From October 2023 to May 2024, Enterprise ran the Southeast Preservation Next Academy in Metro Atlanta (Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, and Rockdale Counties) and South Florida (Miami-Dade and Broward Counties). The Academy was a series of virtual and in person trainings and peer learning sessions designed to help developers and housing providers build their capacity to acquire, rehabilitate, and preserve affordable yet unsubsidized small to medium multifamily (SMMF) rental properties and stabilize the residents and communities that depend on this housing stock. In addition to preserving the affordable housing stock, Enterprise aimed to increase the capacity of BIPOC-led organizations and organizations advancing preservation and resident stability in communities of color.
Southeast Preservation Academy Session Descriptions
Part 1. Defining the Opportunity
October 17, 2023 | Preservation Next Academy Kickoff
The October 17th kickoff session set the stage for the Southeast Preservation Academy, providing participants with an overview of the Academy including goals and session topics, along with an overview on the topic of small to medium multifamily (SMMF) preservation and the case for its importance. Guest speakers in this kickoff provided data analysis of SMMF preservation opportunities in Metro Atlanta and South Florida, as well as a case study of a recent preservation deal completed by the Westside Future Fund.
November 14, 2023 | Preservation Deals: Organizational Sustainability and Business Planning
In this session, Karoleen Feng and Juan Diego Castro from Mission Economic Development Agency (MEDA) introduced key organizational considerations and competencies to effectively acquire and operate small to medium multifamily properties, including how the organization funded, staffed, and built capacity to acquire a portfolio of SMMF properties and prevent resident displacement. Enterprise’s Preservation Next staff also provided an overview of the tools needed to develop a preservation business plan, and presented some of the core capacities needed to address the unique challenges of SMMF preservation.
December 5, 2023 | Property Identification, Evaluation, and Acquisition of SMMF Properties
In this session, participants learned strategies and tools to effectively identify, evaluate, and acquire SMMF properties based on property-, community-, and market-based considerations. Enterprise's Preservation Next Staff discussed the importance of acquisition strategies, and previewed a forthcoming evaluation framework that will help assess potential acquisition deals. Enterprise's Vice President of Policy Development, Andrew Jakabovics, shared a data presentation surveying the SMMF property landscape in Atlanta and South Florida, which included analysis of inventory and ownership trends in each geography. Guest speaker Darion Dunn, Managing Partner of Atlantica Properties, walked attendees through an SMMF preservation case study, and shared some of his company's strategies for property acquisition.
Part 2. Preparing for Preservation
January 16, 2024 | Preservation Development Models
This session provided an overview of affordable housing preservation mechanisms, providing an overview of traditional rental models, joint ventures, shared equity, and community ownership models. Enterprise's Preservation Next Staff provided several key considerations for embarking on joint ventures (JVs), guided attendees in an interactive activity to identify their value-adds to development partnerships, and summarized the impact of three affordable stewardship models (deed restrictions, limited equity cooperatives, and community land trusts) on the development process. The session concluded with a practitioner panel with Cecilia Leal from Atlanta Neighborhood Development Partnership, Saki Bailey from San Francisco Community Land Trust, and Ramon Mendez from CRDC Partners, LLC.
February 6, 2024 | Policy and its Impacts on Preservation and Housing Stability
This session provided an overview of how the policy landscape can impact the preservation of small to medium multifamily (SMMF) properties and provide stability for the residents who live in them. Enterprise's Preservation Next Team highlighted key local, state, and national policies; policy best practices; and ways that partners can help create a better enabling environment for preservation and housing stability. The session concluded with a guest presentation and Q + A session from Beth Stephens, Program Director for State and Local Policy in Enterprise's Southeast Market. Beth provided real-time updates about critical policy items in Georgia and Florida, with a focus on policies related to preservation and housing stability.
March 26, 2024 | In-Person Session - Financing Small to Medium Multifamily Preservation
This day-long, in-person session allowed attendees to learn and network with the Southeast’s affordable housing preservation community including funders, policymakers, practitioners, and national experts. Guest speakers highlighted public and private financing resources to support a preservation project, and highlighted strategies to meet financing gaps and preserve affordability.
Part 3. Tackling A Project
April 9, 2024 | Sustainability, Resilience and Health Considerations for Small to Medium Multifamily Preservation
This session dove into considerations in Sustainability, Resilience and Health in the Southeast context, including climate resilience and environmental factors. Guest speaker Ray Demers provided an overview of Enterprise's resources for green building practices, health action planning, and other concepts related to sustainability. Through participant polling and presentation content, the session also discussed how to integrate health, green building, and resilience practices within SMMF preservation projects. Guest speaker Michael Claproth surveyed some of the most pressing climate issues in the Southeast region, and shared a case study of how Enterprise supports local partners in developing more resilient affordable housing.
April 30, 2024 from 10am to 11:30am ET | Property and Asset Management
This session focused on property management models, asset management approaches, and eviction prevention best practices for small to medium multifamily (SMMF) properties Enterprise staff opened the session with an overview of the relationship and distinctions between property and asset management. Next, Harold Nassau, former Senior Director of Asset Management of NeighborWorks America, presented reflections on asset management strategies that can improve the long-term financial health of an organization's SMMF portfolio. Audrea Rease, Partner of Tri-Star Real Estate and Executive Director of Star-C Programs, shared case studies of how to center resident services within property and asset management. Julianna Stuart-Lomax, Vice President of Community Impact for Preservation of Affordable Housing (POAH), rounded out the session with a primer on trauma-informed approaches to property management.
May 21, 2024 from 10am to 11:30am ET | Navigating Rehabilitation and Sustainability of SMMF Properties
This session provided an overview of factors that impact rehabilitation and the long-term success of a preservation project, including the unique rehabilitation needs of SMMF buildings, local building and zoning regulations, and effective engagement of existing residents. Enterprise staff opened the webinar with a primer on how to determine the scope, budget, and management tactics required for a successful rehabilitation project. The Preservation Academy then welcomed back Darion Dunn, Co-Founder and Managing Partner at Atlantica Properties. Darion followed his presentation from Academy Session #3 with a case study explanation of how property evaluation can impact the rehabilitation process. Guest speaker Richard Taylor, Managing Partner at ARRC Capital Partners, used a recent project his firm completed to describe the financial strategies that can help ensure a rehabilitation process remains on-budget, even without the use of public subsidy. The session closed with an overview of the entire Southeast Preservation Academy series, and future opportunities to connect with Enterprise.
Learn More about the Academy
Read this blog post to learn more about the Southeast Preservation Academy.
Contact Us
For questions about the Southeast Preservation Academy or Enterprise’s Preservation Next program, please reach out to Elizabeth Richards Gabriella Lott.
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