Nation's Most Active Affordable Developer
Cleveland, OH—(April 20, 2009) The NRP Group announced today it has been ranked as the nation's most active affordable housing developer by Affordable Housing Finance magazine for the third consecutive year. The developer started 16 projects with 1,437 units and completed another 15 projects with 1,412 units in 2008. The NRP Group is anticipating another 15 developments for 2009.
"Given the economic times, it is really a testimony to our company's core values that have allowed us to remain focused and accomplish what others may not have been able to do because of our team work, perseverance and unified goal," says J. David Heller, Principal, The NRP Group. "We never lose site of our mission to provide safe, decent and affordable housing for those individuals in need in our communities."
The NRP Group is seeing the "silver lining" by enhancing neighborhoods and providing residents with upscale amenities at affordable rents. Last month the company was also awarded with the prestigious 2009 Pillar Award by the National Association of Builders as Multifamily Developer of the Year.
"Receiving the number one ranking for affordable developers indicates what a hard working group of individuals can accomplish," says Alan Scott, co-principal with J. David Heller and T. Richard Bailey of The NRP Group.
"We have succeeded in funding the bulk of our deals and have moved mountain in the process, including finding additional soft dollars and incentives to overcome more rigorous terms,"
According to Affordable Housing Finance, the Top 50 firms estimate that 26,131 affordable housing units will be started this year. This would be nearly a 12% jump from 2008.
The NRP Group LLC: Developer, Builder and Management Company
The NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every project The NRP Group takes on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB's 2009 Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008 and 2009 by Affordable Housing Developers.
Since it's founding in September 1995 by Alan F. Scott, T. Richard Bailey and J. David Heller, the company has experienced continual growth in the fields of single-family, multi-family and senior housing, as well as commercial and retail properties. In all, more than 12,000 multi-family and single-family housing units have been built with another 1500+ planned in 2009.
In 2003, the owners formed NRP Management, which by year-end 2009 will manage more than 50 properties encompassing over 6,000 market rate and tax credit family and senior apartment properties in Ohio, Michigan, North Carolina, Virginia, Texas, Indiana, New Mexico and Arizona.
The NRP Group, LLC has offices in Cleveland, Ohio; San Antonio, Texas; Phoenix, AZ; Raleigh, North Carolina; for more information, call (216) 475-8900 or visit www.nrpgroup.com.
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