COVER STORY
The Top 50 Affordable Housing Owners
AFFORDABLE HOUSING FINANCE • MAY 2008
RANK/
2007 RANK |
COMPANY/CONTACT |
ADDRESS/PHONE/WEB |
AFFORDABLE UNITS OWNED (AS OF 1/1/08) |
REGION(S) |
ORGANIZATION TYPE |
11/new |
Corcoran Jennison Cos.
Suzanne Corcoran, director of marketing |
150 Mount Vernon St., Suite 500; Dorchester, MA 02125
(703) 549-5115
www.corcoranjennison.com |
9,500 |
Northeast, South Central, Southeast |
For-profit |
| >>Corcoran, Mullins, Jennison, Inc., and Corcoran Jennison Cos. have developed more than $2 billion worth of properties, including residential communities, health facilities, hotels, and other developments. The firm owns 80 affordable housing developments. |
12/8 |
Dominium Development & Acquisition, LLC
Paul Sween & Armand Brachman, principals |
2355 Polaris Lane, North Suite 100
Plymouth, MN 55447
(763) 354-5500
www.dominiumapartments.com
|
9,440 |
Midwest, South Central, Southeast, West |
For-profit |
| The company develops new low-income housing tax credit (LIHTC) projects as well as being active in the preservation of Sec. 8 properties and the resyndication of LIHTCs. |
13/new |
Bridge Housing
Carol Galante, president and CEO
|
345 Spear St., Suite 700; San Francisco, CA 94105
(415) 989-1111
www.bridgehousing.com
|
9,404 |
California |
Nonprofit |
| BRIDGE Housing celebrates its 25th anniversary this year. The nonprofit organization has built a variety of projects, including large mixed-income and mixed-use urban infill developments. |
14/new |
USA Properties Fund, Inc.
Geoffrey Brown, president
|
2440 Professional Drive; Roseville, CA 95661
(916) 773-6060
www.usapropfund.com
|
9,252 |
West |
For-profit |
| USA Properties Fund completed two affordable housing developments with nearly 300 units in 2007. The firm’s focus is family and seniors housing. |
15/9 |
National Community Renaissance
Rebecca F. Clark, president
|
9065 Haven Ave., Suite 100
Rancho Cucamonga, CA 91730
(909) 483-2444
www.nationalcore.org |
8,754 |
National |
Nonprofit |
| More than 78 percent of National Community Renaissance’s portfolio is reserved for low-income households earning less than 60 percent of the area median income. It owns 71 affordable housing developments. |
16/12 |
Conifer Realty, LLC
Andrew I. Crossed, vice president
|
183 E. Main St., Suite 600
Rochester, NY 14604
(585) 324-0571
www.coniferllc.com
|
7,904 |
Midwest, Northeast |
For-profit |
| Conifer is a full-service real estate company that develops, constructs, owns, and manages its apartment communities. The firm owns 120 affordable housing developments. |
17/new |
Beacon Communicities
Howard Cohen, chief operating officer |
150 Federal St., Fifth Floor; Boston, MA 02110
(617) 574-1141
www.beaconcommunitiesllc.com
|
7,600 |
Northeast |
For-profit |
| Beacon Communities develops urban infill and mixed-income projects. It is also involved in market-rate housing. |
18/14 |
Carlisle Development Group
Matthew Greer, CEO |
2950 S.W. 27th Ave., Suite 200
Miami, FL 33133
(305) 476-8118
www.carlisledevelopmentgroup.com
|
7,532 |
Florida |
For-profit |
| The company is involved in all types of affordable housing, including seniors, family, workforce, farmworker, and supportive housing. |
19/7 |
Pennrose Properties, LLC
Mark H. Dambly, president |
1301 N. 31st St.
Philadelphia, PA 19121
(267) 386-8666
www.pennrose.com
|
7,440 |
Northeast, Southeast |
For-profit |
| Pennrose Properties is a developer of mixed-use, mixed-income, and multifamily properties. About 80 percent of its business is focused on affordable housing. A goal for 2008 is to increase the size of its projects. |
20/new |
The Community Builders, Inc.
Patrick E. Clancy, president and CEO |
95 Berkeley St., Suite 500; Boston, MA 02116
(617) 695-9595
www.tcbinc.org
|
7,407 |
Midwest, Northeast, Southeast |
Nonprofit |
| The nonprofit organization is involved in the building of large-scale, mixed-income urban developments. It owns more than 100 affordable housing properties. |
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