HRI

What HRI does

HRI (Homeowner's Rehab Inc.) is a non-profit community development corporation founded in 1972 and headquartered at 280 Franklin Street, Cambridge, MA. It develops and preserves affordable, income-restricted rental housing and operates a portfolio of approximately 1,700 homes across 113 unique properties in Cambridge and five other Massachusetts communities (Worcester, Lowell, Somerville, Newton, and Watertown). The organization serves low- and moderate-income residents, extremely low-income households earning at or below 30% of Area Median Income, limited-income Cambridge homeowners, and HRI-resident students pursuing higher education.

HRI's core offerings divide into four service lines: (1) affordable housing development and asset management, (2) the Home Improvement Program (HIP) providing below-market-rate loans for accessibility, aging-in-place, and energy-efficiency upgrades to limited-income homeowners, (3) community engagement programs covering housing stabilization, economic resiliency, health and wellness, and youth development, and (4) the Peter Daly Scholarship Fund for resident students. Its technical differentiator is climate-resilient construction: all new projects are built to Passive House (PHIUS) standards with full electrification, and the organization runs a $3.9 million solar PV rollout (partnered with Resonant Energy since 2021) that will cover over half of its 113 buildings by end of 2024. Finch Cambridge (98 units, opened 2020) was the first Passive House all-affordable building in Massachusetts; the organization also holds Enterprise Green Communities certification and is a co-signer to the Better Climate Challenge with a commitment to halve portfolio greenhouse gas emissions by 2032.

HRI's business model is non-profit and multi-source. Recurring revenue comes from income-restricted rental payments across ~1,700 units. Capital for development is assembled from Low-Income Housing Tax Credit equity (e.g., an $8.7M MHIC investment in 2025 for the 4 Mellen Street project), Cambridge Affordable Housing Trust, Cambridge Historical Commission, Community Preservation Act, Executive Office of Housing and Livable Communities, NeighborWorks America, and bank debt (Citizens Bank). Operating support comes from donations via GiveButter, individual giving eligible for Massachusetts Community Investment Tax Credits, and in-kind partnerships with food-security and youth-service non-profits. Distribution is direct and relationship-driven: HRI manages properties in-house, partners with the City of Cambridge and local service providers for referrals, and acquires sites from institutional sellers such as Lesley University.

Name

HRI

Legal name

Homeowner's Rehab Inc.

Website

https://homeownersrehab.org

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

11–50 employees

Short description

HRI is a Cambridge, MA-based non-profit community development corporation founded in 1972 that develops, preserves, and manages approximately 1,700 affordable homes across six Massachusetts communities, serving low- and moderate-income residents, limited-income homeowners, and resident students.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Residential Building Construction (2361), Residential Remodelers (236118)

SIC

Operators Of Apartment Buildings (6513), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Public Housing & Social Housing Development/Modernization Programs (FSALAKAH)

akta.pro secondary industries

Housing Rehabilitation, Weatherization & Home Repair Grant/Loan Programs (FSALAKAJ), Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

Keywords

• Affordable housing development
• Community development corporation
• Home improvement loans
• Passive house construction
• Resident support services

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Affordable Housing Rental Revenue: HRI develops and preserves affordable, high-quality rental housing. The organization manages a portfolio of nearly 1,700 homes, generating rental income from tenants at various income-restricted levels (including units for households at or below 30% AMI).
2. Home Improvement Program Loans: The Home Improvement Program (HIP) provides below-market-rate loans to Cambridge homeowners with limited incomes. Loans enable homeowners to add accessibility and other upgrades, age in place, and preserve property value.
3. Grant Funding and Tax Credits: HRI receives funding through Cambridge Affordable Housing Trust, Cambridge Historical Commission, Community Preservation Act, and other government/corporate sources. The organization also benefits from Low-Income Housing Tax Credits (LIHTC) for development projects.
4. Donations and Charitable Contributions: HRI accepts donations from individuals and organizations. Gifts of $1,000 or more are eligible for Massachusetts Community Investment Tax Credits.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

HRI (Homeowner's Rehab Inc.) develops and preserves affordable, high-quality rental housing for low- and moderate-income residents, managing a portfolio of nearly 1,700 homes across 113 properties. The organization also provides a Home Improvement Program offering below-market-rate loans to limited-income Cambridge homeowners for accessibility and energy-efficiency upgrades, and runs community engagement programs covering housing stability, economic resiliency, health, and youth development.

