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Orbach Affordable Housing Solutions LLC Client Services
Our mission is to create and preserve affordable housing for low to moderate income households in concert with local stakeholders, government and private partnerships.
Mr. Orbach has nearly two decades of experience as the Chairman of The Orbach Group, a second-generation, full-service real estate organization that owns and manages a diverse portfolio of quality assets valued at over $2 billion.
Jay Reinhard has over 20 years of affordable housing experience as a developer in procuring and financing low-income housing transactions of over $2 billion mainly using tax-exempt debt.
As General Counsel of The Orbach Group, OAHS and affiliated companies, Mr. Friedman offers counsel on a variety of legal issues and provides strategic legal advice to ownership and senior management.
As Director of Development and Construction, Mr. Birman supervises and implements all of OAHS’s development and construction initiatives, associated capital improvement projects, and all related operational strategies.
SANDY HILL TERRACE
Sandy Hill Terrace is an eight story, 175-unit, senior (ages 62 and above) housing complex, located at 330 Walnut Street in Norristown, Pennsylvania. The building consists of 150 one-bedroom units and 25 two-bedroom units. OAHS secured a first mortgage loan in the amount of $20,900,000, and Pennsylvania Housing Finance Agency provided the Tax-Exempt Mortgage-Backed Bonds (M-TEBS) on the 4% low-income housing tax credits (LIHTC). The tax-exempt bonds will convert into a permanent loan with a 15-year term, preserving Sandy Hill Terrace as an affordable housing asset for many years. The preservation and rehabilitation project commenced in November, 2019 and was completed in November, 2020 (notwithstanding mandated closures and restrictions due to the Covid-19 pandemic).
COUNTRY COMMONS APARTMENTS
The Country Commons Apartments is a 352-unit multi-family rental housing development located in Bucks County, Pennsylvania. The acquisition, rehabilitation, and construction of the project was funded with development bonds issued by Pennsylvania Housing Finance Agency as well as first mortgage financing, in the amount of $47.5 million. The renovation project commenced in July, 2018 and was completed in December, 2019.
Orbach Affordable Housing Solutions LLC, is a private real estate development company with a concentration in affordable housing preservation.
Orbach has expertise in acquisition and redevelopment of existing properties and understands the complexities of acquiring, refinancing and rehabilitating properties under State and/or Federal programs, including: Section 42 LIHTC properties, Section 8 properties.
Since its inception, developing new affordable housing has been a fundamental part of Orbach’s business strategy and organizational culture. Orbach is an expert at utilizing a variety of government subsidy programs to develop and manage affordable rental units in numerous states. Orbach’s track record over this period has been exemplary, with every project completed and marketed successfully, on-time and on-budget.
Orbach’s principal has a hands-on approach to managing the details of the development process from property acquisition, project finance and design, through construction and marketing. The firm is experienced in both new construction and rehabilitation of affordable housing.