Laurel Street

What Laurel Street does

Laurel Street is a Charlotte, NC-based, private for-profit mixed-income housing developer founded in 2011 by CEO Dionne Nelson. The company originates, develops, and operates affordable and mixed-income residential communities serving working families, seniors (55+), and disabled individuals earning 30%-120% of Area Median Income (AMI) across North Carolina, Georgia, and Virginia. Its portfolio spans 60+ communities with 6,000+ families served and cumulative development value exceeding $1.2 billion since inception, with current annual production capacity of 700-1,000 units.

Core capabilities include mixed-income development model design, creative financing structuring that layers Low Income Housing Tax Credits (federal and state), HOPE VI grants, Choice Neighborhoods grants, HUD loans including RAD program financing, and conventional construction debt; and sustainable building practices certified to LEED for New Construction, LEED Neighborhood Development, EarthCraft, and Energy Star v2 standards (yielding roughly 20% better energy efficiency than standard construction). The firm executes via public-private partnerships with housing authorities (Durham, High Point, Salisbury, Richmond Redevelopment Housing Authority), municipalities, faith-based institutions, and community development corporations, and is vertically integrated into property management through LSA Management and a 2023 joint venture (LSA/Avanath) with Avanath Capital Management. Noteworthy completed or pipeline projects include Renaissance (334 units, Charlotte), Brenner Crossing (170 units, first HUD RAD new construction in the country, Salisbury), Park Terrace (250 units, High Point), Highland Grove (128 units, Richmond), Centra Square (112 units, Charlotte), and the 236-unit Aldersgate/Springhouse workforce/moderate-income project. Capital partners include TD Bank, Bank of America, Fifth Third, TruFund Financial Services Impact Developers Fund (2021 equity), Goldman Sachs Asset Management Urban Investment Group's $75M Black affordable housing developer fund (2022 beneficiary), and BWE ($22.3M project debt, 2025).

Revenue derives from a combination of developer fees on new construction, rental income from completed properties under management (via LSA Management and the LSA/Avanath joint venture), equity participation through tax credit syndication partnerships, and selective asset management fees. Pricing to end residents is income-restricted and calculated as a percentage of AMI on a monthly billing cadence, while public-private partnership contracts are negotiated project-by-project with government anchor partners. Customer segments include working families (30%-80% AMI), seniors (55+ at 50%-80% AMI), market-rate residents in mixed-income buildings, and government/housing authority counterparties.

Name

Laurel Street

Legal name

Laurel Street

Website

https://laurelstreetres.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Laurel Street is a Charlotte, NC-based private developer of mixed-income residential communities serving working families, seniors, and disabled individuals at 30%-120% AMI across North Carolina, Georgia, and Virginia. Since 2011 it has built 60+ communities totaling $1.2B+ in development value and 6,000+ families served via public-private partnerships with housing authorities, municipalities, and institutional capital partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Development and Management: Laurel Street develops mixed-income residential communities and manages them through their affiliated property management firm LSA Management. Revenue is generated through rental income from completed properties.
2. Tax Credit Financing: The company utilizes federal and state tax credit programs (Low Income Housing Tax Credits) to finance development, creating equity through investor partnerships
3. Government and Institutional Financing: Projects are funded through multiple sources including HOPE VI grants, Choice Neighborhoods grants, HUD loans, and conventional construction loans from banks

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Laurel Street develops mixed-income residential housing communities across the U.S. East Coast (Southeast region), partnering with public housing authorities, municipalities, and community organizations to build affordable, workforce, and market-rate apartment and townhome communities. The company finances developments through layered federal and state tax credits, HUD grants and loans, and institutional construction loans, and operates an affiliated property management subsidiary (LSA Management) to operate completed communities.

Product overview

Laurel Street is a mixed-income residential developer focused on affordable housing development across the East Coast. The company operates as a unified platform with its primary offering being the development of high-quality mixed-income housing communities, supplemented by LSA Management, an affiliated property management service that provides property management for the company's portfolio of residential communities. The portfolio includes over 60 communities with 6,000+ families served and $1.2+ billion in total development value. Developments range from workforce housing to senior living, with units serving various income levels from 30% to 120% of Area Median Income (AMI), built across Georgia, North Carolina, and Virginia. Properties are developed to sustainability standards including EarthCraft, Energy Star v2, and LEED certification, and include amenities such as fitness centers, community rooms, business centers, and outdoor recreational spaces.

