Asset Management
1010 Development Corporation (1010) has a hands-on approach to managing its properties to ensure that they remain safe, clean, and friendly places to live and that they are assets to the communities in which they are located. Our experienced Chief Operating Officer visits all 1010 properties at least once a month and is in contact with on-site property managers at least weekly to ensure that the properties are meeting 1010’s high expectations for serving the residents and complying with financial and regulatory agreements.
1010 co-manages its Low-Income Housing Tax Credit (LIHTC) properties with HDSI Management, Inc. It performs its own property management on Villa Flores, its HUD-202 senior housing development, through 1010 Senior Housing, LLC. 1010 handles financial accounting for all of its properties.
When a new property is ready to accept resident applications the property management company publicizes the application acceptance period and pre-screens applicants. A lottery is conducted to ensure that applicants are selected fairly. All qualified applicants who are not selected are placed on a waiting list which is updated annually. Because the need for affordable housing far outweighs the supply, 1010 usually only has two or three vacancies per year in each building, which are immediately filled from the waiting list. Currently the waiting lists for all 1010 properties are closed because of their large numbers. Information on locating affordable housing can be found on the Resource Links page.
