EDFC

At EDFC, we develop the projects Massachusetts cities and towns need to grow the right way. Many of our projects start with requests from mayors, city managers and town planners, and are designed to fit a specific neighborhood's workforce housing needs. EDFC's lean size enables us to design and deliver those projects quickly and intelligently, regardless of the scale or scope. Our strategic alliances with both public officials across Massachusetts and a variety of business and finance professionals allow us to provide an array of services usually only available through large investment banking firms. As an owner/developer, EDFC's holistic approach to project management places the company at the cutting edge of cost containment, capital formation, and risk management.

EDFC helps Massachusetts' cities and towns achieve new levels of growth while containing costs.

The EDFC Advantage:

The professionals at EDFC are the best in their field at the project management process. Entrusting EDFC with your workforce housing needs is a sound decision that will lead to a successful project. Some of the ways we excel:

Project Financing Alternatives - Since its inception in 2002, EDFC has specialized in finding and delivering unique sources of funding to workforce housing projects. Using these finance alternatives, aside from the obvious benefit of reducing the total payable project costs, helps to leverage against risks and demonstrates that affordable housing projects are aiding the public good in Massachusetts.

Some alternative funding sources we seek:

• • State & Quasi-Public Debt Finance - During a combined five decades spent working every aspect of the real estate industry, EDFC's principals have developed an intimate knowledge of sources for supplemental project funding. Moreover, our reputation as a developer devoted to smart-growth principles and to the needs of Massachusetts' cities and towns puts us in an ideal position to secure such financing. Whether it's a housing grant, matching funds from the state, a subsidy or a low-interest loan, EDFC knows about it, and is positioned to win maximum levels of it for your project.


• • Project Financing - EDFC has a proven record of success, and of generating competitive returns for its investors. Prospective investors know this, and consider any EDFC project to be a strong, sound choice for their money. Our company has an impressive portfolio of investors willing to stake the projects we develop.


• • Unique private sector money sources - EDFC's financial advisors can help explain the best way your workforce housing project can utilize funding from both Massachusetts and federal private-sector money sources, including union pension funds, Fannie Mae/Freddie Mac mortgages and investment banks' urban commitment.

Project Design/Development - EDFC works with city managers through every stage of a project, from conception to construction, to ensure that our project designs plans work in concert with your city's growth plans. Some of the principles that guide us:

• • "Smart-growth" urban villages - EDFC designs projects with smart-growth mixed-use principles in mind. Most of our projects include both commercial and residential space, with a focus on creating a mix of affordable and market-value housing units. Whenever possible, we build close to public transportation, or near a city or business center. A successful EDFC project integrates seamlessly with the community, and allows its residents to commute to work, businesses and cultural centers via foot or public transportation.


• • Project Cost Containment - EDFC's design professionals have over two decades' experience in the industry, and strive to plan the best possible workforce housing projects at the lowest practical costs. When it makes sense, we keep costs down by repurposing existing buildings; when renovations are not feasible, we build economical workforce housing that fits the needs of the neighborhood. This cost containment ensures affordable housing costs at the end of the project.
  
• • Creating special development districts - Many alternative financing sources in Massachusetts require a city or town to create special development districts - targeted areas that need workforce housing. Those districts often require a master plan, zoning relief and other municipal red tape. EDFC principals know what these special districts are, why they're important and how and why cities and towns in Massachusetts can create them. Our team has had success helping municipalities to start funding authorities and learn to utilize public funding for housing projects.

Project Management - EDFC has translated its success as finance and development consultants into a smart, professional approach to project management. Choosing EDFC to develop your project guarantees smart, sound management throughout the construction process.

• • Due Diligence - EDFC professionals bring decades of combined experience to the table. They know the real estate and construction industries, and are uniquely positioned to make informed, intelligent decisions about which contractors should work on your workforce housing project.


• • Strong partnerships - EDFC contracts out construction and management duties, and will select the best companies available to handle your project.


• • Daily management - EDFC will manage the day-to-day aspects of your project, supervising construction work and expenses.