AVE by Korman Communities

What AVE by Korman Communities does

AVE by Korman Communities operates a portfolio of 22 residential apartment communities across 10 major US metropolitan markets, delivering two distinct product lines under a single operating brand. The core offering comprises luxury unfurnished apartments leased on traditional 12-month terms for long-term residents seeking resort-style amenities, alongside fully furnished apartments available for flexible stays of 30 days or longer that target corporate relocations, business travel, and individuals in life transitions. All amenities and services (high-speed WiFi, 24/7 fitness centers, business lounges, pet accommodations without breed or weight restrictions, and on-call maintenance) are bundled into the rent with no separate amenity fees, supported by dedicated on-site service teams and a resident referral program branded AVEocate.

The underlying platform combines a direct-leasing website (aveliving.com) featuring virtual tours and live chat, corporate housing account management for enterprise clients, and an AVE Connect virtual lifestyle site launched during COVID-19 for resident programming. Technology is operational rather than differentiated: the stack integrates Google Maps for property location, live chat for remote leasing, and digital content marketing (215+ blog articles) rather than proprietary AI, ML, or data models. Properties span mid-rise, high-rise, and garden-style formats — including historic assets such as The Franklin Residences (built 1923) and new high-rise deliveries in Phoenix, Denver, and Tampa — concentrated geographically in premium Sun Belt, Northeast corridor, and tech-anchored metros (Silicon Valley, Austin).

Monetization is predominantly subscription-recurring through monthly rental payments, with structured corporate housing contracts providing enterprise clients flexible terms starting at 30 days, and ancillary revenue from the resident referral program. AVE is a division of Korman Communities, a privately held family-owned entity under SHK Management, Inc., with Lea Anne Welsh serving as President of AVE and COO of Korman Communities. Growth has been funded organically across multiple metro expansions, with two additional properties (Denver's RiNo district and suburban Philadelphia's Horsham) slated for 2028 opening. Industry recognition includes four consecutive years (2023-2026) as Grace Hill's #1 Property Management Company alongside CHPA, Kingsley, Cartus, BGRS, and AIRES awards for corporate housing excellence.

Name

AVE by Korman Communities

Legal name

AVE by Korman Communities

Website

https://aveliving.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

AVE by Korman Communities is a private hospitality operator running 22 residential apartment communities across 10 US metros, offering luxury unfurnished 12-month leases and fully furnished flexible-stay apartments of 30+ days for corporate relocations, business travelers, and individuals in life transitions.

Ownership category

akta.pro rank

Product category

Serviced Apartments / Corporate Housing

NAICS

Residential Property Managers (531311), Accommodation (721)

SIC

Operators Of Apartment Buildings (6513), Hotels & Motels (7011)

akta.pro primary industry

Corporate Extended-Stay Housing (Relocation & Project-Based) (THAMAFAA)

akta.pro secondary industries

Corporate Housing Property Management (Owner-Managed / Third-Party) (THAMAHAJ), Furnished Monthly Apartments (Urban/Residential) (THAMAFAB), Furnished Corporate Apartments (Urban, Mid-Rise) (THAMAHAG), Temporary Housing & Corporate Housing Management (HSAKAJAD), Extended-stay serviced apartments (weekly/monthly) (THAMACAD)

Keywords

• Corporate housing services
• Flexible stay apartments
• Extended stay rentals
• Luxury apartment rentals
• Serviced apartment living

Headquarters

HQ city

Clifton

HQ country

United States

HQ region

North America

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain, Technology or R&D

Revenue model

1. Monthly Apartment Rent: Core revenue from monthly rental payments for both furnished and unfurnished luxury apartments across 22 properties.
2. Corporate Housing Contracts: Furnished extended-stay accommodations for corporate clients, business travelers, and relocating employees with flexible terms starting at 30 days.
3. Resident Referral Program: Referral credits earned by existing residents who refer new tenants, driving lease signings.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

AVE by Korman Communities owns and operates 22 residential apartment communities across 10 US metropolitan areas, offering two primary product lines: unfurnished Luxury Apartments on 12-month leases and fully furnished Furnished Apartments for flexible stays of 30 days or longer. A dedicated Corporate Housing program provides furnished extended-stay accommodations for business travelers, relocating employees, and HR departments, with flexible lease terms starting at 30 days.

