Sheldon Oak Central
Sheldon Oak Central is a non-profit housing development corporation founded in 1968 in Hartford, CT, that develops, owns, and manages affordable rental, homeownership, and senior housing across 12 properties serving 800+ low-income families, elderly residents, and at-risk populations in three Hartford neighborhoods, financed primarily through LIHTC, Section 8, and state housing trust funds.
- Company typePrivate
- Founded1968
- HeadquartersHartford, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Sheldon Oak Central does
Sheldon Oak Central, Inc. is a non-profit housing development corporation incorporated in Connecticut and headquartered at 54 South Prospect Street, Hartford, CT. Founded in 1968 by a coalition of churches as the Sheldon Oak Cooperative, the organization develops, owns, and manages affordable rental and homeownership housing for low-income families, elderly residents, Section 8 voucher holders, and at-risk populations across three Hartford neighborhoods: Northeast, Upper Albany, and Sheldon/Charter Oak. Over 57 years it has developed more than 12 properties housing 800+ households, representing over $100 million of housing development, financed substantially through federal Low-Income Housing Tax Credits, HUD Section 8 subsidies, and the Connecticut Department of Housing Housing Trust Fund.
The organization's product portfolio spans multifamily rental communities (including the 256-unit SANA Apartments, the 72-unit Sheldon Oak Apartments, and the 74-unit 4-40 Vine Street), senior and congregate housing (Bacon Congregate at 23 units, Ida B. Wells at 40 units), scattered-site family housing (Northeast Hartford Affordable Housing at 68 units across seven buildings), for-sale affordable homeownership (Rice Heights at 44 owner-occupied homes, with Habitat for Humanity building five additional), and current developments including the MLK Apartments redevelopment expanding from 64 to 155 units (groundbreaking June 2024), 42-56 Vine Street moderate rehabilitation, and the Vine Street Homeownership project. Properties are managed by Millennium Realty, which shares office space and 24/7 emergency maintenance operations with Sheldon Oak staff. Day-to-day operations run on a small 1-10 employee core team supplemented by contracted property management.
The business model combines three revenue streams: recurring rental income from income-based and subsidized units, one-time proceeds from sale of homeownership units to low- and moderate-income buyers, and tax credit equity from federal LIHTC allocations on qualifying developments. Additional funding comes from competitive grants (e.g., the 2021 Hartford Summer UNITY grant of $25,706 for youth programming) and capital from public partners including LISC Connecticut and the Connecticut DOH Housing Trust Fund. Resident services are delivered through three community centers (54 South Prospect, Johnson-Stewart at 127 Martin Street, and 4 Vine Street) and a network of nonprofit partners offering youth entrepreneurship, literacy, arts, and food security programming.
Sheldon Oak Central firmographics
Firmographics- Name
- Sheldon Oak Central
- Legal name
- Sheldon Oak Central, Inc.
- Website
- https://sheldonoak.org
- Company type
- Private
- Founded year
- 1968
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Sheldon Oak Central is a non-profit housing development corporation founded in 1968 in Hartford, CT, that develops, owns, and manages affordable rental, homeownership, and senior housing across 12 properties serving 800+ low-income families, elderly residents, and at-risk populations in three Hartford neighborhoods, financed primarily through LIHTC, Section 8, and state housing trust funds.
- Ownership category
- akta.pro rank
Sheldon Oak Central industry classification
Industry- Product category
- Affordable Housing Development
- NAICS
- Assisted Living Facilities for the Elderly (623312)
- SIC
- Real Estate Operators (No Developers) & Lessors (6510)
- akta.pro primary industry
- Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)
Keywords
Where Sheldon Oak Central is headquartered
LocationHeadquarters
- HQ city
- Hartford
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sheldon Oak Central business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Others, Marketing or Sales
Revenue model
- Rental Income: Revenue generated from renting affordable housing units across 12 properties. Units serve low-income families, elderly, and at-risk populations with rents typically set at income-based levels (e.g., 30% of income for some units).
