|
TOP 50 AFFORDABLE HOUSING DEVELOPERS OF 2009
|
|||||||||
|
RANK (2008)
|
COMPANY INFO
|
EXECUTIVE CONTACT
|
STARTS / COMPLETIONS
|
REGION(S)
|
ORG TYPE
|
||||
|
1
|
THE MICHAELS ORGANIZATION
|
Robert J. Greer,
|
1699
|
National
|
For-profit
|
||||
|
3 E. Stow Road; P.O. Box 994; Marlton, NJ 08053
|
president
|
1699
|
|||||||
|
(2)
|
The Michaels Organization, which is active in developing Hope VI projects, tops the list of developers with nearly 1,700 affordable housing units started in 2009.
|
||||||||
|
2
|
THE NRP GROUP, LLC
|
Alan F. Scott, J. David
|
1411
|
National
|
For-profit
|
||||
|
5309 Transportation Blvd.; Cleveland, OH 44125
|
Heller, and T. Richard Bailey,
principals
|
1437
|
|||||||
|
(1)
|
The NRP Group started 11 affordable projects and completed 16 last year. The firm also develops market-rate housing.
|
||||||||
|
3
|
PENNROSE PROPERTIES, LLC
|
Mark H. Dambly,
|
692
|
MW, NE, SE
|
For-profit
|
||||
|
1301 N. 31st St.; Philadelphia, PA 19121
|
president
|
630
|
|||||||
|
(7)
|
Pennrose had a big 2009, starting 12 projects and completing 10. It plans to start 16 low-income housing tax credit (LIHTC) developments with 1,060 units this year.
|
||||||||
|
4
|
THE PHIPPS HOUSES GROUP
|
Adam Weinstein,
|
642
|
New York City
|
Non-profit
|
||||
|
902 Broadway; New York, NY 10010
|
president and CEO
|
128
|
|||||||
|
(12)
|
The nonprofit is continuing to develop its pipeline with both new construction and preservation deals.
|
||||||||
|
5
|
RELATED CALIFORNIA
|
Frank Cardone,
|
621
|
California
|
For-profit
|
||||
|
18201 Von Karman Ave., Suite 900; Irvine, CA 92612
|
COO
|
46
|
|||||||
|
(new)
|
Related closed on five project financings last year and hopes to obtain tax credits for another four this year.
|
||||||||
|
6
|
L+M DEVELOPMENT PARTNERS, Inc.
|
Ronald Moelis,
|
604
|
NE, SC
|
For-profit
|
||||
|
1865 Palmer Ave., Suite 203; Larchmont, NY 10538
|
CEO and chairman
|
529
|
|||||||
|
(22)
|
Specializing in affordable and mixed-income housing, L+M started six projects and completed four in 2009.
|
||||||||
|
7
|
SAN ANTONIO HOUSING AUTHORITY
|
Monica Quiroga,
|
583
|
San Antonio
|
Public housing agency
|
||||
|
818 S. Flores; San Antonio, TX 78204
|
intergovernmental affairs liason
|
624
|
|||||||
|
(13)
|
The housing authority invested $66.5 million in three new housing developments last year.
|
||||||||
|
8
|
WASATCH ADVANTAGE GROUP
|
Kipling S. Sheppard,
|
540
|
W
|
For-profit
|
||||
|
26440 La Alameda, Suite 370; Mission Viejo, CA 92691
|
president and CEO
|
640
|
|||||||
|
(new)
|
In 2009, Wasatch secured Tax Credit Assistance Program (TCAP) funds to develop two new projects.
|
||||||||
|
9
|
ST. ANTON PARTNERS, LLC
|
Peter Geremia and
|
533
|
W
|
For-profit
|
||||
|
1801 I St., Suite 200; Sacramento, CA 95811
|
Steven L. Eggert,
managing members
|
604
|
|||||||
|
(8)
|
The company started three LIHTC projects and completed four last year.
|
||||||||
|
10
|
STRATFORD CAPITAL GROUP
|
Richard Hayden,
|
494
|
National
|
For-profit
|
||||
|
100 Corporate Place, Suite 404; Peabody, MA 01960
|
executive vice president
|
63
|
|||||||
|
(new)
|
Stratford started four new projects and closed about $70 million in LIHTC equity in 2009.
|
||||||||
|
11
|
JONATHAN ROSE COS.
