The WCRA was formed in 1992 and in 1994 started its long standing relationship with Shelter Resources Inc. (“SRI”). Over the years, we have made many long term loans for affordable housing apartment buildings that SRI developed. Our partnership continues to this day with financing across the state of Washington providing loans for SRI to create quality housing for their own account and others. We consider SRI a great developer and WCRA partner.
The Shelter Resources team has an unmatched ability to combine intricate operational programs and complex financial structures. And they do this, not just as another financial “deal”, but with a deep and heartfelt commitment to the future users. Their ability is evident from project inception through construction, lease-up and long term management. Their ability has contributed to the betterment of the lives of tens of thousands of individuals and families.
Martha & Mary had heard good things about SRI before we agreed to proceed in our journey in developing the Village Green Senior Apartments. However, the SRI team surpassed our already high expectations as we developed and completed that particular joint venture. The integrity, patience, and respect they gave to our organization and our community was very impressive. The project has been impactful for the north Kitsap community and has been a very proud extension of our mission in the region. I would look forward to working with SRI again if such a mutually beneficial project were to exist.
Boston Capital has completed numerous transactions with SRI and their performance and professionalism continues to exceed our expectations. For years, SRI has had a strong presence & stellar reputation in the Pacific Northwest affordable development community and we are proud to have them as partners. We hope to continue this relationship with Len and SRI for many years to come.
Having shared offices and partnered on deals with Len over the past twenty five years I have witnessed the growth of Shelter Resources first hand. Led by his tenacity and drive to succeed Shelter has become a recognized and highly regarded player in the competitive arena of affordable housing. He and his team have developed the patience and “never quit” attitude necessary to continually pursue funding sources for various housing proposals. It is not uncommon for the development process to run four to five years and involve several funding cycles. Through it all this group stays on task to the closing table. Len has been an excellent partner through many complicated transactions and stressful situations. His consistent calm demeanor and compromising approach to difficult issues is always appreciated by my partner and I at Campbell-Hogue.
We’ve worked on multiple transactions with Len and his team and have been consistently impressed with their professionalism, attention to detail, and sophistication. From development of ground-up urban mixed-use to preservation of financially challenging rural assets, their creativity and dedication to affordable housing has created effective and stable executions for the benefit of their residents and communities.
The Arcand Company and Columbia Housing Corporation (later sold to PNC Bank) worked with Len Brannen and Shelter Resources on several Pacific Northwest properties commencing in the 1980’s; and continue to work with them on the disposition and repositioning of those and other investments. In my experience, Len and his SRI team are amongst the best in the industry; extensive knowledge and persistence to accomplish that which others cannot. I endorse Len and Shelter Resources to anyone who is considering working them in any capacity.
Enterprise looks forward to continued investment alongside Len Brannen and his team at SRI. We’ve found SRI to be thoughtful, creative, and flexible with the development process both meeting the various objectives of the affordable housing programs and, most importantly, providing quality homes for the residents of their communities.
Stifel, Nicolaus & Company, Inc. has provided financing to Shelter Resources through several tax-exempt affordable housing bond issues during the past five years. These financings have tended to be complex and SRI has always been responsive and flexible as we worked through various challenges to get to the closing table. We thoroughly enjoy working with Len and the whole SRI team and look forward to many more successful closings in the future.With 35 years of affordable housing development SRI has engaged many relationships over the years, including non-profit housing providers and public agencies with whom we work with closely to facilitate financing for each project situation. Below is a listing of non-profit partners and public agencies with whom we have positively engaged in affordable housing efforts.
