TISHCO Development Inc.

Company Profile

TISHCO Development Inc strives to build all projects to maximize the benefits to all stakeholders and deliver its projects on time and within budget. TISHCO Development was formed in 2014 to carry on the responsibilities of its predecessors, in operation since 1975 and specifically focuses on development of new property and renovation of existing properties. This team has been responsible for fully developing over $250 million in rural economic and community development properties, including conventional multifamily, subsidized housing, elderly housing and congregate care facilities, through its affiliates JT Development, Lowndes Supply Co. and Mortgage Group South Corporation.

Our Team

Mary T. Johnson

President

Mary has 35 years of experience in property management and development. She is the managing member and responsible Principal for partnerships developing and maintaining full profit, limited profit, elderly and low-income housing properties. She has been involved and represented in $200+ million in total development value. Mrs. Johnson is a Georgia Real Estate Broker who holds a Georgia Contractor’s License. She has served on boards for the National Leased Housing Association and Council, Affordable and Rural Housing and various community charity boards. Mrs. Johnson is a graduate of Valdosta State University with a Bachelor of Business Administration degree.

Marguerite Johnson

Chief Financial Officer

Marguerite has 31 years of experience in public accounting, including 15 years in the real estate industry. She is licensed by the state of Georgia as a Certified Public Accountant, and is a member of the Georgia Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Ms. Johnson graduated from Valdosta State University with a Bachelor of Business Administration Degree.

Steven T. Johnson

Executive Vice President

Steve has his commercial contractor’s and residential contractor’s licenses in both Georgia and Florida. He graduated from Southern Polytechnic State University with a Bachelor of Science in Construction Management with an emphasis on General Construction and has his Georgia Real Estate License with 16 years of overall experience in real estate and construction.

Brandon Dampier

Chief Operating Officer

Brandon is a Certified Public Accountant licensed by the State of Georgia. He has 12 years of experience in public accounting and 4 years in the real estate industry. Mr. Dampier is a member of the Georgia Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Mr. Dampier graduated from Valdosta State University with a Bachelor of Business Administration Degree.

Theresa Crumley

Accounting & Investor Analyst

Theresa has over 30 years of experience in the preparation and analysis of financial and investment reports, legal documents and budgets. Mrs. Crumley works with other team members in support of equity and real estate closings. She is responsible for managing all investor services, preparing distribution control sheets, drafting investor consent solicitations, facilitating transfers of interest and managing HUD APPS compliance. She also assists the CFO, auditors and tax preparers throughout the year, with special emphasis during tax season and year-end audit preparation.

Livia Tatum

Insurance Specialist & Administrative Assistant

Livia has over 30 years of experience providing support for housing tax credit application packages and mark to market programs. Livia provides support to the President and all other officers of various affiliated companies. During tax, budget, application and real estate closings, she facilitates each team with an emphasis on all insurance matters for new projects, rehabs, renewals, and audits. Livia also supports annual budget review, implementation and expense control, conferences, annual real estate trust account reviews and year-end compliance.

Financing Capability and Experience

Dewar Properties and TISHCO Development are well-versed and experienced in many different types of project financing and housing programs. Nearly all of the 50+ projects developed by this firm have involved construction financing which converted to or was replaced by permanent project financing upon completion of the project. Our extensive experience with a wide array of permanent financing arrangements and programs includes traditional debt/equity, 221(d)4 loans, tax-exempt bond financing, tax credit financing, Rural Development affordable housing programs, various HUD affordable housing programs, and others.

Project Experience

TISHCO Development and its staff have an extensive track record of multifamily housing projects. TISHCO Development and its affiliates have developed more than 50 multifamily projects in several states, for a total development value of over $250 million. A sampling of our most recent developments is shown below.

Harbor Square Apartments, Hinesville, GA – 340 Units Currently Under Renovation

The Harbor Square Apartments project consists of 340 units in Hinesville, GA. This project involves Federal and State LIHTC financing, as well as a HUD-insured mortgage. TISHCO Development and its affiliated companies have managed the design, financing and construction of this project while maintaining strong occupancy and meeting all regulatory and compliance requirements of both LIHTC and HUD programs. The property will be completely refurbished at a total development cost of $32 million, with nearly all systems and finishes being replaced.

Deerfield Apartments, Douglas, Georgia

The Deerfield Apartments project consisted of an extensive renovation of 72 multifamily units, originally built by TISHCO Development’s affiliated companies in the late 1980’s. The scope of the project involved new roofs, exterior doors and trim, windows, complete kitchen renovations including cabinets and appliances, all new flooring, insulation, new mechanical, electrical and plumbing systems and new site amenities, as well as the addition of four entirely new units to the property. The project encompassed 62,500 square feet, renovated at a total development cost of $9,548,293. This was a fully-integrated project for our company with development, construction and property management roles all fulfilled by affiliates of TISHCO Development.

Summerville Gardens, Summerville, Georgia

The rehabilitation of the Summerville Gardens apartments in Summerville, Georgia included the extensive renovation of 77 multifamily units, originally built in 1978. This 70,000 square foot project involved new roofs, exterior trim, exterior doors and windows, complete kitchen renovations including cabinets and appliances, all new ceilings and flooring, new thermal insulation, new mechanical electrical and plumbing systems and new site amenities. The project was completed at a total development cost of $9,712,006 in September 2011. This was a fully-integrated project for our company with development, construction and property management roles all fulfilled by TISHCO affiliates.

Other Projects

Project Name Units Location Contract Amount Completion
Harbor Square Apartments 340 Hinesville, GA $31,889,393 2016
Deerfield Apartments 76 Douglas, GA $9,548,293 2014
Tanglewood Apartments 49 Blakely, GA $7,932,423 2012
Summerville Gardens Apartments 77 Summerville, GA $9,712,006 2011
Heritage Square Elderly Apartments 24 Pelham, GA $2,637,922 2009
Country Lane Apartments 32 Blakely, GA $4,112,520 2009
Rolling Oaks Elderly Apartments 24 Claxton, GA $2,463,488 2008
Village Green Apartments 50 Ashburn, GA $6,031,924 2008
Pine Point Apartments 40 Folkston, GA $4,729,051 2008
Lyons Apartments 64 Lyons, GA $8,725,136 2008
Azalea Court Apartments 12 Alma, GA $1,249,355 2007
Village Square Apartments 40 Lumber City, GA $3,855,676 2007
Cypresswood Apartments 28 Pearson, GA $2,925,019 2007
Wildwood Apartments 88 Tifton, GA $8,036,600 2007
Hunter's Glen Apartments 48 Cairo, GA $4,020,000 2006
Brierwood I Apartments 56 Bainbridge, GA $5,067,202 2006
Hidden Valley Apartments 200 Wentzville, MO $4,758,367 2005
Lakewood Apartments 24 Lakeland, GA $2,171,700 2005
Rolling Oaks Apartments 88 Claxton, GA $8,286,062 2005
Oakview Apartments 24 Wrightsville, GA $2,210,400 2004
Pine Forest Apartments 64 Cairo, GA $4,860,611 2002
Brierwood II Apartments 18 Bainbridge, GA $1,346,395 2002
Woodland Apartments 40 Ocilla, GA $3,028,000 2002
Heritage Apartments 52 Jackson, GA $3,936,000 2003
Total 1,554 $143,533,543