|
Paul Freitag,
|
481
|
National
|
For-profit
|
||||
|
551 Fifth Ave., 23rd Floor; New York, NY 10176
|
director of development
|
50
|
|||||||
|
(25)
|
All the units closed by the firm in 2009 are targeted for green design certification.
|
||||||||
|
12
|
THE WODA GROUP, LLC
|
Jeffrey Woda and
|
452
|
MW, NE, SE
|
For-profit
|
||||
|
229 Huber Village Blvd., Suite 100; Westerville, OH 43081
|
David Cooper, principals
|
517
|
|||||||
|
(20)
|
The Woda Group started 11 LIHTC projects last year. Its portfolio also ended 2009 with more than 96 percent occupancy.
|
||||||||
|
13
|
CONIFER REALTY, LLC
|
Andrew I. Crossed,
|
449
|
MW, NE
|
For-profit
|
||||
|
183 E. Main St., Suite 600; Rochester, NY 14604
|
executive vice president
|
697
|
|||||||
|
(17)
|
Conifer completed seven projects and placed in service 697 units in 2009.
|
||||||||
|
14
|
MERCY HOUSING, INC.
|
Brian Shuman,
|
384
|
National
|
Non-profit
|
||||
|
1999 Broadway, Suite 1000; Denver, CO 80202
|
president and COO
|
941
|
|||||||
|
(23)
|
The owner of 14,501 affordable units, Mercy Housing started five new LIHTC projects last year and has about 49 projects in its pipeline.
|
||||||||
|
15
|
VOLUNTEERS OF AMERICA
|
Patrick Sheridan,
|
365
|
National
|
Non-profit
|
||||
|
1660 Duke St.; Alexandria, VA 22314
|
senior vice president of housing development
|
165
|
|||||||
|
(5)
|
A leader in developing affordable seniors housing, the nonprofit is also active in building multifamily and permanent supportive housing. VOA also preserves housing at risk of losing its affordability.
|
||||||||
|
16
|
ENTERPRISE HOMES, INC.
|
Chickie Grayson,
|
356
|
NE, SC
|
For-profit
|
||||
|
312 N. Martin Luther King Jr. Blvd.; Baltimore, MD 21201
|
president and CEO
|
460
|
|||||||
|
(24)
|
Enterprise closed on three affordable and mixed-income communities last year.
|
||||||||
|
17
|
THE GATEHOUSE GROUP, INC.
|
Brian J. McMillin,
|
344
|
NE, SE
|
For-profit
|
||||
|
120 Forbes Blvd.; Mansfield, MA 02048
|
vice president
|
124
|
|||||||
|
(49)
|
The company started three new LIHTC projects last year and hopes to start three more this year.
|
||||||||
|
18
|
THE INTEGRAL GROUP, LLC
|
Vicki Lundy Wilbon,
|
331
|
National
|
For-profit
|
||||
|
60 Piedmont Ave. N.E.; Atlanta, GA 30303
|
executive vice president
|
26
|
|||||||
|
(new)
|
Integral closed on two multifamily projects and leased up its first special-needs development in 2009.
|
||||||||
|
19
|
CARLISLE DEVELOPMENT GROUP, LLC
|
Matthew Greer,
|
296
|
SE
|
For-profit
|
||||
|
2950 S.W. 27th Ave., Suite 200; Miami, FL 33133
|
CEO
|
998
|
|||||||
|
(19)
|
Carlisle started four LIHTC projects last year and completed construction on 10.
|
||||||||
|
20
|
NORSTAR DEVELOPMENT USA
|
Linda Goodman,
|
284
|
MW, NE, SC, SE
|
For-profit
|
||||
|
200 S. Division St.; Buffalo, NY 14204
|
executive director
|
375
|
|||||||
|
(30)
|
Norstar has extensive experience working with public housing authorities. The firm started three LIHTC projects in 2009.
|
||||||||
|
21
|
WABUCK DEVELOPMENT CO.
|
Garry Watkins,
|
278
|
SE
|
For-profit
|
||||
|
100 Wabuck Drive; Leitchfield, KY 42754
|
president
|
240
|
|||||||
|
(42)
|
The firm has developed more than 3,000 affordable housing units in Kentucky. Wabuck started eight projects in 2009.
