Host Jeremy C. Park talks with Sarah Jemison, Chief Strategy Officer and Chair of the Board with ALCO Management, who shares the company’s history and mission of providing affordable housing in the Southeast, managing approximately 6,000 units across Tennessee and neighboring states. She discusses their processes for acquiring and renovating properties through various programs and partnerships, including their focus on social services and community support through service coordinators and local nonprofit collaborations. Sarah emphasizes ALCO Management’s commitment to providing quality affordable housing and long-term jobs, highlighting their new talent division and encouraging viewers to learn more about their mission, housing, and job opportunities through their online channels.
ALCO Management’s Affordable Housing Mission
Sarah Jemison, Chief Strategy Officer and Chair of the Board at ALCO Management, discusses the company’s history and mission. Founded in 1974 by her father Frank Jemison, ALCO Management focuses on developing affordable housing in the Southeast. Sarah expresses her passion for the company’s mission of providing quality homes for families and seniors, and long-term career opportunities for their team.
Affordable Housing Management Overview
Sarah explains that ALCO manages approximately 6,000 affordable housing units across Tennessee and neighboring states, with properties ranging from 15 to 270 units. She describes how affordable housing is defined by HUD as costing no more than 30% of a family’s income, and outlines their process of acquiring and renovating properties through Section 8 rental assistance and low-income housing tax credits. The organization partners with Tennessee Housing Development Agency to renovate older properties, meeting state requirements for community features while maintaining affordability for 15 to 30 years after renovation.
Property Management: Trends and Challenges
Jeremy and Sarah discuss the complexities of property management and the evolving trends in the industry. Sarah explains how technology has changed aspects of their business, such as online applications for rent recertification based on income. She also highlights the enduring importance of traditional property management practices, such as community managers conducting property walkthroughs. Sarah notes a growing focus on understanding how homes can serve as a foundation for people’s lives, even if they are not permanent residents, and the importance of programs for children in the community.
Affordable Housing Social Services Initiative
Sarah discusses providing social services for families in need of affordable housing, emphasizing the importance of embedding service coordinators to support residents with job training, healthcare, and education. She highlights the company’s partnerships with banks, city governments, and nonprofits like Agape Child & Family Services, Neighborhood Christian Centers, and Carpenter Art Garden to strengthen communities. Sarah also explains the philanthropic efforts of the company, focusing on supporting local nonprofits that benefit residents and advance affordable housing initiatives. She encourages community support through advocacy for affordable housing programs and investment in community development.
ALCO Management’s Mission and Talent Development
Sarah discusses ALCO’s mission to provide quality affordable homes and long-term jobs, highlighting their new talent division focused on employee development through leadership training, coaching, and career advancement opportunities. She expresses excitement about internal promotions and team growth, emphasizing their holistic approach to employment that balances financial and social outcomes. Sarah encourages viewers to learn more about ALCO Management’s mission, housing, and job opportunities through their website and social media channels, including Facebook, Instagram, and LinkedIn.
Visit https://www.alcomgt.com/home.aspx to learn more about ALCO Management.
