This month we will reach a significant milestone in our company’s history – celebrating our 100th affordable housing preservation.
With the acquisition of the 100th multifamily property, LHP developments will total more than 13,000 apartment units in 13 states valued at $1.15 billion. LHP’s current portfolio includes 58 multifamily properties and assets valued at more than $800 million.
Closing on Our 100th Acquisition: Officials from LHP Capital and the City of Oak Ridge celebrate the successful closing of a transaction that will enable LHP to acquire and renovate Frank Callaghan Tower (a.k.a. Fairbanks Tower), an affordable housing community for seniors on fixed incomes. From left to right: Oak Ridge City Manager Mark Watson, Oak Ridge IDB Chairman David Wilson, LHP Development President Carr Hagan and LHP Development CEO Alvin Nance.
A timeline of LHP’s history:
1975 LHP’s roots go back to 1975 with the founding of Lawler Wood Associates in Knoxville. Lawler Wood companies led by Pat Wood and Rodney Lawler completed more than 3,000 Section 8 units in Tennessee and neighboring states between 1976 and 1981.
1977 Phil Lawson began working with Lawler Wood in 1977 as outside CPA and then as CFO starting in 1984.
1998 Lawson created a housing division within Lawler Wood to develop properties using the Low-Income Housing Tax Credit (LIHTC) and secured its first deal—a highly competitive 9% LIHTC allocation for Hiawassee Square in Knoxville.
2005 Lawler Wood Housing, LLC is formed as a 50/50 partnership between Lawson and the Lawler and Wood families.
2006 Ranked #1 by Affordable Housing Finance in Acquisition/Rehab.
2008 Acquired milestone 50th multifamily property and to celebrate awarded every employee a bonus in the form of a $50 bill.
2012 Became Lawler Wood Housing Partners with a 50% equity partner, ERI of Cambridge, MA.
2015 Company rebranded as LHP Capital, LLC.
2017 Local partners increase interest in LHP Capital to 75% by acquiring 25% from ERI.
2018 Surpassed the $1 billion milestone for development activity and opened an office in downtown Nashville.
2019 Acquired our 100th property, Fairbanks Tower in Oak Ridge, TN.
We think our 100th acquisition is kind of a big deal…and we couldn’t have done it without you. Thank you!
With gratitude & coffee,
Lindsay B
