PK Companies (PK) is committed to creating partnerships that provide housing solutions to better fulfill the needs of our communities. We strive to add value to the areas we serve and enrich the lives of our residents. We deliver answers to housing needs that address the wants of our residents and strengthen the wider community. Through our comprehensive strategy, we purchase, develop and manage properties that offer opportunities for creative housing solutions. Our experienced and knowledgeable team works to meet the needs of each neighborhood in a coordinated effort with community leaders to better serve residents.
PK is a family-owned real estate firm based in Okemos, Michigan. We were originally formed as PK Housing & Management Inc. in 1981 by Ronald J. “Pete” Potterpin as a full-service property management company. Prior to forming PK, Pete started his career in real estate by operating the affiliated property management company of a large Midwest-based developer of affordable housing. PK Housing & Management still operates today, through which we manage a varied portfolio of multifamily housing and mixed-use developments. Starting in 1990, PK began acquiring and rehabilitating affordable housing properties, and we’ve been building our portfolio ever since. In 1999, PK Construction Company was formed to act as a general contractor on our own development projects. In 2006, PK Development Group was formed to accommodate the growth of the development business.
Over the years, Pete’s family has grown into the business and, after having developed their own expertise, comprise the core leadership team of PK. Terry Potterpin is a former Enrolled Agent and owned her own accounting firm for years. Terry serves as PK’s CFO and oversees the day-to-day operations of our property management business. Chris Potterpin, Vice President of PK Companies, is an expert at deal asset management, underwriting and financial analysis. He also has experience working for a regional tax credit syndication firm. Chris now operates the day-to-day business of PK Development and primarily works to identify new development opportunities. Chris and Pete also oversee the operations of PK Construction. Lindsey Klug has worked from the ground up in the property management business, much like her father, and has transitioned from one of the company’s most effective area directors to Vice President of Management, where she works hand-in-hand with Terry to lead our management business.
PK is a Michigan-based company and has historically done most of our business here, but the company is not constrained by geography for the right opportunities. In 2009, we first expanded our footprint to Texas through a strategic partnership and have since completed 12 tax credit developments across the state. Likewise, in 2014 we expanded west, developing three tax credit deals in California. Our portfolio now consists of completed projects and managed properties in Michigan, Indiana, Ohio, North Carolina, Missouri, Texas and California. We have extensive experience working in rural markets as well as urban core communities like Detroit, Grand Rapids, East Lansing and Flint.
PK is a specialist in affordable housing and is quite active with the low-income housing tax credit program, historic preservation tax credit program, new market tax credit program and opportunity zones. We have strong relationships with the national and applicable state offices of USDA Rural Development and HUD, as well as the various state and local economic development and housing agencies that we work with on a daily basis. With our growing expertise and new strategic partnerships, PK has successfully diversified its portfolio to include more urban, conventionally financed, market-rate and mixed-income developments.
PK Housing & Management currently manages a varied portfolio of both affordable and conventional multifamily housing
PK Development Group (PKD) was formed in 2006 to accommodate the growing capacity of the company in the development business.
PK Construction Company LLC (PKC) was formed in 1999 as an adjunct to PK Housing & Management to act as a general contractor to PK’s own development projects.
PK Development Group
PK Development Group (PKD) was formed in 2006 to accommodate the growing capacity of the company in the development business. Through PKD, we have found our most fruitful growth opportunities and successful development projects through three methods: creatively using a multitude of financing programs, expanding our geographic footprint into new states across the country, and forming very strategic partnerships with both for-profit and nonprofit organizations with which we share a common vision and principles.
PKD has become the top allocated low-income housing tax credit (LIHTC) developer in Michigan, and a top five rural developer in the United States. While the LIHTC program is where we earned our stripes, PKD has syndicated, received financing for and successfully delivered projects using new market tax credits (NMTC), historic rehabilitation tax credits, tax increment financing (TIF), conventional financing products, grants and tax abatements. Several of our recent projects have used more than one of these programs to deliver a successful development.
In Detroit we work with Invest Detroit, Midtown Detroit Inc. and other organizations to deliver smaller rehabilitation projects such as Rainer Court and 439 Selden.
PK began expanding geographically in its infancy by forming partnerships and completing projects in Texas. Our development arm continues to grow our footprint by capitalizing on the right opportunities across the country. For example, PKD is currently leading a development in Branson, Missouri, on a workforce housing project. We’ve formed a partnership with a group in North Carolina to deliver affordable housing to one of the local communities. In addition, our recent acquisition of a large portfolio of properties across Indiana and Ohio will lead to the completion of several redevelopments and LIHTC bond deals. Our ability and flexibility to formulate unique financing structures, formation of strategic partnerships and geographic expansion have all lead to the success of PKD and PK Companies as a whole.
PK Construction Company
PK Construction Company LLC (PKC) was formed in 1999 as an adjunct to PK Housing & Management to act as a general contractor to PK’s own development projects. Due to the high amounts of USDA-RD projects needing the upkeep, PKC has been able to work solely on those projects owned or developed by PK. PKC specializes in the occupied rehabs with only temporary relocation needed for the convenience of the tenants. In 2015. Our teams work as needed to ensure the PK standards of finishes are upheld across all of our renovation projects.
The typical scope of work in apartment construction and rehabilitation projects includes repair, replacement or construction of exteriors, including roofing, windows, siding and doors; interiors, including flooring, cabinets, countertops, plumbing and electrical fixtures, doors and trim, painting and drywall repair; building systems, including HVAC, electrical, plumbing and mechanical; and grounds, including sidewalk and parking lot repair or resurfacing, parking and property lighting, signage, general landscaping and new property or tenant amenities. Designated barrier-free apartment units and the accessible common areas are constructed or reconstructed as necessary to meet current ADA/ UFAS requirements. With each project we rehabilitate, PK finds a way to give the residents not only a community space to enjoy the outdoors, but a community room where tenants have the ability to gather.