To facilitate the creation and preservation of affordable housing through the construction or rehabilitation of housing for low to moderate-income households.
Turnstone Development Corporation is a not-for-profit 501(c)(3) real estate development corporation specializing in the construction and preservation of affordable housing. Since 1998, Turnstone Development has developed over 1,800 affordable housing units leveraging over $292 million in private and public investment capital sources. These sources include Low Income Housing Tax Credit (LIHTC), equity from the Illinois Housing Development Authority (IHDA), American Reinvestment and Recovery Act Stimulus funds (ARRA), traditional banking and lending institutions’ loans and grants from Federal Home Loan Bank (FHLB) and the Department of Commerce and Economic Development (DCEO).
Mr. Schneider has over 28 years of experience in the public and private sector real estate development industry including construction and project management, financial integration and both operating and capital budgeting experience. Since joining Turnstone Development in 2008, Mr. Schneider has served as the project lead for the development of over 900 units of affordable housing, on time and on budget. He has been a member of the Illinois Economic Development Board, the Illinois Rural Bond Bank and the Federal Home Loan Bank of Chicago Housing Advisory Council and the National Association of Housing and Redevelopment Officials sub-committees. He has worked closely with a variety of municipalities to develop housing and other community buildings including libraries and police stations. Mr. Schneider has a bachelor’s degree in Finance from DePaul University, Chicago, Illinois.
Ms. Weimer is a senior real estate executive with over 25 years of strategic oversight and hands-on management of complex, multi-million dollar, financing, acquisition and divestiture of income-producing retail, office and multi-family properties in the private market as well as government subsidized multi-family housing and property management. Ms. Wiemer is actively involved in the pre and post development phases of Turnstone’s projects including lease-up, asset management, and property management oversight. She sits on the Board of the Alliance to End Homelessness in Suburban Cook County.