About Garrrison Companies

The Garrison Companies consists of Garrison Development Company, Garrison Construction Company, and Garrison Management Company.

 

Garrison companies

 

History

Garrison Companies started out with a dream and desire to provide new construction, affordable rental housing development to rural areas in the Midwest and Southeast has grown into a multi-dimensional real estate development firm engaged in medium to large scale mixed-use development, adaptive re-use of historic structures, urban in-fill redevelopment, and market rate and affordable rental and for-sale housing in a 10-state area, including states in the Midwest, Mountain and Southeast United States. In 1996, Garrison built a 18-unit apartment community in Chadron, Nebraska for affordable renters. Since then, Garrison has constructed and rehabbed over 1000 living units and has been involved in mixed use development in second and third-tier cities in its 10-state area. Over $100,000,000 in asset value has been created.<br><br>From March, 1991 to November, 1997, Garrison Hassenflu served as Owner/Broker of Garrison Commercial, Prairie Village, KS, where he has acted as a broker of all types of commercial real estate, and as an independent consultant on the acquisition/rehab, site selection, tax credit application and financing of low to moderate income housing tax credit projects in Missouri, Kansas, Iowa, Nebraska, Oklahoma, Utah and Colorado. In November, 1997, Mr. Hassenflu formed Garrison Development Company (GDC) to develop LIHTC and mixed income developments in the above areas. In April, 2001, Mr. Hassenflu formed Garrison Management Company (GMC) to manage the LIHTC communities that GDC developed. GDC and GMC operate to the present day.

Garrisons development staff is very knowledgeable and capable in combining numerous public and private sources of funds to make an affordable projects and urban infill projects feasible. They have been successful in working with many communities that see the benefits of developing safe, clean, affordable housing and in the redevelopment of their urban and historic districts. These benefits include the extra dollars spent in the community by keeping current residents and bringing others in from out of town, providing nearby housing for employees of local employers, construction dollars spent locally by employing area labor and by purchasing materials from area suppliers, and the payment of property taxes to supplement the City's tax base, and re-energizing historic structures that are a major part of the historic fabric of a community.

 

Garrison Management Company

Located in Kansas City, Missouri Garrison Management Company oversees the management of properties owned by affiliates of the Garrison Companies, Garrison Development Company and Garrison Hassenflu, and to fee-manage select properties owned by third parties.

For more information please contact Kathy Devaney, Director of Property Management.

Garrison Management Company

PO Box 410417

Kansas City, MO 64141

Phone: (816) 474-4857

Fax: (816) 474-4867

 

Construction

Garrison Development Company was formed to develop, acquire and rehabilitate affordable multi-family housing, targeted for communities with a population of 4,000 or more in Kansas, Missouri, Nebraska, Colorado, Utah Mississippi, Arkansas, Kentucky and Oklahoma.
Garrison is teamed up with RL Fauss Builder’s Inc. (RLF), Fremont, NE, to operate Construction Dynamics, LLC, (CD), an entity formed to perform construction services on Garrison’s projects. In its two-year existence, CD has been responsible for over $25MM in construction on two projects and is slated to perform work on another 5 projects in the next 12 months. RLF has been in the construction business for over 25 years and successfully completed 6 projects for Garrison prior to the creation of the CD collaboration. CD’s address is 839 S. Broad St., Fremont, NE 68025. John Wygoski is the company’s contact person at 402-941-2434.

 

Equity Origination

Through Garrison Equities, Garrison Companies provides quality investment opportunities via Low Income Housing Tax Credits (LIHTC) and Historic Preservation Tax Credits (HTC) programs.  These federal and state tax credit programs provide a dollar-for-dollar reduction in the investor’s tax liability for up to 10 years, while providing equity funds for the development of quality affordable housing. 

How the Investment Works
The investor receives a flow of tax credits from Garrison Equities at a discount; for example, an investor will pay $0.85 for every $1.00 of tax credit received (discount levels are market-based and determined on a project-by-project basis).  In addition, investors receive the benefits of the depreciation and interest expense deductions which flow from the property.  The investor’s financial return is generated from the annual tax savings, along with the depreciation and interest deductions; essentially turning the investor’s tax liability into a 10 year annuity investment opportunity, with significant returns.

Benefits Summary:

  • Fixed annuity for 10 years
  • Turns tax liabilities into investment opportunities
  • Very low risk
  • Community Reinvestment Act (CRA) benefits for bank investors
  • Public relations opportunities for all investors

 

 

 

 

 

Welcome
Welcome
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Welcome
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Canstruction and Professional Management
of Multi-Family low income Housing apartment homes.

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