Bowman Properties, Incorporated is a privately held company incorporated in 1981. Prior to 1981, Bowman Properties was a fully owned subsidiary of Bowman Corporation that provided residential as well as commercial real estate services in the Duluth area since 1924. We have a proven track record for quality management of multi-family developments and have earned the trust and respect of our business partners through the application of sound strategies, policies and systems implemented in a flexible manner.

 

    While the company has worked in western Minnesota, and northern Wisconsin, our primary service area is Duluth and Northeastern Minnesota. The primary activity of the company is marketing and management of multi-family real estate. In addition to fee management, we provide accounting, compliance, technical and management consulting services on a limited basis. The principals have development experience (approximately 650 units of housing were developed by Bowman Company staff between 1968 and 1992), but development is not a current business focus. Re-finance, syndication and brokerage services are available to current clients and provided as requested.

 

    Bowman Properties’ experience includes market rate and common interest housing as well as administration of numerous housing programs including HUD Section 8, HUD Low Rent Public Housing, HUD Section 236, HUD Section 202, HUD Section 223f, HUD Section 221(d)(4), Rural Development 515, HOME, Section 42 Housing Tax Credits, CDGB and Federal Home Loan Bank.

 

    Portfolio diversity strengthens our position in the marketplace by being able to apply a wide range of experience and expertise and through the ability to offer customers a wide variety of housing choices. Our customers (residents) include a mixture of low, moderate and upper income seniors and families. Our clients (owners) include a mixture of Leasehold Cooperatives, Non-Profit Corporations, Housing and Redevelopment Authorities, Limited Partnerships, Limited Liability Corporation, General Partnerships, Sole Owners and Condominium/Townhome Associations.

 

    Bowman Properties is the management partner in four current and three proposed housing developments all of which are part of the Duluth HRA’s HOPE VI initiative. All are general occupancy, mixed income developments offering a combination of market rate housing, subsidized housing under the HUD Section 8 program and the HUD Low Rent Public Housing program, and tax credit units. Renaissance at East Hillside, offering 19 units, opened for occupancy in 2003; Harbor Highlands, offering 44 units, opened for occupancy in October of 2005; Village Place, offering 55 units, opened for occupancy in January of 2006 and the Village at Matterhorn, offering 96 units opened for occupancy in December of 2006. Harbor Highlands – Phase II consisting of 42 units has been funded and is under construction. Phase III and IV of Harbor Highlands are in the pre-development and financing stage.