Housing Preservation Inc.

About Us

Company Profile

Silver Tree Residential, LLC (STR) was formed under the vision of James Carmichael as the sole means to achieve the quality standards he strives for in each of his senior and family housing communities. STR manages the communities owned by Mr. Carmichael's as well as those communities owned by Housing Preservation, Inc. Capitalizing on a network of hundreds of employees across all our communities, we provide exceptional property management service for our residents in thousands of affordable elderly/senior, and family apartment homes, all across the country.

To provide the highest level of service, we are headquartered in Memphis, TN, centrally located to many of our communities. We manage both elderly/senior and family mid-rise, and high-rise buildings designated with Project Based Section 8 Rental Assistance. Our management team is well experienced in handling the complexities of the ever-changing arena of HUD compliance and regulations.

Our mission is to provide the best quality housing possible to our residents with clean, quiet, and safe communities. Our exhaustive resident screening process is important to making each property successful, by aiming to improve the quality of our residents' living environment. Furthermore, we have been successful in achieving high REAC and MOR scores in all of our communities. It is through this firm commitment to excellence, that we at STR demonstrate a resounding record of success in our mission to preserve affordable housing into the future.


Management Team

  • James Carmichael

    James has been acquiring, rehabilitating and managing multifamily real estate as an owner since 2000. Mr. Carmichael is currently active in owning and managing multifamily properties in nearly a dozen states throughout the United States. Mr. Carmichael’s main focus is that of elderly/senior housing and he has acquired many different types of affordable properties including; Section 202, Section 236, Project Based Section 8 projects, Low Income Housing Tax Credits (LIHTC), apartments with failing REAC inspections, M2M Lite and Fully Restructured projects and troubled HUD projects with management turnarounds. 

    Mr. Carmichael is a hands-on operator understanding all aspects of the operation. He continually strives to create safe, affordable and attractive communities for his residents to live. This hands-on style of management has allowed Mr. Carmichael to calculate the ongoing needs of each project but also understanding that each project has a different set of needs. Over the years Mr. Carmichael has developed relationships with many the local HUD Field offices, HUD HQ, OAHP, highly respected attorneys, lenders and property management companies through the country. From this acquisitions and operations, he has become heavily networked, highly experienced and deeply driven to achieving his goals.

  • Keith Acton


    Mr. Acton serves as STR’s President of Property Management with over 15 years of property management experience in both conventional and affordable housing firms. In his role, Mr. Acton oversees the company’s daily operations and compliance. Additionally, he directly oversees properties located in STR southern region. Mr. Acton is a Certified Property Manager and has overseen various professional real estate property management organizations. Mr. Acton has managed many affordable housing communities with multiple layers of compliance ranging from Section 236, Project-Based Section 8, Hope VI, and Tax Credits.

  • Steve Curvino


    Mr. Curvino serves as STR’s Controller and is responsible for all financial, accounting, and budgeting aspects for STR. Mr. Curvino has more than 26 years of experience within the accounting industry, including the last five years with property management firms. Mr. Curvino became a Certified Public Accountant early in his career and worked for a large public accountant firm. At a another property management company, Mr. Curvino was successful in streamlining the accounting processes, improving the overall accuracy and timing of reporting, providing impeccable and thorough documentation for annual property audits, as well as improving the overall effectiveness and performance of the accounting operation.

  • Jim Harlow

    Senior Accountant

    Mr. Harlow serves as STR’s Senior Accountant and is responsible for assisting the Controller with all financial, accounting, and budgeting aspects for STR. Mr. Harlow has more than 4 years of experience within the accounting industry, including 3 years of public accounting experience. Mr. Harlow has a strong background in financial reporting.

  • Marty Boden

    Vice President

    Mr. Boden serves as STR’s Vice-President with over 25 years of property management experience and more specifically with STR since its inception. In his role, Mr. Boden oversees properties in STR’s northern region. Additionally, he assists with compliance and monitoring for STR’s communities. Mr. Boden has been instrumental in working with the communities to obtain many successful REAC scores including a recent 99a.

  • Dawn Vance

    Vice President

    Ms. Vance currently serves as STR’s Vice-President with over 20 years of property management experience and more specifically in affordable housing. Ms. Vance is a Certified Occupancy and Management Occupancy Review Specialist. She also holds an Accredited Residential Manager (ARM) certification with the Institute of Real Estate Management, and has a tax credit certification. She currently oversees 7 properties in STR’s eastern region.

  • David Vondenberger

    Regional Vice President

    David serves as one of STR’s Vice-Presidents, overseeing communities in STR’s southern region. David brings nearly a decade of affordable housing experience to our team. Prior to joinging STR, he served as a Regional Manager and Managing Director at a large affordable housing Management Company, as well as the Board of Directors of the Southeastern Affordable Housing Management Association. Mr. Vondenberger has managed a range of affordable housing communities, serving both for-profit and not-for-profit organizations. He maintains a real estate broker’s license, holds advanced degrees in business and has been formally recognized for his involvement in the Affordable Housing Industry.

  • Alicia M. Downen

    Director of Corporate Development & Training

    Alicia serves as STR’s new Director of Corporate Development & Training.  She graduated from Mississippi State University with a degree in Marketing and a substantial track record of interviewing, negotiating, administration, screening and closing candidates for business development. She has a strong history of completing performance assessments, providing constructive feedback and conflict resolution as an account manager for Nursing Innovations. She is a core component of our Human Resources Department, leading continued training and development programs for site employees.

  • Philip Bach


    Philip started his career as a Loan Processing Clerk for First Tennessee Bank before taking an Accounting position at CB Richard Ellis. Within a few years, Philip had worked his way up to Senior Accountant at the firm, analyzing and advising on organizations’ financial status. As a member of the STR team, Philip manages weekly Accounts Payable, and assists in Financial Reporting of monthly statements for the entire property portfolio.

  • Doug Gilland

    Director of Acquisitions

    Doug Gilland joined Silver Tree Residential (STR) in 2010. As a Partner and Director of Acquisitions, his primary focus is to source and acquire HUD multifamily Section 8 properties. Since joining the company, Doug has helped STR’s portfolio has grown by an average of 1,000 units per year, and ensured the company maintains a healthy acquisitions pipeline. Mr. Gilland brings his expertise in the areas of acquisition, finance, management, and construction/renovation of affordable and market rate housing. He has extensive experience with the use of conventional financing, Low Income Housing Tax Credits, HUD project-based rental programs, and other multi-layered financing structures.

    Doug began his real estate career in 2000. Since that time he has successfully completed the acquisition of over 50 multifamily assets, with a total value of $400m+. Prior to joining STR, Doug served as the Development Director and a Corporate Officer of Housing Systems, Inc. - a private Atlanta-based owner/operator of multifamily apartments. He spent another 2 years at Affordable American Properties, a private new-construction development company that focused on the development of Low Income Housing Tax Credit Properties. In addition to his responsibilities at STR, Doug oversees the property acquisitions for Housing Preservation, Inc., a non-profit organization dedicated to the preservation of affordable multifamily properties.

    Doug received his Bachelors of Business Administration in Real Estate and Finance from the University of Memphis Fogelman College of Business and Economics. He is married with 4 young children.