March 2026 | Issue #54

All the latest news from The Michaels Organization.

Latest Developments

Michaels Joins Mayor of Englewood Cliffs and State Officials to Celebrate Grand Opening of The Cliffs on Hudson

Michaels recently joined Mayor Mark Park and officials from the Borough of Englewood Cliffs, NJ to celebrate the grand opening of The Cliffs on Hudson, a new housing community offering affordable living to families with low and moderate incomes. The 66-unit community has attracted overwhelming interest in the neighborhood and is already at full occupancy with a waiting list. Read more here.

The Michaels Organization Expands Student Housing Portfolio with Acquisition of Villas on Rensch

Michaels has completed the acquisition of Villas on Rensch, an off-campus student housing community located within walking distance of the University at Buffalo, SUNY. The acquisition was done in joint venture partnership with GRJ LLC, and, Capital Solutions. Serving the SUNY student housing population since 2012, Villas on Rensch comprises 608 beds across 152 four-bedroom, four-bathroom apartments in 36 cottage-style buildings with a range of community amenities. This transaction marks the fifth acquisition Michaels has done in partnership with Capital Solutions Inc., and Michaels’ first joint venture with GRJ LLC. Read more here.

The Michaels Organization Selected by The Episcopal Diocese of Pennsylvania for Strategic Partnership

Michaels is proud to announce that the Episcopal Diocese of Pennsylvania has selected our organization as its strategic partner for its Transformation Initiative. This collaboration marks a milestone in the Diocese’s effort to evaluate and repurpose underutilized church properties for their "highest and best use," including the development of mixed-use, market-rate, workforce, and active adult housing, along with other uses. Read more here.

Albert S. Dandridge, III, serves as Chairman of the Transformation Initiative for the Episcopal Diocese of Pennsylvania

Michaels and Temerity Strategic Partners Form Programmatic Partnership Focused on Purpose-Built Student Housing

The Michaels Organization and Temerity Strategic Partners have announced the formation of a programmatic Co-GC partnership focused on purpose-built student housing across the country. The partnership is designed to invest in student housing assets located near leading Power 4 and Research 1 universities, where enrollment growth, limited new supply, and durable demand dynamics support long-term performance. The partnership will pursue both acquisition and development opportunities in markets aligned with Michaels’ longstanding university relationships and vertically integrated operating platform. Read more here.

Michaels and SNRHA Name Two New Affordable Housing Communities to Honor Local Housing and Civil Rights Champions

Michaels, in partnership with the Southern Nevada Regional Housing Authority, has announced the names of two new affordable housing communities coming to Las Vegas, in honor of local housing and Civil Rights champions. Beals-Henderson Pointe and Gholson Landing--named for community leaders Alversa Beals, Essie Henderson, and Thomas Gholson of the Las Vegas Housing Authority-- are currently under construction and will deliver 201 new affordable apartment homes upon completion later this year. Read more here.

Beals-Henderson Pointe Rendering

HUB 32 Development Approved for TIF Funding

The Community Development Commission of Chicago has approved $13.86 million in tax-increment financing (TIF) and a land sale for HUB 32, a mixed-use affordable housing development by Michaels in partnership with KMW Communities and TruDelta. The development will occupy a currently vacant city-owned parcel adjacent to the Kedzie Green Line stop and will offer 51 affordable units serving households with incomes ranging from 30% to 80% AMI with ground-floor retail.

The Minute Clip

San Diego Community College District Sneak Peek

Michaels' recent "Sneak Peek" event with the San Diego Community College District (SDCCD) celebrated the start of construction on the district’s first-ever affordable student housing community at San Diego City College. Featuring immersive virtual reality (VR) walk-throughs, the event gave students, faculty, and staff an early look at the transformational new development. Check out the highlights below and read more here.

Doing Well By Doing the Extraordinary

The Michaels Organization Educational Foundation Opens Program for 2026

The Michaels Organization Educational Foundation, a privately funded, nonprofit affiliate of The Michaels Organization, is now accepting scholarship applications for the 2026/2027 academic year. Residents of Michaels-owned and managed Affordable and Military housing communities who have a high school diploma or equivalent and plan to pursue higher education at a university, college, or trade/professional school are encouraged to apply. Applications can be found online at michaelsscholars.com and will remain open until April 15th. Read more here.

Going Out A Little Further

Michaels Announces Leadership Team Transition

Executive Vice President of Operations Gen Bauer has officially assumed leadership of Michaels Management as part of a planned succession for Kimberlee Schreiber, who has served as President of Michaels Management for more than a decade. Kimberlee will transition to a new role focusing on business development, beginning March 1st, with plans to retire within the next year. Read more here.

Left: Gen Bauer; Right: Kimberlee Schreiber

Michaels’ CFO Joe Purcell to be Honored with 2026 Spotlight Award from Catholic Partnerships

The Michaels Organization is proud to announce that the Catholic Partnership Schools (CPS), a nonprofit organization, will honor our Chief Financial Officer, Joe Purcell, with its 2026 Spotlight Award at its annual awards ceremony in May. Purcell currently serves on the Board of CPS, a network of five Catholic schools committed to sustaining safe and nurturing Pre-K-8 education for the children of Camden, NJ, and preparing each of its students for rigorous college preparatory or technical high school. Read more here.

Walking the Job

Michaels’ New White Paper Addresses the Housing Challenges Impacting the Nation’s Healthcare Systems

Michaels has released its latest White Paper, examining how innovative partnerships can help alleviate the lack of affordable workforce housing impacting healthcare systems across the country. The white paper is available for download from Becker’s Healthcare, a leading media platform for healthcare decision-makers. Read more here.

Join Michaels at these Upcoming Events

Michaels teammates will be attending and speaking at a variety of upcoming events! Please contact info@tmo.com to learn more or to connect, and stay up-to-date with all upcoming events here.