Regan Development

What Regan Development does

Regan Development Corporation is a family-owned real estate development firm headquartered in Ardsley, NY, with over 30 years of operating history and a cumulative development portfolio exceeding $750 million across Connecticut, Massachusetts, New Jersey, New York, and Pennsylvania. The company specializes in community-focused residential development with a strong emphasis on affordable and income-restricted rental housing, operating across four product categories: affordable rental apartments, market rate rentals, 55+ senior housing, and special needs housing for individuals with disabilities. Notable developments include Ojakian Commons in Simsbury, CT (New England's first MS-accessible affordable community), Kershaw Commons in Freehold, NJ (the East Coast's first accessible affordable rental residences for people with MS), and the Swinburne Building mixed-use project in Albany, NY.

The company's revenue model is built on recurring monthly rental income from owned and managed apartment communities, with rents structured across multiple Area Median Income (AMI) tiers (40%, 50%, 60%, 80%) and market-rate levels. Below-market rents on income-restricted units are enabled by financing structures including Low Income Housing Tax Credits (LIHTC), the New Jersey Balanced Housing Program, and the Solar PILOT program. The go-to-market is direct-to-consumer: prospective tenants discover properties and submit applications through the company's website or at on-site model offices, with no intermediaries or channel partners. Notable technical features include Energy Star appliances and construction standards, geothermal heating and cooling systems (e.g., Lion Factory apartments), rooftop solar installations via the Solar PILOT program on seven New Jersey buildings, and historic building adaptive reuse combined with modern amenities.

Regan Development maintains an ecosystem of core financial and strategic partnerships that underpin its affordable housing development pipeline, including NJHMFA, Bank of New York (LIHTC), Alliant Capital, KeyBank, and the National Multiple Sclerosis Society. The firm operates with a lean corporate staff of 1-10 employees at headquarters, with on-site property management teams at each development. Its competitive positioning rests on regulatory expertise in affordable housing financing, deep municipal relationships across the Northeast, and a differentiated track record in accessible special-needs housing built through long-standing nonprofit partnerships.

Name

Regan Development

Legal name

Regan Development Corporation

Website

https://regandevelopment.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

1–10 employees

Short description

Regan Development Corporation is a family-owned Northeast US real estate developer that builds and manages affordable, market-rate, senior, and special-needs rental housing across 50+ properties in CT, MA, NJ, NY, and PA, with $750M+ developed over 30+ years.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (53111), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Real Estate Property Managers (53131), Residential Intellectual and Developmental Disability, Mental Health, and Substance Abuse Facilities (6232)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH), Senior & Assisted Living Residential Property Management (BPAJAFAE), Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

Keywords

• Affordable housing development
• Multifamily residential rentals
• Senior housing services
• Special needs housing
• Historic building redevelopment

Headquarters

HQ city

Ardsley

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: The primary revenue stream is rental income from residential apartment units across owned properties. Rents are set at below-market (affordable) levels determined by household income limits (AMI thresholds at 40%, 50%, 60%, 80%). Income-restricted units generate stable, occupancy-driven revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Regan Development Corporation develops, owns, and operates residential rental real estate across the Northeast United States (CT, MA, NJ, NY, PA), with a core focus on affordable housing certified under LIHTC/AMI programs (40%–80% of Area Median Income), complemented by market-rate rentals, 55+ senior housing, and special-needs housing for persons with disabilities. The firm also performs select commercial developments and historic adaptive-reuse projects, frequently incorporating eco-friendly construction features such as geothermal systems, solar panels, and Energy Star appliances.

Product overview

Regan Development Corp is a real estate development company that builds and manages a portfolio of residential apartment communities across the Northeastern United States. Their portfolio consists of multiple property categories including Affordable Rental Apartments, Market Rate Rentals, 55+ Senior Housing, and Special Needs Housing. Each development is specifically designed to benefit its neighborhood through community-focused planning, with features including on-site day care centers, playgrounds, and transit-oriented locations. The company has developed over $750 million in residential and commercial real estate over 30+ years.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Rental Housing LIHTC-certified multifamily rental apartments offered to income-qualified households at below-market rents tied to Area Median Income thresholds. Targeted at low- and moderate-income families and individuals across the U.S. Northeast (CT, MA, NJ, NY, PA) who meet income-eligibility requirements.
• Market Rate Rentals Market-priced multifamily rental apartments offered to working professionals and families who do not need income-restricted housing. Sited across CT, MA, NJ, NY, and PA.
• 55+ Senior Housing Age-restricted independent-living rental communities for adults aged 55 and over, designed for low-maintenance senior living with community amenities. Available in select Northeast locations.
• Special Needs Housing Accessible rental housing communities designed for persons with disabilities, providing supportive and accessible units integrated within mainstream multifamily settings. Targeted at qualifying individuals and families across the U.S. Northeast.
• Historic Adaptive Reuse Commercial Development Select commercial real-estate development projects involving the adaptive reuse and redevelopment of historic structures. Delivered for commercial tenants and community stakeholders in the U.S. Northeast.

