Foresight Affordable Housing

What Foresight Affordable Housing does

Foresight Affordable Housing, Inc. is a non-profit affordable housing provider headquartered in Ventnor City, New Jersey (with an administrative office in Egg Harbor Township, NJ), that has participated in the ownership, development, financing, or management of 61 properties containing more than 4,700 dwelling units across 11 U.S. states including New Jersey, Pennsylvania, New York, Illinois, California, Hawaii, South Carolina, North Carolina, Georgia, Alabama, Virginia, and Kentucky. The organization serves economically, educationally, and vocationally challenged individuals and families, with explicit segments including low-income families, age-restricted seniors, veterans, and persons with disabilities requiring handicap-accessible units. Its portfolio blends family communities (e.g., Atlantic Marina, Baxter Park, City Gardens, Bethlehem Townhouses) and age-restricted senior residences (e.g., Esterbrook Senior Residence, Pennsville Towers, Kamakana Senior, Woodgreen Village).

The company's operating model is built around three integrated lines: (1) affordable housing development and property ownership, structured primarily through HUD programs and the 4% Low-Income Housing Tax Credit (LIHTC) framework, with recent examples including the March 2026 $11.7M rehabilitation loan for Vineland Gardens in partnership with Churchill Stateside Group; (2) resident services and community programming delivered through Better Tomorrows, a social-services non-profit providing on-site computer learning centers, GED preparation, budgeting workshops, resume assistance, job training and placement, transportation assistance, food and clothing coordination, and medical wellness clinics; and (3) a scholarship program administered since 2015 in partnership with the Michaels Educational Foundation, including the annual Morton Baruch Memorial Scholarship (3/year since 2015), the annual Morton Schomer Memorial Scholarship (3/year since 2020), and one-time memorial awards. Foresight markets its integrated "housing-plus-opportunity" model alongside a service offering to current owners of affordable housing assets, crafting exit strategies and structured transaction solutions.

Revenue mechanics rely on regulated rental income from LIHTC/HUD-governed units across the portfolio, supplemented by tax-deductible donations (accepted via PayPal, credit, debit, or check), targeted philanthropic grants (e.g., $150,000 from TD Charitable Foundation in 2023), and rehabilitation/development financing through partners such as Churchill Mortgage Construction LLC. Rents are set in accordance with HUD and LIHTC program regulations based on tenant income and are not publicly disclosed. The organization is governed by a 7-member Board of Trustees with deep regulatory, financial, architectural, and resident representation, and operated by a small staff including Marc Getson (EVP Corporate Affairs), Martin Whalen (SVP Acquisitions & Development), Shonte' Espinal (SVP Asset Operations), and others. Distribution is direct through owned-and-operated communities with individual property microsites; the corporate website (foresightinc.org) serves as the central marketing and donation channel.

Name

Foresight Affordable Housing

Legal name

Foresight Affordable Housing, Inc.

Website

https://foresightinc.org

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Foresight Affordable Housing is a non-profit affordable housing provider operating 61 properties with over 4,700 dwelling units across 11 U.S. states. It serves low-income individuals, families, seniors, veterans, and persons with disabilities through HUD/LIHTC-financed housing combined with on-site social services and a resident scholarship program.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Assisted Living Facilities for the Elderly (623312), Other Residential Care Facilities (623990), Services for the Elderly and Persons with Disabilities (624120), Other Community Housing Services (624229)

SIC

Real Estate Agents & Managers (For Others) (6531), Services-Social Services (8300)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Active Adult / Senior Community Association Management (BPAJAHAJ), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Affordable housing development
• LIHTC tax credit housing
• HUD multifamily housing
• Affordable rental communities
• Resident social services

Headquarters

HQ city

Ventnor City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others, Marketing or Sales

Revenue model

1. Affordable housing rental income: Recurring rental revenue from 61+ affordable housing properties aggregating 4,700+ dwelling units across 11 states, with rents governed by HUD and various affordable housing program regulations (LIHTC, USDA Rural Housing, etc.).
2. Tax-deductible donations: Voluntary contributions from individuals and supporters funding Foresight's operational mission and resident scholarship program; accepted via check, PayPal, credit or debit card.
3. Rehabilitation and tax-credit development financing: Capital raised through structured financing arrangements such as the $11,699,000 rehabilitation loan for Vineland Gardens provided by Churchill Mortgage Construction LLC under a 4% Low-Income Housing Tax Credit redevelopment, plus grant awards funding physical and social service improvements.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Foresight Affordable Housing owns, develops, finances and manages 61 affordable rental housing communities containing more than 4,700 dwelling units across 11 U.S. states for low-income individuals, families, seniors, veterans and persons with disabilities. It specializes in HUD, LIHTC and USDA Rural Housing program compliance and pairs each property with an on-site social services and enrichment program (delivered with Better Tomorrows) plus a resident scholarship pipeline operated with the Michaels Educational Foundation.

