Top 50 Affordable Housing Owners of 2014

9 MIN READ
  • RANK
    (VS. 2013)
    COMPANY INFO EXECUTIVE CONTACT AFFORDABLE UNITS
    PROJECTS OWNED
    REGION(S) ORG. TYPE Company Fact
    1
    (1)
    THE MICHAELS ORGANIZATION
    3 E. Stow Road, Suite 100; P.O. Box 994; Marlton, NJ 08053
    (856) 596-3008 | www.themichaelsorg.com
    John O’Donnell, president 46,662
    367
    National For-profit The Michaels Organization, which owns 367 affordable housing developments with 46,662 units, is the top owner based on the number of affordable housing units owned as of Jan. 1.
    2
    (7)
    VOLUNTEERS OF AMERICA
    1660 Duke St.; Alexandria, VA 22314
    (703) 341-5095 | www.voa.org
    Patrick Sheridan, senior vice president of housing development 19,426
    484
    National Nonprofit In 2014, the majority of developments taken on by the nonprofit were preservation projects while about 40% were new construction.
    3
    (4)
    GHC HOUSING PARTNERS
    15301 Ventura Blvd., Suite 570; Sherman Oaks, CA 91403
    (818) 808-0600 | www.ghchousing.com
    Monique Lawshe, senior vice president 19,346
    170
    National For-profit In 2014, GHC purchased senior housing developments from two different long-term nonprofits and worked to ensure the properties’ affordability for residents.
    4
    (6)
    MERCY HOUSING
    1999 Broadway, Suite 1000; Denver, CO 80202
    (303) 830-3300 | www.mercyhousing.org
    Jane Graf, president and CEO 18,273
    281
    National Nonprofit Mercy launched a preservation initiative to acquire, in the next five years, 35 multifamily assets that are close to job centers and
    or public transportation.
    5
    (8)
    NATIONAL CHURCH RESIDENCES
    2335 N. Bank Drive; Columbus, OH 43220
    (800) 388-2151 | www.ncr.org
    Michelle Norris, president, National Church Residences Development Corp. 17,874
    262
    National Nonprofit The nonprofit owns affordable seniors housing in 28 states and Puerto Rico.
    6
    (5)
    DOMINIUM
    2905 Northwest Blvd., Suite 150; Plymouth, MN 55441
    (763) 354-5500 | www.dominiumapartments.com
    Paul Sween and Armand Brachman, managing partners 17,773
    168
    MW, SC, SE, W For-profit In recent years, the firm has completed a number of historic adaptive-reuse projects targeted to artists.
    7
    (3)
    CASCADE AFFORDABLE HOUSING
    2801 Alaska Way, Suite 200; Seattle, WA 98052
    (206) 215-9700 | www.pinnacleliving.com
    Stewart Hill, director of partner relations 15,334
    83
    National For-profit Cascade was known as Pinnacle Family of Cos. on last year’s Top 50 owners list.
    8
    (10)
    HUNT COS.
    4401 N. Mesa St.; El Paso, TX 79902
    (915) 533-1122 | www.huntcompanies.com
    Chris Hunt, CEO 14,933
    89
    National For-profit In addition to being an owner, Hunt
    LEDIC Management Affiliates manages more than 24,000 affordable units for third-party clients.
    9
    (9)
    HIGHRIDGE COSTA COS.
    330 W. Victoria St.; Gardena, CA 90248
    (424) 258-2800 | www.housingpartners.com
    Michael Costa, president and CEO 14,192
    139
    W For-profit The company completed three acquisition-rehab projects and acquired an additional three affordable communities in 2014.
    10
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    SOUTHPORT FINANCIAL SERVICES
    1911 65th Ave. W.; Tacoma, WA 98466
    (727) 669-3660 | N/A
    Michael Molinari, vice president 14,118
    155
    National For-profit In the firm’s history, it has developed 122 developments with 11,382 affordable units.
    11
    (11)
    McCORMACK BARON SALAZAR
    720 Olive St., Suite 2500; St. Louis, MO 63101
    (314) 621-3400 | www.mccormackbaron.com
    Kevin J. McCormack, president 13,563
    123
    National For-profit The company, which specializes in revitalizing distressed urban neighborhoods, plans to explore more housing opportunities for those earning in the 60% to 120% area median income range.
