CONSORTIUM AFFORDABLE HOUSING PARTNERS
CAHP is a joint venture between Consortium Capital and CENTRIC Affordable Associates that converts failed market rate
condominium projects into workforce housing. CAHP's principals have over 70 years combined experience developing,
managing, and financing multi-family housing. Using a proprietary methodology termed step in the shoes, CAHP
acquires stalled housing projects and redevelops them into successful Workforce Housing projects by utilizing Low-
Income Housing Tax Credits (LIHTCs), tax-exempt bond financing and other local/state subsidies. This financing structure
often allows CAHP to pay a higher acquisition price for uncompleted projects than a market-based competitor would.
CAHP is currently seeking to acquire unfinished housing construction projects in major markets across the U.S. and
Puerto Rico.
To date, CAHP aided Centric in successfully converting the Argent. The Argent in Silver Spring, Maryland was originally built as a
condominium project in 2009 featuring 96 units and condo-quality amenities. Today, the development is filled with
working families after an innovative deal transformed the project in to workforce housing. The property was purchased
and converted through the use of tax-exempt municipal bonds, low-housing tax credit equity, and a soft subordinate
county loan.
