Daniel Hubbard is the owner of Hubbard Development Co. LLC, Hubbard Development Co., LLC, originally Merritt and Hubbard Development, began in 2002. Original partner, Daniel Hubbard acquired the full business and renamed it 2006. Like its former organization, Hubbard Development continued to provide professional services encompassing development, financing, planning, managing and coordinating the various functions required in offering a successful housing and community asset. Its core business is the development of low, moderate and market rate housing on its own behalf or in partnership with other owners and developers who share the vision of creating high quality housing options. Hubbard Development Co., LLC’s market area is generally Indiana and contiguous states. Daniel Hubbard has over 15 years’ experience in the affordable housing development business.
Since 2002 Hubbard has developed 6 projects totaling 613 units of affordable housing in Indiana. Highlights are:
The following provides a brief synopsis of projects that have been developed / owned by Hubbard Development:
Shannon Glenn Apartments
Completed development of the substantial rehabilitation of Shannon Glenn Apartments, a 144 unit occupied multifamily project located in Evansville, IN. Rental Housing Tax Credits in the amount of 766,944 were reserved in 2009. Total development costs were approximately $12,250,000. Construction was completed in 2011, with Lease-up completed in 2012.
Dalehaven Estates Apartments
Completed substantial rehabilitation for Dalehaven Estates, a 119 unit occupied multifamily project located in Evansville, IN. The project contains 33 HAP units which were combined with the Section 42 program. Rental Housing Tax Credits were awarded to the project in the amount of $511,880. Construction completed in December 2007. Lease-up was completed in February 2008. Total project costs were approximately $7,800,000. 8609’s were issued January 2009.
MLK Homes II
Completed construction of MLK Homes II, LP, a 35-unit, scattered site Section 42 project located in Indianapolis, IN, in July 2007. Lease-up was completed in December 2007. Rental Housing Tax Credits were awarded to the project in the amount of $383,368. The MLK Homes II development costs totaled approximately $4,075,000. 8609’s were issued in December 2007.
Northampton Village Apartments
Completed construction of Northampton Village Apartments, a 90-unit apartment complex in Warren Township, Indianapolis, IN. $567,086 in Rental Housing Tax Credits were reserved in 2004, and construction was completed in the summer of 2005. The Northampton Village development costs totaled approximately $7,650,000. 8609’s were issued in February 2006.
Stratford Place Apartments
Completed construction of Stratford Place Apartments, a 120-unit Section 42 apartment complex located in Indianapolis’s Franklin Township in March 2004. Rental Housing Tax Credits have been reserved for the project. The Stratford Place Apartment project costs totaled approximately $8,650,000. 8609’s were issued in July 2004.
Completed construction of Windermere Apartments, an 80-unit Section 42 apartment project located in Greensburg, IN, in December 2003. Lease-up was completed in May 2004. The Windermere Apartments development costs totaled approximately $5,750,000. 8609’s were issued in April 2004.
Completed construction of MLK Homes, LP, a 25-unit, scattered site Section 42 project located in Indianapolis, IN, in July 2003. Lease-up was completed in September 2003. The MLK Homes development costs totaled approximately $2,750,000.00. 8609’s were issued in December 2003.
In 2009, Hubbard formed a subsidiary organization to manage the federal LIHTC compliance at their properties called Credit Compliance & Management LLC (“CCM”). In 2010 CCM began managing their first LIHTC project, the 35 scattered site units of MLK Homes II.