Renewing Urban Communities

Formed in 1997, Phoenix Development has facilitated the adaptive reuse of blighted urban real estate throughout the country. Collectively, we have over 50 years of experience in the creative and resourceful development of housing, commercial and mixed-use properties. Loren Brueggemann, our principal, has been instrumental in the development of over 900 affordable rental units and income-restricted for-sale units. Those served were at all levels of income, ranging from below 30% to 80% of the median income.

Many of our projects have included such mixed-uses as adult education, women and family shelters and community centers.

We specialize in the use of:

• Tax Exempt Bonds

• Section 42 Tax Credits (4% and 9%)

• HOME Funds

• Affordable Housing Trust Funds

• NSP HUD Credit Enhancing and Financing (including 236 Decoupling)

• 221 D4 and 223 F Direct Bond Purchase Placements

• Tax Increment Financing