Name

Ulysses Development Group

Legal name

Ulysses Development Group LLC

Website

https://ulyssesdevelopment.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Lessors of Residential Buildings and Dwellings (53111), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Rental and Leasing Services (532), Lessors of Residential Buildings and Dwellings (531110)

SIC

Lessors Of Real Property, Nec (6519), Real Estate (6500), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF), Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

Keywords

• Affordable housing development
• Multifamily real estate
• Workforce housing
• Low income housing
• Senior housing

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Rental Operations: UDG develops, owns, and operates affordable housing communities. Revenue is generated through monthly rental payments from residents in their properties across multiple states.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Ulysses Development Group (UDG) develops, acquires, owns, and operates income-restricted multifamily rental housing communities — including family affordable housing, senior (55+) housing, and workforce housing — across multiple U.S. states. Communities typically range from 100 to 312 units and serve residents earning between 30% and 80% of Area Median Income (AMI), financed primarily through Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and state and federal affordable housing programs.

Product overview

Ulysses Development Group operates as a mission-driven affordable and workforce housing developer with a portfolio of named housing communities. The company's product offering consists of multifamily apartment communities across multiple states, including family housing (Salt River Flats, Salt River Flats 2, The Ridge at Sun Valley, Ponderosa Pines, Harvest Hill, The Prospector, Dahlia Village, Wild Rose Flats), senior housing (The Meadowmark 55+, Columbine Towers, Osprey Sound), and workforce housing (Eagle Villas). Communities range from 100 to 312 units and serve residents earning between 30-80% of area median income. Projects utilize Low-Income Housing Tax Credits (LIHTC) and various public financing tools. The company also provides acquisition and renovation services for existing properties (Columbine Towers, Eagle Villas).

Differentiator

Problem solved

Functional benefit

Products and services

• Salt River Flats 192-unit multifamily affordable housing community in Phoenix, Arizona for families and individuals earning at or below 60% AMI. Features include clubhouse, outdoor pool, fitness center, and pet-friendly options.
• Salt River Flats 2 168-unit affordable housing development in Phoenix, Arizona serving families earning up to 60% of area median income, expected to complete in Q1 2028.
• The Meadowmark 200-unit 55+ independent living community in Castle Rock, Colorado featuring affordable apartments for residents earning at or below 30%, 60%, or 70% of AMI. Amenities include craft room, fitness center, outdoor yoga deck, and clubroom.
• The Ridge at Sun Valley 195-unit multifamily affordable housing community in Sun Valley, Nevada offering one-, two-, and three-bedroom floor plans for families earning at or below 60% of AMI. First affordable housing deal to deploy Nevada's Home Means Nevada Initiative funds.
• Eagle Villas 120-unit affordable multi-family apartment community in Eagle, Colorado undergoing $9 million renovation to preserve and enhance workforce housing. Includes one-, two-, and three-bedroom plans with energy-efficient appliances.
• Columbine Towers 170-unit senior affordable apartment community in Denver, Colorado constructed in 1964. Currently undergoing $9M renovation with controlled access, elevators, and 24/7 emergency maintenance.
• Ponderosa Pines Planned 204-unit LIHTC multifamily development in Douglas County, Colorado with income-averaged 1-, 2-, and 3-bedroom floor plans. Target close in early 2026.
• The Acacia at Youngtown 312-unit income-restricted multifamily development in Youngtown, Arizona utilizing Low-Income Housing Tax Credits (LIHTC) with 1BR, 2BR, 3BR, and 4BR units through income averaging.
• Harvest Hill 152-unit affordable housing development in Broomfield, Colorado near RTD Broomfield Station, offering income-restricted apartments for individuals and families earning between 30-70% AMI.
• Osprey Sound 100-unit senior housing community in Orlando, Florida for residents 62 and older.
• Central Park Station Master-planned community in Colorado with phases awarded Federal 4% Credits, Accelerated State Credits, and Transit-Oriented Community Credit (TOC) by CHFA.
• The Prospector Apartments Affordable housing development in downtown Reno, Nevada bringing services and housing to families.
• Dahlia Village 198-unit affordable housing community in Phoenix, Arizona.
• Wild Rose Flats Affordable housing project in Phoenix, Arizona on land purchased from a school district.

Quantifiable outcome

• 2,230 apartments owned and operated across five states with plans to build or preserve 2,000 more by end of 2026
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• The Related Companies: National, vertically integrated real estate firm with deep affordable housing practice (Related Affordable). Both UDG co-founders (Gruskin and Larr) previously worked at Related, and the firm is a structural comparable for UDG's public-finance-driven affordable model, though Related operates at vastly greater scale.
• Enterprise Community Partners: Mission-driven nonprofit developer and LIHTC syndicator that creates affordable housing nationwide. Comparable in mission orientation, LIHTC reliance, and resident-targeting strategy, though structured as a nonprofit with broader community development activities.
• WinnCompanies: Large multifamily owner, developer, and manager with a sizable affordable housing portfolio. Comparable in LIHTC family and senior communities and mixed-income operations, though with broader geography, deeper property management infrastructure, and longer operating history.
• UDR, Inc. Public multifamily REIT where UDG's SVP-Finance Bill Licko was previously VP of Investments. Comparable in multifamily operating discipline and Sun Belt portfolio tilt, though UDR operates as a market-rate REIT at much larger scale.

Emerging players

• Mill Creek Residential: National multifamily developer where UDG's SVP-Head of Construction Mark O'Rear previously served as VP of Construction. Comparable in new-construction multifamily execution and Sun Belt focus, though Mill Creek is predominantly market-rate with a smaller affordable vertical.
• McWhinney: Denver-based mixed-income developer where UDG's Chief Development Officer Kirsty Greer previously served as EVP of Development. Comparable in Colorado market focus and multifamily affordable/market-rate development, but with a broader mixed-use and master-planned community practice.

Direct peers

• Lument: Specialized affordable and senior housing LIHTC equity provider and developer with significant project financing expertise. Comparable in LIHTC-driven deal structuring and senior housing vertical, though Lument also operates a major tax-credit syndication business alongside development.
• The NRP Group: National multifamily developer with a strong affordable and workforce housing vertical using LIHTC, tax-exempt bonds, and state financing. Comparable to UDG in product (LIHTC family and senior communities), target residents (≤60% and ≤80% AMI), and reliance on the same public-finance counterparty universe.
• Lincoln Avenue Capital: Mission-driven affordable housing acquirer and developer founded by Yoni Gruskin before he started UDG. Most directly comparable in strategy (acquire + preserve + develop LIHTC), geography (Sun Belt-leaning), and operating model, though materially larger and more mature (~11,000+ units acquired under Gruskin's tenure).
• Dominium: One of the largest U.S. affordable housing developers and operators, with a portfolio of LIHTC family and senior communities across 25+ states. Direct comparable in product mix and AMI targeting, though larger and more geographically diversified than UDG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ulysses-development-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ulysses Development Group