Local Roots, Growing Reach
With over 6,300 rental units in eight states, ALCO Management, Inc., founded by Frank Jemison, has been making thousands feel at home since 1974. The company is headquartered in Memphis, but retains regional offices to handle timely response to property issues.
ALCO President Robert Hyde originally joined the company as outside legal counsel in 2002. Since taking on his current role, he has guided ALCO through its continuing expansion. As the company pursued growth outside of Tennessee, Hyde was surprised to learn that another Memphis-based organization could help.
“I would have assumed that, as a local bank, Financial Federal doesn’t work out of state,” said Hyde. But when looking to develop their presence in Kentucky, Hyde learned that their local partner had a reach as extensive as their own.
“It’s been nice to work with someone we know and not have to develop a relationship in another state. Financial Federal understands what we do and can move more quickly,” said Jemison.
In addition to property development and management, ALCO has a consulting arm that enables them to work with smaller groups that are faced with opportunities they do not have the internal capacity to develop. Because participation in many housing programs requires previous experience, those partnerships are becoming more important.
ALCO is also focused on partnering with the communities it serves, as shown by its involvement with Agape Child and Family Services, the Neighborhood Christian Center and local agencies such as The Child Advocacy Center, The Boys and Girls Club, and Habitat for Hope. ALCO’s pride in its properties has been recognized by the National Affordable Housing Management Association (NAHMA) with multiple residences designated as Communities of Quality® for excellence in management, maintenance, and personnel.
For more information on ALCO, contact Steve Sutton (ssutton [at] finfedmem [dot] com).