|
||||||||
|
22
|
COLUMBIA RESIDENTIAL
|
Jim Grauley,
|
272
|
SE
|
For-profit
|
||||
|
1718 Peachtree St., N.W., Suite 684; Atlanta, GA 30309
|
president and COO
|
880
|
|||||||
|
(11)
|
Columbia started two LIHTC projects last year and plans to start four this year.
|
||||||||
|
23
|
THE PACIFIC COS.
|
Caleb Roope,
|
268
|
W
|
For-profit
|
||||
|
430 E. State St., Suite 100; Eagle, ID 83616
|
president and CEO
|
263
|
|||||||
|
(34)
|
The company will work on developing its pipeline of nearly 750 affordable units this year after starting 268 units in four projects last year.
|
||||||||
|
24
|
THE NUROCK COS.
|
Robert Hoskins,
|
260
|
SC, SE
|
For-profit
|
||||
|
3460 Preston Ridge Road, Suite 175; Alpharetta, GA 30005
|
managing principal
|
668
|
|||||||
|
(10)
|
NuRock plans to start about five new projects this year and complete two developments.
|
||||||||
|
25
|
WALLICK-HENDY DEVELOPMENT
|
Tom Feusse,
|
258
|
MW, NE, SE
|
For-profit
|
||||
|
6880 Tussing Road; Reynoldsburg, OH 43068
|
CEO
|
108
|
|||||||
|
(new)
|
The firm is looking at starting four new LIHTC projects and several more without tax credits this year.
|
||||||||
|
26
|
COHEN-ESREY REAL ESTATE SERVICES, LLC
|
R. Lee Harris,
|
203
|
National
|
For-profit
|
||||
|
6800 W. 64th St.; Overland Park, KS 66202
|
president and CEO
|
123
|
|||||||
|
(37)
|
The firm, which started two LIHTC developments last year, brought investors into its newly formed tax credit fund.
|
||||||||
|
27
|
EDEN HOUSING, INC.
|
Linda Mandolini,
|
199
|
California
|
Non-profit
|
||||
|
22645 Grand St.; Hayward, CA 94541
|
exec
|
40
|
|||||||
|
(new)
|
Eden started three new construction projects last year. It also took over management of 11 properties for a nonprofit organization in financial trouble.
|
||||||||
|
28
|
THE INGERMAN GROUP
|
Maria Duque Buckley,
|
183
|
NE, SE
|
For-profit
|
||||
|
725 Cuthbert Blvd.; Cherry Hill, NJ 08002
|
director of development
|
359
|
|||||||
|
(new)
|
The firm continues to develop a diversified portfolio of projects across Delaware, Florida, Maryland, New Jersey, and Pennsylvania.
|
||||||||
|
29
|
HOMES FOR AMERICA, INC.
|
Nancy S. Rase,
|
171
|
NE, SE
|
Non-profit
|
||||
|
318 Sixth St., Suite 2; Annapolis, MD 21403
|
president and CEO
|
30
|
|||||||
|
(new)
|
The nonprofit started three LIHTC projects last year and one Non-profitLIHTC community in 2009.
|
||||||||
|
29
|
REALTEX DEVELOPMENT CORP.
|
Rick Deyoe,
|
171
|
SC
|
For-profit
|
||||
|
912 S. Capital of Texas Highway, Suite F-200; Austin, TX 78746
|
president
|
872
|
|||||||
|
(9)
|
The firm completed construction of 872 units in eight projects in Mississippi and Texas last year.
|
||||||||
|
30
|
BISCAYNE HOUSING GROUP
|
Michael Cox,
|
160
|
SE
|
For-profit
|
||||
|
105 S.E. 2nd Ave., Suite 1302; Miami, FL 33131
|
principal
|
414
|
|||||||
|
(new)
|
After completing four LIHTC developments and starting construction on two more in 2009, the firm plans to start nine developments this year.
|
||||||||
|
31
|
PROGRESSIVE REDEVELOPMENT, INC.
|
Richelle (Shelly) Patton,
|
155
|
SE
|
Non-profit
|
||||
|
321 W. Hill St., Suite 3; Decatur, GA 30030
|
vice president
|
319
|
|||||||
|
(28)
|
During its 20th anniversary last year, PRI started construction on three projects. It hopes to start three more this year.
