NEW Capital LLC
A for-profit entity that was formed by New Economics for Women, NEWCapital, LLC (NEWCapital) provides property management services to the affordable housing market and has a long history of working with subsidized housing.
Property Management Services
Formed by NEW in 1996, NEWCapital specializes in rehabilitation of affordable housing apartment buildings and individual residential unit improvements. It provides management services including: day-to-day upkeep, financial reporting, budget analysis, maintenance scheduling, marketing and lease-up needs, property tax exemption filing, risk management, and in-house legal consultation.
Specializing in Affordable Housing
Although NEWCapital began by managing federally assisted housing, it has expanded to include management of conventional housing and commercial property developments. Its specialty continues to be the management of affordable housing, especially those that require coordinated services. NEWCapital has extensive experience, managing commercial space, multifamily, senior housing, and transitional homeless units.
Real Estate Development
NEWCapital’s development portfolio now includes HUD financed construction and rehabilitation of properties. These developments have all emerged as successful properties, a reflection of NEWCapital’s expertise in the management and real estate fields.
Working with Subsidy Programs
As subsidy programs for affordable housing have increased over the years, NEWCapital has been as an innovator and leader in incorporating the various emerging subsidy program opportunities into its management portfolio.
NEWCapital manages properties in conjunction with a variety of subsidy programs, including but not limited to: the United States Department of Housing and Urban Development, local and state housing and redevelopment, tax credits, Community Redevelopment Agency, and other state and local subsidy programs. Many of the developments have multiple levels of funding to meet affordability goals. Additionally, NEWCapital’s history of working with subsidized housing has been complemented by more recent involvement in bond-financed tax credit developments and rehabilitation sites.
The philosophy of NEWCapital is “Attention to Detail." This simple philosophy is at the core of NEWCapital’s success. The philosophy drives NEWCapital to closely monitor management details to ensure the organization continues to deliver satisfaction to both owners and residents.