Top 50 Affordable Housing Developers -- Cleveland’s NRP Group Growing Strong

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The NRP Group LLC, a Cleveland based developer, builder and property management company with regional offices in San Antonio, TX; Raleigh, NC and Phoenix, AZ has capitalized on opportunities created by the credit crisis by completing promising deals that other developers have not been able to deliver.

The NRP Group LLC, a Cleveland based developer, builder and property management company with regional offices in San Antonio, TX; Raleigh, NC and Phoenix, AZ has capitalized on opportunities created by the credit crisis by completing promising deals that other developers have not been able to deliver. Due to the company’s strategy and business philosophy, for three straight years The NRP Group remained a top nationally recognized affordable housing developer as designated by Affordable Housing Finance magazine. NRP was proud to be recognized as the second largest national developer ranked in the Top 50 Affordable Housing Developers in 2009.

According to the article in the April/May 2010 issue of Affordable Housing Finance, "The NRP Group in Cleveland, which has held the top developers' spot for the past three years, drops to No. 2 on the latest list, but continued its strong production activity with 1,411 affordable unit starts." Additionally, NRP gained a place over last year in Top 50 Affordable Housing owners to rank 18th nationally, up from 19 in 2009.

J. David Heller, Principal, The NRP Group, stated "We are very honored to be recognized by the Affordable Housing Magazine as the second largest developer of affordable housing in this great nation. We are excited that we have been able to provide a consistent flow of affordable housing for hard working American citizens of modest means. This could not have been accomplished without the incredible team effort of over 300 dedicated employees at The NRP Group.”

The NRP Group is exceeding growth expectations for 2010 with nearly 2,000 projected unit starts and 1,600 unit project completions nationally. In comparison, there were 1,411 unit starts in 2009 and 1,437 unit completions. For the past 15 years, The NRP Group has provided high-quality affordable housing to residents in Ohio, North Carolina, Virginia, Michigan, New Mexico, Indiana, Louisiana, Arizona and Texas, with future expansion in Florida. The NRP Group has dedicated its resources to meeting and exceeding the requirements of government projects, as this demands a high level of knowledge, experience and efficiency.

NRP has already been awarded two tax credit projects in Indiana this year with additional award announcements expected this summer for Texas and Ohio. NRP’s new venture in urban loft market rate units is currently breaking ground in San Antonio, Texas. Abbington at the Park, a new senior affordable housing development is currently in lease-up in Alliance, Ohio and by mid-summer Foster Pointe, another senior green development located near Steelyard Commons will be completed in Cleveland, Ohio. The NRP Group constructed new townhome residences that house 104 students last year at Hiram College, Hiram, Ohio, just in time for the start of fall semester. “NRP is venturing into a natural progression of development that fits nicely into our area of multi-family expertise,” said J. David Heller

Additionally in the past year, Cornerstone Senior Apartments in Cleveland, Ohio earned the largest LEED Certified Multifamily Gold Development in the U.S. NRP was presented by Case Western Reserve’s Weatherhead School of Management and The Council of Smaller Enterprises (COSE) with the 2009 Weatherhead Centurion Award for one of the fastest growing companies in Ohio. In addition, The NRP Group was named Multifamily Development Firm of the Year by the National Association of Home Builders as part of its annual 2009 Pillars of the Industry Awards—a highly coveted honor in the multifamily industry.

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 Finance.
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 13,500 multi-family and single-family housing units have been built with another 2,275+ planned in 2010.
In 2003, the owners formed NRP Management, which by year-end 2010 will manage nearly 70 properties encompassing over 7,500 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 http://www.nrpgroup.com.

Contact: Diane Christy
Phone: 216.475.8900
Fax: 216.475.0700
E-mail: dchristy (at) NRPGroup (dot) com

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