    12
    (15)
    WINNCOMPANIES
    6 Faneuil Hall Marketplace; Boston, MA 02109
    (617) 239-4554 | www.winnco.com
    Adam Stein, senior vice president, WinnDevelopment 13,148
    89
    NE, SC, SE, W For-profit 2014 was a major pipeline development year for Winn, which is expected to result in about 1,500 preservation starts and 225 affordable construction starts this year.
    13
    (13)
    CONIFER REALTY
    1000 University Ave., Suite 500; Rochester, NY 14607
    (585) 324-0571 | www.coniferllc.com
    Andrew I. Crossed, executive vice president 13,021
    203
    MW, NE For-profit Conifer relocated and expanded its headquarters to an historic industrial building that provides new, efficient, and innovative work space.
    14
    (12)
    RETIREMENT HOUSING FOUNDATION
    911 N. Studebaker Road; Long Beach, CA 90815
    (562) 257-5100 | www.rhf.org
    Laverne R. Joseph, president and CEO 12,911
    149
    National Nonprofit Specializing in affordable senior and family housing, RHF opened two communities last year.
    15
    (14)
    THE NRP GROUP
    5309 Transportation Blvd.; Cleveland, OH 44125
    (216) 475-8900 | www.nrpgroup.com
    J. David Heller and T. Richard Bailey, partners 11,964
    114
    National For-profit NRP reorganized its property management team in 2014, with the addition of experienced senior level operational and marketing employees.
    16
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    THE MILLENNIA COS.
    8111 Rockside Road; Cleveland, OH 44125
    (216) 520-1250 | www.mhmtld.com
    Frank Sinito, president 11,628
    126
    MW, NE, SC, SE For-profit The firm plans to accelerate acquisition, staff development, and revenue over the coming year.
    17
    (16)
    AMERICAN COMMJNITY DEVELOPERS
    2050 Harper Ave.; Detroit, MI 48225
    (313) 881-8150 | www.acdmail.com
    Gerald A. Krueger, president 11,490
    84
    MW, NE, SC, SE For-profit The company acquired two affordable housing developments in 2014 and plans to acquire two more this year.
    18
    (22)
    PENNROSE PROPERTIES
    1301 N. 31st St.; Philadelphia, PA 19121
    (267) 386-8600 | www.pennrose.com
    Mark H. Dambly, president 11,224
    186
    MW, NE, SE For-profit In 2014, Pennrose completed a landmark housing credit development aimed at LGBT seniors in Philadelphia.
    19
    (17)
    BEACON COMMUNITIES
    2 Center Plaza, Suite 700; Boston, MA 02108
    (617) 574-1100 | www.beaconcommunitiesllc.com
    Pamela Goodman, CEO 11,200
    85
    National For-profit In addition to starting construction on a new housing tax credit development, Beaon commenced rehab on 750 apartments last year.
    20
    (20)
    BRIDGE HOUSING CORP.
    600 California St., Suite 900; San Francisco, CA 94108
    (415) 989-1111 | www.bridgehousing.com
    Cynthia A. Parker, president and CEO 11,193
    101
    W Nonprofit BRIDGE completed the acquisition of 900 units in 2014.
    21
    (18)
    THE HALLMARK COS.
    3111 Paces Mill Road, Suite A-250; Atlanta, GA 30339
    (770) 984-2100 N
    A
    Martin Petersen, president and CEO 11,089
    236
    SE For-profit The firm hired construction management personnel to better manage projects once they are closed and under construction.
    22
    (21)
    USA PROPERTIES FUND
    3200 Douglas Blvd., Suite 200; Roseville, CA 95661
    (916) 773-6060 | www.usapropfund.com
    Geoffrey C. Brown, president 10,038
    81
    W For-profit USA Properties is working on two programs to bring health care to its senior housing properties.
    23
    (37)
    GENE B. GLICK CO.
    8425 Woodfield Crossing Blvd., Suite 300W; Indianapolis, IN 46240
    (317) 469-0400 | www.genebglick.com
    David O. Barrett, president and CEO 9,892
    88
    MW, NE, SC, SE For-profit The firm hopes to add approximately 800 units to its portfolio this year.
    24
    (19)
    SILVER STREET DEVELOPMENT CORP.
    33 Silver St., Suite 300; Portland, ME 04101
    (207) 780-9800 | www.silver-street.net
    Christopher Poulin, COO 9,648
    68
    National For-profit Silver Street recently completed the renovation of 204 units in two properties in Virginia.
    25
    (29)
    HERMAN & KITTLE PROPERTIES
    500 E. 96th St., Suite 300; Indianapolis, IN 46240
    (317) 805-1980 | www.hermankittle.com
    Jeffrey Kittle, president and CEO 9,622
    80
    National For-profit The firm worked to do second and third deals in market areas where it had an initial toehold.
