What NewHeight Group does

NewHeight Group is a privately held, Maine-based real estate development firm founded in 2004 by Chip Newell and headquartered at 97a Exchange St. in Portland's East End neighborhood. The company develops and sells high-quality residential condominium projects, with completed Portland, Maine projects including 118 on Munjoy Hill (2015, 12 condos), Luminato (2017, 24 condos), and Verdante at Lincoln Park (2021, 29 condos). Its core technical methodology uses steel-and-concrete construction rather than conventional wood framing, enabling column-free interior spaces, oversized windows, and customizable floor plans — most notably 23 unique floor plans across 29 units at Verdante. The firm also pursues historic adaptive-reuse development, with prior Washington, DC projects including Lofts 14 (winner of the 2003 Best Adaptive Re-Use Award), Lofts 14 Two, Langston Lofts, and Cooper Lewis Condominiums developed under predecessor entity Metropolis Development Company.

The company operates with a four-person principal team: Chip Newell and Erin Cooperrider (Principals), Greg Pomerleau (Director of Development), and Emily McConnell (Director of Sales & Marketing). Its business model combines two revenue streams: (1) one-time sales of completed condominium units to end buyers, with pricing varying materially by unit (historical comparables range from ~$250K to $1.4M depending on project and unit type); and (2) fee-based development advisory services for real estate owners, lenders, investors, developers, municipalities, and NGOs covering feasibility analysis, financing structuring, marketing, and construction loan workout. Customer segments include market-rate residential condo buyers, workforce/affordable housing seekers (via a 2017 partnership with Community Housing of Maine for inclusionary zoning units maintained at affordable rents for 99 years), and institutional consulting clients. Distribution is direct-to-buyer for condos and direct B2B for consulting; the company does not retain rental assets or pursue a subscription/REIT model.

Name

NewHeight Group

Legal name

NewHeight Group

Website

https://newheightgroup.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

NewHeight Group is a privately held Portland, Maine-based real estate developer building small-scale, high-quality steel-and-concrete residential condominium projects, primarily serving market-rate and workforce housing buyers in the Portland East End market.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

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

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Real estate development
• Condominium development
• Adaptive reuse construction
• Mixed-use development
• Construction consulting

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development Sales: Development and sale of residential condominiums in Portland, Maine. Revenue generated from property sales to end buyers including market-rate condos and workforce housing units.
2. Development Services: Advisory and consulting services for real estate owners, lenders, investors, and developers. Services include project feasibility analysis, financing structuring, marketing programs, and workout terms for construction loans.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

NewHeight Group develops and sells high-quality residential condominium projects in Portland, Maine (118 on Munjoy Hill, Luminato, Verdante at Lincoln Park) and adaptive-reuse loft projects in Washington, DC, using steel and concrete construction for column-free, customizable floor plans. The firm also provides advisory and consulting services—including project feasibility analysis, financing structuring, marketing programs, and construction-loan workout terms—to real estate owners, lenders, investors, developers, municipalities, and NGOs.

Product overview

NewHeight Group is a Maine-based real estate development firm offering a portfolio of residential condominium projects. The company's core offerings include market-rate condominiums in Portland, Maine (118 on Munjoy Hill, Luminato, and Verdante at Lincoln Park) and historic adaptive reuse loft projects in Washington, DC (Lofts 14, Lofts 14 Two, Langston Lofts, and Cooper Lewis Condominiums). The portfolio spans affordable workforce housing to luxury urban residences, with services including development, acquisition, design, financing, and construction management. Projects feature amenities such as fitness rooms, rooftop terraces, guest rooms, and customizable floor plans.

