The Michaels Organization has a history of identifying problems and forging ahead with bold solutions. Founded in 1973 by Michael J. Levitt, the company was, from the outset, a “solution-oriented developer,” says Milton Pratt, who serves as Michaels’ executive vice president for development. With a mission towards identifying problems and crafting holistic and integrated solutions, those early days were geared towards engaging with every available resource—particularly the Section 8 program—to respond to a then-burgeoning rental housing crisis.
Primed with industry knowledge, Michaels was able to embrace the Low Income Housing Tax Credit program when it rolled out in 1986, setting the foundation for a future that would see the organization become the largest privately-held owner of affordable housing.
