Housing Trust Group

What Housing Trust Group does

Housing Trust Group (HTG) is a privately held, vertically integrated real estate developer specializing in affordable and multifamily residential communities across Florida, the Southeastern United States, Texas, Illinois, and Arizona. Founded in 1980 by Randy Rieger and now led by his son Matthew Rieger as President and CEO, the company has developed more than 6,000 housing units with cumulative real estate transactions exceeding $4 billion. Its portfolio is predominantly affordable housing financed through Low-Income Housing Tax Credits (LIHTC), with properties reserved for households earning between 22% and 80% of Area Median Income, supplemented by a market-rate luxury brand (Aviva) in Arizona and senior and veteran housing specialty projects.

HTG's product surface is the physical housing community rather than a software platform; core competencies center on LIHTC syndication and structuring, mixed-income and mixed-use site planning (e.g., Max's Landing's integration of 11,388 square feet of ground-floor retail), and National Green Building Standards-certified construction. Vertically integrated functions include site acquisition, entitlement, development, construction oversight (EVP Bert Del Valle has overseen $1.4B+ in projects), asset management across 42 properties (SVP Jorge Livermore), and ongoing property management (EVP Lorena Gomez). The company maintains a recurring co-development partnership with AM Affordable Housing (founded by NBA Hall of Famer Alonzo Mourning) on multiple senior affordable projects.

Revenue mechanics combine one-time development fees, construction management fees on LIHTC-stacked financing packages (typically $20–$50M per project), and recurring rental income from owned and managed properties. Affordable units rent on income-based AMI tiers (typical rents $393–$1,875 per month depending on property and AMI band), while market-rate Aviva units command $1,699–$2,399 monthly. The customer base spans individual income-qualifying renters, seniors aged 55+, veterans and active-duty military, and a small set of institutional/government counterparties including housing finance authorities, municipalities, and LIHTC syndicators.

Name

Housing Trust Group

Legal name

Housing Trust Group

Website

https://htgf.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

Housing Trust Group is a privately held, vertically integrated developer of affordable and market-rate multifamily housing with over 6,000 units across five states, specializing in Low-Income Housing Tax Credit-financed communities for low-to-moderate income families, seniors, and veterans.

Ownership category

akta.pro rank

Product category

Affordable Multifamily Housing Development

NAICS

Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (53111), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (6233)

SIC

Operators Of Apartment Buildings (6513), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

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

akta.pro secondary industries

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG), Senior & Assisted Living Residential Property Management (BPAJAFAE)

Keywords

• Affordable housing development
• Multifamily housing
• LIHTC financing
• Property management
• Mixed-income communities

Headquarters

HQ city

Coconut Creek

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Affordable Housing Development and Management: HTG develops, builds and manages affordable multifamily residential communities. Revenue comes from development fees, construction management, and ongoing property management of LIHTC-financed properties. Properties charge rents scaled to Area Median Income (AMI) thresholds (typically 30-80% AMI).
2. Market-Rate Housing: HTG develops and manages market-rate multifamily communities, such as Aviva in Arizona, charging market-rate rents to residents.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Housing Trust Group is a vertically integrated full-service developer that develops, builds, and manages multifamily residential communities, with a primary focus on affordable housing financed through Low-Income Housing Tax Credit (LIHTC) structures and complemented by workforce, mixed-income, and market-rate developments. The company handles the entire lifecycle from site acquisition and financing through construction, leasing, and ongoing property management, serving income-qualifying residents earning 30-80% of area median income as well as market-rate renters.

Product overview

Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities operating across Florida, the Southeastern United States, Texas, Illinois, and Arizona. The company specializes in developing, building, and managing a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-income and mixed-use developments. HTG's product portfolio includes market-rate luxury communities under the Aviva brand (Mesa and Goodyear in Arizona), and numerous affordable housing communities across multiple states targeting residents earning 30-80% of area median income. The company has developed over 4,000 units of multi-family housing with transactions exceeding $4 billion, and operates both affordable housing communities and market-rate properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Aviva – Mesa A 325-unit luxury multifamily community in Mesa, Arizona offering one, two, and three-bedroom apartments with quartz countertops, Energy Star appliances, plank flooring, infinity pools, fitness center, and outdoor kitchen amenities, targeted at market-rate renters.
• Aviva – Goodyear

Quantifiable outcome

• 610 affordable apartments delivered in 2021 alone
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators13 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• The Related Companies: National, large-scale real estate developer with significant affordable housing exposure alongside luxury and commercial development. Comparable to HTG as a broad multifamily developer with affordable housing capabilities but operating at much greater scale and across more asset classes.

Direct peers

• RangeWater Real Estate: Southeast U.S.-focused multifamily developer and operator of market-rate and workforce housing. Comparable to HTG as a multifamily developer expanding across the Southeast and Sun Belt states with a mix of affordable and market-rate product.
• The Related Group: South Florida-based developer of luxury, affordable, and mixed-income multifamily communities. Closest comparable to HTG by geography (Miami focus), product mix (affordable + market-rate), and scale, with a similarly large South Florida pipeline.
• LDG Development: National LIHTC-focused multifamily developer specializing in affordable and mixed-income communities. Comparable to HTG in affordable housing focus, LIHTC structuring expertise, and project scale.
• Pennrose: Vertically integrated developer, owner, and manager of affordable and mixed-income multifamily housing across the U.S. Comparable to HTG in business model (full-service LIHTC developer with property management arm) and target resident segments.
• Dominium: One of the largest U.S. developers, owners, and managers of affordable housing, with deep LIHTC expertise and national footprint. Directly comparable to HTG as a LIHTC-focused affordable housing developer-operator.
• NRP Group: National developer of affordable, market-rate, and mixed-income multifamily housing. Closely comparable to HTG in LIHTC-driven affordable housing model, geographic diversification, and vertically integrated development-plus-management operations.
• AM Affordable Housing: Miami-based nonprofit affordable housing developer co-founded by Alonzo Mourning and HTG's partner on multiple projects. Comparable as a Florida-focused affordable housing developer targeting similar AMI levels and populations.

Emerging players

• LMC (Lennar Multifamily Communities): Multifamily developer operating across the Sun Belt with a market-rate and workforce housing focus. Comparable to HTG in the market-rate component of HTG's portfolio (e.g., the Aviva brand) and overlapping Sun Belt geographies.

Others

• WNC & Associates: National LIHTC syndicator and affordable housing investor. Comparable to HTG not as a competitor but as a counterparty — WNC is one of the types of institutional syndicators that HTG structures LIHTC equity through on its developments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HTG_LLC

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Housing Trust Group