Masters of Moments #19: Jeff Burns - CEO of Affiliated Development | The Future of Workforce Housing
Jeff Burns is the Founder and CEO of Affiliated Development, a real estate development company headquartered in Fort Lauderdale, Florida. Mr. Burns has more than 15 years of experience in the acquisition, development, and finance of a wide array of property types in markets across the United States. With an extensive background and longstanding relationships, Mr. Burns has a proven track record to see real estate opportunities from conception through to reality.
On this episode, Jeff & Jake discuss:
- How Affiliated works with city governments to develop workforce housing
- Raising capital
- Walkthrough of a typical deal
- Construction, design, and underwriting
Links:
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Timestamps:
(00:01:52) Jeff’s career
(00:08:48) Choosing to play in the Multifamily asset class
(00:14:41) Utilizing HUD loans
(00:15:27) How do you find markets to enter?
(00:18:44) How Jeff engages with city governments
(00:21:17) Defining workforce housing
(00:27:14) What incentives are you getting from cities and counties?
(00:37:44 How are you raising capital?
(00:46:01) How long does a typical deal take from start to finish?
(00:48:30) How are you using your in-house architecture function?
(00:53:46) How are you thinking about construction costs and design?
(01:02:06) How are you underwriting deals?
(01:10:30) How do you choose your property managers?
(01:14:01) How do you approach inclusionary housing?
(01:16:37) What is your favorite hotel?