Tapestry Development Group is a Decatur, Georgia-based 501(c)(3) non-profit that specializes in creative problem-solving to develop affordable rental housing. We are adept at using multi-layered financing from the public and private sectors. With decades of combined experience, we have used our diverse experience, comprehensive expertise, and proven business acumen to develop thousands of affordable housing units. Our flexibility gives our partners a customized approach to meeting their unique needs; we take pride in being able and willing to be part of a development in the ways most essential for our partners and the project itself. We embrace a spirit of innovation and energy to the developments we serve.
One of our strongest assets is our ability to lead a diverse group of parties towards the common purpose of community-building. We bridge the public and private sectors to leverage the most effective resources for our communities. Our housing developments not only enhance the built environment but people’s lives as well. As much as possible, our developments offer support services to residents in order to empower them to achieve their personal goals.
what we do
Financing Application Preparation
Management of the Closing Process
Development Process Coordination
Recommending and Coordinating with Professionals
About Tapestry Development Group
Tapestry offers a full spectrum of development services to create developments that are sustainable and attractive.
Tapestry will own and/or offer development services for any project that services low to moderate income households. Our experience includes rural and urban projects; family and senior; and rehabilitation and new construction. We have a particular expertise in and passion for:
Affordable Housing Preservation. We seek preservation projects that:
- Use financing that requires long-term affordability
- Are in locations high valued in the private market—rapidly gentrifying areas, near mass transit, in high-performing school districts, etc.
- Serve an underserved population—low income seniors, people with disabilities, larger families, etc.
- Are naturally affordable but need extensive rehab to become safe, decent, sanitary, and in good repair
Supportive Housing. We have special expertise in preserving properties that:
- Serve people that were formerly homeless
- Are single-site supportive housing that need preservation
- Integrate supportive housing into an existing development
Tapestry’s staff is able to manage an entire development project or only roles needed to complement a larger development team. Tapestry’s role in projects typically includes:
- Project structuring
- Feasibility analysis
- Financing application preparation
- Management of the closing process of financing
- Development process coordination
- Recommending and coordinating with professionals (e.g. architects, lawyers, environmental consultants, etc.)
Tapestry can offer full guarantees for a development project on its own. We can share in guarantees and predevelopment costs in a joint venture arrangement.
Brentwood Place Apartments
A new apartment development in collaboration with In-Fill Housing, Inc. to serve working families in a rural Georgia community that has not had any new apartments constructed in over 20 years. The development is financed with Low Income Housing Tax Credits, a State HOME loan, and an Affordable Housing Program grant from the Federal Home Loan Bank of Atlanta. The development was awarded the 2014 “Outstanding Family Development” by its equity syndicator CAHEC.
A historic rehabilitation of an expiring Low Income Housing Tax Credit apartment building originally built as a hotel in the 1920s. In partnership with In-Fill Housing, Inc., Tapestry oversaw the recapitalization and renovation process, which was financed with new Low Income Housing Tax Credits and Historic Tax Credits. Tapestry is collaborating with a local support service provider to offer comprehensive on-site services for its very-low-income residents.
The development was awarded the 2016 Affordable Housing Finance magazine’s Readers’ Choice Awards for Best Overall Project and Best Preservation Project in the country.
We develop along a spectrum of rental housing types, including supportive housing for special needs households, garden-style apartments for families, and communities for senior citizens. We are experienced in both rehabilitation of existing properties and new construction. Our team has successfully used a variety of public and private financing, including Low Income Housing Tax Credits, Historic Tax Credits, HOME funds, CDBG funds, FHA debt financing, National Housing Trust Funds, State Permanent Supportive Housing Program loans, HUD 202 Supportive Housing for Elderly Program, Federal Home Loan Bank Affordable Housing Program grants, private foundation grants, conventional debt, Section 8 Project Based Rental Assistance, and the HUD Rental Assistance Demonstration (RAD) program.
Tapestry in the News
Tapestry’s Greystone Apartments received an overall winner in the Affordable Housing Finance Reader’s Choice Awards. It has also been selected as the best preservation project.
“For CHRIS 180, working with Tapestry Development Group has been a blessing. The mission of CHRIS 180 is healing children, strengthening families and building community. We accomplish this through a broad continuum of counseling and support services for individuals and families as well as by safe housing for children in foster care and single and parenting young adults who have aged out of foster care or who are homeless. Tapestry Development Group provided the expertise we lacked and helped us secure public funding to augment charitable dollars so that CHRIS 180 could build and open Summit Trail, our new Earthcraft-certified apartment complex. We recommend them highly.”
Kathy Colbenson CEO, CHRIS 180