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, Steve Nail became an Eagle Scout while attending Jackson Public Schools and graduated from Murrah High School. Mr. Nail attended undergraduate school at Mississippi State University and Mississippi College. In 1978 he received a Juris Doctorate degree from Mississippi College School of Law and is a member in good standing of the Mississippi Bar. Today, Mr. Nail is the owner, manager and President of Intervest Corporation and Intervest Construction Corporation.

• 1974 to 1976- Nail worked as an inspector for an architectural firm gaining construction expertise in all aspects of the construction industry.
• 1976 to 1978- Nail worked as a mortgage banker, arranging financing for income properties, including HUD-insured multifamily project.
• 1978- Nail established 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.
• 1978 to 1982- Nail served as developer, consultant, mortgagee and attorney in the development of over $50 million of multifamily housing.
• 1982- Nail 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.
• 1994- Nail organized and served as President of the Housing Association of Mississippi (HAM) representing over 400 Rural Development properties. Mr. Nail currently serves as congressional liaison for the association.
• 1998- Received HUD's prestigious John J. Gunther Award for Neighborhood Transformation of Summit Ridge Apartments in Birmingham, Alabama.
• 1999 to present- Nail has worked diligently to preserve the rights of developers and investors whose Section 8 contracts have been breached.

Nail has served on the National Housing Impact Committee for Fannie Mae and also served on the board for the Mississippi Homebuilders Multi-Family Housing Council. He also serves as an advisory member of the National Housing Advisory Group. Nail is married to Pamela Nail, former Mrs. America and Mrs. World. They have four children: David, Mary Alex, Jack and Nick. The family regularly attends Christ United Methodist church in Jackson, MS.