Amcal
AMCAL is a privately-held, family-owned multi-family housing developer founded in 1978, building affordable, student, market-rate, and workforce rental communities across California, Texas, and Washington via integrated in-house development, financing, and construction.
- Company typePrivate
- Founded1978
- HeadquartersAgoura Hills, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Amcal does
AMCAL Multi-Housing, Inc. is a privately-held, family-owned multi-family real estate developer founded in 1978 by Percival Vaz and Lux Vaz and headquartered in Agoura Hills, California. The company designs, finances, develops, constructs, and asset-manages rental housing communities across four product lines — affordable, student, market-rate, and workforce — operating in California, Texas (via the AMTEX subsidiary), and Washington (via the AMWA affiliate). The portfolio exceeds 14,000 completed multi-family units and more than $2.5 billion in total development value across 70+ public-private partnerships, supported by $900M+ in cumulative tax credit equity raised.
The company's underlying capability is integrated vertical execution: every project is staffed with an in-house project manager, construction manager, and asset manager rather than relying on outsourced construction supervision. AMCAL has built to LEED Silver standards since 2007 and is pursuing Net Zero energy design, with disclosed certifications including five Platinum, eight Gold, four Silver, and three Green Point ratings. Resident services are delivered through the Partnership for HOPE program with nonprofit partner LifeSTEPS.
Revenue is generated through a mix of rental income from completed and retained properties, developer fees on partnership projects, and asset management fees. Affordable housing is financed primarily via Low-Income Housing Tax Credits (LIHTC), supplemented by HUD 221(d)(4) programs, tax-exempt bonds, and construction lending from institutions including Bank of America, JPMorgan Chase, Greystone, Hudson Housing Capital, and Citi Community Capital. Pricing is income-tiered: affordable rents are structured to AMI bands (30–60% for low-income, 60–120% for workforce), student housing is leased by the bed on 50-week terms, and market-rate units command prevailing market rents. The go-to-market is enterprise field sales through direct relationships with municipalities, housing finance corporations, universities, and state entities.
Amcal firmographics
Firmographics- Name
- Amcal
- Legal name
- AMCAL
- Website
- https://amcalhousing.com
- Company type
- Private
- Founded year
- 1978
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- AMCAL is a privately-held, family-owned multi-family housing developer founded in 1978, building affordable, student, market-rate, and workforce rental communities across California, Texas, and Washington via integrated in-house development, financing, and construction.
- Ownership category
- akta.pro rank
Where Amcal is headquartered
LocationHeadquarters
- HQ city
- Agoura Hills
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Amcal business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Housing Development and Rental Income: AMCAL develops affordable, market-rate, student, and workforce rental housing communities. Revenue is generated through rental income from completed properties and potentially property sales.
- Tax Credit Financing: AMCAL utilizes Low-Income Housing Tax Credits (LIHTC) and other government incentive programs to finance affordable housing development, having raised over $900M in tax credit equity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Affordable Housing - Income-based rents |
| Subscription | Multi-year contract | Student Housing - Per bed pricing |
| Subscription | Monthly | Workforce Housing - AMI-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Amcal product offering
Product offeringCore offering
AMCAL is a multi-family real estate developer that designs, finances, builds, and manages affordable, market-rate, student, and workforce rental housing communities in California, Texas, and Washington. The company secures financing through tax credits and government partnerships, develops apartment communities in-house using LEED-certified sustainable construction practices, and manages or leases the completed properties. It also operates through regional sub-brands AMTEX (Texas) and AMWA (Washington) and has completed more than 14,000 multifamily units across 70+ public-private partnerships.
Product overview
AMCAL is a multi-family real estate development company offering a portfolio of housing products across California, Texas, and Washington. The company operates through four core housing types: Affordable Housing (serving low-income residents through government-subsidized programs and tax credit financing), Student Housing (purpose-built off-campus communities near universities), Market-Rate Housing (traditional luxury apartments), and Workforce Housing (for middle-income earners at 60-120% AMI). AMCAL also operates subsidiary brands AMTEX (for Texas markets) and AMWA (for Washington markets). The company provides comprehensive development services including land acquisition, financing, construction, and property management, with a focus on green building practices and LEED certification. The portfolio includes over 14,000 multi-family units completed across 70+ public-private partnerships.
