SOURCE: Sanctuary Residential

Sanctuary Residential

July 15, 2013 13:10 ET

Industry Veteran Launches Real Estate Company to Provide High-Quality Affordable and Mixed-Income Multifamily Housing to Markets in the Southeast

Sanctuary Residential Will Develop Safe, Secure Housing and Communities for Families and Seniors in Virginia, the Carolinas and Georgia

CHARLOTTE, NC--(Marketwired - Jul 15, 2013) - Bernard Felder announced today the official launch of Sanctuary Residential, a Charlotte, North Carolina-based real estate company that will provide high-quality affordable and mixed-income multifamily housing for families and seniors in Virginia, North Carolina, South Carolina and Georgia.

The company will develop and own new communities and rehabilitate neglected neighborhoods, providing safe, secure homes for hard-working families and seniors whose housing cost burdens are rising. Sanctuary Residential also will develop and construct select market rate opportunities that further municipal economic development and redevelopment efforts in the territory.

Felder founded Sanctuary Residential because he believes that specialty housing is the most needed and least addressed aspect of the development industry.

"We see huge potential to maximize opportunities in the growing, underserved affordable and mixed-income housing market," Felder said. "To that end, we are leveraging deep knowledge of the affordable housing industry, development practices and construction as well as strong, long-lasting relationships with lenders, investors and municipalities. We value partnerships and will seek to develop joint venture opportunities with cities and counties, public housing authorities and local nonprofits."

Felder, who has sourced, structured and financed more than 6,700 multifamily units worth more than $700 million, brings deep experience and knowledge in affordable and mixed-income development and finance to Sanctuary Residential. As a Graduate Fellow with the U.S. Department of Housing and Urban Development, he helped structure the first low-income housing tax credit development project for seniors in Durham, North Carolina. He has served as a Senior Vice President with Bank of America Community Development Corporation and was most recently the managing and Southeast regional director for Wood Partners' Specialty Housing Group from 2001 until 2013.

Sanctuary Residential will emphasize sustainable building processes and resource stewardship, developing higher-density communities that allow for land conservation and green space. Whenever possible, the company will integrate its signature CentreParc green space element into its communities.

"At Sanctuary Residential, we believe that every man, woman and child is entitled to a high-quality living environment, and we will aggressively and proactively work to make that happen," Felder said. "We place utmost importance on our residents, neighborhoods, associates and capital partners, and our character drives everything we do."

Sanctuary Residential will be built on core principles of trustworthiness, respect, responsibility, fairness, caring and citizenship. "Every part of our business is held to the highest standards," Felder said, "because at the end of the day, we know that our character will make or break us."

About Sanctuary Residential

Sanctuary Residential is a Charlotte, North Carolina-based real estate company that develops, and owns high-quality, amenity-relevant affordable, mixed-income and select market rate housing for families and seniors in Virginia, the Carolinas and Georgia. For more information, please visit www.sanctuary-residential.com.