For Municipalities & Public Agencies
Turning underutilized public real estate into workforce housing.
The Problem We Solve
Vacant public buildings cost money. We put them back to work.
Municipalities often hold distressed, vacant, or underutilized institutional real estate: closed schools, former hotels, vacant civic buildings, and church properties. These assets drain maintenance budgets, attract code violations, and sit outside the core mission of local government.
FCS-REG acquires or partners on these properties and converts them into workforce and affordable housing. The result is a responsible disposition, a renewed community asset, and a long-term operating partner accountable for execution.
How We Work With Municipalities
Three paths to a responsible outcome.
Direct Acquisition
We acquire the asset at fair value, relieving the municipality of maintenance liability and back taxes while preserving the public interest through deed restrictions and community-use covenants where appropriate.
Public-Private Partnership
Ground lease, lease-purchase, or long-term disposition structures that keep public ownership of the land while FCS-REG finances, develops, and operates the housing under a negotiated agreement.
Joint Development
We partner with housing authorities, redevelopment authorities, and CDCs to combine public land or subsidies with private capital and tax-credit financing.
What We Bring
Capital, expertise, and a process built for public assets.
Acquisition capital ready to close on distressed and surplus assets
Adaptive reuse development expertise for schools, hotels, churches, and civic buildings
Tax credit structuring: LIHTC, NMTC, HTC, and HUD/FHA financing products
Workforce development integration so local residents train on the project itself
A track record of closing on functionally obsolete institutional properties
The Process
From first conversation to completed project.
Initial Property Review
Share the asset, jurisdiction, and any known conditions. We review site history, zoning, and entitlement feasibility before any formal commitment.
Underwriting & Capital Structuring
We model the reuse, identify applicable tax credits and subsidies, and present a capital plan that shows how the deal can close.
Partnership or Purchase Agreement
We structure terms with the municipality or authority, including community protections, timeline, and disposition mechanics.
Redevelopment & Community Integration
We execute construction, partner with local workforce programs, and deliver long-term affordable or workforce housing.
Properties We Look For
If it can become housing, we will underwrite it.
Vacant or underutilized schools and educational buildings
Shuttered hotels, motels, and extended-stay properties
Former institutional or civic buildings
Church properties and religious institutional assets
Tax-delinquent parcels suitable for infill or redevelopment
Start a Conversation
Have a property that could fit? Let's talk.
Initial conversations are confidential and non-binding. Tell us about the asset, the jurisdiction, and the timeline, and we will respond with a direct assessment of fit.