Housing Development Corporation

What Housing Development Corporation does

Housing Development Corporation (HDC) is a 501(c)(3) nonprofit real estate company founded in 1988 and headquartered in Decatur, Georgia. It serves as the development and acquisition arm of the Housing Authority of DeKalb County (HADC), a government housing authority. HDC acquires, develops, and manages affordable and workforce multi-family and single-family housing — primarily for seniors (55+/62+) and low-to-moderate-income families — across DeKalb County and the State of Georgia. The portfolio has grown from 12 units in 2011 to more than 2,500 affordable housing units owned and/or managed, spanning 15+ operating communities including Brookleigh, Village at Mills Creek, Starnes Senior Residences, Sterling at Candler Village, Brightstone, Abbington Reserve, Peachtree Creek on Ponce, and Phoenix Station.

HDC's underlying technology is conventional affordable housing development and asset management rather than a software platform. The company builds to sustainable standards (EarthCraft Communities or LEED, Energy Star appliances, LED lighting, smart-home-ready infrastructure) and structures complex mixed-finance deals using HUD's Rental Assistance Demonstration (RAD) program, 9% and 4% Low Income Housing Tax Credits (LIHTC), tax-exempt bonds, HOME funds, and other government subsidies. Its proprietary internal capabilities include CORES-certified resident services coordination, transit-oriented master development (e.g., the ARG-Kensington partnership with MARTA), and a wholly-owned property management subsidiary (HDC Management, LLC) that provides market assessment, lease-up, asset preservation, financial management, and compliance services to its own portfolio and to third-party owners.

HDC's revenue model blends recurring rental income from owned affordable and workforce housing (priced at 50-100% AMI), managed services fees from HDC Management, development fees from tax-credit partnerships, and consulting services for housing authorities. Distribution is direct via property management operations and indirect via HUD programs (RAD, Housing Choice Vouchers, Project-Based Vouchers) and Georgia Housing Search referrals. Customer segments are households (seniors and families) seeking affordable housing, alongside institutional partners including HADC, HUD, the Georgia Department of Community Affairs, DeKalb County, and private developers.

Name

Housing Development Corporation

Legal name

Housing Development Corporation

Website

https://housingdevelopmentcorp.org

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Housing Development Corporation is a 501(c)(3) nonprofit real estate developer and property manager affiliated with the Housing Authority of DeKalb County, developing and managing 2,500+ affordable and workforce housing units across 15+ senior and family communities in Georgia.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Residential Building Construction (2361), Residential Property Managers (531311), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH), Affordable Housing Property Management (BPAJAGAJ), Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO)

Keywords

• Affordable housing development
• Property management services
• Workforce housing
• Multifamily development
• Real estate consulting

Headquarters

HQ city

Decatur

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Affordable Housing Rental Income: HDC generates rental income from owned affordable and workforce housing properties including senior communities, family communities, and mixed-income developments. Rents are set based on Area Median Income (AMI) levels, typically ranging from 50% to 100% AMI for affordable units.
2. Property Management Services: HDC Management subsidiary provides property management services to HDC and affiliates, private developers, and public/private institutions including market assessment, lease-up, asset preservation, financial management, and compliance services.
3. Tax Credit and Bond Financing: Revenue derived from tax credit partnerships (9% and 4% LIHTC), tax-exempt bonds, HOME funds, and other government financing programs used to fund development and renovation projects.
4. Development Consulting Services: Consultant services provided to housing authorities and other affordable and workforce housing developers for project pre-development analysis, financial feasibility, entitlement processes, and construction management.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Housing Development Corporation is a nonprofit real estate company that specializes in revitalizing neighborhoods through the acquisition, development, and management of affordable and workforce housing, including multi-family and single-family homes for seniors and families. The company operates two core divisions: a Development arm that delivers pre-development analysis, site design, financial feasibility, entitlement, construction management, and real estate services, and HDC Management, which provides market assessment, lease-up, asset preservation, financial management, compliance, and resident services coordination across its 15+ owned/managed communities in Georgia.