    26
    (25)
    AMBLING MANAGEMENT CO.
    110 Ministry Drive, Suite D; Irmo, SC 29063
    (229) 244-2800 | www.ambling.com
    Kimberly A. Barkwell, president 9,491
    83
    National For-profit Ambling manages approximately 11,700 affordable housing units.
    27
    (27)
    THE COMMUNITY BUILDERS
    95 Berkeley St., Suite 500; Boston, MA 02116
    (617) 695-9595 | www.tcbinc.org
    Bart Mitchell, president and CEO 9,444
    111
    MW, NE, SE Nonprofit TCB recently developed and implemented a new tool to assess real estate investment decisions.
    28
    (26)
    MILLER-VALENTINE GROUP
    9349 Waterstone Blvd.; Cincinnati, OH 45249
    (513) 588-1000 | www.mvg.com
    Brian McGeady, president, MV Affordable Housing Development 9,380
    105
    MW, NE, SC, SE For-profit The firm completed construction on its first Oklahoma and Texas developments in 2014.
    29
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    L+M DEVELOPMENT PARTNERS
    1865 Palmer Ave., Suite 203; Larchmont, NY 10538
    (914) 833-3000 | www.lmdevpartners.com
    Ron Moelis, CEO 9,202
    69
    NE, SC, W For-profit L+M recently announced a new organizational structure to support the company’s large growth.
    30
    (31)
    THE WODA GROUP
    229 Huber Village Blvd., Suite 100; Westerville, OH 43081
    (614) 396-3200 | www.wodagroup.com
    Jeffrey Woda and David Cooper Jr., principals 9,097
    223
    MW, NE, SE For-profit The equity raised by the firm since its inception has exceeded $1.5 billion.
    31
    (23)
    PICERNE REAL ESTATE GROUP
    247 N. Westmonte Drive; Altamonte Springs, FL 32714
    (407) 772-0200 | www.picernerealtygroup.com
    Robert M. Picerne, COO 9,043
    63
    National For-profit The firm plans to focus on seniors housing in select markets to respond to upcoming demographic changes.
    32
    (33)
    LAWLER WOOD HOUSING PARTNERS
    900 S. Gay St., Suite 2000; Knoxville, TN 37902
    (865) 244-4300 | www.lawlerwoodhousing.com
    Phillip O. Lawson, president and CEO 8,922
    63
    MW, NE, SC, SE For-profit Lawler Wood completed eight affordable housing transactions in 2014.
    33
    (36)
    VITUS GROUP
    1700 Seventh Ave., Suite 2000; Seattle, WA 98101
    (206) 832-1315 | www.vitusgroup.com
    Stephen R. Whyte, managing director 8,736
    94
    National For-profit Vitus continued to expand its East Coast presence in 2014 with the conversion of a former school into housing in New Britain, Conn.
    34
    (28)
    PRESERVATION OF AFFORDABLE HOUSING
    40 Court St., Suite 700; Boston, MA 02108
    (617) 261-9898 | www.poah.org
    Amy S. Anthony, president and CEO 8,520
    78
    MW, NE, SC, SE Nonprofit POAH focuses on the preservation of at-risk multifamily housing to ensure their stewardship and affordability for the long term.
    35
    (30)
    RELATED CALIFORNIA
    18201 Von Karman Ave., Suite 900; Irvine, CA 92612
    (949) 660-7272 | www.relatedcalifornia.com
    Frank Cardone, president of Related California Affordable 8,399
    64
    W For-profit In addition to starting 445 affordable housing units, Related California acquired 475 units last year.
    36
    (35)
    OMNI NEW YORK 885
    Second Ave., 31st Floor; New York, NY 10017
    (646) 502-7192 | www.onyllc.com
    Megan Thomas, executive vice president and COO 7,994
    35
    NE, W For-profit Omni recently completed the rehabilitation of Longwood Residences, a 361-unit property in the Bronx, N.Y.
    37
    (38)
    THE PACIFIC COS.
    430 E. State St., Suite 100; Eagle, ID 83616
    (208) 461-0022 | www.tpchousing.com
    Caleb Roope, president and CEO 7,901
    141
    W For-profit The firm started 937 affordable and market-rate units in 2014, the largest number in company history.
