About Us

The Quad States Companies are located in Ridgeland, MS and were formed to provide to our equity partners solid investment opportunities through the development of affordable residential communities that are well constructed, livable, safe, attractive, and that enhance the communities they are located in.

To accomplish this, multiple companies were created to address the various stages necessary in the development of affordable housing: These stages include: real estate acquisition; development planning and design; project construction; and property management.

The companies that comprise Quad States and the areas they operate in are:

Real estate acquisition and sales: Quad States Land Company, LLC Lancaster Real Estate, Inc.

Planning and design: Quad States Development, LLC Arrington Developers, LLC

Property construction: Quad States Construction, LLC

Property Management: Quad States Management, LLC
Company Structure
Each entity under the Quad States umbrella functions as a fully autonomous, self-sufficient business that operates within its above mentioned area. This multi-company organizational structure maximizes the proven abilities of the Companies’ managers by focusing their talents in the areas of their expertise. It also maintains separate operations for accounting, financial reporting, and tax matters.

Conversely, each business comprises but one component of an overall team necessary to efficiently and successfully plan and manage the Companies’ properties to profitability. The businesses are layered, in effect, one on top of the other in order of the developmental stages in which they operate. This creates a single cohesive unit that provides for seamless integrations through each stage of development and allows for the formulation of inter-company strategies and simultaneous implementations.

In addition, this structure of layered individual businesses affords Quad States the flexibility needed to take advantage of opportunities (or to retreat from downturns) unique to certain market conditions within the affordable housing industry, the housing market in general, and/or the overall economy. This allows the Companies to react quickly to shifting market dynamics through its ability to redirect focus, talent, resources and assets from one business to another in order to improve cash flow and maximize profit potential.

Under the leadership and expertise of its principals Quad States has established itself as major participant in the affordable housing industry. Dale Lancaster and Kris Ainsworth (Construction Manager and a principal in Quad States Construction) have over 35 years experience in affordable housing development, management and construction. Dale Lancaster has acted as developer on over 35 tax credit properties and numerous conventional ones, while Kris Ainsworth has supervised the predevelopment and construction of affordable housing projects containing over 1,000 units.

Operationally, in order to successfully compete in the marketplace, the Companies capitalize on what its principals consider to be four key strengths: proven capabilities in planning, financing, execution, and follow-through; design integrity; efficient, quality construction; and reliable management.

Services Offered

Quad States’ proven capabilities are evidenced by its ongoing success in implementing the following: identifying land that is strategically located and negotiating its purchase at a workable price; designing quality affordable housing and assembling application packages using proformas that are based on realistic, achievable expectations that successfully secure allocations for tax credit developments and/or traditional financing for market rate developments; selling tax credits for equity participation and securing permanent project financing; providing well managed, quality construction on schedule and on budget; and managing properties to ensure that they are in compliance, in good condition, and maintain positive cash flow.

The design of the Companies’ properties emphasizes a site driven methodology to ensure community and ecological sensitivity through environmentally responsible site selection, building design, material sourcing and construction. Architecturally, function is designed and built-in as a component of aesthetics with specific demographics interpreted through incorporation of local architectural styles. Sustainability is achieved by understanding community environments, through design concepts influenced by that understanding, and by the utilization of quality materials within the confines of affordable housing construction budgets.

Quality construction is achieved through, first and foremost, the preparation and utilization of well prepared preconstruction budgets and schedules that when implemented are efficient, economical and achievable; second, emphasis is placed on material sourcing to ensure quality materials purchased at economical prices that are durable and environmentally friendly; third, through the utilization of subcontractors with proven track records of quality workmanship, budget management, and competitive pricing consistency.

In order to remain efficient while building simultaneous properties in multiple locals, the Companies utilize a construction methodology that relies on one hundred percent subcontracted construction overseen by the Companies’ experienced supervisors.

For properties that are placed in rental programs and require long term management (such as those properties developed using tax credits), including third party projects, Quad States offers reliable management capabilities that are compliance driven but that also take into consideration the importance of realistic budgets that provide the cash flow requirements necessary to sustain the property. Maximum profitability is accomplished through vendor sourcing which ensures the best price for service, preventive maintenance, and tenant management. In addition, Quad Sates Management’s master insurance policy allows us to further control one of the major expenses associated with property management.

Significant numbers for The Quad States Companies are:

Properties developed: 28

Units under management: 1,031

Tax credits awarded: $87,759,920.00

Development costs: $122,216,116.00