|
||||||||
|
31
|
TREK DEVELOPMENT GROUP
|
William Gatti,
|
155
|
NE
|
For-profit
|
||||
|
130 7th St., Suite 300; Pittsburgh, PA 15222
|
president
|
101
|
|||||||
|
(new)
|
Trek closed all of its LIHTC deals in 2009 through direct equity investment from regional banks.
|
||||||||
|
32
|
AMCAL MULTI-HOUSING, INC.
|
Arjun Nagarkatti,
|
153
|
W
|
For-profit
|
||||
|
30141 Agoura Road, Suite 100; Agoura Hills, CA 91301
|
president
|
232
|
|||||||
|
(39)
|
The firm is working on the first affordable apartment community in Rancho Palos Verdes, Calif.
|
||||||||
|
32
|
NATIONAL COMMUNITY RENAISSANCE
|
Orlando Cabrera,
|
153
|
National
|
Non-profit
|
||||
|
9065 Haven Ave., Suite 100; Rancho Cucamonga, CA 91730
|
CEO
|
493
|
|||||||
|
(3)
|
After starting construction on three developments in 2009, National CORE hopes to start seven more this year.
|
||||||||
|
33
|
SPM, LLC
|
Allen Smith,
|
150
|
NE, SC, SE
|
For-profit
|
||||
|
1103 Richard Arrington Jr. Blvd. South; Birmingham, AL 35205
|
executive managing director
|
0
|
|||||||
|
(new)
|
The owner of 4,323 affordable housing units, the firm started one LIHTC project last year.
|
||||||||
|
34
|
HOUSING AND COMMUNITY SERVICES, INC.
|
Jose Mascorro,
|
144
|
SC
|
Non-profit
|
||||
|
8610 N. New Braunfels, Suite 500; San Antonio, TX 78217
|
director of corporate administration
|
0
|
|||||||
|
(new)
|
The nonprofit is working with The NRP Group to build an affordable housing development in San Antonio.
|
||||||||
|
35
|
HERMAN & KITTLE PROPERTIES, INC.
|
Jeffrey Kittle,
|
133
|
MW, SC
|
For-profit
|
||||
|
500 E. 96th St., Suite 300; Indianapolis, IN 46240
|
executive vice president and managing director
|
698
|
|||||||
|
(21)
|
In addition to keeping new deals flowing, the company grew its third-party management business last year.
|
||||||||
|
36
|
THE COMMUNITY BUILDERS, INC.
|
Patrick E. Clancy,
|
129
|
MW, NE, SE
|
Non-profit
|
||||
|
95 Berkeley St., Suite 500; Boston, MA 02116
|
president and CEO
|
722
|
|||||||
|
(26)
|
TCB will focus on the delivery of multifamily starts in distressed neighborhoods utilizing Neighborhood Stabilization Program resources this year.
|
||||||||
|
37
|
CHELSEA INVESTMENT CORP.
|
James J. Schmid,
|
128
|
W
|
For-profit
|
||||
|
5993 Avenida Encinas, Suite 101; Carlsbad, CA 92008
|
president and CEO
|
167
|
|||||||
|
(46)
|
The company started two LIHTC projects last year and hopes to close six affordable housing transactions in 2010.
|
||||||||
|
38
|
USA PROPERTIES FUND, INC.
|
Geoffrey C. Brown,
|
127
|
W
|
For-profit
|
||||
|
2440 Professional Drive; Roseville, CA 95661
|
president
|
255
|
|||||||
|
(35)
|
USA Properties projects starting as many as seven developments this year.
|
||||||||
|
39
|
AHC, INC.
|
Stephen Smith,
|
126
|
NE, SE
|
Non-profit
|
||||
|
2230 N. Fairfax Drive; Arlington, VA 22201
|
senior vice president
|
39
|
|||||||
|
(new)
|
In addition to starting two projects, AHC began renovation of 454 units last year.
|
||||||||
|
40
|
RETIREMENT HOUSING FOUNDATION
|
Laverne R. Joseph,
|
115
|
National
|
Non-profit
|
||||
|
911 N. Studebaker Road; Long Beach, CA 90815
|
president and CEO
|
40
|
|||||||
|
(new)
|
A faith-based nonprofit, RHF is building its portfolio through acquisitions and development.
