Horizon Development Group

What Horizon Development Group does

Horizon Develop Build Manage is a Madison, Wisconsin-based, privately held group of three operating entities - Horizon Development Group, Inc. (HDG), Horizon Construction Group, Inc. (HCG), and Horizon Management Services, Inc. (HMS) - that delivers vertically integrated real estate development, construction, and property management services across the Midwest. Founded in 1984 by Chuck Heath and restructured into three entities in 1996, the company has completed 96+ residential projects and more than $2 billion in cumulative construction and development volume, while currently managing over 3,500 housing units across 65 properties with 97.6% occupancy. Service scope spans site identification and feasibility, design-build and design-assist construction, third-party LIHTC compliance, and ongoing property management, with primary operating geographies in Wisconsin, Iowa, and Illinois and a 2024 expansion into Indiana.

The business generates revenue through three streams: development fees on behalf of third-party clients, general contracting and construction management with cost-plus markups, and recurring property management fees based on units managed or percentage of revenue. Pricing is project-specific and negotiated rather than standardized, and contracts typically run multi-year for management engagements. The go-to-market is relationship-driven enterprise sales targeting affordable-housing developers (driven by Section 42/LIHTC and WBE-set-aside opportunities), senior housing operators, market-rate multifamily developers, and select commercial and hospitality clients such as hotels and indoor waterparks. Notable repeat clients include Continental Properties (26 projects) and HeyDay Development (4+ projects), alongside non-profit and tribal housing authorities.

The firm employs 251-500 people (85+ dedicated real estate professionals) and ranks #247 on the ABC Top 250 (#133 among general contractors) and #15 on the 2025 NMHC Top Builders List, placing it in the top 1-2% of US contractors by volume. Leadership transitioned from founder Chuck Heath to CEO Mick Hintz in the 2012-2022 succession window, with ownership broadened to include Becky Hildebrandt and Dana Leikness (2015) and most recently Sarah Braunschweig (January 2026). Strategic priorities visible in the data are geographic diversification into the Midwest growth corridor, deepening repeat-developer relationships, and leveraging the 2024 Wisconsin WBE certification to win diversity-scored affordable housing bids.

Name

Horizon Development Group

Legal name

Horizon Develop Build Manage

Website

https://horizondbm.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Real Estate Development & Construction Services

NAICS

Commercial and Institutional Building Construction (23622), New Multifamily Housing Construction (except For-Sale Builders) (236116), New Housing For-Sale Builders (236117), Management of Companies and Enterprises (55)

SIC

General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540), Real Estate Agents & Managers (For Others) (6531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Design-Build / EPC General Contracting (IMAFAAAD)

akta.pro secondary industries

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Real estate development
• Construction services
• Property management
• Multifamily housing
• LIHTC compliance

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Services: Third-party development services finding and evaluating new development opportunities. Revenue generated through development fees on behalf of clients.
2. Construction Services: General contracting and construction management services. Revenue through construction costs with markups, delivering projects on time and on budget.
3. Property Management Services: Third-party property management and LIHTC compliance services. Revenue generated through management fees based on units managed or percentage of revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Horizon Develop Build Manage is a vertically integrated group of three Wisconsin-based companies providing real estate development, construction, and property management services since 1984. The firm finds and evaluates development opportunities, provides general contracting and construction management, and delivers third-party property management with Low-Income Housing Tax Credit (LIHTC) compliance for senior, multifamily, commercial, hospitality, and planned neighborhood projects.

Product overview

Horizon Develop Build Manage is a vertically-integrated group of three companies operating since 1984: Horizon Development Group (development), Horizon Construction Group (construction), and Horizon Management Services (property management). The company specializes in integrated development, construction, and property management services for real estate projects including senior communities, multifamily housing, commercial properties, planned neighborhoods, and hospitality/indoor waterparks. The three entities work together to assist clients from project vision through development, construction, and ongoing management, offering LIHTC compliance services and market-rate property management across Wisconsin, Iowa, and Illinois.

