For over thirty years, Loren E. Brueggemann has been developing multifamily housing, institutional housing and commercial real estate on a national basis. He is responsible for over $400,000,000 in urban improvements during his career.
For the last twelve years, Loren has dedicated himself to multifamily housing, emphasizing the use of affordable housing as a tool for reinvigorating neighborhoods. An innovator in the use of multi-source financing mechanisms, his approach layers resources to help achieve the redevelopment goals of the community. His work has often resulted in award-winning affordable housing projects.
Loren has worked with:
- Tax Increment Financing
- Tax Exempt Bonds
- HUD 221 D4 and 223F loan program
- CRA Driven Mortgage Debt
- 236 Decoupling with IRP strip out
- Agency Loans and Grants
- HOME Funds
- Recycled CDBG funds
- 4% and 9% LIHTC
- Cleanup grants
- Sandwich Leases to incorporate any and all of the aforementioned resources.
Currently Loren is working on:
Ortiz Family Plaza
New construction of an affordable housing development to meet the needs of Sonoma County’s changing farmworker population. This project involved several layers of financing, including USDA loans and rent assistance. An exceptionally complicated project to pull together, Brian Anderson of the California Housing Finance Agency told Loren, "You are a miracle worker…I’m very impressed."
BB Housing is working on a new model for affordable housing, Natural Affordable Housing. This approach involves the acquisition of dilapidated apartment buildings currently renting at affordable levels. Pulling together resources from investors, BB Housing renovates the building and units, improving and upgrading the housing stock while maintaining affordable rents. Under BB Housing's direction and management, these affordable housing projects stabilize, providing good, safe, respectable places to live.