On the cover: Technology Heights II, Sioux Falls, South Dakota
Hello Friends! Thank you for taking the time to read our 2021 Annual Report. Looking back on the successes of the past year, it is easy to see that Together We Are Making an Impact. With each new development, we are making an impact on the lives of the residents we all serve. This year’s report tells the story of Antonia and you can read how we’ve made an impact on her life. What we and you do matters — alot!.
MHEG had a record year in 2021 - raising $315 million in new equity capital and closing investments in 39 new developments, helping finance over 1,800 units of quality affordable housing. These developments are spread out over 34 Midwest communities. The impact we are making on those 1,800 families is because of your hard work.
Thank you to all of our volunteers, investors, developers, general partners, property managers, financing partners and government officials for making 2021 such a success. Thank you for letting us be a part of your organization. Thank you for helping us execute on our mission of Changing Lives for a Better Tomorrow!
We are excited for even greater things in 2022 and continuing to make an impact. We are expanding into new states and look forward to bringing our mission to new communities and serving even more residents. As you likely notice, we added several new members to our team in 2021 to help achieve our desired growth. It takes real teamwork to provide quality affordable housing, and MHEG’s team is one of the best. I thank them for their commitment.
Together We Are Making an Impact.
All the best, John J. Wiechmann
MHEG closed over $215 million in equity in 2021, creating and preserving 1,825 affordable housing rental units. This included 14 age restricted developments, 22 multifamily developments, one single family home development and two special needs developments. Properties ranged from a 15 unit rural development in Nebraska to a 184 unit urban development in Oklahoma. MHEG partnered with 31 developers to develop these 39 developments throughout 34 Midwest communities.
Swallow Road Apartments, LLLP
Fort Collins - 84 multifamily units
Developed by: Care Housing Inc.
Cinnamon Apartments LLLP
Longmont- 25 age restricted units
Developed by: Senior Housing Options, Inc.
Spring Creek Housing Associates LP
Pleasant Hill - 36 age restricted units
Developed by: Torrent Developers LLC
Whittier Place II, LP
Emporia - 24 multifamily units
Developed by: Merak Development LLC
Quail Cove, LLC
Great Bend - 24 age restricted units
Developed by: Mesner Development Co.
OPG Stonepost Lofts Partners, LLC
Hays- 18 multifamily units
Developed by: Overland Property Group, LLC
Interfaith Townhomes II, LLC
Hutchinson - 24 age restricted units
Developed by: Manske & Associates, L.L.C.
Ridgely Park Apartments LP
Kasota - 24 multifamily units
Developed by: Three Rivers Community Action Inc.
MissouriWoodridge Brunswick, LP
Brunswick- 16 multifamily units
Developed by: Central Missouri Community Action
St. Regis Linwood, LP
Kansas City - 85 age restricted units
Developed by: Millennia Development
Laurie Family, LP
Laurie - 24 multifamily units
Developed by: Cydecton Investments LLC
VHMM, LP
Lebanon - 65 age restricted units
Developed by: Missouri Housing Partners LLC
Kodiak Village, LP
Neosho - 36 multifamily units
Developed by: Holden Communities, LLC
Diamond Senior Potosi, LP
Potosi - 32 age restricted units
Developed by: 3 Diamond Development LLC
Logan Villas LP
Raytown - 50 age restricted units
Developed by: Raga Properties, LLC
Diamond Apts Rolla MO, LP
Rolla - 80 multifamily units
Developed by: 3 Diamond Development LLC
Versailles Family, LP
Versailles - 44 multifamily units
Developed by: Cydecton Investments LLC
Belohlavy Estates, L.P.
Crete - 22 multifamily units
Developed by: Dana Point Development Corporation
Gatewood Village, LLC
Cozad - 15 multifamily units
Developed by: Mesner Development Co.
Fremont North Side Townhomes, LLC
Fremont - 18 multifamily units
Developed by: Mesner Development Co.
The Row Orchard, LP
Grand Island - 24 multifamily units
Developed by: Hoppe & Son LLC
CenterPointe South Street Project, LLC
Lincoln - 32 special needs units
Developed by: CenterPointe, Inc.
