Historic Real Estate Finance: Making Development Happen on Main Street
| Tuesday, May 20 | 9:00 a.m. - 12 p.m. | Room: Richard B | Session Tracks: RE, EI
Wondering how historic real estate deals actually get done? Are deals in Main Street commercial districts significantly different from working with other types of historic properties? What financial tools are appropriate for smaller commercial properties? This in-depth workshop is an overview of the the successful Historic Real Estate Finance certification series developed jointly by the National Trust for Historic Preservation and the National Development Council.
Tailored specifically for the Main Street audience, the workshop will focus on working with financial institutions to attract debt to a historic rehabilitation project, since debt typical represents the major part of most project financing. You’ll learn lender jargon, gain an understanding of net operating income and sizing the appropriate amount of debt, and get basic underwriting tips and tricks. A Main Street case study will be presented that shows how banks look at a project.
Corey A. Leon, National Development Council
Corey Leon works on the Midwest Team for the National Development Council, the nation's oldest non-profit community development agency focused on redevelopment financing. Prior to joining NDC, Mr. Leon ran a consulting company focused on development incentives that was involved in projects such as the Book Cadillac Hotel, Whittier Towers, Park Shelton and numerous smaller mixed use projects. He is a specialist in assisting hard-to-complete projects, especially in urban areas where there is often a financial gap.