ROY LOWENSTEIN
1722 Oak Street,
Columbus, OH 43230
(614) 593-6574 cell
rlowenstein6@gmail.com
Roy Lowenstein is a well-known figure in affordable housing development, particularly in Ohio. He has 47 years’ experience as developer, consultant, and syndicator. His expertise with grant writing, underwriting, project design and legal/policy issues is tied to his involvement with the development of about 250 projects for diverse low-income populations, using a variety of funding sources. Additionally, he is known as a mentor and trainer of new developers regarding programs such as the low-income housing tax credit and other sources of subsidy.
EDUCATION:
1973: B.A. (history) Oberlin College, Oberlin, Ohio
1976: J.D. (law) Ohio State University, Columbus, Ohio
WORK HISTORY:
8/15-current: Principal, Lowenstein Development, LLC
Consultant to affordable housing developers submitting tax credit & AHP applications in Ohio. Clients have included: Homeport, LDG, TWG, Tober Development and many others. Consultant to 6 non-profits securing gap financing via OHFA HDGF, co-developer on 2 projects.
4/19-5/23: Project Developer, Homeport (Columbus Housing Partnership, Inc.)
Consulting 2016-2019 evolved into 30 hour/wk. employee status with all aspects of affordable housing development, before returning to consulting role 11/21. 12 housing tax credit projects funded 2016-2023 (nine 9%, two 4% with Bond Gap Financing, one without).
12/13-current: Senior Vice President, The Woda Group, Inc.
Tax credit developer, manager of team handling pipeline of projects in 6 states, work with architects, engineers, builders, focusing on efficient design, budget constraints, permitting.
10/06-12/13: Vice-President, Buckeye Community Hope Foundation
Tax credit developer: originating, managing, and closing tax credit transactions primarily in Ohio, also W. Virginia, Kentucky.
Assist Buckeye’s President with evaluation of project feasibility and negotiation of debt and equity arrangements for numerous projects.
• Secured and/or project managed 14 tax credit awards in Ohio
• 7 additional projects funded in W. Virginia & Kentucky 2009-12
• Significant role with shaping project design and services
4/04-10/06: Director of Development, Columbus Housing Partnership, Inc.
Responsible for developing affordable and market rate housing in Columbus and Franklin County using conventional financing, housing tax credits, HOME and other subsidy sources; both rental and for sale homes. Supervise staff of six.
• Supervised completion of 120 1-family rental homes (4 projects)
• Secured 3 new tax credit reservations
• Refinanced 3 existing apartment complexes; sold expired LIHTC properties to investors
• Lead developer of Rich Street Walk, an 18-unit condo project
3/02-3/04: Executive Director, Capital Development Corporation for Housing (CDCH) and Ohio Capital Finance Corporation (OCFC)
Responsible for developing, constructing, and selling single family homes for CDCH, collaborating with existing non-profit partners; OCFC work involved administration of $1.1 million loan pool, drafting notes and mortgages, etc.
• Construction/sale of new homes in Linden, Hilltop and Northside
10/93-3/04: Vice-President for Development, Ohio Capital Corporation for Housing:
Housing consultant and syndicator for 8-10 low-income housing tax credit projects per year with both non-profit and for-profit Ohio developers. Grant writing, financial structuring, liaison to state/local funding sources, banks, and members of development team; help guide project development through initial occupancy. General technical assistance and training of non-profits and local governments. Drafting contracts, partnership amendments, misc. legal work.
• Key role in total of approximately 90 transactions involving $300 million of investment by Ohio Equity Fund for Housing
• Developed loyal clients with repeat business
• Critical contributions to shaping OHFA’s tax credit plan
5/88-9/93: Development Associate, CONSOC Housing Consultants, Columbus:
Consultant to non-profits and PHA's developing housing primarily in Ohio for the elderly and handicapped, under HUD programs, esp. Section 202/811 and McKinney Act. Some projects included partial state funding through ODMH, ODOD, OHFA. Coordination of projects from grant writing through initial occupancy stages. Drafting of contracts, real estate acquisitions, zoning hearings, feasibility analysis, processing of forms, liaison to architects, builders, attorneys, & public agencies.
• More than 60 HUD grants approved; high productivity
1/88-4/88: Development Officer, Columbus Housing Partnership:
Initial work on low-income housing projects.
1/85-12/87: Executive Director, Friends of the Homeless, Inc., Columbus, Ohio:
Administered the agency during period of intense growth, raised public and private funds, and developed a series of new facilities and programs, including: homeless shelter for men and women transitional housing, job training, substance abuse intervention; created neighborhood-based housing development group.
• Developed 100-bed homeless shelter on East Main Street
• Developed innovative job skills training/placement program
(PIC “Provider of the Year-1987”)
1/77-10/84: Facility Developer/Staff Attorney, Association for the Developmentally Disabled, Columbus, Ohio:
Coordinated process of developing or retrofitting group homes and apartment buildings, day care and adult day service facilities for the developmentally disabled. Advised Board and staff on legal and regulatory issues of service to DD population. Handled real estate acquisitions, feasibility analysis, assisted with design planning, zoning, building code & community relations issues, purchased furnishings. Provided staff training sessions taught to staff of ADD and similar agencies.
• 20 residential facilities developed or rehabilitated
• Success overcoming zoning/NIMBY hurdles
1/77-current:
Occasional legal work, consulting and technical assistance for individuals and non-profits, including emergency shelter grants 1989-2008
TRAININGS PROVIDED (partial list)
Suite of 6 webinars for Ohio CDC Assoc. on housing development 2022
Tax Credit 101: OHFA/OCCH Ohio Housing Conference (8x)
Tax Credit Basics: 1-day training for Kentucky Housing staff 2007 & half day training for Buckeye Hills Support Services 2021
Intro to Tax Credits: What Not to Do: Kentucky Housing Conf. 2007
What Makes Affordable Housing Affordable? and Affordable Housing Basics: COHHIO conference 2006
Lectures (2x) to Ohio State U. graduate planning students 2006, 2008
Compliance w/HOME & LIHTC: 2003 HUD training for local govt.
Levelgreen Homes Case Study: 2004 Nat’l Assoc of Homebuilders
How to Assess Development Opportunities
Legal Issues in Affordable Housing Development
Spreadsheet demos for Corp. Supportive Hsg trainees 2015-16, 2018
Financing Supportive Housing: COHHIO conference 2018
Joint Ventures in Affordable Housing: Ohio CDC Assn. 201
VOLUNTEER WORK:
2020-current: Near East Area Commission, Columbus; re-elected 7/2023; elected Treasurer and Chair of Zoning Committee, 2022
2006-2021: Board/Loan Committee Member, National Housing Trust and Institute for Community Economics Loan Funds, Washington DC
2009-2015: Board Member and Officer, Ohio Housing Council
1986-2010: Board Member, Ohio Coalition for the Homeless; merged with Ohio Housing Coalition to become COHHIO in early 1990’s; served as President and Treasurer of COHHIO—the lead advocacy agency in Ohio on housing and homelessness
1986-1988: Board Member, National Coalition for the Homeless
1979-1992: Board Member & Officer, The Ark, Inc. (home for MR/DD adults)