After discussing Low-Income Housing Tax Credits (LIHTC) with a colleague, Chuck Smith and his son Scott applied for an allocation of tax credits. That same year, in 1989, they completed a 25-page application; 45 days later, Scott and Chuck received notice that they were granted tax credits and would be able to move forward with their first project. Between 1989 and 1996, their partnership developed over 7,000 units under the company name Universal Developers.
In 1996, two major events occurred. First, Chuck’s brother, Mike L. Smith, joined Universal Developers to develop larger projects using both LIHTC’s and Tax Exempt Bonds, which added a market rate component to all new developments. Second, Chuck’s other son, Mike B. Smith, joined Scott in forming Signature Management to manage the communities being developed by Universal Developers.
By 1998, Signature Management was managing 17 of the properties developed by Universal Developers in both Georgia and South Carolina. Realizing that Chuck and Mike L. were reaching retirement stage, Mike B. and Scott decided to open Signature Management’s doors to other apartment owners to provide both compliance and management services. Over the years, the company grew to include 40-plus apartment communities across multiple states.
Today, Signature Management is recognized as one of the very best management companies in the affordable housing arena. Mike and Scott have established a reputation for being problem solvers, and have reshaped the business model by bringing a class A conventional management style to low income housing.
- Signature Management was founded in 1996 and has developed and managed Conventional Class A, B, C and Tax Credit communities.
- Signature Management is a privately held, diversified real estate company with expertise in managing, financing, and developing multi-family communities.
- Signature Management has managed over 40 communities in AL, TN, NC, FL, SC, and MS. Our professional team welcomes the opportunity to improve the value of your assets.
- We pride ourselves in being one of few companies that can boast 100% excellence on all Tax Credit audit scores since our inception in 1996.