Evergreen Housing Development Group

What Evergreen Housing Development Group does

Evergreen Housing Development Group, LLC is a privately held, founder-led multifamily real estate developer based in Seattle, Washington, operating across Oregon and Washington. Founded in 2005 by Sam and Colleen Gottlieb, the company acquires, develops, rehabilitates, and constructs apartment communities ranging from 59 to 618 units, with portfolio assets spanning market-rate luxury, garden-style, and affordable LIHTC/historic preservation properties. Colleen Gottlieb serves as Co-Founder and CEO, supported by a President, CFO, VP of Real Estate Development, and Directors of Planning/Construction and Operations.

The company's underlying technology is conventional real estate development and construction execution rather than a software or platform stack; differentiation rests on entitlement expertise, LIHTC and historic tax credit structuring, and direct project execution in Pacific Northwest submarkets including Seattle, Bend, Eugene, Kennewick, Richland, Walla Walla, Snoqualmie, and Lake Stevens. Marketing relies on a corporate website with Google Analytics instrumentation; no AI/ML, proprietary software, or platform products are present.

Evergreen operates a hybrid revenue model combining recurring rental income from held-for-portfolio communities with one-time development gains on properties sold to institutional buyers. Revenue mechanics include direct leasing to individual renters at owned assets and disposition sales of stabilized multifamily developments to institutional investors, with affordable housing projects financed via low-income housing tax credits and historic preservation tax credits. The company has co-developed over $1.2 billion in for-sale single and multifamily product over its 20-year operating history, employs 51-100 people, and maintains an active development pipeline including Petra at Larkspur (277 units, Summer 2026 completion) and Havenridge Apartment Homes (195 units, Summer 2027 completion).

Name

Evergreen Housing Development Group

Legal name

Evergreen Housing Development Group, LLC

Website

https://evergreenhd.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Evergreen Housing Development Group is a Seattle-based, founder-led multifamily real estate developer that acquires, builds, and operates apartment communities across Oregon and Washington, using LIHTC and historic tax credits for affordable housing while selling stabilized assets to institutional investors.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), New Housing For-Sale Builders (236117), Residential Building Construction (2361)

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Multifamily housing development
• Affordable housing development
• Tax credit financing
• Apartment community development
• Real estate development

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property Development and Sales: Evergreen develops multifamily apartment communities through acquisition, rehabilitation, and new construction. Properties are either held for long-term ownership or sold to generate revenue. The company uses low-income housing tax credits and historic preservation tax credits to finance affordable housing projects.
2. Rental Income: For properties held in portfolio, Evergreen generates rental income from tenants in their multifamily apartment communities.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Evergreen Housing Development Group acquires, rehabilitates, and constructs multifamily apartment communities across the Pacific Northwest, including both market-rate and affordable housing financed through low-income housing and historic preservation tax credits. The company holds selected properties for long-term ownership and rental operations, while selling other completed developments to institutional investors to realize investment returns.

