About

Newstar Development, LLC (“Newstar”), is a full-service development firm formed in 2020 by the Florida leadership team for Norstar Development USA (“Norstar”), Brian Evjen and Justin Corder. Norstar is also a member of Newstar.

Our development team completed its first affordable housing development in Florida in 2008, and all completed developments in Florida have been in partnership with Public Housing Authorities (PHAs), except for one project with a CRA (Community Redevelopment Agency).

Accordingly, the development team has extensive experience in residential multifamily development as well as partnerships with public housing authorities. Our team has expertise in all areas of financing low-income and public housing properties, knowledge of applications and corresponding approval processes, experience in working with low-income housing tax credits (LIHTC), bond programs, local finance authorities, HOME Funds, FHLB AHP funds, project-based Section 8 contracts, and other Mixed Finance Programs, including HOPE VI, Replacement Housing Factor and HUD capital funds. Our development team is also innovative in utilizing new programs when appropriate.

Norstar is a nationally recognized affordable housing developer and has been ranked for the past five years among the top 50 Affordable Housing Developers in the country by the Affordable Housing Finance magazine; it was the 15th largest in 2013.

Norstar opened its doors in Buffalo, New York in 1992. Since that time, Norstar has developed over 4,900 units with non-profit, public housing authority, and CRA partners. Norstar’s national holdings now include ownership of over 2,500 units in New York, Texas, Florida and Michigan.

Leadership

Brian Evjen – President image

Brian Evjen – President

Brian is responsible for managing all aspects of affordable housing development, including identification of projects, site development, construction, financing, operations, and compliance.

Brian brings more than 15 years of experience in real estate development and finance, and has developed a diverse blend of project types, including market rate and affordable multifamily, mixed use, commercial, education, and food service spaces. He has experience in the development of housing for the elderly, families, and homeless populations.

Brian has successfully redeveloped urban infill sites, developed and rehabilitated multiple units in historic districts, and successfully achieved three LEED Gold and Silver certifications and two NGBS certifications in Florida. In addition, he has been involved in the planning, development, and financing of more than 1,500 market rate and affordable housing units and has secured funding from multiple funding sources including LIHTC, AHP, CDBG, SHIP, HOME, NSP, SAIL, and New Markets Tax Credits.

Brian developed a passion for providing affordable housing and caring for the most needy populations while serving on the leadership team of a Tampa-based non-profit homeless ministry. Working with Newstar’s PHA, CRA, and non-profit partners provides the opportunity to continue embrace this passion by serving our partners’ communities and residents.

Justin Corder – Vice President of Development image

Justin Corder – Vice President of Development

Justin is responsible for affordable housing development, including identification of projects, zoning and entitlements, site development, construction, financing, operation, and compliance.

Prior to joining Newstar, Justin served as Senior Acquisition Manager at Raymond James Tax Credit Funds (RJTCF) in St. Petersburg, FL for more than seven years. RJTCF is one of the leading sponsors for low income housing tax credits nationwide, syndicating more than $9 Billion in equity. Justin negotiated letters of intent for new development partners, modeled operating proformas and development budgets, and managed underwriting requirements for investment partners. Justin’s team was successful in raising $100 Million in equity per year and closing 15-20 projects per year on average.