- Homeownership Sales: Revenue from sale of homeownership units to owner-occupants, such as the 35 Vine Street homeownership project and Rice Heights (44 owner-occupied homes for low and moderate-income families).
- Federal Low-Income Housing Tax Credits: Properties financed with federal low-income housing tax credits as part of development and redevelopment projects.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Bacon Congregate - 1 Bedroom units at 30% of income |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Sheldon Oak Central product offering
Product offeringCore offering
Sheldon Oak Central develops, owns, and manages affordable rental and homeownership housing for low-income families, low-income elderly, and at-risk populations across Hartford, CT, including HUD Section 8 subsidized units. The organization operates 12+ properties totaling 800+ units, ranging from multifamily rental complexes (e.g., SANA Apartments 256 units, 4-40 Vine Street 74 units) to senior congregate housing (Bacon Congregate, Ida B. Wells) and for-sale single-family homes (Rice Heights, Vine Street Homeownership). It supplements housing with three community centers that provide resident services and youth/community programming.
Product overview
Sheldon Oak Central is a non-profit housing development corporation offering a portfolio of 12+ affordable housing properties across Hartford, CT. The portfolio includes multifamily rental housing, single-family homeownership units, and senior/supportive housing communities. Key housing communities include: 4-40 Vine Street (74 units), Bacon Congregate (23 senior units), Martin and Garden Street Housing, Northeast Hartford Affordable Housing (68 units), Rehoboth Place, Stonington Acres (45 units), Sheldon Oak Apartments (72 units), Wyllys Lisbon Apartments (35 units), Ida B. Wells (40 units), North End Gateway (57 units), Rice Heights (44 homeownership units), SANA Apartments (256 units), and MLK Apartments (being redeveloped to 155 units). Current developments include 42-56 Vine Street (42 units) and Vine Street Homeownership project. The organization also operates a network of three community centers providing resident services and community programming.
Differentiator
Problem solved
Functional benefit
Brands
- Sheldon Oak Communities: Housing development and management brand for the organization's rental properties
Products and services
- 4-40 Vine Street Nine renovated historic buildings comprising 74 affordable rental units offering gated parking, central AC, in-unit washer/dryer, dishwasher, garbage disposal, and a community room for low-income residents in Hartford's Upper Albany neighborhood.
- Bacon Congregate 23 one-bedroom units of congregate housing for low-income elderly residents, converted from the Bacon Bottling Factory, priced at 30% of household income and bundled with social and recreational services.
- Martin and Garden Street Housing Two buildings at 96-98 Martin Street and 655 Garden Street offering spacious two- and three-bedroom affordable flats with on-site parking and washer/dryer hookups for low-income families.
- Northeast Hartford Affordable Housing Seven-building, 68-unit scattered-site development of small apartment buildings and townhouses with one-, two-, and three-bedroom affordable rental units in Hartford's Northeast neighborhood.
- Rehoboth Place Quiet residential community at 39-49 Vine Street offering large back porches with water and electricity utilities included for affordable housing residents.
- Stonington Acres 45 townhouse- and apartment-style units renovated in 2016, offering two- and three-bedroom affordable apartments with new windows, cabinets, appliances, and refinished hardwood floors.
- Sheldon Oak Apartments 72 two-, three-, and four-bedroom townhouse-style affordable apartments linked to downtown Hartford by Pulaski Mall, with on-site property management.
- Wyllys Lisbon Apartments 35 two-, three-, and four-bedroom townhouse-style or flat-style affordable apartments near Colt Park, equipped with energy-efficient boilers and on-demand hot water.
- Ida B. Wells 40-unit affordable housing complex for low-income elderly men and women developed in collaboration with Phillips CME Church.
- North End Gateway 57 workforce housing units at 1450 Main Street developed as new-construction workforce housing in Hartford's North End.
- Rice Heights 44 new owner-occupied homes for low- and moderate-income families built on former Rice Heights public housing land, offering three- and four-bedroom Cape and Colonial-style homes, plus 5 additional houses completed with Habitat for Humanity (49 total).