Gatehouse Rows, LP
Lincoln - 98 multifamily units
Developed by: Hoppe & Son LLC
131 Fort, LLC
Omaha - 80 age restricted units
Developed by: Foundations Development, L.L.C.
2215 Q Street, LLC
Omaha - 40 age restricted units
Developed by: Foundations Development, L.L.C.
HPIV, LLC
Omaha - 70 multifamily units
Developed by: Seventy-Five North Revitalization Corp / Brinshore Development, LLC
Villa Rows L.P.
Omaha - 23 multifamily units
Developed by: Holy Name Properties, Inc.
Omega West Point, LTD.
West Point - 22 multifamily units
Developed by: Hoppe & Son LLC
Woodland Commons, LLC
Claremore - 84 age restricted units
Developed by: LW Development, LLC
Lake Ridge Senior Villas, LP
Eufaula - 24 age restricted units
Developed by: Arzon Housing Corporation
Glenpool Ridge, LP
Glenpool - 76 age restricted units
Developed by: Red-Wood Development, Inc.
Jay Wisdom Keepers, L.P.
Jay - 40 age restricted units
Developed by: Green Companies Development Group
North Pointe DLP, LLC
Oklahoma City - 184 multifamily units
Developed by: DLP Development LLC
Oklahoma City - 85 multifamily units
Developed by: Express Development / Desert Ridge Investments
The Villages at A New Leaf, LP
Owasso - 62 special needs units
Developed by: Excel Development Group
Davison Court Limited Partnership
Mitchel - 25 multifamily units
Developed by: Grandview LLC
Denali Ridge Limited Partnership
Pierre - 40 multifamily units
Developed by: Grandview LLC
Heartland Heights Apartments LP
Rapid City - 41 multifamily units
Developed by: Rapid City Club for Boys Inc.
Jefferson Village Apartments LP
Sioux Falls - 29 multifamily units
Developed by: Y Housing V LLC
Meet Antonia. Her laugh will make you smile, and her stories will make you laugh. She enjoys visiting with those in her community and loves to stop by her property management’s office to have a daily chat. If she’s not conversing with neighbors, listening to music, or watching a show in her apartment, she’s at church. The kinship and stability she has created at Technology Heights hasn’t always been her living experience.
Antonia, originally from St. Louis, moved around often while growing up in foster care and had become accustomed to the lifestyle of frequently relocating and eventually found herself in Sioux Falls, South Dakota. Unable to work full-time due to medical reasons, Antonia has relied on disability benefits to provide for her family sometimes finding herself living in places that weren’t as safe as she’d like. Fortunately, the housing authority connected her with Lloyd Companies and Technology Heights and she hasn’t left since.
“Lloyd Properties is amazing,” she gushes. “I appreciate living here, I value it.” Antonia is aware that not all apartment communities are the same. “I didn’t feel safe in some of my previous places, they weren’t maintained, and they let anyone move-in.” Technology Heights provides secured entrances, nightly patrol, as well as several other amenities. “They have two community rooms, a computer/business center and utilities are included!”
Having the utilities included has been very beneficial. In the past there were times when she would have to choose food for her kids or the utilities. “It was very stressful, there were times when I almost had them turned off. There were times when I had to donate plasma to get money to buy food for my kids,” she remembered, or she would have to find other programs that could assist her.
Today, living at Technology Heights with affordable rents and utilities paid for allows Antonia some financial freedom. “This place has provided me stability, a community with family… I’m not planning on moving anytime soon.”
Technology Heights (I and II) consist of 78 units and was funded through MHEG Fund 44, LP and MHEG OZ Fund 1, LP. It is currently managed by Lloyd Property Management.
“This place has provided me stability, a community with family.” ~ Antonia
In 2021, MHEG raised $315 million in equity capital. Since inception, MHEG has raised over $2.7 billion of equity capital to invest in affordable housing.
Barry Sandstrom - Retired President/CEO, Home Federal Bank - Chairman of the Board
Dennis Brand - Chairman of the Executive Committee, BancFirst - Vice Chairman of the Board
Kirk Kellner - Retired Tri-State Regional President, Wells Fargo - Secretary of the Board
Frank Hayes - President, Hayes & Associates, L.L.C.
