DHIC

What DHIC does

DHIC (Downtown Housing Improvement Corporation) is a 501(c)(3) nonprofit affordable-housing organization founded in 1974 and headquartered in Raleigh, North Carolina. It develops, owns, and operates a multifamily rental portfolio comprising 45+ communities — including 27 family communities, 20 senior communities, and 2 supportive housing communities — totaling more than 3,200 apartment homes across 9 North Carolina counties, with 8 additional communities currently under development.

The organization's core products are LIHTC-financed rental housing across family, senior, and supportive-housing asset classes, complemented by a Homeownership Center that delivers pre-purchase counseling, financial education, and foreclosure-prevention services. DHIC also operates within the Purpose Built Community framework, layering resident services onto its physical assets to address broader community outcomes rather than housing alone.

DHIC's revenue model combines below-market rental income from affordable tenants with capital inflows from Low-Income Housing Tax Credit (LIHTC) allocations, conventional and public debt, philanthropic contributions, and public-sector grants. Major recent capital formation includes 2021 LIHTC awards covering 627 units across five projects and a 2022 allocation of $991,236 for Creston Commons. Governance and operating capabilities include CORES Certification, a 2023–2025 Strategic Plan, and a Racial Equity, Diversity, and Inclusion (REDI) Committee formed in 2020 under President and CEO Yolanda Winstead, who assumed the role that same year.

Name

DHIC

Legal name

DHIC, Inc.

Website

https://dhic.org

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

11–50 employees

Short description

DHIC is a 501(c)(3) nonprofit founded in 1974 that develops, owns, and manages 45+ affordable rental communities totaling more than 3,200 apartment homes across 9 North Carolina counties, supplemented by a Homeownership Center providing counseling and foreclosure-prevention services.

Ownership category

akta.pro rank

Product category

Affordable Housing

NAICS

Assisted Living Facilities for the Elderly (623312), Other Residential Care Facilities (623990), Services for the Elderly and Persons with Disabilities (624120)

SIC

Services-To Dwellings & Other Buildings (7340), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

akta.pro secondary industry

Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH)

Keywords

• Affordable rental housing
• Senior housing
• Homeownership education
• Resident services
• Community development

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Rental Income: DHIC generates primary revenue through rental income from their apartment communities. All apartment communities have income restrictions, offering lower rent costs than typically found in the marketplace. They own and manage more than 3,200 apartment homes across the North Carolina Triangle area.
2. Homeownership Center Services: DHIC's Homeownership Center provides homebuyer education workshops, counseling, foreclosure prevention, and access to special financing opportunities. Services include USDA Direct Rural Home Loans and Wake County Affordable Homeownership Program partnerships.
3. Grants and Public Funding: DHIC receives funding through Low-Income Housing Tax Credits, grants from organizations like NeighborWorks America, and public financing from Wake County, City of Raleigh, and NC Housing Finance Agency.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

DHIC develops, owns, and manages income-restricted affordable rental apartment communities across the North Carolina Triangle area, operating more than 3,200 homes across family, senior, and supportive housing properties. The organization also runs a Homeownership Center that delivers turn-key homebuyer education workshops, one-on-one counseling, foreclosure prevention, and access to special financing programs (USDA Direct Rural Home Loans and the Wake County Affordable Homeownership Program). Complementary resident services include financial literacy, health and wellness programs, community-building activities, and youth enrichment for residents of its apartment communities.

Product overview

DHIC is a nonprofit affordable housing organization offering a portfolio of housing services across the North Carolina Triangle area. The core offerings include Family Housing (27 communities), Senior Housing (20 communities), and Supportive Housing (2 communities), plus 8 properties under development. The Homeownership Center provides comprehensive homeownership services including education workshops, one-on-one counseling, foreclosure prevention, and access to special financing programs. The organization also provides resident services, financial literacy programs, and CORES-certified resident services coordination. All services are designed to strengthen communities by developing and preserving affordable housing and supporting residents through services that foster connection and stability.

