Community Builders Group LLC (CBG) is a real estate development company based in Pasadena, California. Founded in 1999 by Joseph P. Seager and A. Christian Hart, CBG specializes in the construction of affordable and mixed-use rental housing developments. To date, CBG has successfully developed newconstruction multi-family apartments and completed the renovation of existing large-scale residential apartment developments in Arizona, California and Hawaii. To facilitate the financing and construction of its developments, the company has utilized federal tax credits and tax-exempt bonds, along with HUD subsidies in the form of Enhanced Vouchers and Housing Assistance Payment contracts, as well as decoupling Interest Reduction Payments from existing 236 loans.
Mr. Seager and Mr. Hart mastered the intricacies of the Federal Section 42 Tax Credit Program during their tenure as company officers in the acquisitions group at SunAmerica Affordable Housing Partners Inc. (SAHP), a subsidiary of AIGSunAmerica Inc. While they were affiliated with SAHP, it was the largest Section 42 tax credit investor in the country, generating over $700 million in tax credits annually. Both Mr. Seager and Mr. Hart dealt with a multitude of Section 42 tax credit issues relating to both 9% and 4% transactions, giving CBG the tax credit experience and knowledge to create additional value for the company and its partners.
CBG Homes Inc., a division of Community Builders Group, develops infill for-sale housing opportunities in urban areas through innovative partnerships between private and public entities. Focusing on locations that have been underutilized or overlooked as potential infill residential sites, CBG Homes is satisfying the growing demand for residential ownership among those prospective buyers who cannot afford traditional suburban single-family homes. Adept at balancing the demands of a mix of stakeholders with complex and often conflicting agendas, CBG Homes is able to conceive and implement varied for-sale housing solutions that increase a community’s housing options.