Albion focuses on three types of development to create value for our partners, investors and stakeholders in the community
Minneapolis, Chicago, Cincinnati, Ann Arbor, Detroit, Columbus, Cleveland, Pittsburgh

Ground-Up Development

Albion concentrates on sites located in dynamic urban neighborhoods with strong employment opportunity and chic entertainment scenes. These projects typically require innovative architectural and construction techniques as well as extensive re-zoning requirements achieved through collaboration with the local neighborhood groups and municipalities.
Other criteria include:

• Land site with ability to build no less than 150 apartment units

Adaptive Reuse

The urban core of Midwestern cities has been subject to a thriving re-birth, resulting in ideal opportunities to restore underutilized 1900’s buildings to their former glory.  Albion has utilized Federal Historic Tax Credits on numerous conversions and have the experience, knowledge and relationships to maximize otherwise overlooked opportunities that follow the below guidelines:

• Historic existing and/or office opportunities to convert to multifamily with minimum requirement of +/- 200,000 GSF

• Eligible for state historic tax credits if available

• Favorable rent roll with reasonable expiration dates

• Urban CBD location within target markets

Value Add Acquisitions

Albion focuses on targeting specific on-market and off-market assets for acquisition. Typical acquisition targets include assets in need of moderate to extensive capital expenditures, including interior unit and common area renovations, property repositioning and improvement in management and marketing efforts.

• 150 units minimum in urban or suburban location

• Class A, B or C assets

• Desirable urban or suburban in-fill location with substantial barriers to entry

• High visibility/drive-by traffic and close proximity to public transportation, easy access to expressways, close to shopping centers

• Garden style, mid-rise or high-rise properties

• Will consider conversion of buildings not currently operating as residential; e.g. hotels, office buildings, to multi-family residential

• Will consider assembly of non-contiguous properties located in same general vicinity

• Will consider unit count under 150 units if available, contiguous development parcel exists to increase density