Women's Development

What Women's Development does

Women's Development Corporation (WDC) is a Providence, Rhode Island-based nonprofit affordable housing developer founded in 1979, operating through three affiliated entities: WDC (development), Housing Opportunities Corporation (HOC, property management), and Women's Opportunity Realty Corporation (WORC, real estate evaluation and long-term financial stewardship). The organization designs, develops, constructs, and operates affordable rental housing serving low- and moderate-income families, seniors aged 62+, and persons with special needs (including veterans, formerly homeless individuals, the formerly incarcerated, and people with disabilities). WDC has developed more than 1,600 affordable housing units since inception and currently manages nearly 900 units across 13 communities in Rhode Island and Southeastern Massachusetts, serving over 2,000 Rhode Islanders annually.

WDC's product lines are segmented across three population categories — family housing (e.g., Elmwood Commons, Pine View Apartments), elderly housing (e.g., Adelante, Allegria, Plaza Esperanza), and supportive housing with integrated services (e.g., Dean Street Studios, Tanguay Apartments, the proposed 183 Washington Street development). Active projects include the 30-unit 183 Washington Street (West Warwick), the 44-unit Breakneck Hollow (Lincoln, 100% affordable), and the 44-unit mixed-use 327 Elmwood Avenue (Providence, targeting a January 2027 opening). Technical capabilities are concentrated in real estate development, construction management, LIHTC syndication, and property operations rather than proprietary software or data platforms.

WDC's revenue mechanics combine four streams: rental income from affordable units (income-based, 30%-80% of Area Median Income), government grants (RI Housing acquisition and predevelopment, Continuum of Care rental assistance), Low Income Housing Tax Credit equity syndication, and third-party property management and consulting fees via HOC. Distribution relies on direct applications, RI Housing's centralized waitlist portal, and partnerships with municipal housing authorities. Go-to-market is sales-led in the sense that new projects are secured through competitive RFP processes and direct government partnerships rather than open-market sales; residents are reached through Health Equity Zone referrals and community partnerships rather than conventional marketing.

Name

Women's Development

Legal name

Women's Development Corporation

Website

https://wdchoc.org

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Women's Development Corporation is a 1979-founded Providence, RI nonprofit that develops, constructs, and manages affordable rental housing — nearly 900 units across 13 communities — serving low-income families, seniors, and persons with special needs in Rhode Island and Southeastern Massachusetts.

Ownership category

akta.pro rank

Product category

Affordable Housing Development and Property Management

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Affordable housing development
• Property management services
• Supportive housing
• Low income housing
• Housing development consulting

Headquarters

HQ city

Providence

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Rental Income from Affordable Housing: WDC generates revenue through rental income from its portfolio of affordable housing units. Properties serve low-income families, elderly, and persons with special needs at various income levels (typically 30%-80% of Area Median Income). HOC manages rental collections and tenant relations for the portfolio.
2. Government Grants and Funding: WDC secures funding from government sources including RI Housing grants for property acquisition and predevelopment expenses, Rhode Island Continuum of Care grants for rental assistance and services, and federal/state affordable housing programs. Funding supports new development and property improvements.
3. Tax Credit Programs: WDC utilizes Low Income Housing Tax Credits and other affordable housing financing mechanisms to fund development projects. The organization has relationships with equity investors for tax credit syndication.
4. Property Management Services: HOC, WDC's affiliate, provides property management and consulting services for properties developed by other nonprofit housing organizations. Services include property/asset management, tenant services, and financial management for properties funded by RI Housing, HUD, and USDA Rural Development.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Women's Development Corporation (WDC) is a nonprofit affordable housing developer and property manager that designs, develops, constructs, and manages rental housing for low- and moderate-income families, seniors aged 62+, and persons with special needs (including veterans, formerly homeless individuals, and people with disabilities) across Rhode Island and Southeastern Massachusetts. Through its affiliate Housing Opportunities Corporation (HOC), it provides 24-hour property management for over 700 apartments, and it also delivers housing development consulting services to other New England nonprofits.