Product overview

HRI (Homeowner's Rehab Inc.) is a community development corporation offering a portfolio of housing-related programs and services, not a unified technology product. Core offerings include affordable housing development and preservation (nearly 1,700 homes), the Home Improvement Program (HIP) providing below-market loans to limited-income homeowners, community engagement services (housing stabilization, economic resiliency, health & wellness, youth development), and green building initiatives through Passive House construction. HRI also manages the Peter Daly Scholarship Fund for resident education. The organization operates primarily in Cambridge, MA and five surrounding communities.

Differentiator

Problem solved

Functional benefit

Products and services

• Housing Development and Preservation Development and preservation of affordable, high-quality rental housing. HRI owns and manages nearly 1,700 homes across Cambridge and five other Massachusetts communities (Worcester, Lowell, Somerville, Newton, and Watertown), targeting low- and moderate-income residents.
• Home Improvement Program (HIP)
• Community Engagement Programs Comprehensive resident support services including housing stabilization, economic resiliency programs, health and wellness initiatives, and youth development programs for residents of HRI properties. Includes food pantry distribution, tutoring, after-school programs, elder care referrals, and student loan/FAFA assistance.
• Finch Cambridge A 98-unit Passive House affordable rental building opened in 2020, the first all-affordable Passive House (PHIUS) building in Massachusetts. Features include airtight building envelope, continuous fresh air ventilation, electric heat pump systems, solar arrays, and low-VOC materials. Won the 2021 Sustainable Design Award from the Boston Society for Architecture.
• Peter Daly Scholarship Fund Scholarship program distributing approximately $1.7 million since 2006 for college, community college, and professional certificate programs for HRI residents, with awards ranging from $500 to $5,000 per year.
• 4 Mellen Street Development 29 new affordable homes in Cambridge's Baldwin neighborhood, combining historic preservation of the Charles Hicks Saunders House (National Register of Historic Places) with new Passive House construction. All-electric systems with 12 units reserved for households at or below 30% AMI. Site purchased from Lesley University in August 2022 with $8.7 million LIHTC equity investment from MHIC.

Quantifiable outcome

• 855 kW of solar PV energy generated annually, equivalent to energy used by 133 homes
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

15 partnerships are on record, tiered core.