Differentiator

Problem solved

Functional benefit

Brands

• LSA Management: Property management subsidiary providing exceptional service to residents, partners, and investors at Laurel Street communities. An affiliated owner/operator that takes pride in high quality living and best-in-class property management.

Quantifiable outcome

• 60 communities and 6,000+ families served across the Southeast
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and major.

• AvanathcoreStrategic or Co-development PartnerLaurel Street and Avanath launched a joint property management firm in February 2023, combining their expertise in affordable and mixed-income housing management.
• Durham Housing AuthoritycoreStrategic or Co-development PartnerMultiple partnership phases including The Joyce (80 units for seniors), Vanguard redevelopment, Commerce Street, Dillard Street, and 500 East Main developments totaling hundreds of units.
• High Point Housing AuthoritycoreStrategic or Co-development PartnerPartnership for Park Terrace redevelopment (250 units) and Legacy Ridge redevelopment (100 units) in High Point, NC.
• Richmond Redevelopment Housing AuthoritycoreStrategic or Co-development PartnerPartnership for Highland Grove redevelopment (128 mixed-income units) in Richmond, VA, completed over two phases from 2012 to 2015.
• St. Paul Baptist Church and Zechariah Alexander CDCcoreStrategic or Co-development PartnerPartnership to develop Centra Square, 112 affordable units for seniors and families in Charlotte's Belmont neighborhood, completed in 2019.
• Salisbury Housing AuthoritycoreStrategic or Co-development PartnerPartnership for Brenner Crossing redevelopment (170 units) in Salisbury, NC, utilizing HUD's RAD program. This was the first RAD new construction project in the country.
• City of CharlottecoreStrategic or Co-development PartnerCity partnership for affordable housing development including surplus land provision for Baxter Street Flats and infrastructure funding for Renaissance.
• The Park ChurchmajorStrategic or Co-development PartnerPartnership with The Park Community Development Corporation and The Park Church to develop Gilfield Park, 80 senior units on the church's 51-acre campus in Charlotte.
• Southern Benedictine Society (Belmont Abbey)majorStrategic or Co-development PartnerPartnership to develop Loftin at Montcross senior apartments on monastery land in two phases (72 units in 2014, 100 units in 2019).

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Enterprise Community Partners: Enterprise is one of the largest national affordable housing developers, investors, and policy advocates, with LIHTC syndication and development arms—comparable in mission and product but operating at substantially greater scale.
• The Related Companies: Related has a large affordable housing division (Related Affordable) developing LIHTC-financed mixed-income communities—a much larger incumbent with overlapping product type, though at a national, diversified scale.

Emerging players

• Avanath Capital Management: Avanath is an affordable and workforce housing owner/operator that entered a joint venture with Laurel Street in 2023 to co-manage properties—an active strategic partner and a closely adjacent operator in the same asset class.

Direct peers

• L+M Development Partners: L+M Development Partners is a mixed-income and affordable housing developer using LIHTC, HUD programs, and public-private partnerships; comparable in financing model and mixed-income focus, though larger and more geographically diverse.
• The NRP Group: The NRP Group is a national affordable and market-rate multifamily developer that develops, constructs, and manages mixed-income communities using LIHTC and other public financing—directly comparable to Laurel Street's model across the Southeast and beyond.
• McCormack Baron Salazar: McCormack Baron Salazar is a national urban mixed-income developer focused on transforming distressed neighborhoods via HOPE VI, Choice Neighborhoods, and LIHTC—directly comparable to Laurel Street's affordable/mixed-income HUD-driven model.
• Pennrose: Pennrose is a multifamily developer and property manager focused on affordable, mixed-income, and market-rate housing using LIHTC, tax-exempt bonds, and public-private partnerships, comparable to Laurel Street's financing approach.
• LDG Development: LDG Development is a multifamily developer specializing in affordable, mixed-income, and market-rate housing across the U.S., using LIHTC financing and public-private partnerships similar to Laurel Street.
• Woda Cooper Companies: Woda Cooper is a national affordable housing developer specializing in LIHTC-financed multifamily rental communities with integrated property management, comparable in scale and Southeast footprint to Laurel Street.
• The Michaels Organization: The Michaels Organization is a national developer, owner, and manager of affordable and workforce housing, with a vertically integrated development + property management model that closely mirrors Laurel Street + LSA Management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LaurelStreetResidential

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 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 Laurel Street