Leading affordable housing developer and owner The Woda Group has reorganized to position itself in the industry for generations to come, announced managing directors Jeffrey Woda and David Cooper Jr.
The firm, which was originally founded in 1990 by Woda as Woda Development and Construction, has reorganized as Woda Cooper Cos. and will operate three vertically integrated, affiliated divisions: Woda Cooper Development, Woda Construction, and Woda Management & Real Estate.
In addition, the company has pioneered a new employee ownership opportunity. With the implementation of an employee stock ownership plan—a tax-qualified contribution benefit that vests ownership of a company in its employees—Woda Cooper Cos. employees will be rewarded for their contributions in the company’s ongoing success. The company currently has approximately 550 employees.
“This is a superb opportunity to reward our dedicated colleagues and, at the same time, implement a future succession plan for our organization,” says Cooper. “This change in our organizational structure better positions us to stand the test of time.”
The company’s headquarters also have been relocated from Westerville, Ohio, to a newly remodeled space in the heart of Columbus’ Brewery District.
Woda Cooper Cos. and its subsidiaries have developed, built, or manage more than 300 affordable housing communities with approximately 12,000 units in 15 states across the mid-Atlantic, Midwest, and Southeast regions. In addition to its headquarters, it has offices in Annapolis, Md.; Indianapolis; Mackinaw City, Mich.; Norfolk, Va.; Savannah, Ga.; and Shelbyville, Ky.
