What CFY Development Inc does

CFY Development Inc. is a Sacramento, California-based privately held real estate developer founded in 1988 that specializes in acquiring, developing, building, and rehabilitating affordable, multi-family, and workforce housing. Led by President/Owner Cyrus Youssefi with Vice President Ali Youssefi, the firm has completed 31 projects across 19 California cities, representing approximately 3,000 units under management. Individual project sizes range from 10 to 296 units, with development costs spanning $1.8 million to $38.0 million per project. The portfolio is concentrated in affordable housing subtypes, including senior housing (Globe Mills, Poso Place, Galt Place, Tracy Place), family housing (Del Rey, Park Palace, Casa Loma, King Square, Courtyard Village, Hidden Creek, Waterman Square, La Amistad, Nina Place), and single-room occupancy (SRO) communities (The Stockton, Villas de Amistad), and has earned recognition at the local, state, and national levels.

The company's product surface comprises three lines: affordable housing development services, mixed-use development, and mixed-income development. The business model is real estate development fee and ownership economics structured around public-sector financing, including Low-Income Housing Tax Credits, HUD programs, state HCD funds, and direct partnerships with municipalities and housing authorities. The firm operates a sales-led, direct-development GTM with no intermediary channels; counterparties are public agencies across 19 California cities. No proprietary technology, software platform, AI/ML capabilities, or third-party technology integrations are disclosed in the available data.

Since 2002, CFY Development has maintained a continuous Co-General Partner and Co-Developer relationship with Egis Group Inc., led by President/Owner John Cicerone, jointly delivering 1,605 affordable housing units across 17 projects in 12 cities. The firm runs a lean operating model with 1-10 employees and no institutional investor, parent company, or public capital structure disclosed.

Name

CFY Development Inc

Legal name

CFY Development Inc.

Website

https://cfydevelopment.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

1–10 employees

Short description

CFY Development Inc. is a Sacramento-based, privately held real estate developer founded in 1988 that acquires, develops, builds, and rehabilitates affordable, multi-family, and workforce housing across California, with 31 projects in 19 cities and approximately 3,000 units under management.

Ownership category

akta.pro rank

Headquarters

HQ city

Sacramento

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development Services: CFY Development generates revenue through acquiring, developing, building, and rehabilitating multi-family and workforce housing. The company specializes in affordable housing development which typically involves government subsidies, tax credits, and partnerships with municipalities and housing authorities. Development costs range from $1.8 million to $38.0 million per project.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

CFY Development Inc. acquires, develops, builds, and rehabilitates multi-family and workforce housing, with a focus on affordable, mixed-use, and mixed-income communities. The firm's portfolio spans 31 projects across 19 California cities and approximately 3,000 units, with individual project sizes ranging from 10 to 296 units and development costs between $1.8 million and $38.0 million.

Product overview

CFY Development Inc. is a single, unified real estate development company offering community development services. The core offering consists of acquiring, developing, building and rehabilitating multi-family and workforce housing. The company's primary products include Affordable Housing Development Services and Mixed-Use and Mixed-Income Development. The portfolio spans thirty-one projects across nineteen California cities with approximately 3,000 units under management, ranging from 10 units to 296 units with development costs from $1.8 million to $38.0 million.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Housing Development Services End-to-end acquisition, development, construction, and rehabilitation of affordable multi-family and workforce housing for California municipalities, housing authorities, and co-development partners. Portfolio includes 31 projects in 19 cities with approximately 3,000 units under management.
• Mixed-Use and Mixed-Income Development Development services for mixed-use and mixed-income properties combining housing with office/retail components, creating diverse and vibrant California communities (for example, Galt Place in Galt, CA, with senior units plus office/retail space).
• Affordable Housing Co-Development Partnership Joint Co-General Partner and Co-Developer service with Egis Group Inc. for affordable housing projects, having delivered 1,605 units across 17 projects in 12 California cities since 2002.

Segments1 record

Ideal customer profiles2 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.

• Egis Group Inc.coreStrategic or Co-development Partner · 1 January 2002Since 2002, Egis Group Inc. has partnered with CFY Development as Co-General Partner and Co-Developer. The partnership has developed 1,605 units of affordable housing across seventeen projects in twelve cities. Led by President/Owner John Cicerone.

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Mercy Housing: National nonprofit affordable housing developer with a substantial California portfolio of family, senior, and supportive multifamily housing. Comparable in mission, product mix, and reliance on LIHTC and public-finance partnerships.
• BRIDGE Housing Corporation: One of the largest nonprofit developers of affordable and mixed-income housing in California. Highly comparable to CFY Development given shared focus on California-based affordable and workforce multifamily development with municipal and public-finance partnerships.
• The Michaels Organization: National developer, owner, and manager of affordable, workforce, and market-rate housing, with a meaningful California presence. Comparable product mix (multifamily affordable housing) and reliance on tax-credit-financed development.
• EAH Housing: California-based nonprofit affordable housing developer and manager with a large portfolio of multifamily rental properties for families, seniors, and special needs tenants. Directly comparable in geography (California), product type (affordable multifamily), and operating model.
• A Community of Friends: California-based nonprofit developer of affordable and supportive housing for homeless and low-income individuals and families. Comparable California focus, multifamily product, and reliance on public financing mechanisms.
• Affirmed Housing Group: California-focused affordable housing developer building and preserving multifamily rental housing through LIHTC and public partnerships. Directly comparable in geography, product type, and development model.

Broad incumbents

• Lendlease: Global real estate and infrastructure developer with an established U.S. affordable and multifamily housing practice. Competes for similar large California affordable housing opportunities at significantly greater scale.
• The Related Companies: Large national developer with a significant affordable housing practice through Related California. Operates at much greater scale but competes for similar California LIHTC allocations and municipal affordable housing deals.
• Related California: California arm of The Related Companies focused on affordable, mixed-income, and market-rate multifamily development across the state. A larger-scale competitor pursuing the same LIHTC and municipal deals in California.

Regional players

• Essex Property Trust: Multifamily REIT focused on West Coast apartment ownership and operations. While primarily market-rate, Essex overlaps with CFY in California multifamily housing and is relevant for understanding California rent fundamentals that influence affordable housing underwriting.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cfy-development-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 CFY Development Inc