COVER STORY
The Top 50 Affordable Housing Developers
AFFORDABLE HOUSING FINANCE • MAY 2008
RANK/
(2007
RANK)
|
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
AFFORDABLE DEALS 2007 UNIT STARTS/ COMPLETIONS |
REGION(S) |
ORGANIZATION TYPE |
31/new |
Related California
Frank Cardone, chief operating officer
|
18201 Von Karman Ave., Suite 900
Irvine, CA 92612
(949) 660-7272
www.related.com
|
396/510 |
California |
For-profit |
| Related California started four new affordable developments in 2007, of which three are financed with LIHTCs. The firm also
develops luxury condos and mixed-use projects. |
32/47 |
Conifer Realty, LLC
Andrew I. Crossed, vice president
|
183 East Main St., Suite 600
Rochester, NY 14604
(585) 324-0571
www.coniferllc.com
|
374/212 |
Midwest, Northeast |
For-profit |
| Conifer Realty commenced construction or rehabilitation on nine projects in three states in 2007. The firm plans to maintain a development pipeline of 25 or more projects in its region. |
33/new |
AHC Inc.
Stephen Smith, senior vice president
|
2230 N. Fairfax Drive
Arlington, VA 22201
(703) 486-0626
www.ahcinc.org
|
373/922 |
Northeast, Southeast |
Nonprofit |
| AHC started four LIHTC projects and completed six in 2007. AHC is active in both preservation and new construction. The nonprofit organization also has in-house construction management, resident services, and asset and property management. |
34/39 |
Dunn Development Corp.
Martin Dunn, president
|
151 Seventh Ave., 2nd Floor
Brooklyn, NY 11215
(718) 388-9407
www.dunndev.com |
366/107 |
Northeast |
For-profit |
| The city of New York awarded Dunn Development its dream project—the Navy Green development, which it is doing in collaboration with L&M Equity Participants. It is the redevelopment of a full city block in the Wallabout section of Brooklyn that was a former Navy brig. It’s a mixed-use, mixed-income project. |
35/27 |
AMCAL Multi-Housing, Inc.
Arjun Nagarkatti, executive vice president
|
30141 Agoura Road, Suite 100
Agoura Hills, CA 91301
(818) 706-0694
www.amcalhousing.com
|
364/343 |
California |
For-profit |
| AMCAL Multi-Housing completed five housing developments in 2007, including its first in Northern California and its first in the Central Valley region of the state. In 2008, the firm will expand its for-sale workforce housing department and begin development of market-rate apartments. |
36/new |
Progressive Redevelopment, Inc.
Shelly Patton, vice president of project development
|
321 W. Hill St.; Decatur, GA 30030
(404) 371-1230
www.prihousing.org
|
355/513 |
Southeast |
Nonprofit |
| Progressive Redevelopment develops a wide range of housing, including family, seniors, and special-needs projects. It completed two acquisition-rehab deals and received two LIHTC awards in 2007. |
37/new |
Murphy Development, LLC
Chris Davis, controller
|
6514 Deane Hill Drive; Knoxville, TN 37919
(865) 558-0577
www.murphydevelopment.com
|
320/548 |
Southeast |
For-profit |
| Pennrose Properties completed 10 affordable housing projects and started nine in 2007. About 80 percent of the firm’s business is focused on affordable rental housing. |
38/18 |
The Wallick Cos.
Amy Slebodnik, executive assistant
|
6880 Tussing Road
Reynoldsburg, OH 43068
(614) 863-4640
www.wallickcos.com
|
314/529 |
Midwest, South Central, Southeast |
For-profit |
| The Wallick Cos. started three affordable housing projects and completed four in 2007. The firm hopes to start more than 1,000 affordable units in 2008. |
39/new |
Garrison Development Co.
Garrison Hassenflu, president
|
416 E. Third St.; Kansas City, MO 64106
(816) 474-4775
www.garrisoncompanies.com |
299/257 |
Midwest, South Central, West |
For-profit |
| Garrison Development completed the 450,000-square-foot Cold Storage Lofts, a historic adaptive re-use of a cold storage warehouse in Kansas City. The firm hopes to start six projects in 2008. |
40/4 |
Simpson Housing Solutions, LLC
Michael A. Costa, president
|
320 Golden Shore, Suite 200
Long Beach, CA 90802
(562) 256-2005
www.createchange.us |
441/844 |
National |
For-profit |
| Simpson Housing Solutions completed 15 affordable housing projects and started 10 more in 2006. All were in California. The firm plans to complete 17 projects in 2007. It is moving outside of California to other Western states. |
|