Chris Hite - President, Sugar Creek Capital
Dan Lonergan - President, Tenaska Capital Management
Nicole Theophilus - Chief Human Resources Officer, Wabtec Corporation
John Wiechmann - CEO/President, Midwest Housing Equity Group
Frank Hayes - Hayes & Associates
Chris Hite - Sugar Creek Capital
Kirk Kellner - Retired, Wells Fargo
Dan Lonergan - President, Tenaska Capital Management
Central Region Operations & Investment Committee
Bob Arthur - Commerce Bank, N.A.
Mark Dennett - INTRUST Bank, N.A.
Tracy Howren - UMB Bank, n.a.
Michael Scheopner - Landmark National Bank
John Wiechmann - Midwest Housing Equity Group
Victoria Facto - Bankers Trust
Tom Hanafan - Pottawattamie County Board of Supervisors
Susan Whitson - First National Bank of Waverly
John Wiechmann - Midwest Housing Equity Group
Dennis Brand - BancFirst
Barry Sandstrom - Retired, Home Federal Bank
Nicole Theophilus - Wabtec Corporation
Northwest Region Operations & Investment Committee
Anthony Cerasoli - First National Bank of Omaha
Jerry Cihal, Retired, Mutual of Omaha
Justin Horst - Pinnacle Bank
Randy Ilich - Colorado Federal Savings Bank
Lauren Pugliese - Nelnet
Carl Sjulin - West Gate Bank
John Wiechmann - Midwest Housing Equity Group
Brent Bates - City Bank
Roger Beverage - Oklahoma Bankers Association
Dennis Brand - BancFirst
David King - MidFirst Bank - Tulsa
Tom O’Keefe - INTRUST Bank, N.A.
John Wiechmann - Midwest Housing Equity Group
Becky Christoffersen
Chief Investment Officer
Jason Main Chief Financial Officer
Tom Stratman Vice President of Acquisitions
Jordan Abboud Vice President of Asset Management
Sara Church Asset Manager
Traci Collins Acquisitions Manager
Pat Michaelis Vice President Business Development Officer
Andrea Frymire Vice President Business Development Officer
Ann Burge Chief Operating Officer
Scott Fitzpatrick Vice President Business Development Officer
John Wiechmann Chief Executive Officer & President
Dustin Daugherty Construction Manager
Lisa Bryan Administrative Coordinator
Kelli Baker Asset Manager
Tracy Connor Corporate Accountant
Tyler Arens Acquisitions Manager
Carmen Clyde Financial Analyst
Leah Davis Closing Manager
Not pictured: Dallas Anderson, Closing Manager
Sammy Ehtisham Assistant Vice President of Acquisitions
Laurie Stephenson Deputy Director of Compliance
Shannon Powers Closing ManagerReal Estate
Shannon Foster Accounting Manager
Josh Rauner Fund Reporting Manager
Brooke Smith Senior Asset Manager
Dana Oswald Accounting Coordinator
Keely McAleer Corp. Communications & HR Administrator
Deb Swanson Closing Manager
Ryan Harris Acquisitions Manager
Brad Reiff Acquisitions Manager
Brett Helt Financial AnalystAsset Stabilization
Jake Jacobsen Construction Manager
Steve Gross Senior Financial Analyst
Amanda Raak Financial Analyst
Cindy Wieck Administrative Assistant
Shellie Vandeman Compliance Specialist
Shannon Johnson Accounting Assistant
Sharita Nelson Compliance Specialist
Mike Powley Deputy Director of Operations
Joshua Yurek Director of Government Affairs
Cole Rogers Financial Analyst
Trey Mendlik Financial Analyst
Kara Tuccitto Compliance Specialist
Deb Holcomb Compliance Specialist
Laura Wilson Associate CounselReal Estate
Mike Williams Director of Acquisitions
Midwest Housing Equity Group
515 N. 162nd Avenue, Suite 202 Omaha, NE 68118 www.mheginc.com
