COVER STORY
The Top 50 Affordable Housing Developers
AFFORDABLE HOUSING FINANCE • MAY 2007
| RANK |
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
TAX CREDIT & TAX EXEMPT BOND DEALS 2006 UNIT STARTS/ UNIT COMPLETIONS |
REGION(S) |
ORGANIZATION TYPE |
11 |
McCormack Baron Salazar, Inc.
Kevin J. McCormack, president
|
1415 Olive St., Suite 310
St. Louis, MO 63103
(314) 621-3400
www.mccormackbaron.com |
594/990 |
National |
For-profit |
| McCormack Baron Salazar specializes in rebuilding urban neighborhoods. In 2006, the firm started construction in Memphis on the first phase of a 900-unit mixed-income project surrounding the downtown medical complex. The project has received HOPE VI funding and is being developed in partnership with the local housing authority and the city. In 2007, the firm plans to be active in HOPE VI developments in Pittsburgh, Phoenix, and St. Louis. |
12 |
Dominium Development & Acquisition, LLC
Paul Sween and Armand Brachman, principals
|
2355 Polaris Lane, North Suite 100
Plymouth, MN 55447
(763) 354-5500
www.dominiumapartments.com
|
586/425 |
Midwest, South Central, Southeast, West |
For-profit |
| Dominium Development & Acquisition has been involved in a wide variety of apartment products. Its focus includes Sec. 8 preservation and new construction projects using housing tax credits. After starting eight projects with close to 600 units in 2006, the firm plans to start 14 developments with nearly 1,500 units in 2007. |
13 |
The Community Builders, Inc.
Patrick E. Clancy, president & CEO
|
95 Berkeley St., Suite 500
Boston, MA 02116
(617) 695-9595
www.tcbinc.org
|
582/715 |
Midwest, Northeast, Southeast |
Nonprofit |
| This longtime nonprofit is a leader in comprehensive neighborhood revitalization. The Community Builders started seven projects and completed 11 in 2006. It plans to start another nine projects with more than 600 units in 2007. |
14 |
The Phipps Houses Group
Bettina Lee, communications associate
|
902 Broadway, 13th Floor
New York, NY 10010
(212) 243-9090
www.phippsny.org |
536/446 |
New York City |
Nonprofit |
| The Phipps Houses Group develops and operates affordable housing in New York City. After starting eight developments with more than 500 affordable units in 2006, the group is ramping up to do even more. It has about 2,000 units in its pipeline. |
15 |
The Hampstead Cos.
Greg Gossard, principal
|
4250 Louisiana St.
San Diego, CA 92104
(619) 543-4204
www.hampstead.com
|
535/477 |
National |
For-profit |
| A specialist in the preservation of existing subsidized housing and loan restructuring, The Hampstead Cos. started four tax credit or bond developments with more than 500 units in 2006. |
16 |
The Woda Group, LLC
David Cooper Jr., principal and general counsel
|
Huber Village Blvd., Suite 100
Westerville, OH 43081
(614) 396-3200
www.wodagroup.com
|
516/516 |
Midwest, West, Northeast, Southeast |
For-profit |
| The Woda Group started 11 affordable housing developments in 2006 and plans to start even more in 2007. The firm is active in multifamily, seniors, and single-family housing development in rural areas. |
17 |
National Community Renaissance
Rebecca F. Clark, president
|
9065 Haven Ave., Suite 100
Rancho Cucamonga, CA 91730
(909) 483-2444
www.nationalcore.org
|
498/301 |
National |
Nonprofit |
| People may not recognize the name National Community Renaissance. It is a new organization that was formed by the recent merger of SoCal Housing and the National Housing Development Corp. Known as National CORE, the group owns about 8,500 affordable housing units and plans to complete an additional 1,200 units in the near future. |
18 |
The Wallick Cos.
Thomas A. Feusse, CEO
|
6880 Tussing Road
Reynoldsburg, OH 43068
(614) 552-5605
www.wallickcos.com
|
483/45 |
Midwest, South Central, Southeast |
For-profit |
| The Wallick Cos. started 483 units of affordable housing in 2006 and plans to do even more in 2007. The firm expects to start six housing tax credit or tax-exempt bond deals with about 689 units this year. |
19 |
Gorman & Co., Inc.
Tom Capp, chief operating officer
|
1244 S. Park St.
Madison, WI 53715
(608) 444-6846
www.gormanusa.com |
480/377 |
Midwest |
For-profit |
| Founded in 1984, Gorman & Co. has expertise in urban infill housing. The firm’s work includes historic adaptive reuse and acquisition-rehabilitation projects. The company is looking to expand outside of the Midwest. |
20 |
Chelsea Investment Corp.
Lynn Schmid, marketing coordinator
|
35993 Avenida Encinas, Suite 101
Carlsbad, CA 92008
(760) 456-6000
www.chelseainvestco.com
|
478/312 |
West |
For-profit |
| Chelsea Investment Corp. had a busy 2006 when it started four new affordable housing developments and completed two others. It plans to do even more in 2007 by starting as many as 11 developments. |
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