Landex Development

What Landex Development does

Landex Development, LLC is a family-owned real estate development company founded in 1983 by Judy Siegel and headquartered in Brentwood, Maryland. The firm specializes in the acquisition, rehabilitation, and new construction of market-rate, mixed-income, and affordable multi-family housing communities, delivered almost exclusively through public-private partnerships with federal, state, and local housing authorities. Since inception, Landex has developed more than 7,500 multi-family housing units across 11 states and Washington, D.C., with cumulative financed development value exceeding $1 billion across more than 40 projects. Core projects in the current portfolio include Artists Row (231 units, Brentwood MD), Croton Heights (265 units, Yonkers NY), Lakeview & Bel Park Towers (555 units, Baltimore), The Residences at Hampstead (adaptive reuse of an 80-year-old school), and The Gallery Lofts (adaptive reuse of the historic Hanes Textile Mill), among others.

The business operates a multi-layered financing model that stacks 8+ public and private capital sources on each deal, including Low Income Housing Tax Credits (LIHTC), HOPE VI, HUD's RAD program, HOME, CDBG, Section 108 loan guarantees, historic tax credits, and the EB-5 Immigrant Investor Program. Each development is organized through a co-development team structure integrating co-developers, architects, engineers, lenders, equity sources, legal advisors, general contractors, and community stakeholders. The firm pairs this financing sophistication with LEED-certified green building practices (Gold and Platinum certifications on multiple projects, including Residences at Thayer), historic preservation expertise (Secretary of Interior/National Park Service standards), and a community-engagement model that maintains existing residents through renovation. Revenue is generated through development fees, asset management fees, property management fees, retained rental income on owned mixed-income and affordable housing communities, and for-sale unit sales (including lease-to-own programs such as Governor Square and Springbrook Meadows).

The customer base is concentrated on government housing authorities and redevelopment agencies (HABC, DCHA, MHACY, PG County RDA, St. Petersburg HA, Montgomery County DHCA), with EagleBank as a recurring institutional lender. Leadership comprises Founder/Chairman Judy Siegel, Principal/CEO Peter Siegel (MBA Finance, GWU; 30+ years of P3 structuring), CFO Kruti Desai (since 2006), Construction Manager Mark Owens, Asset Management lead Lisa Morris (15+ years), and Project Manager Ashton McDonald (Cornell Urban Planning). The company has received Maryland Developer of the Year (2000), Charles Edson Tax Credit Excellence Award (2006), LEED Gold (Croton Heights, 2014), and multiple state-level recognitions.

Name

Landex Development

Legal name

Landex Development, LLC

Website

https://landex.org

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Landex Development is a family-owned real estate developer founded in 1983 that acquires, rehabilitates, and constructs market-rate, mixed-income, and affordable multi-family housing through public-private partnerships with government housing authorities across 11 states and Washington, D.C.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), New Housing For-Sale Builders (236117), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Other Real Estate Property (53119)

SIC

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

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Affordable Housing Property Management (BPAJAGAJ)

Keywords

• Affordable housing development
• Multifamily real estate development
• Public-private partnerships
• Mixed-income housing development
• Historic building rehabilitation

Headquarters

HQ city

Linthicum Heights

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Rental Housing Operations: Landex develops and operates multi-family housing communities generating rental income from market rate, mixed-income, and affordable housing units. The company has developed over 7,500 high-quality multi-family housing apartments for lease since its founding in 1983.
2. For-Sale Housing: Development and sale of for-sale housing units including lease-to-own programs where residents can acquire property at the completion of compliance periods. Examples include townhomes at Governor Square and single-family homes at Springbrook Meadows.
3. Development and Asset Management Fees: The company earns development fees, asset management fees, and property management fees as part of its development and partnership structures with public housing authorities and private equity investors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Landex Development acquires, rehabilitates, and constructs market-rate, mixed-income, and affordable multi-family housing communities in urban settings. The company forms public-private partnerships with housing authorities, municipal governments, and redevelopment agencies, layering multiple federal, state, and private financing sources to deliver mixed-income rental and for-sale housing projects across the United States.

Product overview

Landex Development is a real estate development company specializing in the acquisition, rehabilitation, and new construction of multi-family housing communities. The company operates through a portfolio of distinct housing development projects across multiple states, including market-rate, mixed-income, and affordable housing properties. Their core offering is not a unified software product but rather a collection of individual real estate developments (Artists Row, Croton Heights, Lakeview & Bel Park Towers, Residences at Thayer, The Avenue, The Gallery Lofts, Autumn Woods, Broadway Overlook, Chestnut Park, Circle Terrace, Cobbett School, Fort Henry Gardens, Governor Square, Hillside Park, Hilltop Village, Jordan Park, Mid City II, Riverfront Townhomes, Springbrook Meadows, The Residences at Hampstead, and Bay Ridge Gardens). The company also offers expertise in public/private partnerships and leverages various government financing programs including low-income housing tax credits, HOPE VI, and HUD's RAD program.