Product overview

AVE by Korman Communities operates a portfolio of 22 residential apartment communities across the United States offering two primary product lines: Luxury Apartments (unfurnished units with 12-month lease terms where residents personalize with their own furnishings) and Furnished Apartments (fully furnished units for flexible stays of 30 days or longer, ideal for corporate housing and relocations). The company provides resort-style amenities, professional workspace services, wellness facilities, and high-touch resident services as part of its elevated apartment living experience. Properties span 11 metropolitan markets including Northern New Jersey (4 properties), Phoenix AZ (3), Suburban Philadelphia PA (5), Philadelphia PA (3), Austin TX (1), Irving/Dallas TX (1), Denver CO (1, opening 2028), Silicon Valley CA (1), Tampa FL (1), and White Plains NY (2). The portfolio includes mid-rise, high-rise, and garden-style communities serving both long-term renters and short-term flexible-stay guests.

Differentiator

Problem solved

Functional benefit

Brands

• Luxury Apartments: Unfurnished apartments with 12-month lease terms, personalized with resident furnishings for discerning renters seeking carefree living.
• Furnished Apartments
• Blue Bell Villas
• The Franklin Residences

Products and services

• Luxury Apartments
• Furnished Apartments
• Corporate Housing Program

Named customers5 records

Segments5 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

Feature5 records

Partnerships

14 partnerships are on record, tiered minor and core.

