On March 15, 2006, Elevation was born with a desire to confront the increasing demand across the United States for safe, clean and affordable senior and multifamily housing. Founded by brothers Chris and Michael King, the Central Florida company was launched as a multiple bottom line business, a business committed to delivering superior financial returns to its shareholders while making a positive and measurable impact in the communities that it served.
Company leaders have long understood that the United States is confronted with an increasing demand for affordable senior and multifamily housing. This is due in part to the aging of America, the diminishing supply of affordable units from expiring subsidies, physical deterioration, and an increase in the costs of operation. By understanding the stresses and complexities impacting a wide array of affordable housing programs and by developing strong local, state and regional relationships with housing agencies, public housing authorities and the Department of Housing and Urban Development, Elevation has become a leader in acquiring, managing and revitalizing these historic senior and multifamily communities.
Elevation has sought to integrate its expertise in finance, property management, property renovation and community revitalization to cast new and dynamic visions for senior and multi-family communities. Elevation has developed a portfolio of award-winning properties throughout the Southeast—most operating under the Serenity Towers® brand or the Serenity Apartments® brand—that have overcome substantial challenges to become financially profitable, elegant and distinctive in their delivery of quality and service.
Elevation has revitalized thousands of affordable apartment homes in Florida, Tennessee, South Carolina, North Carolina and Alabama.
Elevation has rescued historic senior towers from HUD defaults and failing government inspections.
Elevation has extended affordable use agreements on senior apartments by decades.
Elevation has successfully converted properties into affordable age-restricted senior housing.
Elevation has invested tens of millions of dollars into property renovation and preservation of affordable communities.
Elevation has received two awards for excellence in the preservation and revitalization of senior housing from the Department of Housing & Urban Development and been profiled on the website of HUD for its preservation work.
Elevation has raised tens of millions of dollars for housing investment without paying loads or capital raising fees.
Elevation has founded its own public charity and is active in addressing educational opportunity and college access for Title 1 students through The Elevation Scholars Program, a partnership of The Elevation Foundation, Orange County Public Schools and the University of Central Florida.
Elevation has promoted international entrepreneurship and development through the Elevation Global Initiative and has been involved in social entrepreneurship in Haiti and Africa including efforts in tree reforestation, fish farming, for profit schools and entrepreneurial training programs.
The Next Ten Years
In the next ten years, Elevation will strive to be a best-in-class real estate investment firm that continues to build on its track record of delivering superior financial returns while successfully revitalizing affordable housing communities throughout the United States.
At the same time, Elevation is committed to being a force for activist philanthropy, bringing the same standard of excellence to giving that it does to creating value for its shareholders.
Through its business, philanthropic and public advocacy, Elevation aspires to be a champion for entrepreneurship, affordable housing and educational opportunity for low-income and first-generation students.