Differentiator

Problem solved

Functional benefit

Products and services

• Artists Row (Studio 3807 & Artisan at 4100) Mixed-use residential development in Brentwood, MD consisting of 231 apartments, approximately 10,000 square feet of street-level retail space, and 312 parking spaces, designed to LEED Gold standards with solar photovoltaic panels.
• Croton Heights Mixed-income housing community in Yonkers, NY comprising 265 apartments across four properties (Park Vista, Park Terrace, Grant Park I, Grant Park II) designed to LEED Gold standards.
• Lakeview & Bel Park Towers High-rise public housing apartment communities in Baltimore, MD totaling 555 apartments (Lakeview: 301 units, Bel Park: 254 units), renovated to LEED Silver standards.
• Residences at Thayer 52-unit four-story elevator building in Silver Spring, MD with LEED Platinum certification, featuring an e-lounge, fitness center, and public arts park.
• The Avenue 100% affordable housing community in Washington, DC with 83 apartments, 2,500 square feet of retail space (occupied by Yoga Heights), and 27 parking spaces.
• The Gallery Lofts 82-unit adaptive reuse of historic Hanes Textile Mill (1940) in Winston-Salem, NC into luxury loft apartments, using state and federal historic tax credits.
• Autumn Woods 478-unit (reduced from 647) garden apartment complex in Bladensburg, MD redeveloped using smart growth principles with a three-acre urban farm.
• Broadway Overlook 166-unit mixed-income community in Baltimore, MD redeveloped from obsolete public housing, featuring 84 low-income, 48 market-rate rental units and 34 for-sale units.
• Chestnut Park 60-unit affordable housing in East Orange, NJ created through adaptive reuse of a historic 1920s building with energy-efficient upgrades.
• Circle Terrace 303-unit apartment complex in Lansdowne, MD renovated with energy efficiency improvements including solar hot water heating and $6 million in upgrades.
• Cobbett School Adaptive reuse of historic English High School (176,000 sq ft) in Lynn, MA into affordable housing for seniors and families, with special recognition from Massachusetts Historical Society.
• Fort Henry Gardens 82-unit townhouse community in Arlington, VA renovated using eight sources of public and private financing, with conversion to owner-occupied housing at end of tax credit period.
• Governor Square 291-unit mixed-income rental community in Harrisburg, PA including 69 lease-to-own townhomes for homeownership opportunity.
• Hillside Park 94-unit mixed-income apartment complex in Baltimore, MD including 30 public housing units with community center and Cecil Barrington Community Center.
• Hilltop Village 200-unit apartment community in Jacksonville, FL with Magic Johnson/Hewlett Packard Inventor Center, Early Childhood Center with Head Start Program, and community services.
• Jordan Park 237-unit traditional neighborhood development in St. Petersburg, FL replacing 429 deteriorated units with arts and crafts style buildings, oldest public housing project in Florida.
• Mid City II 88-unit duplex infill housing development in Jersey City, NJ designed to match surrounding neighborhood architecture.
• Riverfront Townhomes 252-unit townhouse community in Baltimore, MD (reduced from 320 units) with 24 for-sale townhomes, creating mixed-income and mixed-tenured community.
• Springbrook Meadows Traditional Neighborhood Development in High Point, NC with 44 senior apartments and 118 for-sale single-family homes, featuring PGA First Tee Junior Program golf course.
• The Residences at Hampstead 88-unit senior community in Hampstead, MD created through adaptive reuse of 80-year-old elementary school with Universal Design features.
• Bay Ridge Gardens 198-unit affordable housing in Annapolis, MD renovated with energy efficiency upgrades reducing consumption by 50%, named Maryland's Green Developer of the Year.

Quantifiable outcome

• Over 7,500 multi-family housing units developed and operated since 1983
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered core, major and minor.

