinanced out of the 236 program, but the elderly restriction is still in place.

Experience in Rural Development (Farmers Home) Section 515

• Harbour North, Chesapeake Virginia
• Second Harbour North, Chesapeake Virginia

  • This two phase development was constructed under the Section 515 program, which provides for project-based subsidies for low-income families.

Experience with HUD 221(d)4 Mortgage Insurance

• Chartwell Apartments, Virginia Beach Virginia
• Hodges Ferry Apartments, Hampton Virginia
• Kingsbridge Apartments, Chesapeake Virginia
• Beechwood Apartments, Vicksburg, Mississippi

Experience with HUD 223(f) Mortgage Insurance

• Hampton Creek Apartments, Norfolk Virginia

Experience with Cooperative Housing

• Iron Gate Townhouses, Newport News Virginia
• Charlestown Apartments, Portsmouth Virginia
  • These communities were developed under the HUD Section 236 Cooperative Program. Bob Lawson was instrumental in the development of planning these projects while employed with The Bush Organization.

Financing Experience

In its long history, The Lawson Companies has refinanced dozens of residential and commercial properties that account for more than $100 million in capital transactions. The breadth of our experience includes:

• Conventional bank loans
• Life company loans
• Virginia Housing Development Authority (VHDA) loans
• Conduit loans (loans that are later packaged and sold as mortgage-backed securities)
• Tax-exempt municipal bonds (both housing authority bonds and industrial development bonds). Also municipal issues for construction financing.
• Tax credit financing.

Recent transactions include:

• Financing for 1,080 units in seven apartment communities, amounting to more than $24 million in loan proceeds. The Lawson Companies selected the financing provider and managed the entire process, including loan application, oversight of all in-house and third party due diligence procedures, and closing of the loans.
• $4.3 million dollar conduit refinancing loan with $1 million construction loan component.

Bond Financing Experience

• Portsmouth Estates - Portsmouth Redevelopment and Housing Authority bond issue.
• Mercury Square - Hampton Redevelopment and Housing Authority bond issue.
• Almeda Avenue Office Building - Norfolk Redevelopment and Housing Authority industrial development bond issue.
• Bob Lawson is a past Chairman of the Virginia Public Building Authority. During his tenure, he was responsible for more than $500 million dollars in bonds to fund infrastructure projects all over the state.

Experience in Layered Financing (including LIHTC)

• Tax credit combined with tax-exempt bond financing for Portsmouth Estates Apartments in Portsmouth, Virginia.
• Section 236 interest rate subsidy combined with project-based Section 8 assistance.

Virginia Housing and Development Authority (VHDA) Experience

• The Lawson Companies has a relationship with VHDA dating back to the early 1970's.
• VHDA financed projects include:
  • Crosswinds Apartments, Chesapeake
  • Forest Cove Apartments, Chesapeake
  • Greenlakes Apartments, Virginia Beach
  • Hodges Ferry Apartments, Portsmouth
  • Hunters Point Apartments, Chesapeake
  • Second Lake Village Apartments (Prior to the 1998 refinance), Chesapeake
  • Lexington Park Apartments, Norfolk
  • Oak Park Apartments, Norfolk
  • Southside Gardens Apartments, Portsmouth
• Low income housing tax credit compliance. VHDA monitors tax credit compliance in the state of Virginia, so we have regular contact with their representatives. Our property management staff also regularly attends tax credit training seminars hosted by VHDA.

Please contact our Development team for more information.