Quantifiable outcome

• $750 million+ in real estate developed
• +3 more outcomes

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

Eight partnerships are on record, tiered core and minor.

• National Multiple Sclerosis SocietycoreStrategic or Co-development PartnerRegan Development has an established partnership with the National Multiple Sclerosis Society for the development of accessible, affordable rental housing for people with disabilities needing services coordinated by the Society. Notable projects include Ojakian Commons in Simsbury, CT (New England's first such community) and Kershaw Commons in Freehold, NJ (the East Coast's first accessible affordable rental residences for people with MS).
• First A.M.E. Zion Church, PatersoncoreStrategic or Co-development PartnerZion Court is a joint venture between Regan Development Corporation and the First A.M.E. Zion Church in Paterson, NJ. The church-based nonprofit is a co-development partner for this affordable housing project.
• Governor Dannel Malloy and Connecticut State GovernmentminorOthersConnecticut Governor Dannel Malloy and Lt. Governor Nancy Wyman participated in the Ojakian Commons construction kickoff ceremony, representing state government support for the project. The State of New Jersey also provides financing support through various programs.
• Libolt & SonsminorStrategic or Co-development PartnerRegan Development partnered with Libolt & Sons to create Senior Horizons at Newburgh, a high-quality apartment community for independent seniors in Newburgh, NY.
• Hearthway, Inc.minorChannel Partner/ Reseller/ DistributorHearthway, Inc. handles leasing for Terrace 592 Apartments in Pittsfield, MA. Regan Development developed the property while Hearthway manages the leasing and tenant application process.
• Berkshire HousingminorStrategic or Co-development PartnerBerkshire Housing partnered with Regan Development for the White Terrace development in Pittsfield, MA, marking Regan Development's first project in Massachusetts.
• City of PittsfieldminorOthersCity of Pittsfield partnered with Regan Development and Berkshire Housing for the White Terrace development, working on the transformation of a blighted property into new community housing.
• City of Clifton (NJ)coreOthersThe City of Clifton is a key municipal partner for multiple Regan Development projects including Clifton Main Mews II, Senior Horizons at Clifton, and Horizons at Scales Plaza. The city provides planning approvals and collaborative support for revitalization projects.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• L+M Development Partners: Northeast-focused affordable and mixed-income multifamily developer that originates LIHTC deals with comparable unit-mix and tenant profile. Directly competes with Regan for affordable allocations in NY/NJ/CT and for similar institutional capital partners.
• The NHP Foundation: Not-for-profit affordable housing developer focused on NY/NJ/CT/DC, working with LIHTC and local housing finance agencies. Closely mirrors Regan's mission-driven, mixed-segment (senior, family, special needs) approach.
• Pennrose: Mid-Atlantic/Northeast affordable housing developer and property manager using LIHTC and state financing. Overlaps with Regan in senior, family, and special-needs affordable product across PA, NJ, and NY.
• BRP Companies: NYC-based affordable and mixed-income multifamily developer with active LIHTC pipeline. Competes with Regan for Northeast affordable allocations and municipal partnerships.
• Beacon Communities: Affordable housing developer and manager active across the Northeast and Mid-Atlantic using LIHTC financing. Directly competes for affordable allocations and senior/special-needs development mandates.
• The Michaels Organization: New Jersey-based developer, owner, and manager of affordable and market-rate housing with a substantial LIHTC portfolio. Directly comparable operating model and geographic overlap in NJ affordable housing.

Broad incumbents

• WinnCompanies: Large multifamily owner/operator and developer with a major affordable housing footprint in the Northeast. Competes for affordable allocations and provides a direct property-management benchmark for Regan's owned portfolio.
• Community Preservation Corporation (CPC): New York-focused affordable housing lender, developer, and policy advocate. Overlaps with Regan in NY affordable multifamily development and financing partnerships.
• The Related Companies: One of the largest US developers of affordable and mixed-income housing, with deep LIHTC execution capabilities across multiple states including the Northeast. Far larger than Regan but competes for the same LIHTC allocations, municipal RFPs, and affordable-housing debt/equity sources.

Emerging players

• Hallkeen Management: Northeast regional property manager of affordable and mixed-income housing, including LIHTC communities. Comparable third-party operator footprint relevant to properties Regan owns or co-develops.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Regan Development