stronger communities
Preserving affordable living
Paces Preservation Partners is a strategic collaboration between The Paces Foundation and Soho Housing Partners formed in 2020 that is focused on developing, preserving and revitalizing quality affordable housing across the Southeast. We bring together essential skills in funding strategies, public procurement, urban revitalization, and affordable housing development, services, and management to help housing authorities both revitalize aging properties and build new construction.
Soho principals’ extensive financial skills help relieve roadblocks many communities face in their revitalization projects. Combined with Paces’ industry-leading affordable housing development, and preservation services, the partnership helps housing authorities, smaller regional nonprofits, and municipal entities preserve and imagine the next generation of workforce, family, and senior housing communities.
The Legacy at Carr Heights
Charlotte, NC
What we do
Preservation and rehabilitation
Revitalizing aging, under-performing public housing or affordable units in existing communities.
New construction
Providing high-quality, energy-efficient homes for households earning low to moderate incomes.
Public-private partnership structuring
Bringing together housing authorities, municipalities, community organizations, construction, design and engineering firms, as well as private lenders to build deals that deliver long-term affordability.
Community impact
Focusing on resident stability, neighborhood revitalization, and long-term value to local economies and families, not just the bricks and mortar.
Our development work
Paces Preservation Partners continues to look for locations where we can increase and improve the supply of affordable housing in partnership with local and state governments and private financiers. Here are some of our existing affordable housing communities—new and renovated—and several that are in the early stages of development.
Lariat Village
Tucson, AZ
The Hamilton
Atlanta, GA
Avery Place
Pensacola, FL
Kupfrian Manor
Pensacola, FL
Metropolitan Place
Atlanta, GA
Cooper Green
Birmingham, AL
Autumn Ridge
Dalton, GA
Harrison Village
Gainesville, GA
Handsel Morgan Village
Buford, GA
MaryAlice Place
Buford, GA
The Legacy at Carr Heights
Charlotte, NC
Waterside Oaks
Gainesville, GA
How our deals are structured
Our affordable housing projects are built on a replicable, transparent structure involving four core elements:
Public / Nonprofit Partners
We begin with a public sector or nonprofit partner—such as a housing authority or municipality—that brings site control (land or buildings), access to public subsidy programs (for example through HUD, state housing agencies), and often tax-exempt bond capability.
Our Expertise as Developer
As Paces Preservation Partners, we bring development expertise and the ability to structure complex deals. This includes: sourcing equity (such as tax-credit equity), debt financing, coordinating construction and long-term property management oversight.
Finance Partners
Each deal typically blends multiple financing tools, including low-income housing tax credit equity, tax-exempt bonds, subsidy streams, and private capital. These structures are paired with long-term affordability covenants—often 30 years or more—to ensure households earning 30–80% of AMI have enduring access to safe, high-quality, affordable homes.
Design & Build Partners
From architects to engineers, designers to appliance specialists, concrete companies to construction firms, we work with both local and southeastern experts to bring modern, well thought spaces to life.
Harrison Village
Gainesville, GA
Why it matters
Affordable housing isn’t just about building apartments—it’s about creating community stability, economic opportunity, and neighborhood revitalization. Our model allows us to replace aging, inefficient housing with new, efficient homes; attract investment; support local jobs; and embed long-term affordability commitments. The result: stronger communities, healthier families and lasting impact.
Want to learn more?
Please contact us if you want to explore a partnership or need more information about our work.
Steve Bien
Soho Housing Partners
steve@sohohousingpartners.com
Steven Bauhan
The Paces Foundation
steven@pacesfoundation.org