CLIENTS
Multi-Service Center – Federal Way, WA
Renton Housing Authority – Renton, WA
Providence Health Services – Renton, WA
Cam West – Kirkland, WA
Hearing, Speech, & Deafness Center – Seattle, WA
Hopesource – Ellensburg, WA
Shelter America Group – Vashon Island, WA
Senior Housing Assistance Group – Seattle, WA
Community Action Council of Lewis, Mason & Thurston Counties – Lacey, WA
Downtown Action To Save Housing (DASH) – Bellevue, WA
Compass Housing Alliance – Seattle, WA
Peninsula Housing Authority – Port Angeles, WA
King County Housing Authority – Tukwila, WA
Lower Columbia Community Action Council – Longview, WA
Longview Housing Authority – Longview, WA
Access – Medford, OR
Housing Authority of Lincoln County – Newport, WA
Clallam County Community Action Council – Sequim, WA
Housing Resources Board – Winslow, WA
Martha & Mary Lutheran Services – Poulsbo, WA
Richland Housing Authority – Richland, WA
Northshore Senior Center – Bothell, WA
Senior Services of King County – Seattle, WA
Senior Services of Snohomish County – Everett, WA
Kitsap County Consolidated Housing Authority – Bremerton, WA
Portland Development Commission (PDC) – Portland, OR
Oregon Housing & Community Services – Salem, OR
Washington State Housing Finance Commission – Seattle, WA
Washington State Department of Commerce – Olympia, WA
A Regional Coalition for Housing (ARCH) – Bellevue, WA
Seattle Housing Authority – Seattle, WA
Seattle Office of Housing – Seattle, WA
King County Department of Community Development – Seattle, WA
Peirce County Department of Community Development – Tacoma, WA
USDA Rural Housing Development – Olympia, WA/Portland, OR
Bill & Melinda Gates Foundation / Sound Families – Seattle, WA
Federal Home Loan Bank of Seattle – Seattle, WA
The Home Depot Foundation – Atlanta, GA
Department Of Veterans Affairs – Seattle, WA
Riverside Charitable Corporation – Orange, CA
Longview Housing Authority – Longview, WA
REFERENCES
LENDERS/INSTITUTIONAL INVESTORS
BOSTON CAPTIAL
Contact: Tom Dixon
One Boston Place
Boston, MA 02108
(617) 624-8867
UMPQUA BANK
Contact: Aaron Walker
675 Oak Street, 3rd Floor
Eugene, OR 97401
(541) 434-2970
J.P. MORGAN CHASE
Contact: Chuck Weinstock
1301 2nd Avenue, 24th Floor
Seattle, WA 98101
(206) 500-5105
BANK OF PACIFIC
Contact: Mike Sweeney
300 East Market
Aberdeen, WA 98520
(360) 537-4042
CHURCHILL FINANCIAL/CHURCHILL STATESIDE
Contact: Keith J. Gloeckl, President
601 Cleveland St., Ste. 200
Clearwater, FL 33755
(727) 461-2200
U.S. BANK
Contact: Ann Melone
1420 5th Avenue, 8th Floor
Seattle, WA 98101
(260) 344-5423
STEARNS BANK, NA
Contact: David Feriancek
4140 Thielman Lane
St. Cloud, MN 56301
(320) 253-6607
CITI GROUP
Contact: Mark Dean, Senior V.P.
601 Union Street, Suite 5
Seattle, WA 98101
(206) 346-2838
KEY BANK
Contact: Beth Palmer Wirtz, Key Community Development
1211 SW Fifth Avenue, # 485
Portland, OR 97204
(503) 790-7565
NATIONAL EQUITY FUND (NEF)
Seattle Regional Office
Contact: Monika Elgert
401 Second Avenue, Suite 301
Seattle, WA 98104
(503)688-1686
WASHINGTON COMMUNITY REINVESTMENT
ASSOCIATION
Contact: Susan Duren, President
1200 5th Avenue, Suite 1406
Seattle, WA 98111-2609
(206) 292-0689
Contact: Dulcie Claassen, Vice President
1200 5th Avenue, Suite 1406
Seattle, WA 98111-2609
(206) 622-6322
MICHEL ASSOCIATES
Contact: Peter Talbot
Seaport Center, Ste. 907
70 Fargo Street
Boston, MA 02210
(617) 261-4646
ENTERPRISE COMMUNITY INVESTMENT, INC.
Contact: M.A. Leonard, VP & Market Lender, Pacific Northwest
2025 First Avenue Suite 1250
Seattle, WA 98121
(206) 223-4519
Contact: Philip Porter, Vice President
2025 First Avenue Suite 1250
Seattle, WA 98121
(410) 772-2594
USDA – RURAL DEVELOPMENT (formerly FmHA)
Washington State
Contact: Mary Traxler, Multi-Family Housing Programs Director
1835 Black Lake Blvd. SW, Suite D
Olympia, WA 98512-5717
(360) 704-7725
Oregon State
Contact: Vicki Walker, USDA RD State Director
101 SW Main Street, Suite 1410
Portland, OR 97204
(503) 414-3350
DEVELOPERS – NON PROFIT
MULTI-SERVICE CENTER
Contact: Robin Corak, CEO
1200 S. 336th Street
Federal Way, WA 98003
(253) 835-7679
SHELTER AMERICA GROUP/MHT
Contact: Christopher Bric, President
9620 SW Bank Road
Vashon, Washington 98070
(206) 567-5540
COMPASS CENTER ALLIANCE
Contact: Beth Boram, Director of Property Development
77 S. Washington Street
Seattle, WA 98104
(206) 474-1000
Contact: Rick Friedoff
77 S. Washington Street
Seattle, WA 98104
(206) 357-3102
COMMUNITY ACTION COUNCIL OF LEWIS, MASON & THURSTON COUNTIES
Contact:John Walsh, Executive Director
420 Golf Club Road, Suite 100
Lacey, WA 98503
(360) 438-1100
HEARING SPEECH & DEAFNESS CENTER
Contact: David Webster
1625 19th Avenue
Seattle, WA 98122
(206) 323-5770
ACCESS INC.
