TIG helps to ensure that all residents have an opportunity to reach self-sufficiency by providing them with the necessary supportive services that will sustain their progress along the path toward their goals.

TIG and its affiliates manage, or asset-manage, thousands of affordable rental housing units nationwide. Many of TIG affiliates’ affordable housing transactions prior to 1986 were developed through the HUD Section 8 Moderate Rehabilitation Program, and/or Section 221 (d)(3) or section 236 financing programs. TIG affiliates utilized these programs to acquire subsidy from these HUD programs against an additional $50+ million in private investor equity (pre-1986).

After 1986, Brad Ingerman continued his housing activities by first creating MBI Equities Corp. (MBI) and then Ingerman Affordable Housing (IAH), which were to utilize the Low Income Housing Tax Credit program to create new affordable housing opportunities. These entities utilized the tax credit program to assist in the development of thousands of affordable rental housing units throughout the east coast. We have received in excess of $37 million in tax credit reservations, which have been sold to primarily Fortune 500 companies to raise equity in excess of $317 million. Today completed projects and projects in development have costs of nearly $600 million.

In 1998, IAH expanded its activities through the development of Walt Whitman Village, its first for-sale community in Camden, New Jersey. It was the first new, for-sale community in Camden in a century. So well was this project received that it was completely sold out within one year, six months ahead of schedule. IAH has also developed a mixed-income rental and for-sale community, Cricket Court Commons. Located in the Germantown section of Philadelphia, the project involved the rehabilitation of an existing apartment complex including 228 rental units and 44 for-sale units. In 2005 TIG built nine for-sale houses in Bridgeton, NJ as part of a 250+ unit multiphase development and 10 for-sale units in Pleasantville, NJ as part of 128 rental community it developed. During 2007 and 2008, Ingerman will essentially complete 70 for-sale units in Wilmington, Delaware which will include both affordable and market rate units.

Market Rate Development

MBI Development Company (MBID) and Ingerman Development Company (IDC) are developers of unique market rate housing opportunities. Their first project was the redevelopment of “The Marin” in Jersey City, New Jersey. This $15+ million project is located in close proximity to the Jersey City waterfront and involved a 13-story structure that was rehabilitated from a former industrial building into high-end loft apartments, enjoying huge walls of windows that overlook the Manhattan skyline. The Marin also features 18-foot ceilings, exposed structural elements, gourmet designer kitchens, a health club, and a host of additional amenities. The project was sold to a condo converter in 2005.

Our second market-rate project involves a $20+ million 148-unit luxury rental project for seniors in Bergen County, New Jersey. Financed with low-floater tax-exempt bonds, Ingerman acted as co-developer and Ingerman Construction acted as general contractor on the project.