Product overview

Foresight Affordable Housing, Inc. is a non-profit affordable housing provider, not a unified software product or platform-plus-modules architecture. Its offering is a real-estate portfolio of 61+ affordable housing communities across 11 states containing more than 4,700 dwelling units, delivered through three inter-related service lines: (1) Affordable Housing Communities — the property portfolio (Atlantic Marina, Baxter Park, The Arbor at Cotton Grove, Berkley Pointe, Bethlehem Townhouses, Cambridge Court, City Gardens, East I, Esterbrook Senior Residence, Glennview Townhouses I & II, Gwendolyn Place, Kamakana Senior, Laurel Hill Seniors, Lorena Heights, Miller's Ridge, Morgan Village, Pennsville Towers Senior, Piedmont Senior, Pinecrest Manor, Plaza at Centennial Hill I & II, Rice Street, Roosevelt IX & X, Spring Garden II, Villas at Reid Landing Senior, Vineland Preservation, Westhaven Park II A, Wisewood, Woodgreen Village) developed, owned, financed and managed for low-income individuals and families; (2) Resident Services & Community Programs — social-service, educational, vocational and life-skills programs delivered in partnership with Better Tomorrows at the communities (computer learning centers, homework clubs, GED programs, budgeting workshops, job training, medical wellness clinics, etc.); and (3) the Scholarship Program — the annual Morton Baruch Memorial Scholarship (since 2015), Morton Schomer Memorial Scholarship (since 2020), Susan Stewart Reape Memorial Scholarship (2023), and R. Jane Schwam Legacy Award (2024), funded in partnership with the Michaels Educational Foundation for residents of Foresight apartment communities. The three lines are tightly coupled: the properties house the residents, the resident-services programs enrich their lives, and the scholarships support qualifying residents' education.

Differentiator

Problem solved

Functional benefit

Products and services

• Foresight Affordable Housing Communities (Property Portfolio) A real-estate portfolio of 61 affordable housing properties across 11 states containing more than 4,700 dwelling units, owned, developed, financed, or managed by Foresight Affordable Housing, Inc. for low-income individuals and families, seniors, veterans, and persons with disabilities. Properties range from family communities to age-restricted senior residences and include both one-to-four-bedroom unit mixes and senior/handicap-accessible units.
• Resident Services & Community Programs (Better Tomorrows partnership) Social-service and enrichment programs delivered at Foresight communities in partnership with Better Tomorrows, including on-site social services, computer learning centers, homework clubs, educational and vocational training, GED preparation, budgeting and financial-planning workshops, resume assistance, job training and placement, community advisory boards, transportation assistance, food/clothing donation coordination, and medical wellness clinics.
• Morton Baruch Memorial Scholarship Annual scholarship awarded since 2015 to residents of Foresight apartment communities, in memory of Morton A. Baruch (1928-2014), the first President of Foresight. Three scholarships are awarded each year and added to the amount provided by the Michaels Educational Foundation.
• Morton Schomer Memorial Scholarship Annual scholarship created in 2020 in memory of Morton W. Schomer (1928-2019), longtime Vice President of Foresight. Three scholarships are awarded each year to residents of Foresight apartment communities, in partnership with the Michaels Educational Foundation.
• Foresight Donation Program Tax-deductible donation program supporting Foresight's operational mission to provide affordable housing and resident scholarships. Accepts mailed checks and online contributions via PayPal, credit, or debit card.

Quantifiable outcome

• 61 properties and 4,700+ dwelling units owned, developed, financed, or managed across 11 U.S. states.
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Two partnerships are on record, tiered core and important.

• Michaels Educational FoundationcoreGTM or Marketing Partner · 1 January 2015Foresight Affordable Housing, Inc. has partnered with the Michaels Educational Foundation since 2015 to award annual scholarships to residents of Foresight apartment communities. The foundation identifies recipients from the pool of Foresight residents, with Foresight scholarship funds added to the foundation's award amount. Programs include the Morton Baruch Memorial Scholarship (3 per year, since 2015) and the Morton Schomer Memorial Scholarship (3 per year, since 2020), plus one-time memorial awards.
• Better TomorrowsimportantOthersBetter Tomorrows is a social service non-profit utilized by Foresight to deliver desired resident services at a number of Foresight assets. Through the joint community model, residents gain access to on-site social services departments, computer learning centers, homework clubs, GED programs, budgeting/financial planning workshops, resume assistance, job training and placement, food/clothing coordination, medical wellness clinics, and grant-funded improvements.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Enterprise Community Partners: Major non-profit affordable housing developer and owner operating thousands of units nationwide, with deep LIHTC structuring and on-site resident services programs comparable to Foresight's Better Tomorrows partnership.
• Mercy Housing: National non-profit affordable housing provider operating a similarly large multifamily portfolio for low-income individuals, families, and seniors across the U.S. Comparable in mission, program expertise (LIHTC/HUD), and integrated resident services model.
• NHP Foundation: Non-profit affordable housing organization sponsoring and preserving multifamily LIHTC properties, with similar HUD/LIHTC program focus and resident-services orientation to Foresight.
• BRIDGE Housing: Non-profit affordable housing developer/owner operating multifamily and senior communities across multiple states with integrated resident services — closely comparable in mission and operating model.
• National Church Residences: Non-profit provider of affordable senior housing and services across multiple states, directly comparable to Foresight's age-restricted senior communities (e.g., Pennsville Towers Senior, Esterbrook Senior Residence).
• Michaels Management: Affordable housing property management company founded by E. James Henderson Jr. (current Foresight Vice President), managing LIHTC and HUD properties — directly comparable operating capability to Foresight's portfolio management needs.
• Preservation of Affordable Housing (POAH): Non-profit acquirer and operator of affordable multifamily housing across multiple states, focused on at-risk preservation — comparable to Foresight's rehabilitation/exit-strategy positioning for affordable housing owners.
• Volunteers of America: National non-profit operating affordable and supportive housing for low-income families, seniors, and veterans — overlapping with Foresight's resident segments and HUD-program-driven model.

Broad incumbents

• The Related Companies: Large diversified real estate developer with a meaningful affordable housing arm (Related Affordable), competing for LIHTC allocations and institutional capital in the same market as Foresight.
• WinnCompanies: Large multi-state property manager and developer with a significant affordable housing (LIHTC/HUD) portfolio. Comparable as a scaled operating platform, though structured as a for-profit rather than non-profit.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/foresight-affordable-housing-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Foresight Affordable Housing