Product overview

Evergreen Housing Development Group is a multifamily housing development company that creates apartment communities across the Pacific Northwest. The company operates a portfolio of residential communities including active properties under development and management, as well as sold properties. The portfolio comprises distinct named communities including Petra at Larkspur, Havenridge Apartment Homes, The Farmstead at Delta Ridge, Evergreen Village At Delta Ridge, Velo Apartments, The Eddy, The Lodge, Redwood Park, Heron Meadows, Meadow Park, and previously sold communities including 575 Columbia, Ecco Apartments, Evergreen Ridge, Regency Park, Orchard Hills, Outlook At Pilot Butte, The Commons At Pilot Butte, The Woodlands, Windham Apartments, Lowman Building, and Park on 20th Apartments. Communities range from affordable housing developments using low-income housing tax credits to luxury market-rate apartments, with unit counts varying from 59 to 618 units across Oregon and Washington markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Havenridge Apartment Homes A 195-unit garden-style apartment community in Kennewick, Washington located in the Southridge neighborhood. Offers one-, two-, and three-bedroom apartment homes with amenities including a fitness center, resort-inspired pool, spa, and outdoor BBQ areas.
• Evergreen Village At Delta Ridge A 360-unit residential community on 26 acres in Eugene, Oregon offering one, two, and three-bedroom flats and townhomes for rent. Features include swimming pool, clubhouse with indoor and outdoor fireplace, work lounge with Wi-Fi, fitness center, bike storage, dog washroom, and smart parcel lockers.
• Velo Apartments A 93-unit garden-style apartment community in Eugene, Oregon situated along the Willamette River near Maurie Jacobs Park. Offers one and two-bedroom floor plans with features including nine-foot ceilings, washer/dryer, fitness center, clubhouse lounge, bike storage, and dog wash station.
• The Eddy A 141-unit urban apartment community in downtown Bend, Oregon overlooking the Deschutes River. Offers one and two-bedroom apartments with upscale interiors featuring quartz counters, stainless steel appliances, hardwood-style plank floors, and amenities including controlled access, garage parking, EV charging stations, bike storage, and 24/7 fitness center.
• The Lodge A five-story, 137-unit apartment building in downtown Walla Walla, Washington featuring a variety of floorplans ranging from urban one-bedroom to one and two-bedroom homes, plus 1,600 square feet of commercial space. Amenities include 24/7 fitness center, bike parking, storage units, and smart parcel locker system.
• Redwood Park A 232-unit affordable rental apartment community in Eugene, Oregon originally built in 1978 and rehabilitated using low-income housing tax credits. Offers studio, one and two-bedroom apartments with updated kitchens and baths, park-like grounds, community gardens, clubhouse with lounge, fitness center, BBQ, and children's play area; targeted to households earning up to 60% of area median income.
• Heron Meadows A 300-unit apartment community in West Eugene, Oregon offering one, two and three bedroom floor plans with fully equipped kitchens, washer and dryer, and balcony or patio. Amenities include swimming pool and spa, fitness center, racquetball court, business center, Wi-Fi café, playground, and car wash facility.
• Meadow Park A 155-unit affordable apartment community in Kennewick, Washington originally a 1970s garden court property that was rehabilitated using low-income housing tax credits. Offers one and three-bedroom homes with updated kitchens and bathrooms, hardwood-style flooring, community pool, and children's play area.
• 575 Columbia A 94-unit apartment community in Richland, Washington's Columbia Point waterfront area overlooking Columbia Point Golf Course and marina. Offers one and two-bedroom residences with quartz countertops, nine foot ceilings, soaking tubs, hardwood-style plank flooring, stainless steel appliances, and resort-style pool and fitness center. Sold in 2018.
• Ecco Apartments An upscale 192-unit apartment community in North Eugene, Oregon built in 2014 near the University of Oregon and downtown. Features sleekly-designed interiors with granite surfaces, plank-style flooring, nine foot ceilings, deck or balcony, and complete appliance package. Amenities include great room lounge, outdoor room with grilling area, pool, game room, fitness center, playground, dog park, and bike storage. Sold in 2016.
• Evergreen Ridge A 98-unit apartment community in Richland, Washington situated riverside in the Tri-Cities with spectacular views of the Columbia River, marina and on-site pool. Offers one and two-bedroom homes with premium finishes like quartz countertops and stainless steel appliances, plus decks for enjoying views. Includes 24/7 fitness center and adjacent Columbia River Trail. Sold in 2021.
• Regency Park A 228-unit apartment community in Richland, Washington situated on eight acres of park-like grounds with resort-style pool and spa, exercise facility, fireplace lounge, theater and garage parking. Offers studios, one, two, and three-bedroom floorplans with mountain views, granite countertops, nine foot ceilings, plank-style flooring and air conditioning. Built in two phases in 2009 and 2011. Sold in 2021.
• Orchard Hills A 142-unit affordable tax credit apartment community in Richland, Washington acquired in 2015. Offers one, two, three and four bedroom floor plans with fully equipped kitchen, generous closets, washer and dryer connections, and balcony or patio. Amenities include three swimming pools, clubhouse, fitness center, business center, basketball court, playground, and grilling area. Sold in 2017.
• Outlook At Pilot Butte A 205-unit luxury apartment community in Bend, Oregon at the base of Pilot Butte State Park offering studio, one and two-bedroom apartments with high-end design, finishes, and appliances. Features include controlled access entries, air conditioning, elevator service, 24/7 fitness facility, resident lounge, covered bicycle parking, and outdoor patio. Completed in 2016. Sold in 2020.
• The Commons At Pilot Butte A 204-unit residential community in Bend, Oregon purchased in 2015 and ideally located next to Pilot Butte State Park. Offers one, two, and three-bedroom apartments with patios and decks, eating bar, washer/dryer, hardwood-style plank flooring. Community amenities include covered and garage parking, fitness center, sauna, fireplace lounge, and outdoor picnic areas. Sold in 2016.
• The Woodlands A mix of 100 two and three bedroom townhomes and single-level apartments in Snoqualmie Ridge, Snoqualmie, Washington. Features condominium quality interior finishes with forest, mountain, or water views. Amenities include children's playground, resident clubhouse with fireplace lounge, 24/7 fitness center, and garage parking. Sold in 2018.
• Windham Apartments A historic seven-story, 59-unit apartment building in Seattle's Belltown neighborhood acquired in 2007. Provided affordable urban housing using tax credits for low-income housing and historic preservation while maintaining original elegant entry and brick facade. Studios and one-bedroom apartments updated with new kitchen and technology wiring while preserving original hardwood flooring and mill work. Sold in 2019.
• Lowman Building A 10-story mixed residential/retail building in Seattle's historic Pioneer Square neighborhood acquired in 2005. Formerly an office tower converted to 89 affordable housing units and street-level retail using low-income housing and historic preservation tax credits. Studios range from 355 to 586 square feet with contemporary kitchens, nine-foot ceilings, hardwood-style plank flooring and technology wiring. Sold in 2019.
• Park on 20th Apartments A 195-unit apartment community in Lake Stevens, Washington featuring urban one bedroom to one, two, and three bedroom floor plans. Offers resident clubhouse with fitness center, outdoor fire pits and grilling area, and community planting garden. Project completed in Fall 2021 and sold in 2022.
• The Farmstead at Delta Ridge A 618-home vibrant community in Eugene, Oregon along the scenic Willamette River offering one-, two-, and three-bedroom apartments in a mix of cottages, townhomes, and flats. Completed in 2025 with amenities including pool and spa, outdoor fire pits, BBQ areas, bocce and pickleball court, and clubhouse with fitness center.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Bend-Redmond Habitat for HumanityminorStrategic or Co-development Partner · 3 May 2023Evergreen Housing donated a lot to Bend-Redmond Habitat for Humanity to support affordable workforce housing development in the Bend, Oregon area.