Product overview

Housing Development Corporation (HDC) is a nonprofit real estate company that offers a comprehensive portfolio of housing products and services. The core offerings include Multi-Family Housing Development (acquisition, development, and management of affordable and workforce apartment communities for seniors, active adults, and families) and Single-Family Housing Development (for-sale homes and townhomes across market-rate and affordable segments). The company operates through two main divisions: Development Services (including pre-development analysis, site design, financial feasibility, entitlements, construction management, and real estate services) and HDC Management Property Management Services (including market assessment, lease-up, asset preservation, financial management, and compliance). The portfolio includes branded community sub-products such as Brookleigh (56-acre multi-phase mixed-use development in DeKalb County with Ashford Parkside, Ashford Landing, and HearthSide Brookleigh senior communities), Village at Mills Creek (55-acre master planned community with Reserve at Mills Creek, Mills Creek Crossing, and Retreat at Mills Creek), and individual developments including Starnes Senior Residences, The View, Brightstone, Sterling at Candler Village, Manor at Indian Creek II, Abbington Reserve, Peachtree Creek on Ponce, Phoenix Station, and single-family communities like Blackburn Row, Eastside Walk, and Santa Monica.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Family Affordable and Workforce Housing Development Acquisition, development, and management of multi-family affordable and workforce housing communities, including senior independent living, active adult, and family apartment communities financed through LIHTC, tax-exempt bonds, RAD, and HOME funds.
• Single-Family Housing Development Development of single-family homes and townhomes for affordable and market-rate homeownership, including subdivisions like Blackburn Row, Eastside Walk, and Santa Monica.
• HDC Management Property Management Services Subsidiary providing property management services including market assessment, lease-up, stabilization, asset preservation, financial management, compliance tracking, and resident services programs for workforce, mixed-finance, affordable housing, and independent senior living communities.
• Development Consulting Services for Housing Authorities Consultant services for housing authorities and other affordable housing developers including project pre-development analysis, site utilization and design, financial feasibility analysis, entitlement and governmental approval, infrastructure development, and construction management / owner representation.

Quantifiable outcome

• Grown from 12 units in 2011 to 2,500+ affordable housing units owned and/or managed
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered core, major and minor.