    38
    (32)
    NATIONAL COMMUNITY RENAISSANCE
    9421 Haven Ave.; Rancho Cucamonga, CA 91730
    (909) 483-2444 | www.nationalcore.org
    Steve PonTell, president and CEO 7,810
    83
    National Nonprofit The company completed construction on three new developments with 143 units in 2014.
    39
    (40)
    T.M. ASSOCIATES MANAGEMENT
    15825 Shady Grove Road, Suite 55; Rockville, MD 20850
    (301) 365-9314 | www.tmamgroup.com
    Robert B. Margolis, CEO 7,226
    159
    NE, SE For-profit T.M. Associates is seeking to expand its third-party management portfolio.
    40
    (39)
    WALLICK COMMUNITIES
    6880 Tussing Road; Reynoldsburg, OH 43068
    (614) 552-5605 | www.wallick.com
    Tom Feusse, CEO 6,888
    95
    MW For-profit In 2014, Wallick started preservation work on 1,493 units.
    41
    (43)
    JAMBOREE HOUSING CORP.
    17701 Cowan Ave., Suite 200; Irvine, CA 92614
    (949) 263-8676 | www.jamboreehousing.com
    Laura Archuleta, president 6,692
    70
    W Nonprofit Jamboree is working to make common areas more accessible to the neighborhood and not just residents, making them true community centers.
    42
    (42)
    EAH HOUSING
    2169 E. Francisco Blvd., Suite B; San Rafael, CA 94901
    (415) 258-1800 | www.eahhousing.org
    Mary Murtagh, president and CEO 6,638
    73
    W Nonprofit EAH completed the substantial rehabilitation of 196 units in two developments last year.
    43
    (45)
    COLUMBIA RESIDENTIAL
    1718 Peachtree St., N.W., Suite 684; Atlanta, GA 30309
    (404) 874-5000 | www.columbiares.com
    Noel Khalil and Jim Grauley, principals 6,463
    53
    SC, SE For-profit The firm’s new Columbia Ventures focuses on urban mixed-use and predominantly market-rate housing developments.
    44
    (44)
    MIDPEN HOUSING CORP.
    303 Vintage Park Drive, Suite 250; Foster City, CA 94404
    (650) 356-2900 | www.midpen-housing.org
    Matthew O. Franklin, president 6,357
    87
    W Nonprofit MidPen’s portfolio consists of approximately 68% family developments, 22% seniors housing, 5% special-needs housing, and 5% SROS.
    45
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    CAPITAL REALTY GROUP
    86 Route 59 East; Spring Valley, NY 10977
    (845) 694-7074 | www.thecapitalrealty.com
    Max Kaufman, director of development 6,190
    44
    National For-profit More than 90% of the firm’s portfolio is project-based Sec. 8 housing.
    46
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    EDEN HOUSING
    22645 Grand St.; Hayward, CA 94541
    (510) 582-1460 | www.edenhousing.org
    Linda Mandolini, president 6,131
    85
    W Nonprofit Eden partnered with South County Housing to begin transitioning the latter’s entire rental portfolio, about 1,500 units, to a jointly sponsored new ownership entity, Eden South County.
    47
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    CSI SUPPORT AND DEVELOPMENT SERVICES
    8425 E. Twelve Mile Road; Warren, MI 48093
    (586) 753-9002 | www.csi.coop
    Nancy Evans, general manager 6,058
    58
    National Nonprofit In 2014, CSI opened two new HUD
    PRAC buildings in Maryland and Michigan.
    48
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    THE NHP FOUNDATION
    122 E. 42nd St., Suite 3500; New York, NY 10168
    (646) 336-4940 | www.nhpfoundation.org
    Thomas G. Vaccaro, senior vice president and secretary 5,996
    31
    MW, NE, SC, SE Nonprofit The nonprofit strengthened its management team by adding new staff, expanding its board, and investing in leadership development.
    49
    (49)
    PINNACLE HOUSING GROUP
    9400 S. Dadeland Blvd., Suite 100; Miami, FL 33156
    (305) 854-7100 | www.pinnaclehousing.com
    David Deutch, partner 5,990
    40
    SC, SE For-profit In 2014, Pinnacle secured a housing credit allocation for a Rental Assistance Demonstration program conversion in Florida.
    50
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    AHC
    2240 Fairfax Drive; Arlington, VA 22201
    (571) 236-5957 | www.ahcinc.org
    Stephen Smith, senior vice president 5,966
    43
    NE, SE Nonprofit AHC partnered with the Housing Partnership Equity Trust to acquire a 228-unit mixed-income property in Montgomery County, Md.