- SANA Apartments 256-unit affordable apartment complex at 1630 Main Street in Hartford's North End, home to low- and very low-income families and elderly.
- MLK Apartments (Redevelopment) Existing 64-unit townhouse complex at 79 Van Block Ave being redeveloped in partnership with Vesta Corporation, Crosskey Architects, and Sav Enterprises into a 155-unit mixed-income community.
- 42-56 Vine Street (Predevelopment)
- Vine Street Homeownership 35 Vine Street homeownership project planned to build two two-family houses for sale to owner-occupants, built to high energy-efficiency and sustainability standards.
- Community Centers Network Three established community centers at 54 South Prospect Street, 127 Martin Street (Johnson-Stewart Community Center), and 4 Vine Street providing resident services, youth programming, community gardens, holiday gatherings, summer programs, and youth internships.
Quantifiable outcome
- Reduced police calls and arrests at 4-40 Vine Street following $24 million redevelopment
- +3 more outcomes
Companies that use Sheldon Oak Central
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Sheldon Oak Central technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Sheldon Oak Central partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- URISE Ventures (Urban Reach Institute for Student Enterprises)coreAward-winning nonprofit providing business, innovation, and entrepreneurship education for underrepresented youth, teens, and adults. Partnered with Sheldon Oak to offer 'Summer Biz Camp' - a 5-week paid program teaching entrepreneurship, financial, and career building skills to young residents.
- Summer of SolutionscoreHartford-based grassroots nonprofit focused on food security, youth leadership, community workshops on equity and inclusion, and urban farming. Partnered with Sheldon Oak on youth internship programs and community gardens, including the Hartford Summer UNITY grant program.
- Millennium RealtycoreMillennium Realty serves as the property management company for Sheldon Oak Central's properties. Their office is shared with Sheldon Oak staff at 54 South Prospect Street, handling leasing, maintenance requests, and day-to-day property operations.
- Read to GrowminorNonprofit focused on early literacy. Partnered with Sheldon Oak to build reading rooms in community centers with new, culturally appropriate books donated free to neighborhood children and families. Donated over 400 books.
- Vesta CorporationcorePartnering with Sheldon Oak on MLK Apartments redevelopment project as part of the final stage of the Sheldon/Charter Oak neighborhood revitalization.
- Crosskey ArchitectscoreArchitecture firm partnering on MLK Apartments redevelopment project, designing the new mixed-income community.
- Sav EnterprisescoreDevelopment partner on MLK Apartments redevelopment project.
- Charter Oak Cultural CenterminorArts and cultural organization providing youth programming at Sheldon Oak community centers including air-drying clay activities, birdhouse building, and ceramic painting sessions.
- Habitat for HumanityminorDevelopment partner that completed five additional houses at Rice Heights for a total of 49 owner-occupied homes for low and moderate-income families.
- Phillips CME ChurchminorCollaborated with Sheldon Oak Central to develop Ida B. Wells, a 40-unit housing complex for low-income elderly in Hartford's North End.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
Sheldon Oak Central competitors and assessment
Company assessmentDirect peers
- L+M Development Partners: L+M Development Partners is a major affordable and mixed-income housing developer with a deep portfolio of LIHTC-financed rental communities and a strong presence in the Northeast. It is comparable in core development activity (LIHTC rental redevelopment, mixed-income communities) although organized as a for-profit.
- BRIDGE Housing Corporation: BRIDGE Housing is a nonprofit affordable housing developer that builds, owns, and manages multifamily rental and senior housing, often with community development and resident services components. Its mixed-income, neighborhood revitalization focus is directly comparable to Sheldon Oak Central's Hartford model.
- Pennrose: Pennrose is a real estate developer that develops and manages affordable, mixed-income, and workforce rental housing, including properties financed with LIHTC. Its rental development and operating model closely matches Sheldon Oak Central's 12-property portfolio of LIHTC-financed communities.
