About Us
American Communities is dedicated to providing thoughtfully designed, environmentally friendly housing and development while contributing to the enhancement of everyday life for the residents of each community in which we build. Our long term commitment to our partners and the communities in which we develop, ensures that our complexes are built in suitable locations, out of superior materials and constructed by expert craftsmen.
Mark Walther and Frank Fonseca, American Communities' founders, have extensive backgrounds in all aspects of affordable housing finance, development and asset management. Mr. Walther, during his 13-year tenure at a national real estate sponsor, oversaw the acquisition of 250 tax credit properties nationwide. At the same time, he was a principal of a registered broker dealer, which raised approximately $800 million in 12 separate public and private offerings registered with the U.S. Securities and Exchange Commission. Mr. Fonseca spent 15 years as a Certified Public Accountant with a Big 6 Accounting Firm and, in the 5 years prior to founding American Communities, oversaw an asset management department that controlled 35,000 units of affordable housing.
Since its inception in 2000, American Communities has financed and developed a total of 9 housing tax credit communities totaling 560 units valued in excess of $150 million. All of these developments utilized some combination of housing tax credits, tax exempt bond financing, HOME Investment Partnerships Program (HOME) funds, Community Development Block Grants (CDBG), the Affordable Housing Program (AHP), Los Angeles Affordable Housing Trust Funds (HTF), Community Redevelopment Agency (CRA) Funds or tax increment financing.
