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 |
21/new |
Related California
Frank Cardone, chief operating officer |
18201 Von Karman Ave., Suite 900
Irvine, CA 92612
(949) 660-7272
www.related.com |
7,162 |
California |
For-profit |
| Related California owns 33 affordable housing developments. The company is active in new construction and acquisition-rehab deals, including mixed-income and mixed-use properties. |
22/new |
Kettler
Cindy Clare, president |
1751 Pinnacle Drive, Suite 700
McLean, VA 22102
(703) 641-9000
www.kettler.com
|
6,493 |
Northeast, Southeast |
For-profit |
| Kettler is a familiar name in the multifamily housing industry, and its diverse portfolio includes 30 affordable housing communities. A goal in 2008 is to increase third-party management activities and provide pre-development services for other multifamily developers. |
23/15 |
The NRP Group, LLC
Alan F. Scott, managing member |
5309 Transportation Blvd.
Garfield Heights, OH 44125
(216) 475-8900
www.nrpgroup.com
|
6,465 |
National |
For-profit |
| The firm is a leader in affordable housing development, with more than 1,765 affordable units started in 2007. It is also active in market-rate housing. |
24/17 |
Lawler Wood Housing, LLC
Brian M. Simmons, vice president |
900 S. Gay St., Suite 1600
Knoxville, TN 37902
(865) 637-7777
www.lawlerwood.com
|
5,676 |
Midwest, Northeast, South Central, Southeast |
For-profit |
| The firm’s focus has been acquiring and rehabilitating Sec. 8 properties with 4 percent LIHTCs and tax-exempt bonds. Lawler Wood owned 37 affordable housing developments at the start of the year. The group is reportedly selling general partner interests in a number of its affordable properties. |
25/18 |
Mid-Peninsula Housing Coalition
Fran Wagstaff, president |
303 Vintage Park Drive, Suite 250
Foster City, CA 94404
(650) 356-2900
www.midpen-housing.org
|
5,625 |
California |
Nonprofit |
| Mid-Peninsula Housing Coalition is a leading nonprofit affordable housing provider in California. Its portfolio includes family, seniors, special-needs, and farmworker housing. Longtime President Fran Wagstaff has announced her retirement this year. |
26/10 |
The Park Cos.
Cliff Bates, director of acquisitions
|
P.O. Box 741
Jackson, MS 39205
(601) 321-7623
www.theparkcompanies.com
|
5,597 |
South Central |
For-profit |
| The company has been involved in the redevelopment of the Gulf Coast following Hurricane Katrina. The Park Cos. owns 51 affordable housing developments. |
27/new |
Affordable Housing Development Corp.
Amber Herzog-Lyman, project manager |
3128 Willow Ave., Suite 101; Clovis, CA 93612
(559) 292-9212
|
5,346 |
California |
For-profit |
| A family-owned company, the firm owns 35 affordable housing developments. It is also involved in market-rate housing. |
28/new |
Eagle Point Cos.
Laura E. Burns, president and CEO |
One City Center, Second Floor; Portland, ME 04101
(207) 780-8050
www.eaglepointco.com
|
5,340 |
Midwest, Northeast, South Central, Southeast |
For-profit |
| Eagle Point Cos. specializes in acquiring and preserving affordable housing projects. It has also started purchasing general partnership interests in LIHTC properties. |
29/13 |
The NuRock Cos.
Robert G. Hoskins, principal |
3460 Preston Ridge Road, Suite 175 Alpharetta, GA 30005
(770) 552-8070
www.nurock.com
|
5,326 |
South Central, Southeast |
For-profit |
| The firm’s core business is affordable housing for seniors and families. NuRock anticipates a busy 2008 and expects to start as many as seven affordable housing developments. |
30/new |
KDF Communities, LLC
Michelle Morgan, acquisitions manager |
660 Newport Center Drive, Suite 930; Newport Beach, CA 92660
(949) 719-1888
www.kdfcommunities.com
|
5,271 |
California |
Nonprofit |
| KDF Communities owns 43 affordable housing developments. The company’s Village at the Crossing development in San Bruno, Calif., earned a Gold Nugget Award for best seniors housing. |
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