Building on L+M’s track record of approximately $20 billion in investment to develop, acquire, and preserve over 55,000 residential units over its 40-year history and on projects such as the recently completed Essex Crossing on the Lower East Side, LMXD seeks to set a new standard in mixed-income and mixed-use development with a current pipeline of over $3.4 billion and 6,000+ mixed-income units in predevelopment, construction, and operations.
To ensure the greatest possible success, and in addition to LMXD’s core development expertise, the company brings a wide range of critical experience from across the entire 500+ person L+M family of companies including:
Development and Financing Expertise
LMXD brings extensive experience and expertise in areas such as mixed-income housing finance, complex public-private transactions, large-scale rezonings, brownfield remediation, capital markets strategy, institutional joint-ventures, placemaking, marketing, residential conversions rental and for-sale development strategies and a host of other subjects essential to successful civically impactful projects.
Decades of experience and institutional knowledge allows LMXD and L+M to creatively finance affordable and mixed income housing. LMXD projects often rely not only on Low Income Housing Tax Credits but also other federal, state, and local credit programs (Historic Tax Credits, New Market Tax Credits, etc) and other subsidy financing tools. These subsidy sources layer on top of tax-exempt bonds, private debt and private equity in order to round out project financing. Complex subsidy layering takes deep knowledge but also deep relationships in the public sector, which LMXD and L+M have cultivated in New York City and across the country.
Construction
L+M’s Builders team delivers award-winning projects including multi-unit residential properties and large-scale renovations. They assist the Development team through all stages of construction and then take complete ownership while managing construction onsite. Finally, the Builders team liaises with Property Management while residents and businesses start to move in.
Property Management
L+M’s Property Management team, C+C Apartment Management, oversees about 21,000 affordable and market-rate apartments. In addition to delivering exceptional property management services, C+C connects residents to services and collaborates with local nonprofit partners.
Fund Management
L+M’s Fund Management team manages discretionary real estate private equity funds and has raised nearly a billion in committed capital to date on behalf of institutional investors. The fund business is committed to investing in and preserving workforce, affordable and mixed-income housing.
To read more about L+M Fund Management, please visit: lmfm.com
Community Engagement
L+M believes that building affordable housing goes hand in hand with social responsibility and the dedicated Community Investment team works across every level of business to carry out that mission. L+M partners with nonprofits to maximize opportunities that will have a positive impact on communities. In the past, L+M has provided support to organizations that work tirelessly to strengthen and improve our communities in four priority areas, including education and youth development, health and well-being, social justice, and workforce development.
To learn more about our social impact efforts, please visit: https://lmdevpartners.com/our-impact/
Taken together, the LMXD/L+M team brings the greatest possible range of capabilities to ensure success on even the most complex and challenging of public-private transactions.