ABOUT US
COMPANY
Formed in 2011, Schaumber Development is an affordable housing developer and consultant with offices located in South Carolina and Maryland. Principal Drew Schaumber has more than 20 years of experience in development and construction in the Carolinas, Virginia, Maryland and the DC metro area. As a real estate development and consulting firm, we specialize in new construction and rehabilitation of workforce and affordable housing, as well as structured partnership buyouts. To date, Schaumber Development has developed more than 20 new multifamily communities in the Carolinas exceeding 1200 apartment homes and rehabbed more 300 units.
OUR TEAM
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Schaumber Development has changed hundreds of lives by providing quality apartments and partnering with local non-profits to empower residents through education and supportive services.
OUR BACKGROUND & EXPERTISE
Schaumber Development was formed in 2011 as a real estate development and consulting firm specializing in multi-family affordable housing development.
To date, Schaumber Development has developed, rehabbed and/or repositioned more than 17 new multifamily communities in the Carolinas and Virginia totaling more than 1,300 apartment homes. He spearheaded the development of Heritage at Sliding Rock, a 60-unit new construction senior community in Greenville, which was subsequently awarded the Palmetto Housing Achievement Award.
Mr. Schaumber’s expertise includes creative joint venture partnerships with fellow for-profit and non-profit affordable housing developers, asset repositioning, and structured buy outs of limited partnership interests. The latter has enabled numerous affordable housing developers, both Douglas Development and other third-party outfits, to avoid the forced sale provisions embedded in many LIHTC partnership agreements, in turn keeping hundreds of affordable housing units in the tax credit program.
Mr. Schaumber is a member of Westminster Presbyterian Church, the southeast chapter of American Whitewater, and the South Carolina Affordable Housing Coalition. He a frequent invited speaker on the value of public-private partnerships at industry-related events. He lives in Greenville with his wife, Holly, and their two sons.
MISSION
DOING WELL, DOING GOOD
MISSION
DOING WELL, DOING GOOD
We believe whole-heartedly that affordable housing is essential for healthy communities. Along with food, shelter is perhaps the most basic human need. It positively affects childhood development, individual self-esteem, and family viability.
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In 2016, nearly half of renters are considered cost-burdened, meaning they spend more than 30% of their income on rent. The shortage of safe, sanitary affordable housing in America impacts all Americans and is reaching crisis-level in every state.
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A full-time worker earning the federal minimum wage of $7.25 an hour needs to work approximately 122 hours per week for all 52 weeks of the year, or three full time jobs, to afford a two-bedroom rental home at the national average fair market rent.
Neighborhoods, towns and cities cannot thrive without the provision of safe, sanitary and stable housing for all families and seniors. To that end, our mission is the creation of vibrant, high-quality housing that serves the needs of our residents, exceeds the expectations of our partners, provides solid returns for our investors, and enhances the communities in which they are built.
A LEG-UP, NOT A HAND-OUT
We view the housing we build as a stepping-stone to a better life. Whenever possible we seek local partners to provide social services to our residents. By empowering and educating residents about finance, computer skills, job and life skills, residents can move up to better jobs and home ownership. By eliminating the excessive financial burden required to obtain safe, decent housing, our residents can focus on their personal and family enrichment, their education and careers; the end result benefits all residents and the cities they call home.
A LEG-UP, NOT A HAND-OUT
We view the housing we build as a stepping-stone to a better life. Whenever possible we seek local partners to provide social services to our residents. By empowering and educating residents about finance, computer skills, job and life skills, residents can move up to better jobs and home ownership. By eliminating the excessive financial burden required to obtain safe, decent housing, our residents can focus on their personal and family enrichment, their education and careers; the end result benefits all residents and the cities they call home.