Phillips Development Corporation has maintained a high commitment to quality in its developments as well as its relationships with government agencies, lenders, contractors and communities.

History Phillips Development Corporation was founded in 1978 to meet the growing demand for multifamily housing in urban and rural markets. The Housing Tax Credit of 1986 offered PDC another opportunity to build its business, keeping with its mission of translating quality development into quality residences.

Since Chester Phillips' founding in 1978, the company has grown to an office staff of 25 incorporating property management, accounting, and construction. Chester, PDC's Chairman, and Elizabeth S. Small, President, oversee the operations of the company and insure its core values are maintained.

Experience The principals and staff have combined development experience of more than 10,000 units of affordable housing. In addition, staff experience ranges from commercial and multifamily real estate development to property management, construction and engineering. This gives PDC the diversity to grow and the flexibility to counter challenging developments with creativity. The tradition of quality development is as strong today as ever. As the requirements of lenders, governments, markets and residents have changed, PDC has modified its strategies to meet them. Developments under PDC's ownership include family, senior, congregate care, and migrant labor housing, representing more than 1,800 apartments in Arkansas, Kentucky and Missouri. PDC also provides its resources to third-party clients as consultant or developer for projects ranging from traditional multifamily to affordable assisted living.

Values The PDC Companies is a diverse group with a high level of experience and resources committed to total quality throughout project development. The company's ability to design, develop, build and operate guarantees that its ideals can be measured and met. The PDC Companies want every apartment complex to become an integral part of the community where people can prosper. The PDC Companies is experienced in new construction, the rehabilitation of existing complexes and redevelopment projects using:

• Conventional financing


• Federal and state housing tax credits (Low-Income Housing Tax Credit)


• Farmer's Home Administration/USDA Rural Development Funds


• State and local HOME funds


• Tax-exempt securities


• HUD Risk-Share Financing

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Current Developments

	Project: Augusta Square - Rehab Location: Augusta, Arkansas Completion Date: October 2008 »  click here for more
	Project: Mountain View - Rehab Location: Paris, AR Completion Date: 10-01-2008 »  click here for more
	Project: Owensboro Regional Recovery Location: Owensboro , Kentucky Completion Date: 2009 »  click here for more