Welcome to NWRECC
Northwest Real Estate Capital Corporation (NWRECC) is a 501(c)(3) Idaho corporation specializing in HUD/Section 8 and Tax Credit Housing. Established in 1999 by Brad A. Elg to own and manage a portfolio of properties to further the goal of providing affordable housing for everyone. We are committed to our motto of "Housing with Pride. Life with Dignity" and strive for that purpose in our day to day business.
Headquartered in beautiful Boise, Idaho NWRECC owns properties in Alaska, Idaho
and Oregon, and is constantly looking for new
properties to add to its portfolio both through acquisition and third-party management.
Rehabilitation
NWRECC is focused on the acquisition and rehabilitation of Affordable Housing, with the goal of long term preservation of that housing. Since 2004 NWRECC has completed the rehabilitation and refinance of 3 separate portfolios, resulting in 754 units of stable Affordable Housing for 30 years after the end of rehab.
The first portfolio that NWRECC took through rehab was a 10 property portfolio with all of the properties located in Idaho. This portfolio was refinanced with tax credits and finished its rehab in December of 2005. The next portfolio that was completed consisted of 12 properties in the State of Oregon. This larger portfolio was financed with tax-exempt bonds, state and federal tax credits, and grants and completed its rehab in November of 2008. Finally, our most recent development project was a 4 property portfolio that was completed in June of 2009, also in the State of Oregon. This smaller portfolio has similar financing to the other Oregon portfolio.
Landscaping repairs, new exterior siding, new windows, asphalt and driveway repairs, and in-unit renovations ranging from 20% to 100% of the units
depending on the property are examples of the work that was done during the rehabs.
We are working toward rehabilitating additional portfolios in both Idaho and Oregon in the next year.
Resident Services
Our goal is to become a “stepping stone” toward a brighter future by providing services along with superior affordable housing to enhance the quality of life for our residents. To date, twenty-five Resident Service plans have been developed and implemented that identify the needs of each resident and community. Services are offered both onsite and within the community, to help stabilize our residents’ lives and create a transition to independence. Each property we own and manage will have a Resident Service Plan.
Neighborhood Networks
Our first Neighborhood Network Computer Learning Center opened its doors in September 2008 at Wylie Street Station in Boise, Idaho. It opened with nine state of the art computers and numerous community partners involved to provide an array of services and resources. This center is NWRECC's model for future centers to be opened within our affordable housing communities. We opened our second Neighborhood Network at Treehouse Apartments in August 2009. Our latest center is the Franklin Grove Neighborhood Network, which opened in January 2010. It is Idaho’s newest and largest Neighborhood Network (surpassing our own Wylie record) with 10 new computers and DSL.
There are many programs offered through our Neighborhood Networks. A few of the programs are: Certified Medicare Sites, Independent Living Skills and Advocacy, After School Learning Programs for Children, Educational and On The Job Training Referral Programs, English as a Second Language (ESL) Classes, and Credit Repair Courses and First Time Home Buyer Classes.
There are many other programs offered. For more information on these programs, please read our Resident Services Blog.
Other Services
Other programs offered within our affordable housing communities include several services available through NWRECC’s Partnership with Community Action Partnership (CAP). This partnership creates a stronger alliance in our fight against poverty and in assisting residents toward self-sufficiency. HUD’s Service Coordinator Program is also available in many of our affordable housing communities. A Service Coordinator is a social service person who assists our elderly and disabled residents to live independently and “age in place”. “Self Help” manuals act as resident resource guides to find resources within their community, such as nutritional programs, health and cooking classes, after school lunch programs, commodities and food boxes.