Belmont Development

Featured Project

The Savannah at Gateway is a senior (55+) community. Nestled just north of the intersection of Shiloh and Renner roads in Plano, Texas, The Savannah is a place where you can renew old activities or explore new interests in a relaxed and inviting environment. Find your new home at The Savannah – enjoy a beautiful atmosphere in a convenient, suburban location. The Savannah features many luxury amenities, including an attractive community center, a fitness facility, a business center, a spa-style pool, and greenbelt. 

About

Belmont Development Company was formed in 2007 for the primary purpose of developing its large USDA Rural Development portfolio in Oklahoma, Arkansas, Texas, Kansas, Missouri, and Colorado. Belmont’s goal is to preserve affordable housing in these communities by rehabilitation through the Low Income Housing Tax Credit Program. Since its inception in 2007 Belmont Development has fully completed 31 LIHTC developments which make up over 1600 rehabilitated and new construction affordable housing units.

Belmont Development has tremendous experience working in the Low Income Housing Tax Program. This experience includes, but is not limited to site selection, pre-development due diligence, preparation of LIHTC applications, approval awards for LIHTC funds, securing all necessary private financing, post-award due diligence with financial providers, construction oversight, project lease-up oversight, timely credit delivery, and finally continuous stable sustainable occupancy. Part of what has allowed us to enjoy the success we have is our detailed knowledge and experience with a variety of funding mechanisms as well. Whether it be acquiring securing a HOME loan through HUD’s HOME Investment Partnership program, utilizing grant funds from FHLB’s AHP (Affordable Housing Program), or applying for USDA RD’s 538 or HUD’s 221(d)(4) loan programs we have the knowledge and expertise to not only layer the best possible combination of funds, but also navigate the complicated web of ensuring compliance with all of the various regulations and guidelines associated with each individual program.

Ryan Hudspeth, Principal/Founder

Hudspeth is the founder and Key Principal Member of Belmont Development. After initially developing affordable housing on his own through RAH Investment, Hudspeth founded Belmont Development Company in 2007. At that time he brought on longtime friend Derrick Hamilton to help get the newly formed business up and running. In just 10 short years, Hudspeth has led Belmont to grow from 2 individuals working out of the living room of a rental house, to a staff of 8 full time employees and arguably one of the most successful affordable housing development companies in the Midwest over the last decade. In addition to overseeing Belmont Development, Hudspeth is also the Principal Member and founder of Belmont Construction and the sole Principal of Belmont Management Company. Hudspeth is currently the Principal Member/General Partner in over 110 Affordable Housing Developments representing nearly 5,000 housing units across 7 states.

Derrick Hamilton, Principal

Hamilton is principal member of Belmont Development Company with over 12 years of real estate development and affordable housing experience. His affordable housing experience is focused on the acquisition, rehabilitation and new construction of affordable housing developments. Hamilton is also a key principal of Belmont Construction. He focuses much of his time on the post-award process during the actual construction/rehabilitation phases of the development lifecycle. He is the lead contact at Belmont for construction oversight and is integrally involved in all development aspects post-closing. He holds certifications in HOME and Fair Housing Policy.

Shawn Smith, President

Smith has over 18 years of finance experience with 15 of those focused on affordable housing. He is a former employee of the Oklahoma Housing Finance Agency (OHFA) with a vast knowledge of how to be successful at getting awards of Affordable Housing Tax Credits. Smith works closely with various lenders and syndicators to ensure the financial structure of affordable development is optimal. He also leads the process for closing projects including negotiating partnership agreements and loan documents as well as overseeing all financial aspects of the project during construction. Smith has submitted, assisted in submitting, and/or consulted on funding applications which resulted in the creation or preservation of over 3,400 affordable housing units. Smith is a Certified Tax Credit Professional and a Certified HOME Program Specialist.

Corey Farmer, Vice President

Farmer has over 10 years of experience in the development of affordable housing on both the Public and Private sides. After spending his first 5 years at OHFA, he joined the Belmont team and has helped oversee numerous successful developments, while specializing in front-end evaluations and funding application preparation and submissions. Farmer is a Certified Tax Credit Professional and a Certified HOME Program Specialist.

Lainey Schubert, Development & Loan Analyst

Schubert has over 20 years of affordable housing experience and works with Belmont Development Company as their Development and Loan Analyst. She will coordinate business organization documentation and third-party reports required during the pre-development process. Schubert is experienced in compliance and reporting and will assist in document review and ensuring timely submissions to appropriate agencies. She is a Certified Tax Credit Management Professional, Compliance Specialist, Fair Housing Specialist, and is experienced in simultaneous loan closings with multiple lenders.

Greg Rodewald, Acquisitions Manager

Rodewald has over 26 years of affordable housing experience. He assists in the coordination of both site and building acquisitions and application preparation during the development process. He has many years’ experience in developing appropriate capital resources and will assist in coordinating the development of multiple funding sources. He has extensive experience in the evaluating capital stack needs including but not limited to the following: Tax Exempt Bond Financing, HOME, CDBG, LIHTC and HRTC. He also has experience in HUD 236 decoupling, 221(d)(4), 202/811 and Section 542 Risk Sharing Loans. Mr. Rodewald holds the following National Certifications: Housing Development Finance Professional (HDFP), Economic Development Finance Professional (EDFP), Certified Housing Asset Manager (CHAM) and Non-Profit Housing Management Specialist (NHMS).

Pam Miller, Development Coordinator

Pamela has over 15 years of experience with Oklahoma Housing Finance Agency as Financial Analyst. There Pamela underwrote Developments, reviewed Applications, and processed all necessary paperwork for all funding sources, including LIHTC, HOME, and National Housing Trust Fund. She was also the lead Analyst on Multi-Family Bond transactions, coordinating with OHFA’s bond professionals and tracking all steps towards closing transactions. Pamela will use that experience to assist Belmont in preparing Applications and with overall program delivery. Certifications: Member of Kansas Bar, non-practicing, Certified HOME Program Specialist-Regulations, NDC Housing Development Finance Professional.

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  • GardenWalk of Coweta


    Location:
    Coweta, OK
    Role:
    Developer, General Contractor
    Built:
    Under Construction; Scheduled for Completion in 2017
    Funding:
    LIHTC, RD
  • GardenWalk of South Fork


    Location:
    South Fork, CO
    Role:
    Developer, General Contractor
    Built:
    Scheduled for Completion in 2017
    Funding:
    LIHTC, RD
  • SavannahPark of Charleston I & II


    Location:
    Charleston, AR
    Role:
    Developer, General Contractor
    Built:
    Scheduled for Completion in 2017
    Funding:
    LIHTC, RD, HOME