Based on limited funding availability for multi-family developments, many development groups and investors are looking towards HUD programs for their financing needs. GAR Associates has recently completed numerous reports that have been submitted under HUD 221(d)(4), 223(f), and the 232 program which is now under the LEAN requirements. Recent work efforts undertaken by GAR Associates that have been applied for various HUD programs include:

• Preparation of the market study and firm application appraisal for an upscale market rate project in Stamford, Connecticut.
• Recent preparation of three assignments in the Greater Albany Area involving market studies or pre-application appraisal work; in the Town of Colonie, Town of Halfmoon, and City of Cohoes.
• Market study and pre-application work for a proposed upscale senior market rate project (independent living with no meal provision) in the Town of North Greenbush, Rensselaer County, New York.
• Appraisal work for an upscale project in Brooklyn, New York.

Given the current financing markets, we are anticipating that the HUD programs will remain extremely popular over the next year. GAR Associates is prepared to tackle market study and appraisal work throughout the United States for these types of projects, and please e-mail M. Scott Allen at sallen@garappraisal.com for information pertaining to quotations. We are in the process of obtaining state certification for licensing in Maryland, Connecticut, Michigan, and other Northeast/Mid-Atlantic regions.