|
||||||||
|
41
|
ENHANCED AFFORDABLE DEVELOPMENT Co., LLC
|
Ari Majer,
|
114
|
SE, W
|
For-profit
|
||||
|
4221 Wilshire Blvd., Suite 260; Los Angeles, CA 90010
|
CFO
|
92
|
|||||||
|
(new)
|
The firm recently completed a 92-unit supportive-housing project in Los Angeles.
|
||||||||
|
42
|
DOMINIUM DEVELOPMENT & ACQUISITION, LLC
|
Paul Sween and
|
112
|
MW, SC, SE, W
|
For-profit
|
||||
|
2355 Polaris Lane North, Suite 100; Plymouth, MN 55447
|
Armand Brachman, principals
|
149
|
|||||||
|
(new)
|
Dominium is looking at starting four new LIHTC projects with more than 500 units this year.
|
||||||||
|
43
|
RESOURCES FOR COMMUNITY DEVELOPMENT
|
Linda Mackey,
|
104
|
California
|
Non-profit
|
||||
|
2730 Telegraph Ave.; Berkeley, CA 94705
|
deputy director
|
322
|
|||||||
|
(48)
|
RCD had a big 2009, completing five developments. It hopes to start work on five more in 2010.
|
||||||||
|
44
|
JAMBOREE HOUSING CORP.
|
Laura Archuleta,
|
101
|
California
|
Non-profit
|
||||
|
17701 Cowan Ave., Suite 200; Irvine, CA 92614
|
president
|
172
|
|||||||
|
(47)
|
Jamboree expects to close six deals in the first half of 2010. Three will use different federal stimulus programs.
|
||||||||
|
45
|
NATIONAL CHURCH RESIDENCES
|
Thomas W. Slemmer,
|
100
|
National
|
Non-profit
|
||||
|
2335 N. Bank Drive; Columbus, OH 43220
|
president and CEO
|
233
|
|||||||
|
(new)
|
The organization received four LIHTC reservations in Ohio in 2009, the highest number of awards it has received from one agency in a single year.
|
||||||||
|
45
|
PINNACLE HOUSING GROUP
|
David O. Deutch,
|
100
|
SC, SE
|
For-profit
|
||||
|
9400 S. Dadeland Blvd., Suite 100; Miami, FL 33156
|
partner
|
597
|
|||||||
|
(16)
|
Pinnacle completed five LIHTC developments last year. It plans to start another five developments this year.
|
||||||||
|
46
|
BEACON COMMUNITIES, LLC
|
Howard E. Cohen,
|
97
|
NE, SE
|
For-profit
|
||||
|
100 High St., 5th Floor; Boston, MA 02110
|
CEO
|
0
|
|||||||
|
(new)
|
Experienced in all areas of multifamily housing, Beacon has developed nearly 9,000 units over the years.
|
||||||||
|
47
|
BENEFICIAL COMMUNITIES
|
Donald Paxton,
|
96
|
NE, SE
|
For-profit
|
||||
|
2206 Jo An Drive; Sarasota, FL 34231
|
president
|
432
|
|||||||
|
(31)
|
The company plans to start three LIHTC projects and two without tax credits this year.
|
||||||||
|
48
|
BEYOND SHELTER, INC.
|
Lynn Fundingsland,
|
95
|
MW
|
Non-profit
|
||||
|
325 Broadway; Fargo, ND 58107
|
COO
|
32
|
|||||||
|
(new)
|
Beyond Shelter started three projects in 2009.
|
||||||||
|
49
|
COMMON GROUND
|
Tim Marx,
|
72
|
NE, SC, SE, W
|
Non-profit
|
||||
|
505 Eighth Ave., 15th Floor; New York, NY 10018
|
executive director
|
433
|
|||||||
|
(27)
|
After completing 433 units in 2009, Common Ground plans to open three new permanent supportive-housing projects with 525 units this year.
|
||||||||
|
50
|
MID-PENINSULA HOUSING COALITION
|
Matthew O. Franklin,
|
68
|
California
|
Non-profit
|
||||
|
303 Vintage Park Drive, Suite 250; Foster City, CA 94404
|
president
|
104
|
|||||||
|
(43)
|
The nonprofit recently started construction on a 68-unit transit-oriented development in San Mateo, Calif.
|
||||||||
|
REGIONS: MW=Midwest; NE=Northeast; SC=South Central; SE=Southeast; W=West
|
|||||||||