• Metropolitan Atlanta Rapid Transit Authority (MARTA)coreStrategic or Co-development Partner · 1 February 2024MARTA ground-leased 4.37 acres of land at the Kensington MARTA station to HADC for development of ARG-Kensington Development, a transit-oriented master development featuring 74-unit senior community, 185-unit family community, 15,000 sq ft office space, and 375-space parking deck.
• Housing Authority of the County of DeKalb (HADC)coreStrategic or Co-development Partner · 1 February 2024HADC and HDC partnered together for the ARG-Kensington Development. HADC, as owner, ground-leases land from MARTA and partners with HDC for development and HDC Management for property management. HDC is the nonprofit real estate and acquisition arm of HADC.
• Affiliated Resources GroupcoreStrategic or Co-development Partner · 1 February 2024Affiliated Resources Group is the parent organization encompassing HDC, HADC, Resident Services Corporation, and PTS Consulting Group. Companies of Affiliated Resources Group will occupy the 15,000 sq ft office space component of the ARG-Kensington Development.
• Stewards of Affordable Housing for the Future (SAHF)coreOthers · 1 May 2022SAHF is a nonprofit collaborative of exemplary multi-state nonprofit affordable housing providers which serves as the CORES certifying entity. The CORES Certification unlocks partnerships, funding, and financing including Fannie Mae's Healthy Housing Rewards program.
• LDG DevelopmentmajorStrategic or Co-development Partner · 1 January 2022Partnership for Phoenix Station, a 244-unit new construction mixed-use family development across from the Kensington MARTA Station.
• Prestwick ConstructionmajorImplementation/ SI/ Consulting Partner · 1 January 2021Builder for Starnes Senior Residences, a 128-unit new construction senior community in Clarkston, Georgia.
• REA VenturesmajorStrategic or Co-development Partner · 1 January 2020Partnership for Abbington Reserve, a 238-unit new construction family development in south DeKalb County. HADC was Co-General Partner and Co-Developer.
• Blue Ridge Atlantic DevelopmentmajorStrategic or Co-development Partner · 1 January 2020Partnership for Peachtree Creek on Ponce, a 188-unit new construction development in Clarkston. HADC is Co-General Partner and Co-Developer.
• Prestwick Development CompanymajorStrategic or Co-development Partner · 1 January 2018Partnership for Brightstone (Hillandale), a 175-unit senior community, and Manor at Indian Creek II, a 94-unit senior community. HADC is Co-General Partner and Co-Developer.
• The Benoit GroupmajorStrategic or Co-development Partner · 1 January 2017Partnership for Sterling at Candler Village, a 170-unit senior community. HADC is Co-General Partner and Co-Developer with financing through tax-exempt bond, 4% LIHTC, and DeKalb County HOME transactions.
• The Housing GroupminorStrategic or Co-development Partner · 1 January 2017Partnership for Enclave at Eastside Walk, the final phase of 20-plus lots in the Eastside Walk single-family development.
• Georgia Piedmont Technical College FoundationminorStrategic or Co-development Partner · 1 January 2017Starnes Senior Residences is located adjacent to the Georgia Piedmont Technical College Foundation's Starnes Center, providing educational partnership opportunities.
• DeKalb CountycoreStrategic or Co-development Partner · 1 January 2017DeKalb County provides HOME funds, community development support, and is partner in Community Transformation Plan for neighborhoods surrounding Village at Mills Creek and Spring Chase communities.
• Beverly J. Searles FoundationcoreStrategic or Co-development Partner · 1 January 2016Co-developer partner on multiple HDC projects including The View, Starnes Senior Residences, and other affordable housing developments.
• Intown Renewal DevelopersminorChannel Partner/ Reseller/ Distributor · 1 January 2012Builder partner for Phase 3 of Eastside Walk single-family development, building new construction homes on remaining lots.
• PATH FoundationminorStrategic or Co-development Partner · 1 January 2010PATH Foundation multipurpose trail runs through Brookleigh development, connecting the community to Blackburn Park, Murphy Candler Park, and other destinations throughout metro Atlanta.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Preservation of Affordable Housing (POAH): Nonprofit affordable housing developer and manager focused on preserving and developing rental housing for low-income families. Comparable nonprofit mission-driven structure, use of LIHTC and RAD, and resident services integration similar to HDC's model.
• National Church Residences: Nonprofit organization developing and managing affordable senior housing across 25+ states. Highly comparable to HDC's senior-heavy portfolio focus (62+ communities, independent living) and use of LIHTC financing.
• Dominium: One of the largest affordable housing developers and managers in the U.S., with ~30,000 units across 20+ states. Comparable in LIHTC-driven multifamily development pipeline, though operates as a for-profit rather than nonprofit.
• LDG Development: Active affordable housing developer that partnered with HDC on Phoenix Station (244-unit family development). Comparable in LIHTC-driven multifamily development and willingness to co-develop transit-oriented affordable projects.
• The Benoit Group: Southeast-focused affordable housing developer that co-developed Sterling at Candler Village (170 senior units) with HDC. Highly comparable in regional focus, senior housing specialization, and LIHTC/tax-exempt bond financing structures.
• Mercy Housing: National nonprofit affordable housing developer with 75,000+ units across 40+ states. CEO Pete Walker was previously President of Mercy Housing Southeast, and President John Corcoran served as Regional VP of Development at Mercy Housing, making it a direct analog in mission, structure, and financing model.

Broad incumbents

• The Michaels Organization: Major affordable and workforce housing developer/manager with 80,000+ units. Comparable in LIHTC expertise, mixed-income community development, and property management scale; broader geographic reach than HDC.
• The Related Companies: Large diversified real estate developer with a substantial affordable housing arm (Related Affordable). Comparable in LIHTC and mixed-finance development expertise, though operates at much larger scale and across for-profit and affordable segments.

Others

• Hudson Housing Capital LLC: LIHTC syndicator and limited partner investor in HDC developments including The View. Comparable as a financial partner in affordable housing equity stacks, though operates as an investor rather than developer.

Regional players

• Atlanta Housing Authority: Largest public housing authority in Georgia and the regional counterpart to HADC. Operates similar RAD conversion, mixed-finance redevelopment, and affordable housing programs in adjacent metro Atlanta geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/housing-development-corporation-of-dekalb

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 Housing Development Corporation