• Resonant EnergycoreTechnology or Integration · 1 January 2021Since 2021, HRI has partnered with Resonant Energy to install solar PV arrays at properties HRI owns. The partnership reviewed HRI's 113-building portfolio to identify unused roof space for solar installations.
• Lesley UniversitycoreOthersHRI purchased the 4 Mellen Street site from Lesley University in August 2022. The site includes the Charles Hicks Saunders House, a historic landmark on the National Register of Historic Places.
• Mass Clean Energy Center (CEC)coreStrategic or Co-development PartnerHRI joined Mass CEC's Triple Decker Challenge to renovate properties including the 171-173 Columbia St. project with deep energy retrofit and all-electric conversion.
• Zero Energy DesigncoreTechnology or IntegrationWorked with Zero Energy Design to plan the deep energy retrofit and all-electric conversion for the 171-173 Columbia St. renovation project.
• Massachusetts LISC - STAR Solar ProgramcoreStrategic or Co-development PartnerHRI participates in Massachusetts LISC's STAR Solar Program. Through STAR Solar, eligible low-income residents receive credits on their utility bills when HRI's solar arrays produce more electricity than used on site. 18 households signed up with combined potential return of $84,000 per year.
• Local Food Security Partner AgenciescoreStrategic or Co-development PartnerHRI runs market-style food pantry events with local food security partner agencies including Foodlink MA.
• Food For FreecoreStrategic or Co-development PartnerHRI distributes boxes to homebound households in partnership with Food For Free.
• Tutoring PluscoreStrategic or Co-development PartnerHRI has developed partnerships with Tutoring Plus to provide free one-on-one tutoring for youth in HRI's housing portfolio.
• Steadfast SolutionscoreStrategic or Co-development PartnerPartnership with Steadfast Solutions provides after-school and summer programs for youth in HRI's housing portfolio.
• Somerville-Cambridge Elder ServicescoreStrategic or Co-development PartnerHRI works closely with Somerville-Cambridge Elder Services to provide information and referrals for in-home care and local resources for older adults.
• PACE ProgramcoreStrategic or Co-development PartnerHRI partners with the PACE program (through Cambridge Health Alliance) to provide services for older adults.
• Cambridge Council on AgingcoreStrategic or Co-development PartnerHRI works with the Cambridge Council on Aging to provide information and referrals for in-home care and local resources for older adults.
• Free Student Loan Workshops and FAFSA Assistance PartnerscoreStrategic or Co-development PartnerThrough partner organizations, HRI offers free student loan workshops and FAFSA application assistance for residents.
• Cambridge Multi-Service CentercoreStrategic or Co-development PartnerHRI's community engagement team worked with Cambridge Multi-Service Center to help resident Ranjana replace lost green card and restart housing and public benefits.
• Cambridge Economic Opportunity CommitteecoreStrategic or Co-development PartnerHRI partnered with Cambridge Economic Opportunity Committee to assist resident Ranjana with benefit restoration.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• The Community Builders: Large non-profit developer and operator of affordable and mixed-income housing with deep Massachusetts presence. Comparable in developing and operating affordable rental housing using LIHTC and public funding, but at substantially larger scale than HRI.
• Beacon Communities: Boston-based affordable housing developer and property manager with a large Massachusetts and national portfolio. Directly comparable to HRI as a mission-driven affordable housing operator using LIHTC and mixed-finance developments.
• Preservation of Affordable Housing (POAH): National non-profit that preserves and operates affordable rental housing, with significant Massachusetts portfolio. Comparable to HRI in mission and LIHTC-driven operating model, though larger and more geographically diversified.
• Just A Start: Cambridge, MA-based non-profit CDC that develops affordable housing, provides homeownership pathways, and runs resident support programs. Highly comparable to HRI in mission, geography, and resident-service orientation.
• Habitat for Humanity Greater Boston: Local affiliate of a national non-profit building affordable homeownership opportunities for low-income families in Greater Boston. Comparable to HRI in mission and homeowner-support orientation, though focused on for-sale rather than rental housing.
• HomeStart: Greater Boston non-profit focused on homelessness prevention and affordable housing, including homeownership pathways. Comparable to HRI in addressing housing instability for low-income households in Massachusetts, though with a different mix of programs.
• Madison Park Development Corporation: Boston-based non-profit CDC developing affordable housing and providing workforce/economic development services in Roxbury. Comparable to HRI as a Massachusetts CDC combining affordable real estate development with resident services.
• B'nai B'rith Housing New England: New England non-profit affordable housing developer serving Greater Boston. Comparable to HRI in developing income-restricted rental housing for low-income and vulnerable populations using LIHTC and public subsidies.

Broad incumbents

• Enterprise Community Partners: National non-profit affordable housing developer, investor, and policy advocate. Comparable to HRI through its Enterprise Green Communities framework (which HRI certifies to), but operates as a much broader incumbent spanning investment, development, and policy.
• WinnCompanies: Major Boston-headquartered residential housing owner/manager with a substantial affordable housing portfolio managed through its WinnResidential arm. Comparable to HRI's property management and affordable housing focus but operates as a large for-profit incumbent across multiple segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/HRICNAHS
• Instagraminstagram.com/hri_housing

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 HRI