Ruel Hamilton Provides Apartments to Victims of Affordable Housing Crisis

DALLAS, Sept. 30, 2015 /PRNewswire/ -- Ruel M. Hamilton, CEO and founder of AmeriSouth Realty, is seen as a savior of sorts in local communities around Texas. He primarily owns and operates Class C multi-family apartment communities, including some that were developed using Low Income Housing Tax Credits (LIHTC's). He believes that keeping and maintaining older properties is the key to fixing the affordable housing crisis. Accordingly, he pays close attention to bringing aged, crime ridden or poverty-stricken housing back to life with rehabilitation and revitalization.

"Growing up in southern Dallas, I personally experienced the growing gap between the financially elite and the lower middle class," said Hamilton. "Today this gap is bigger than ever in the U.S. and lower income people struggle to find housing that they can afford."

Most of the properties Hamilton has purchased – built in the late 1950's to early 1970's – were developed using funds provided by various FHA and HUD loan programs, a period in which hundreds of thousands of units were constructed that had rent restrictions based on income. In the mid 1990's, these properties became eligible to have rent restrictions removed by paying off the HUD loans, and changes in property development ensued.

Hamilton's goal is to save as many of these old complexes from either being torn down, redeveloped into luxury condominiums or snatched up by investors that could potentially raise the rents to unaffordable levels. He believes that regardless of how much money someone makes, everyone deserves a nice place to live, and this is a lucrative market for his business.

Hamilton currently owns and operates 2,500 multi-family units in the Dallas-Fort Worth area, but overall has owned and rehabbed 10,000 total units in Texas. His company, AmeriSouth Realty, is a real estate investment company that specializes in the ownership, development and acquisition of multi-family projects within the affordable housing industry.

To learn more about the properties and services offered, please visit: http://amerisouthrealty.com/

ABOUT

Ruel M. Hamilton is the President and founder of AmeriSouth Realty. He received his Bachelor of Arts in Political Science in 1979 and a Master of Business Administration in Banking and Finance in 1982 from the University of North Texas. Hamilton founded AmeriSouth Realty after the unexpected collapse of the savings and loan industry in 1987 and began the acquisition and redevelopment of Class C multi-family housing in 1994. Amerisouthrealty.com

SOURCE AmeriSouth Realty

Related Links

http://www.amerisouthrealty.com