Scale indicators4 records

Recent moves3 records

Expansion highlights4 records

Direct peers

• BRIDGE Housing: Mission-driven multifamily developer with deep West Coast operations including the Pacific Northwest. Closely comparable to Evergreen for its affordable and mixed-income multifamily development model using LIHTC and other public financing sources.
• The NRP Group: National multifamily developer specializing in affordable, workforce, and market-rate housing using LIHTC and tax-exempt bonds. Comparable to Evergreen in its reliance on low-income housing tax credits, mixed-income product type, and multifamily focus, though at significantly larger scale.
• Mercy Housing: National nonprofit affordable housing developer with active operations across multiple states including the West Coast. Comparable to Evergreen in its focus on affordable multifamily development using LIHTC financing, though structured as a nonprofit rather than for-profit.
• Security Properties: Seattle-headquartered multifamily real estate investment and development firm focused on the Pacific Northwest. Comparable to Evergreen as a regional multifamily developer-investor with a similar geographic footprint in Washington and Oregon and a mix of market-rate and affordable housing.
• Annex Group: Multifamily developer specializing in affordable housing using LIHTC and historic tax credits across multiple states. Comparable to Evergreen for its dual tax-credit expertise and similar unit-count scale of development projects.
• URC (Urban Renaissance Group): Portland-based real estate development company focused on urban multifamily and mixed-use projects in Oregon and Washington. Direct comparable to Evergreen in geographic footprint, multifamily product type, and Pacific Northwest market focus.
• Dominium Development: Affordable housing developer specializing in LIHTC-financed multifamily projects, including historic tax credit adaptive reuse. Comparable to Evergreen for its reliance on LIHTC and historic credits and similar mid-market multifamily development approach.

Regional players

• Cascade Management: Pacific Northwest-headquartered property management and development firm with multifamily portfolio across Oregon and Washington. Comparable to Evergreen in regional focus and multifamily exposure, though more weighted toward property management operations.
• Capstone Real Estate Services: Pacific Northwest-focused real estate services and investment firm with multifamily activity. Comparable to Evergreen in regional focus and mid-market multifamily exposure, though oriented more toward property management and brokerage than ground-up development.

Broad incumbents

• The Related Companies: One of the largest US multifamily developers with a substantial affordable housing arm (Related Affordable). Comparable to Evergreen in its mixed-income, tax-credit-financed multifamily approach but operates at vastly greater scale and geographic breadth.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/evergreen-housing-development-group-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Evergreen Housing Development Group