Northwest Real Estate Capital Corporation (NWRECC) is a 501(c)(3) Idaho corporation specializing in the property management and rehabilitation of HUD/Section 8, Rural Development, 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.
NWRECC owns or manages properties in Alaska, Arizona, Idaho, Montana, Nevada, Wyoming, and Oregon, and is constantly looking for new properties to add to its portfolio both through acquisition and third-party management.
NWRECC owns or manages properties in Alaska, Arizona, Idaho, Montana, Nevada, Wyoming, and Oregon, and is constantly looking for new properties to add to its portfolio both through acquisition and third-party management.
Services
We are committed to preserving affordable housing, enabling life with dignity for our residents and creating a quality work environment for employees. We promote integrity and teamwork as the foundation for our involvement in affordable housing and with our business partners, including employees, residents, government agencies, vendors and financial stakeholders.
Northwest Real Estate Capital Corp. is governed by an uncompensated five-member outside Board of Directors. The Board provides the company with a broader perspective for strategic planning, monitors the company's adherence to its mission of affordable housing preservation and its status as a tax-exempt organization.
Since 2004, Northwest has preserved affordable housing for 774 families (including 234 elderly) across Idaho and Oregon. Through a significant rehabilitation, averaging $36,000 per unit, the economic useful life of these multifamily apartment complexes is extended at least 30 years. Project costs totaled $72 million, supported by $41 million of permanent financing and $21.2 million from investors' contributions.
Our goal is to become a "stepping stone" towards a brighter future by providing services along with superior affordable housing to enhance the quality of life for our residents. To date, twenty Resident Service plans have been developed and implemented that identify the needs of each resident and community.
With nine state of the art computers and numerous community partners including Boise State University, Idaho Department of Labor, World Relief, Qwest, Crime Stoppers, Mountain West Bank, NASA lined up to provide an array of services and resources. This computer center is Northwest Real Estate Capital Corp.'s model for future centers to be opened with our affordable housing communities.
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