- National Church Residences: National Church Residences is a faith-based nonprofit that develops and manages affordable senior housing and supportive services nationwide. Like Sheldon Oak Central (founded by a coalition of churches), it shares the faith-rooted nonprofit affordable housing developer profile, particularly relevant for Sheldon Oak's Bacon Congregate and Ida B. Wells senior properties.
- The Community Builders: The Community Builders is one of the largest nonprofit developers and operators of affordable housing in the U.S., developing and managing mixed-income rental communities with integrated resident services. It mirrors Sheldon Oak Central's nonprofit affordable housing development model at significantly larger scale.
- The NHP Foundation: The NHP Foundation is a nonprofit that develops and preserves affordable and mixed-income rental housing across the U.S. with integrated resident services. Its nonprofit rental housing development mission and LIHTC-heavy portfolio is directly analogous to Sheldon Oak Central's.
- Beacon Communities: Beacon Communities is an affordable housing developer and property manager that develops, owns, and operates multifamily rental communities using LIHTC and other public financing. Its development-plus-property-management model parallels Sheldon Oak's ownership and partnership with Millennium Realty.
- Preservation of Affordable Housing (POAH): POAH is a nonprofit organization that preserves and operates affordable rental housing across multiple states, often using LIHTC and project-based Section 8 subsidies. Its ownership-and-operate model for affordable multifamily housing parallels Sheldon Oak Central's structure.
Broad incumbents
- Related Companies: Related Companies is one of the largest diversified real estate developers in the U.S. with a sizable affordable housing arm (Related Affordable). It competes for LIHTC allocations and develops large mixed-income communities, but operates at a far larger scale and across many asset classes beyond affordable housing.
- WinnCompanies: WinnCompanies is a multifamily developer, owner, and third-party property manager with a substantial affordable housing portfolio including LIHTC and Section 8 properties. Comparable in affordable housing management, but its property management services business is much broader than Sheldon Oak's single-city portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Sheldon Oak Central social profiles
Digital presenceSheldon Oak Central financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sheldon Oak Central leadership team
Management profileNumber of profiles
Profiles4 records
Sheldon Oak Central funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sheldon Oak Central M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sheldon Oak Central
What does Sheldon Oak Central do?
Sheldon Oak Central develops, owns, and manages affordable rental and homeownership housing for low-income families, low-income elderly, and at-risk populations across Hartford, CT, including HUD Section 8 subsidized units. The organization operates 12+ properties totaling 800+ units, ranging from multifamily rental complexes (e.g., SANA Apartments 256 units, 4-40 Vine Street 74 units) to senior congregate housing (Bacon Congregate, Ida B. Wells) and for-sale single-family homes (Rice Heights, Vine Street Homeownership). It supplements housing with three community centers that provide resident services and youth/community programming.
Is Sheldon Oak Central a public or private company?
Sheldon Oak Central is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Sheldon Oak Central founded?
Sheldon Oak Central was founded in 1968. It employs 1 to 10 people.
Where is Sheldon Oak Central based?
Sheldon Oak Central is headquartered in Hartford, United States, in the North America region.
How does Sheldon Oak Central make money?
Three revenue lines are on record. Rental Income is the primary driver. The others are homeownership Sales and federal Low-Income Housing Tax Credits.
Who are Sheldon Oak Central's main competitors?
Direct peers on record are L+M Development Partners, BRIDGE Housing Corporation, Pennrose, National Church Residences, The Community Builders, The NHP Foundation, Beacon Communities and Preservation of Affordable Housing (POAH). Broad incumbents are Related Companies and WinnCompanies.
Does Sheldon Oak Central have an API?
No public API is recorded for Sheldon Oak Central.
What industry is Sheldon Oak Central in?
Sheldon Oak Central's product category is Affordable Housing Development. Its primary akta.pro industry code is BPAJAFAD, Affordable & Subsidized Housing Property Management (LIHTC, Section 8). Its NAICS code is 623312 and its SIC code is 6510.