Program areas at PathStone Development Corporation
REAL ESTATE DEVELOPMENT:PathStone and its affiliates work with community partners, non-profits, private developers and government officials to design and build housing that is affordable, accessible and seamlessly integrated into the community in which it is built. The services offered are: development and acquisition of affordable rental housing for families, farmworkers, seniors, and special needs populations while also offering affordable single-family for sale home construction. 73 affordable housing units have been developed, $17,947,344 has been invested in affordable housing developments and 1,003 manufactured homes have been preserved through resident ownership since the program's inception. (Continued on Schedule O)Services are provided by PathStone and its affiliates and are available in: Indiana, New York, Pennsylvania, and Puerto Rico. The current pipeline includes a number of developments that are transformative to the communities they are located within. Our present developments include an adaptive reuse of a vacant store; historical preservation of a significant Main St property; developing a GREEN product that can be replicated. We are committed to provide housing to meet the needs of the communities we work in.
RENTAL PROPERTY PORTFOLIO:Consists of the corporate legal entities required to own and operate affordable residential rental communities and the commercial properties owned by PathStone Corporation and its affiliate entities. Limited partnerships, limited liability companies and equity holding corporations are established to maintain the long-term ownership and organizational structure required by the PathStone Corporation Board of Directors and governmental and private lenders. The portfolio provides housing for qualifying families, individuals, farmworkers, seniors, and special needs population. (Continued on Schedule O)The portfolio consists of 75 affordable housing communities which comprised 3,717 units that provided high-quality, affordable homes for 8,763 residents. The portfolio has rental properties in Indiana, New York, Ohio, Pennsylvania, and Puerto Rico.