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