Product overview

Women's Development Corporation (WDC) operates as an integrated affordable housing organization with three core components: Women's Development Corporation (the primary development entity), Housing Opportunities Corporation (HOC, the property management affiliate managing over 700 units), and Women's Opportunity Realty Corporation (WORC, supporting financial sustainability). WDC's housing portfolio includes elderly developments (Adelante, Allegria, Plaza Esperanza, and others), family housing (Elmwood Commons, Pine View Apartments, and others), and supportive housing for vulnerable populations (Dean Street Studios, Tanguay Apartments, and others). The company is actively developing new projects including 183 Washington Street (30 units in West Warwick), Breakneck Hollow (44 units in Lincoln), and 327 Elmwood Avenue (44 units in Providence, expected 2027). The organization also provides consulting services to organizations throughout New England and manages properties funded by HUD, Rhode Island Housing, and USDA Rural Development.

Differentiator

Problem solved

Functional benefit

Products and services

• Women's Development Corporation (WDC) Housing Development Core housing development organization that designs, develops, constructs, and manages affordable housing for low- and moderate-income families, elderly persons (62+), and individuals with special needs across Rhode Island and Southeastern Massachusetts. Has developed over 1,600 affordable housing units since 1979.
• Housing Opportunities Corporation (HOC) Property Management Non-profit property management affiliate providing hands-on property management, financial management, tenant services, and 24-hour emergency maintenance for WDC properties and properties owned by other organizations across Rhode Island.
• Women's Opportunity Realty Corporation (WORC) Real Estate Development Affiliate that supports the creation and preservation of affordable housing by evaluating and developing real estate projects sponsored by WDC, ensuring long-term financial sustainability of housing developments in WDC's portfolio.
• Pine View Apartments 40-unit affordable housing complex in Exeter, Rhode Island offering family housing with energy-efficient units, common green space, walking trails, and off-street parking.
• Elderly Housing Developments (62+) Housing developments specifically for persons 62 years of age and older, including properties at Adelante, Allegria, La Casa and Rodman, Plaza Esperanza, Saugutucket Springs, and Wildberry Apartments.
• Family Housing Developments Multi-bedroom housing for families including properties such as Elmwood Commons, Lexington Ave Apartments, Shannock Falls, and Pine View Apartments serving low/moderate income families across Rhode Island.
• Supportive Housing Developments Permanent housing with supportive services for homeless persons with disabilities, veterans, formerly incarcerated individuals, and people with various disabilities. Includes on-site case management and partnerships with behavioral health providers.
• Property Management Services (Third-Party) Comprehensive property management services provided to other nonprofit housing organizations, including cost-effective preventive maintenance, apartment inspections, 24-hour emergency maintenance, financial management, tenant selection and leasing, rent collection, and annual tenant re-certifications.
• Housing Development Consulting Services Consulting services provided to organizations throughout New England, guiding projects from site selection through completion of construction, including development feasibility analysis, design and engineering coordination, and project management.