• Children's Hospital of Philadelphia (CHOP)minorStrategic or Co-development Partner · 1 April 2021AVE King of Prussia furnished dining igloos during KOP Restaurant Week and helped raise $12,000 for CHOP. Collected toys for hospital patients during holiday drives. Total CHOP contribution from 2021 Restaurant Week was $12,000 of the $68,484 total raised.
• WegmansminorStrategic or Co-development Partner · 1 August 2018Partnered with Wegmans during the Red Cross blood drive at AVE King of Prussia, with Wegmans providing complimentary snacks and beverages for donors and meals for Red Cross volunteers.
• Move For HungercoreStrategic or Co-development PartnerAVE has partnered with Move For Hunger for over 10 years to reduce food insecurity in local communities. Activities include food drives, holiday food donations, and the Little Words Project bracelet collaboration where 25% of net profits support Move For Hunger. The partnership has raised over $17,000 in recent campaigns and collected thousands of pounds of food donations.
• Corporate Housing Providers Association (CHPA)coreStrategic or Co-development PartnerAVE is accredited by the Corporate Housing Providers Association, the industry organization setting standards for corporate housing providers.
• Career WardrobeminorStrategic or Co-development PartnerAVE has held four professional clothing drives organized by Senior Leasing Manager Diane Miller since October 2017, donating over 6,000 articles of clothing. Team members volunteer monthly at the Donation Center to help with merchandising and outfitting clients. AVE sponsored Hope's Night Out event raising over $80,000.
• Little Words ProjectminorStrategic or Co-development PartnerCollaboration created a custom 'LIVE BETTER' bracelet with 25% of net profits donated to Move For Hunger. Founding member Mariah Grippo is an AVE Somerset resident. The partnership combines AVE's flexible living mission with Little Words Project's kindness movement.
• Grace HillcoreStrategic or Co-development PartnerAVE was named #1 Property Management Company at the Grace Hill Excellence Awards for four consecutive years based on resident satisfaction scores.
• KingsleycoreStrategic or Co-development PartnerAVE won the Kingsley Excellence Award for property management and resident satisfaction excellence.
• CartuscoreChannel Partner/ Reseller/ DistributorAVE received the Cartus Silver Innovation Award and Korman Communities received Cartus Platinum recognition for corporate relocation and housing services.
• BGRScoreChannel Partner/ Reseller/ DistributorKorman Communities was honored with Service Excellence Award by BGRS for outstanding relocation services.
• American Red CrossminorStrategic or Co-development PartnerAVE King of Prussia hosted a blood drive meeting its goal of collecting 30 units of blood, which helps up to 90 people. Partnered with Wegmans for complimentary refreshments for donors.
• Local Animal SheltersminorStrategic or Co-development Partner5th Annual 'AVE is PAWsome' campaign partnered with multiple local animal shelters including Brick City Rescue, St. Hubert's Animal Welfare Center, Arizona Humane Society, Morris Animal Refuge, and SNARR Northeast Rescue. Raised $1,050 and collected 90 donation boxes of pet supplies.
• MANNAminorStrategic or Co-development PartnerKorman Communities founder Steven H. Korman is a longtime supporter. The 4th Annual Steven H. Korman Day of Caring involved team members volunteering in the MANNA kitchen. The new facility is named The Steven Korman Nutrition Center. MANNA provides medically tailored meals to people battling life-threatening illnesses.
• AIREScoreStrategic or Co-development PartnerAVE received the AIRES Circle of Excellence Award recognizing excellence in the corporate housing and relocation industry.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kasa Living: Kasa operates a tech-enabled network of furnished apartments and hotels for business and leisure travelers seeking flexible stays. It competes with AVE in urban markets with modern, professionally managed furnished units and digital booking.
• Sonder (now part of Marriott): Sonder operates tech-enabled furnished apartments and short-stay units across major US cities. After its 2024 transaction with Marriott, it competes with AVE in the flexible-stay furnished apartment segment with stronger digital booking and brand reach.
• Blueground: Blueground operates a global platform of fully furnished apartments for monthly stays, targeting business travelers and relocating professionals. It is the most direct tech-enabled competitor to AVE's furnished flexible-stay offering across major US markets.
• Landing: Landing offers flexible-stay furnished apartments on a membership model allowing members to move between cities. It targets the same digital nomad, relocation, and life-transition segments that AVE serves through its furnished apartment product.
• Churchill Living: Churchill Living provides fully furnished extended-stay apartments for corporate housing and relocation clients across the US. It is a direct peer to AVE in furnished corporate housing with a similar B2B channel go-to-market.
• Furnished Quarters: Furnished Quarters is a long-standing corporate housing and serviced apartment provider offering furnished apartments for 30+ day stays. It overlaps directly with AVE's furnished and corporate housing product line and serves a similar enterprise/relocation customer base.
• National Corporate Housing: National Corporate Housing is a national corporate housing and furnished apartment provider serving relocating employees and corporate clients. It is a direct competitor to AVE's corporate housing division with similar B2B channel partnerships.
• Oakwood (Oakwood Worldwide, part of Marriott): Oakwood is one of the largest global serviced apartment and corporate housing brands, now part of Marriott. It directly competes with AVE in the furnished extended-stay and corporate relocation segments across major US metros.

Broad incumbents

• Residence Inn by Marriott: Residence Inn is Marriott's flagship extended-stay hotel brand offering suites with kitchens for 5+ night stays. It overlaps with AVE's furnished apartment offering for extended-stay corporate and relocation travelers but is part of a much broader Marriott portfolio.
• Staybridge Suites (IHG): Staybridge Suites is IHG's extended-stay hotel brand offering apartment-style suites for weekly and monthly stays. It serves overlapping corporate housing and relocation demand as AVE but operates a hotel model rather than apartment communities.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/aveliving
• Facebookfacebook.com/aveliving
• LinkedInlinkedin.com/company/729043
• Instagraminstagram.com/aveliving

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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 AVE by Korman Communities