Founded in 1971 by Harry R. Chadwick, Jr., Carteret Management Corporation is a service-oriented, privately held and family operated corporation with 40 years experience in managing apartments throughout Florida in the private sector and under Sections 236, 202 and 8 of the National Housing Act. The Carteret approach to property management is one that promotes accountability and oversight to ensure effective adherence to stringent standards and compliance with HUD regulations and guidelines. We take a proactive, hands-on approach to property management to achieve a common objective with our for-profit and nonprofit organizations: to provide safe, comfortable, and attractive residential communities that meet the continuing needs of residents.
Carteret has been a long time partner with HUD in providing affordable housing to low income citizens. Indeed, its Owner, James Chadwick, enjoys a unique relationship with HUD in that for over 25 years he was a principal of RGR, Inc., a housing consultant firm that worked with nonprofit organizations to develop and construct affordable housing for low-income households financed through HUD. As a result of this partnership and our management experience, we are closely familiar with all of HUD’s financial and property management requirements, including reporting, fees, auditing, record maintenance, replacement reserve and special escrow procedures, bid/contract approvals, and cost allocation authorization.
Along with its extensive HUD experience, Carteret is an approved management agent through the Florida Housing Finance Corporation for handling Low Income Housing Tax Credit programs. Carteret is fully equipped to handle the responsibilities of tax credit management, from lease up of new construction to oversight of acquisition/rehab projects, as well as the ongoing compliance burdens associated with tax credits. Additionally, Carteret is a registered Real Estate Company through the Florida Department of Business and Professional Regulation.
Currently the Carteret portfolio is comprised of 22 properties (2,750 units), six of which have been under Carteret’s management since their inception. The success of our property and asset management work is demonstrated in the solid financial footing and excellent physical condition of these projects.