Company History

Renewal Housing Associates, LLC was formed in July, 2001 by Leon N. Weiner & Associates, Inc. of Wilmington, Delaware and David Lakari & Associates LLC of Portland, Maine. Renewal focuses its efforts on the acquisition of properties located in both the Mid-Atlantic and Midwestern regions.

Renewal's mission is to acquire older, affordable housing properties and successfully renew each one's use to be livable for future generations. The company uses new capital and new programs to rehabilitate old buildings and keep them affordable to low-income residents.

Clifton is an example of a typical Renewal project. It is a 108-unit, elderly, high-rise apartment building located within the City of Cleveland, Ohio. It was built in 1972 utilizing HUD's Section 236 mortgage insurance programs and most of its units have Section 8 rental assistance. Renewal contracted to purchase the property from its original developer, who had owned and operated it since completion. The acquisition was completed and renovations commenced in 2005. New financing for the project includes tax-exempt bond financing, equity raised from the sale of low-income housing tax credits, city and state housing trust fund loans, and a HUD-insured loan.

The renovation plans for Clifton included a new roof, new windows, new furnaces and a complete renovation of the existing elevator system. New lighting and finishes were installed in the common hallways and, for the first time since its construction, a new ventilation system was installed. All of Clifton's units now have new kitchens and bathrooms, new handicapped-accessible restrooms in certain units, a new community room and computer center, renovated office space, and a redecorated lobby. Renewal managed the renovations so that no residents were displaced during the construction period.