• Prince George's County Redevelopment Authority (RDA)coreStrategic or Co-development Partner · 1 January 2012Public/private partnership formed in 2012 to create mixed-use development at Artists Row in the Gateway Arts District. The partnership includes 231 residential apartments, approximately 10,000 square feet of street level retail space, and 312 parking spaces designed to LEED Gold standards.
• Municipal Housing Authority for the City of Yonkers (MHACY)coreStrategic or Co-development PartnerPublic/private partnership to redevelop the antiquated Mulford Gardens public housing development into Croton Heights, a collection of four properties comprising 265 mixed-income apartments achieving LEED Gold certification.
• Housing Authority of Baltimore City (HABC)coreStrategic or Co-development PartnerPartnership under HUD RAD program to redevelop Lakeview and Bel Park Towers, two high-rise public housing communities totaling 555 apartments, with $20.5 million contribution from HABC.
• Montgomery County Department of Housing and Community Affairs (DHCA)coreStrategic or Co-development PartnerPartnership to perform workout of a failed condominium development near Silver Spring, MD. The resulting Residences at Thayer includes 52 apartments with 20% set aside for households below 35% of AMI, achieving LEED Platinum certification.
• District of Columbia Housing AuthoritycoreStrategic or Co-development PartnerPartnership to develop The Avenue on Georgia Avenue in Columbia Heights, Washington DC - an 83-unit mixed-income apartment community with 2,500 sq ft retail space achieving 100% occupancy since 2011.
• Goler CDC (Community Development Corporation)majorStrategic or Co-development PartnerLocal nonprofit community development corporation partnered with Landex to renovate the historic Hanes Textile Mill building into The Gallery Lofts, a collection of 82 urban lofts using state and federal historic tax credits.
• St. Petersburg Housing AuthoritycoreStrategic or Co-development PartnerPublic/private partnership to transform Jordan Park, the oldest federal public housing project in Florida (built 1939), into 237 rental apartments in 105 new arts and crafts style buildings, with SPHA assuming ownership in 2017.
• Housing Authority of Baltimore City (HABC)coreStrategic or Co-development PartnerPartnership to revitalize Hillside Park, a crime-ridden deteriorated apartment complex in Baltimore, into 94 mixed-income apartments using innovative financing structure totaling $8.5 million.
• Massachusetts Historical SocietyminorOthersProvided special recognition for the adaptive reuse of Cobbett School (historic Old English High School) in Lynn, MA, meeting Secretary of Interior standards for National Park Service historic preservation.
• Cherry Hill Development Corporation (CHDC)majorStrategic or Co-development PartnerPartnership with local nonprofit CHDO to reduce density and redevelop Riverfront Townhomes in Baltimore into 126 townhouse apartments and 24 for-sale townhomes, with future homeownership potential.
• McDaniel CollegeminorOthersAcademic partnership for garden program at The Residences at Hampstead, partnering college students with senior residents and local elementary school third graders, recognized by U.S. Department of Interior.
• Hampstead Elementary SchoolminorOthersCommunity partnership for intergenerational garden program at The Residences at Hampstead, receiving Making America Beautiful recognition.
• Beechfield Community and Improvement AssociationminorOthersCommunity organization partnered with Landex and HABC for Hillside Park revitalization, honored Landex with Certificate of Appreciation for work in the community.
• Magic Johnson/Hewlett Packard Inventor CenterminorOthersPartnership at Autumn Woods to establish a three-acre urban farm and computer lab focused on bridging the digital divide for low and moderate income families, highlighted on NPR.
• Magic Johnson FoundationminorOthersFoundation selected Hilltop Village in Jacksonville for Magic Johnson/Hewlett Packard Inventor Center equipped with state-of-the-art computers aimed at bridging the digital divide for low-income families.
• Beechfield Community and Improvement AssociationminorOthersCommunity organization partnered with Landex for Hillside Park revitalization, honored Landex team with Certificate of Appreciation for its work in the community.

Scale indicators5 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• The NRP Group: A vertically integrated developer, owner, and operator of affordable and mixed-income multifamily housing across the U.S. Closest comparable to Landex on mission, product type, financing stack (LIHTC/RAD), and public housing authority partnerships.
• Pennrose: Developer and manager of affordable, mixed-income, and market-rate multifamily housing with deep expertise in LIHTC, RAD, and public-private partnerships. Directly comparable on business model, customer base (housing authorities), and product mix.
• The Michaels Organization: One of the largest privately held developers and managers of affordable and mixed-income housing in the U.S., with strong LIHTC capability and a national footprint. Highly comparable on customer, product type, and P3 execution.
• L+M Development Partners: Affordable and mixed-income housing developer focused on P3s with housing authorities in the Mid-Atlantic and Northeast, with LIHTC and HUD-program expertise. Directly comparable on geography, customer, and product.
• The Community Builders: Nonprofit developer and manager of affordable and mixed-income multifamily housing with national footprint and deep housing authority relationships. Comparable on mission, product, and P3 structure, though organized as a nonprofit.
• Jonathan Rose Companies: Developer and owner of affordable, mixed-income, and green multifamily housing with ESG/sustainability focus. Comparable on LEED orientation, mixed-income product, and LIHTC financing.
• BRIDGE Housing: Nonprofit affordable and mixed-income housing developer with West Coast concentration; uses LIHTC and public-private partnerships with housing authorities. Comparable on product type and P3 approach, though less active on the East Coast.

Broad incumbents

• Enterprise Community Partners: National nonprofit that both develops affordable housing and provides capital/incentives across the U.S. Overlapping in P3 affordable housing development with a much broader capital, advisory, and policy footprint than Landex.
• The Related Companies: Large national real estate developer with a substantial affordable housing arm (Related Affordable) that competes for P3 mandates with major housing authorities. Comparable on product and customer, with far greater scale and capital access.

Others

• Housing Authority of Baltimore City (HABC): Public housing authority and one of Landex's most important repeat P3 partners (Lakeview/Bel Park, Hillside Park). Included as an ecosystem counterpart — not a competitor — to illustrate the public-side counterparties Landex depends on.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/landex-corporation

Compliance17 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Landex Development