Differentiator

Problem solved

Functional benefit

Products and services

• Horizon Development Group, Inc. (HDG) Provides third-party development services for senior housing and multifamily housing projects, including finding and evaluating new development opportunities.
• Horizon Construction Group, Inc. (HCG) Provides integrated preconstruction, estimating, and project management services as a full-service general contractor offering commercial and industrial construction with design-build capabilities.
• Horizon Management Services, Inc. (HMS)

Quantifiable outcome

• 97.6% occupancy rate maintained across managed portfolio
• +5 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Fiduciary Real Estate DevelopmentcoreStrategic or Co-development Partner · 1 January 2026Client for Seasons at Gurnee project - Horizon serving as general contractor for 120-unit multifamily development. First project with Fiduciary.
• Continental PropertiescoreStrategic or Co-development Partner · 1 November 2025Long-standing development partner with 26 completed projects as of Springs at Aurora. Horizon serves as general contractor forContinental Properties' multifamily developments across the Midwest. Projects include Springs at Deforest (25th partnership), Springs at Aurora (26th), Authentix communities, Lake Cook Crossing, and others.
• Endeavour CorporationcoreStrategic or Co-development Partner · 1 August 2025Developer of Rock River Ridge community in Watertown. Co-development partner on Lumin Terrace project.
• HeyDay (HeyDay Development)coreStrategic or Co-development PartnerOngoing partnership on attached single-family home communities. Projects include Heyday Cottage Grove (3rd project), Heyday Aurora (4th project), Heyday Sun Prairie, Heyday Oak Creek. HeyDay provides development vision while Horizon serves as general contractor.
• Advenir Development, LLCcoreStrategic or Co-development PartnerClient for Leo at Mount Pleasant project - 220 single-family apartment homes with clubhouse and detached garages.
• Seven DiamondsminorStrategic or Co-development PartnerClient for The Parisi luxury condominium project near Notre Dame campus - 39 units, 5-story wood frame building.
• Holladay PropertiescoreStrategic or Co-development PartnerClient for Flats at Pinecreek project in Elkhart, Indiana - 252 units across 8 buildings.
• North Town PartnersminorStrategic or Co-development PartnerClient for North Town Townhomes project in Sheboygan - 54 residences in 99-acre mixed-use development.
• Roosevelt Holdings, LLCminorStrategic or Co-development PartnerClient for Roosevelt West project in Geneva, Illinois - 14 luxury apartments above 8,680 sf retail space.
• Ridgeview, LLCminorStrategic or Co-development PartnerClient for Ridgeview Apartments in Pewaukee, WI - 161 apartments in Ridgeview Corporate Park.
• Vrutthi, LLCminorStrategic or Co-development PartnerClient for The Prosperita Townhomes in Naperville, IL - luxury customizable townhomes with STEM school footprint.
• Three Leaf Construction, LLCminorStrategic or Co-development PartnerClient for Westrock Residences in Hartland, WI - 267 units across apartments and townhomes.
• Presidio Hill Investments, LLCminorStrategic or Co-development PartnerClient for Heritage Townhomes near Notre Dame - 30 units in gated community.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Regional players

• Continental Properties: Midwest-focused multifamily developer and owner-operator of the Springs and Authentix brands. Long-standing Horizon development partner (26 projects) with comparable Midwest concentration and product mix.

Broad incumbents

• Lincoln Property Company: National multifamily developer, owner, and third-party manager with integrated service lines. Comparable vertically integrated model but operates at materially larger scale and broader geography than Horizon.
• Greystar Real Estate Partners: Largest U.S. multifamily property manager and developer with national footprint. Comparable to HMS in property management scale and to HDG in development, but operates at significantly larger scale and broader geography than Horizon.
• Clark Construction Group: Large national general contractor with multifamily, commercial, and institutional building capabilities. Comparable to HCG in general contracting services, but significantly larger and more diversified across geographies and verticals.

Direct peers

• Weis Builders: Mid-size general contractor with strong multifamily, senior living, and hospitality portfolio across the Midwest. Comparable to HCG in scale, project types, and regional footprint.
• McShane Construction Company: National design-build general contractor with deep multifamily specialization serving institutional developers and owners. Closely comparable to Horizon's HCG in delivery model, customer base, and unit-construction focus.
• The NRP Group: Vertically integrated multifamily developer, builder, and property manager specializing in affordable and market-rate housing. Closely comparable to Horizon's three-entity structure and LIHTC focus.
• WinnCompanies: Vertically integrated real estate developer, general contractor, and property manager with deep LIHTC and affordable housing expertise. Closely analogous three-entity structure and affordable-housing focus.
• ARCO National Construction: Design-build general contractor focused on multifamily, self-storage, and light industrial projects across the U.S. Shares Horizon's design-build delivery model and reliance on repeat developer clients in the multifamily vertical.
• The Opus Group: Design-build developer and general contractor with integrated real estate services across multifamily, senior living, and commercial. Comparable integrated delivery model and customer profile to Horizon.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HorizonDBM
• Facebookfacebook.com/Horizondbm

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 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 Horizon Development Group