Differentiator

Problem solved

Functional benefit

Products and services

• 118 on Munjoy Hill Twelve condominiums and two retail spaces at the top of Munjoy Hill in Portland, Maine, with four floor plans featuring open living areas, large outdoor decks, and functional kitchens; for individual residential buyers and ground-floor retail tenants.
• Luminato 24-unit residential building with 1–3 bedroom condos in Portland's India Street neighborhood, including a fitness room, guest room, lounge, and rooftop terrace with 270-degree views; for urban professionals, downsizers, and first-time buyers. Project sold out four months before construction completion.
• Verdante at Lincoln Park 29-unit condominium building on Lincoln Park in Portland's East End, with 1–3 bedroom units, many with dens and private decks, and shared amenities including fitness room, guest room, and shared deck; built with steel and concrete for column-free spaces and 23 unique floor plans. Project has sold out.
• Lofts 14 Adaptive-reuse transformation of historic 1920s automobile showrooms in Washington, DC into 85 loft residential units with 19-foot ceilings, original limestone facades, exposed masonry, and 37 unique floor plans; sold out and winner of the 2003 Best Adaptive Re-Use Project Award.
• Lofts 14 Two

Quantifiable outcome

• All 24 Luminato condos sold four months before construction completion with 100% of buyers committing before seeing the finished units
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Community Housing of Maine (CHOM)coreStrategic or Co-development Partner · 1 January 2017Non-profit affordable housing developer partnership where NewHeight Group sold a building in Portland's East End to CHOM at a discounted price. CHOM provides equity for acquisition and rehabilitation and maintains rents at affordable levels for 99 years to satisfy Inclusionary Zoning ordinance requirements.
• CEI, Inc.coreOthersErin Cooperrider serves on board of directors of 30 FSI, a subsidiary of CEI, Inc., a state historic tax credit investor. Chip Newell serves on board of CEI and CVI. Long-standing relationship with Maine's community development financial ecosystem.
• Federal Home Loan Bank of BostonminorStrategic or Co-development PartnerErin Cooperrider currently chairs the Federal Home Loan Bank of Boston's Advisory Council, providing strategic guidance on housing finance issues affecting the region.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• AvalonBay Communities: Public REIT developing, acquiring, and operating multifamily housing in high-barrier U.S. coastal markets including New England. Overlaps with NewHeight's Portland East End thesis on supply-constrained coastal infill, but operates a for-rent portfolio at much larger scale.
• Skanska USA Commercial Development: Developer-builder of commercial and residential real estate in U.S. urban markets, including multifamily and mixed-use. Comparable integrated design-build model and urban infill focus, but operates at city-block scale rather than boutique condo scale.
• Toll Brothers: National luxury for-sale homebuilder with active city-infill condominium division. Closest large-cap analog to NewHeight's premium-pricing, design-forward for-sale residential strategy, but with national scale, public-market capital, and a much broader product range.
• Lendlease: International developer of mixed-use, residential, and urban regeneration projects with a U.S. business spanning apartments, condos, and master-planned communities. Comparable on integrated development plus construction management, though with global capital and scale.
• The Related Companies: Large mixed-use and affordable-to-luxury residential developer with a national footprint. Comparable to NewHeight on integrated design-build execution and mixed-income product, but operates at city-scale (e.g., Hudson Yards, The High Line).
• Greystar Real Estate Partners: Global leader in multifamily development, investment, and property management. Comparable to NewHeight on residential development execution and operational intensity, but at vastly larger scale and primarily in the rental (not for-sale condo) segment.

Direct peers

• The Community Builders: Non-profit developer of mixed-income housing in the Northeast and Midwest. Comparable mission overlap with NewHeight's workforce-housing partnership work and shared reliance on low-income housing tax credits and historic tax credits as financing layers.
• NRP Group: Vertically integrated developer, builder, and property manager of market-rate and affordable multifamily housing. Closely comparable to NewHeight's mixed market-rate/workforce-housing model via partnerships with non-profits and public agencies.
• Wood Partners: National multifamily developer building Class A for-rent and for-sale residential communities in supply-constrained U.S. markets. Comparable to NewHeight in that they develop mid-rise residential product in tight urban submarkets, though at materially greater scale and capital intensity.
• Community Housing of Maine (CHOM): Maine-based non-profit affordable housing developer and NewHeight's existing partner on the Luminato inclusionary-zoning deal. Directly comparable mission-overlap (workforce housing) and similar Maine geography, and a likely co-development counterparty on future inclusionary projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/newheightgroup
• LinkedInlinkedin.com/company/newheight-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 NewHeight Group