One of Aesop’s famous fables tells the story of an old man who summons his sons around him to give them some fatherly advice. He orders them to bring in a bundle of sticks, and says to his eldest son: “Break it.”
The son strains, but with all his efforts is unable to break the bundle. The other sons also try, but none succeed. “Now, untie the bundle,” says the father, “and each of you take a stick,” and when they do so, he tells them: “Now, break,” and each stick is easily broken.
In unity there is strength and longevity, and healthy communities are woven together to remain intact and strong. This lies at the heart of SAA|EVI’s work.
Since 1976, SA+A Development has worked with community leaders, government and investment partners to rebuild neighborhoods and urban centers. Beginning with completion of the first housing tax credit development in New York State (1987), SA+A has spearheaded innovations in the creation of affordable housing.
Ernst Valery Investments Corp. (EVI) is a private real estate investment firm established in 2001 and incorporated in 2004 (NY) for the purpose of investing in select underserved and undervalued key emerging domestic real estate markets, defined as urban transitional areas with high residential and retail demand.
Solid financial returns SAA|EVI is committed to developing and investing to achieve strong economic returns with mitigated risk. We seek forward commitments from lenders to establish clear exits upon stabilization. By utilizing state and federal government subsidies, such as affordable housing tax credits, new market tax credits and historic tax credits, costs are reduced for a greater return on equity.
Supporting Communities SAA|EVI is committed to building healthy, stable communities that are characterized by multi-income, multi-ethnic, and multi-generational populations. We seek developers and small business owners committed to the same focus. By revitalizing urban transitional neighborhoods experiencing high residential and retail demand, SAA|EVI seeks to replace vacant properties with affordable and work-force housing, local businesses and a new sense of place.
Sustainability SAA|EVI is committed to working with developers and business owners with a focus toward developments that do not displace. SAA|EVI invests in affordable and market rate built to suit green housing developments and employs historic tax credits and adaptive reuse techniques, recycling obsolete assets for their highest and best use and preserving the historic fabric of the urban core, while adding new and exciting context.
Government and Finance: The Reinvestment Fund, Stratford Capital Group, U.S. Department of Housing and Urban Development, KeyBank, RedStone, M&T Bank, PHFA, First Niagara
Government: U.S. Department of Housing and Urban Development (HUD), Department of Housing and Community Development (DHCD), Department of Mental Health (DMH), New York State Department of Environmental Conservation, Love Canal Revitalization Agency, New York State Division of Housing and Community Renewal, Erie County, Niagara County, New York State Cities of Buffalo, Lackawanna, Tonawanda, and Elmira, New York State Towns of Cheektowaga, Tonawanda, Lewiston, Amherst, Brighton, Aurora, and Evans, New York State Villages of Angola, East Aurora, Williamsville, Depew, Sloan, Lewiston, and Kenmore, Chautauqua Institution, Buffalo Municipal Housing Authority, United States Bureau of Indian Affairs, City of Baltimore, City of Philadelphia
Finance: District of Columbia’s Housing Finance Agency (DCHFA), New York State Housing & Finance agency (HFA), Department of Housing & Urban Development (HUD), Buffalo Municipal Housing Authority (BMHA), HSBC, WNC & Associates, Enterprise Mortgage Corp., Freddie Mac, New York State Division of Housing & Community Renewal (DHCR), TD Bank
Why Ernst Valery Came to Station North
The former School 59 building, located at the corner of Best and Fillmore, features 26 units, many of which overlook Martin Luther King Park.
In October 2017, SAA|EVI purchased St. Luke Apartments located in Henrico County, VA. Built in 1982, St. Luke Apartments is an existing 496 unit affordable housing...