Quantifiable outcome

• Over 1,600 affordable housing units developed since 1979
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Stop & ShopminorGTM or Marketing Partner · 1 November 2024Housing Opportunities Corporation (HOC) was selected as Stop & Shop's Community Bag Program Nonprofit Partner for November 2024. For every $2.50 reusable Community Bag purchased at the Cranston, RI location, HOC receives a $1 donation to support community services.
• West Warwick Health Equity Zone (HEZ)coreStrategic or Co-development Partner · 1 January 2020Innovative partnership with the West Warwick Health Equity Zone, a coalition of residents and community-based organizations anchored by Thundermist Health Center. HEZ invited WDC to develop affordable housing to address housing insecurity in West Warwick. WDC and HEZ work together on community outreach, service coordination, and ensuring long-term housing stability for residents.
• Thrive Behavioral HealthcoreStrategic or Co-development PartnerWDC is partnering with Thrive Behavioral Health for the provision of supportive services to residents at 183 Washington Street. Thrive has significant presence in West Warwick and extensive experience with the local population's needs, offering behavioral health services and community outreach.
• Thundermist Health CentercoreStrategic or Co-development PartnerThundermist Health Center anchors the West Warwick Health Equity Zone and partners with WDC to provide comprehensive health services and outreach to residents at 183 Washington Street. Both organizations have long-standing relationships with the local community.
• Rhode Island Continuum of CarecoreStrategic or Co-development PartnerWDC is a plaintiff in litigation defending Continuum of Care funding criteria. The Continuum of Care provides grant funding for rental assistance and services at WDC supportive housing developments. WDC's Director of Real Estate Development sits on the Board of Directors.
• Providence Redevelopment AgencycoreStrategic or Co-development PartnerPRA has been the owner and steward of the 327 Elmwood parcel. In 2024, WDC was awarded rights to develop the parcel into affordable housing through a competitive RFP process. PRA and WDC have partnered to facilitate community outreach and identify potential commercial tenants.
• RI HousingcoreStrategic or Co-development PartnerRI Housing has committed grant funds both to acquire the 183 Washington Street property and for predevelopment expenses related to the development of permanent supportive housing. WDC applies for funding from RI Housing for development projects and accesses the centralized waitlist system.
• West Warwick Housing AuthoritycoreChannel Partner/ Reseller/ DistributorThe West Warwick Housing Authority has expressed support for the 183 Washington Street project and is interested in working to access rental assistance vouchers for the project. Also participated in the Healthy Neighborhoods workgroup focused on housing insecurity.
• Housing Network of Rhode IslandcoreStrategic or Co-development PartnerWDC's Director of Real Estate Development sits on the Board of Directors for the Housing Network of Rhode Island, a state affordable housing association.
• Housing Works RIminorStrategic or Co-development PartnerParticipated in the Healthy Neighborhoods workgroup focused on housing insecurity in West Warwick, alongside Continuum of Care and RI Coalition to End Homelessness.
• National Alliance to End HomelessnesscoreStrategic or Co-development PartnerWDC joined as plaintiff with the National Alliance to End Homelessness and others in challenging HUD's changes to homeless funding criteria in federal court. The lawsuit successfully defended the original funding framework for the Continuum of Care Builds program.

Scale indicators11 records

Recent moves4 records

Expansion highlights6 records

Direct peers

• ONE Neighborhood Builders: Providence-based nonprofit affordable housing developer and manager (formerly Olneyville Housing Corporation). WDC's Executive Director Frank Shea previously led this organization for 16 years. Both serve overlapping Rhode Island geographies with similar LIHTC-financed development and property management models.
• Crossroads Rhode Island: Largest provider of homeless services and supportive housing in Rhode Island. Operates emergency shelter, transitional, and permanent supportive housing in Providence, directly comparable to WDC's supportive housing segment for veterans, formerly homeless, and persons with disabilities.
• The Community Builders: National nonprofit developer and property manager of affordable and mixed-income housing. Ellen Quinn's prior employer. Operates a vertically integrated development + property management platform closely mirroring WDC's WDC/HOC/WORC structure, with similar LIHTC financing and HUD funding reliance.
• Preservation of Affordable Housing (POAH): National nonprofit that preserves and develops affordable rental housing across the U.S. Ellen Quinn also previously worked at POAH. Comparable mission of affordable housing preservation, LIHTC-financed development, and long-term stewardship of multifamily portfolios.

Broad incumbents

• Mercy Housing: One of the largest U.S. nonprofit affordable housing developers, with over 50,000 units across 41 states. Operates the same development + property management integrated model as WDC, with broader geographic reach and deeper service-enriched programs.
• National Church Residences: National nonprofit affordable housing developer and service provider focused on seniors and vulnerable populations. Comparable in mission to serve elderly (62+) and special needs populations, with similar supportive services model and LIHTC/HUD financing.
• WinnCompanies: National multifamily property manager and developer with one of the largest affordable housing portfolios in the U.S. (140,000+ units). Comparable to HOC's third-party property management arm and affordable housing operating expertise, though for-profit rather than nonprofit.

Regional players

• Rhode Island Housing: State housing finance agency that provides financing, grants, and the centralized waitlist that WDC uses. Functions as a key funding partner and quasi-competitor for affordable housing development in Rhode Island. Direct regional peer in the Rhode Island affordable housing ecosystem.

Others

• Housing Network of Rhode Island: Statewide association of affordable housing developers and advocates (WDC's Director of Real Estate Development sits on the board). Represents the broader Rhode Island nonprofit affordable housing community and serves as a peer network and policy advocacy partner.
• NeighborWorks America: National network of 240+ nonprofit affordable housing and community development organizations. WDC operates as a peer within this network, accessing capital, training, and peer benchmarks. Provides comparable scale and structure to other network members in WDC's category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/wdchoc

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

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 Women's Development