Contact: Cindy Dyers
3630 Aviation Way
Medford, OR 97501
(541) 774-4319
HOPESOURCE
Contact: Susan Grindle, Executive Director
601 W. 5th Avenue
Ellensburg, WA 98926
(509) 925-1448
PORTLAND HOUSING AUTHORITY
Contact: Dianne Quast
35 SW Ash Street
Portland, OR 97204
(509) 925-1448
LONGVIEW HOUSING AUTHORITY
Contact: Chris Pegg
Executive Director
1207 Commerce Avenue
Longview, WA 98632
RENTON HOUSING AUTHORITY
Contact: Mark Gropper
Executive Director
1000 Index Avenue NE
Renton, WA 98056
MARTHA & MARY LUTHERAN SERVICES
Contact: Chad Solvie, CEO
P.O. Box 127
Poulsbo, WA 98370
(360) 394-4010
GENERAL CONTRACTORS & ARCHITECTS
CAMPBELL-HOGUE & ASSOCIATES, INC.
Contacts: Terry Campbell /James Hogue
2223 112th Avenue NE, Suite 102
Bellevue, WA 98004
(425) 455-3879
CASASSA CONSTRUCTION
Contact: Don Casassa, President
13970 Roundy Drive
Entiat, WA 98822
(509) 784-0306
WM. R. LOVELACE CONSTRUCTION, INC.
Contact: Bill Lovelace, President
910 NE D Street, Suite 103
Grants Pass, OR 97526
(541) 479-2112
BUMGARDNER ARCHITECTS
Contact: Mark Simpson, Principal
2111 Third Avenue
Seattle, WA 98121
(206) 223-1361
DAWSON CONSTRUCTION, INC.
Contacts: Pete Dawson & Ken Helms
405 32nd Street, Suite 110
Bellingham, WA 98225
(360) 756-1000
TONKIN/HOYNE/LOKIN
Contact: Barry Hoyne, Principal
Dave Evans
204 1st Avenue South
Seattle, WA 98104
(206) 223-1361
RON GRIMES ARCHITECT, PC
Contact: Ron Grimes, Principal
700 East Main Street
Medford, OR 97504
(541) 772-3000
WATTENBARGER ARCHITECTS
Contact: Steve Wattenbarger
275 118th Ave. SE; Suite 208
Bellevue, WA 98005
(425) 453-0606
ZECK BUTLER ARCHITECTS
Contact: Bill Zeck, Principal
421 W. Riverside, Suite 220
Spokane, WA 99201
(509) 456-8236
CPA & ATTORNEYS
VLP LAW GROUP, LLP
Contact: Byron A. Rodriguez
548 Market Street
San Francisco, CA 94104
(415) 963-4327
Contact: Michael Kass
555 Bryant Street, Suite 820
Palo Alto, CA 94301
(510) 629-6089
LAW OFFICE OF C. PAUL DAGLE
Contact: C. Paul Dagle, Esquire
111 SW 5th Ave., Ste. 2300
Portland, OR 97204
(503) 243-5866
LOVERIDGE HUNT & CO.
Contacts: Paul Loveridge, CPA
Max Hunt, CPA
11100 NE 8th St., Suite 410
Bellevue, WA 98004
(425) 453-2088
KANTOR TAYLOR
Contact: Mark Kantor, Esquire
1501 Fourth Avenue, Suite 1610
Seattle, WA 98101
(206) 625-9898
NORBERG HAMMACK KOLP & CASH, PS
Contact: Scott Nordberg, CPA, CMA
Bob Kolp, CPA
915 118th Ave. SE, Suite 280
Bellevue, WA 98005
(425) 450-9995
LAW OFFICE OF GARY E. SUOJA
Contact: Gary E. Suoja, Esquire
2448 76th Ave. SE, Ste.202
Mercer Island, WA 98040
(425) 423-0304
PROPERTY MANAGEMENT AGENTS
AD-WEST REALTY SERVICES, INC.
Contact: Warren Westad
545 Rainier Blvd N, Suite 9
Issaquah, WA 98027
(425) 391-3937
GUARDIAN MANAGEMENT LLC
Contact: Tom Brenneke, President
710 NE 14th Avenue, 2nd Flr.
Portland, Oregon 97209
(503) 803-3658
LOVELACE PROPERTIES, LLC
Contact: William Lovelace
910 NE D Street
Grants Pass, OR 97526
(541) 479-2112
QUANTUM MANAGEMENT SERVICES, INC.
Contact: Deneen King, Regional Manager
3810 196th Street SW, Suite 10
Lynnwood, WA 98036
(425) 776-1294
PRINCETON MANAGEMENT
Contact: Freddy Lunt
Leslie Johnstone
7831 SE Lake Road
Suite 200
Portland, OR 97267
(503) 353-3465