Differentiator

Problem solved

Functional benefit

Products and services

• Family Housing
• Senior Housing
• Supportive Housing
• Homeownership Center
• Homebuyer Education Workshops
• Homebuyer Counseling
• Foreclosure Prevention
• Resident Services
• Financial Literacy Programs

Quantifiable outcome

• 2,288 families became homeowners through Homeownership Center
• +6 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core and supporting.

• Resources for SeniorscoreStrategic or Co-development Partner25+ year partnership ensuring seniors have access to services for independent living. Services include service coordination, transportation arrangement, wellness checks, food delivery, and mental health support. During COVID-19, coordinated vaccination clinics for over 400 residents and 441 boosters.
• Advance Community HealthcoreStrategic or Co-development PartnerNon-profit community health center partnership for Healthcare At Home initiative. Provided COVID-19 testing at select DHIC apartment communities for residents and general community members.
• Raleigh Dream CentersupportingStrategic or Co-development PartnerFaith-based nonprofit providing social services since 2015. Distributed meals across family communities through Wake County Public Schools partnership. Adopt-A-Block program provides food, back-to-school supplies, and holiday toy giveaways.
• Overflowing HandssupportingStrategic or Co-development Partner100% volunteer nonprofit providing basic needs and resources. Distributed fresh produce boxes, milk, and frozen meals across Wake County including DHIC family communities during COVID-19 pandemic.
• Southeast Raleigh PromisecoreStrategic or Co-development PartnerPartner in Raleigh's first Purpose Built Community along with Southeast Raleigh YMCA and Wake County Public Schools. Focused on holistic neighborhood revitalization achieving racial equity, improved health outcomes, and economic mobility.
• Southeast Raleigh YMCAcoreStrategic or Co-development PartnerPartner in Purpose Built Community initiative offering discounted YMCA memberships to Beacon Ridge residents and wellness activities for youth and adults.
• Wake County Public School SystemcoreStrategic or Co-development PartnerPartner in Purpose Built Community, with Southeast Raleigh Elementary School located within walking distance of Beacon Ridge apartments.
• Community Management CorporationcoreChannel Partner/ Reseller/ DistributorThird-party property management company managing DHIC communities. Professionally manages Beacon Ridge and other properties, ensuring safe, well-maintained, and inclusive communities.
• Fifth Third BanksupportingStrategic or Co-development PartnerFinancial Empowerment E-Bus initiative providing mobile financial resource center. DHIC's Homeownership Center team provided credit reviews and consultations at Walnut Creek Elementary School event.
• Habitat for HumanitysupportingStrategic or Co-development PartnerPartnership helping DHIC residents like Lashunda Snowden achieve homeownership. Residents complete sweat equity hours and receive DHIC homeownership education before purchasing Habitat homes.
• NeighborWorks AmericacoreStrategic or Co-development PartnerNational network member providing training, grants, and support. Awarded $30,000 grant for energy audits and manages Business Intelligence Fellowship and Achieving Excellence Program.
• Brightspire (formerly Presbyterian Homes)coreStrategic or Co-development PartnerJoint development partner for Milner Commons senior housing project. Previously worked together on Capital Towers Apartments renovation.
• Presbytery of New HopesupportingStrategic or Co-development PartnerMid-Council of Presbyterian Church spanning 33 counties. Property reverted to Presbytery when Milner Memorial Presbyterian Church dissolved, leading to affordable housing development partnership.
• Self-HelpcoreStrategic or Co-development PartnerCo-development partner for Hardee Street Apartments (700 N Hardee Street, Durham, NC 27703) and Willard Street Apartments in Durham. Raleigh and Durham-based nonprofit.
• The Kaleidoscope ProjectsupportingStrategic or Co-development PartnerPartnered with DHIC Resident Services and Beacon Ridge Resident Ambassadors since April 2021, focusing on racial equity and social-emotional health of children.

Scale indicators10 records

Recent moves8 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/dhic.org
• Xx.com/dhicinc
• LinkedInlinkedin.com/company/dhic

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 DHIC