INTERVEST Corp. Property Management

Statement of Services and Ability                                         

Goal: Continued growth through the development and redevelopment of single and multi-family residential properties in keeping with the evolving real estate marketplace is the goal of INTERVEST. Through its management, development and construction companies, INTERVEST has the diversification and flexibility to accommodate all housing services and is well suited to take advantage of opportunities created by today's changing real estate economy.

Recognition for Achievement: In 1998, INTERVEST Development Corp. and J. Steve Nail were awarded HUD’s prestigious John J. Gunther Award for the Neighborhood Transformation of a once troubled property in Birmingham, Alabama.

“Summit Ridge Apartments is a 200-unit Section 8 subsidized housing community. This formerly troubled project suffered from extensive deferred maintenance, drug-related crime and uninhabitable units. After a transfer of physical assets, the new owner/manager invested more than 2.5 million in physical improvements and social service programs, including a new Comprehensive Family Development Center. Some of the many components of the Center are self-assessment and personal development training, job search training, computer classes, and family counseling. It is also recognized as an official job training site by the Department of Resources. Welfare recipients living at the project can fulfill their welfare to work training at the Center. In 1997 the Center assisted 57 persons. Of these, 27 are employed, with 17 of the 27 obtaining employment as a result of their involvement at the Center.”

Andrew Cuomo
Secretary, U.S. Department of HUD

Biography of Principal: A native of Jackson, Mississippi, J. Steve Nail serves as President and Chairman of the Board of INTERVEST. Steve attended public schools in Jackson and graduated from Murray High School. Attending undergraduate school at Mississippi State University and Mississippi College, Mr. Nail received his Juris Doctorate degree from Mississippi College School of Law in 1978.

From 1974 through 1976 Mr. Nail worked as an Inspector for an architectural firm where he gained construction expertise in all aspects of the construction industry. From 1976 through 1978 he worked as a Mortgage Banker, arranging financing for income properties, including HUD-insured multifamily projects. In 1978 Mr. Nail began C-N Co., a real estate development company whose purpose was to develop multifamily subsidized apartment projects insured through the Department of Housing and Urban Development. From 1978 to 1982 Mr. Nail was the Developer, Consultant, Mortgagee and Attorney for over $50 Million of multifamily housing. In 1982 he formed Nail Properties, Inc., which began as a real estate management company, managing HUD-insured multifamily housing projects. In 1987 the name of Nail Properties, Inc. was changed to INTERVEST Corporation.

In 1994 Nail organized and served as the first President of the Housing Association of Mississippi (HAM), representing over 400 properties throughout the State of Mississippi. Mr. Nail is currently the congressional liaison for HAM. Nail serves on the National Housing Impact Committee and is currently serving on the board for the Mississippi Home Builders Multi-Family Housing Council as well as the board for Rural Rental Housing of Texas.