Differentiator
Problem solved
Functional benefit
Products and services
- Affordable Housing Development
Quantifiable outcome
- 14,000+ multi-family units completed
- +5 more outcomes
Companies that use Amcal
Customer profileNamed customers8 records
Segments6 records
Ideal customer profiles3 records
Amcal technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Amcal partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Coalition for Responsible Community DevelopmentcoreLocal community-based nonprofit specializing in youth development programs, workforce and economic development, affordable housing development, and housing and supportive services. Partnership for La Prensa Libre project in Historic South Central Los Angeles.
- YMCAminorPartnership at Richcrest Apartments where YMCA provides on-site after-school enrichment programming, classes and supportive services to residents.
- SwensoncoreJoint venture partnership for The Grad San Jose - a 19-story, 260-unit student housing project one block from San Jose State University. $190 million project.
- Coleraine Capital GroupminorJoint venture partner that sourced the land and assisted with entitlement process for The Crossings student housing project near CSUS.
- LifeSTEPScoreNon-profit partner that delivers social services to residents including Skills Training and Educational Programs. Together created Partnership for HOPE (Housing Opportunities and Personal Empowerment) providing scholarships, emergency assistance, and youth enrichment serving 10,000+ residents in 44 communities.
- Fort Worth Housing SolutionscorePublic housing authority partnership for multiple affordable housing developments in Fort Worth including Campus Apartments (224 units), Alton Park, The Lee (399 units), and The Holston (520 units).
- City of HoustoncorePartnership for Richcrest Apartments (288-unit affordable housing) and other Houston developments. Working with Harris County Community Services Department on federal disaster recovery funding from Hurricane Harvey.
- Travis County Housing Finance CorporationcorePartnership for Limestone Ridge Senior Apartments (225 units) and McKinney Falls Apartments (312 units family community) in Austin, Texas.
- City of Santa AnacorePartnership for First Street Apartments (69-unit affordable housing) with $8.5 million in city funding from affordable housing funds.
- City of Long BeachcorePartnership for Las Ventanas (102-unit affordable housing) near Metro Blue Line PCH Station, with Long Beach Community Investment Company.
- Asset Campus HousingminorProperty management partner for student housing communities including The Crossings near CSUS and The Vista near CSU Stanislaus.
- FPI Management, Inc.minorProperty management partner for Cedar Pointe senior affordable housing project in Arlington, Washington.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Amcal competitors and assessment
Company assessmentDirect peers
- BRIDGE Housing Corporation: California-focused nonprofit developer of affordable and mixed-income housing, working closely with cities and counties in CA. Competes with AMCAL for the same affordable LIHTC allocations, public-private partnerships, and municipal RFPs in California.
- EAH Housing: Nonprofit affordable housing developer with a strong California and Hawaii footprint (plus expansion states), developing LIHTC-financed multifamily for families, seniors, and special needs. Directly comparable segment focus (affordable + special needs) and geography to AMCAL.
- WinnCompanies: Family-owned developer and manager of affordable, market-rate, and mixed-income multifamily housing, with deep LIHTC expertise and a footprint across multiple states. Closest scale and operating model parallel to AMCAL, including in-house property management.
- The Michaels Organization: Largest privately-held affordable housing developer in the US, developing and managing affordable, market-rate, student, and military housing. Directly comparable to AMCAL in integrated build-to-hold model, LIHTC reliance, and multi-segment portfolio across similar geographies.
- LINC Housing: Long-standing California nonprofit affordable housing developer focused on LIHTC, mixed-income, and special-needs housing in partnership with CA cities and counties. Directly comparable segment and geographic overlap, often bidding against AMCAL for city RFPs.
- The John Stewart Company: California-headquartered developer, owner, and manager of affordable and mixed-income housing with hundreds of partnerships with municipalities and housing authorities. Operates in AMCAL's core California market with similar LIHTC-driven development model.
Broad incumbents
- Related Companies: One of the largest US developers of affordable, mixed-income, market-rate, and student housing through Related Affordable and Related Build. Far larger and more diversified than AMCAL, but competing for the same large LIHTC deals and public-private developments.
- Essex Property Trust: Public multifamily REIT focused exclusively on West Coast (California, Washington) apartments. Overlaps with AMCAL's market-rate and geographic footprint but operates via a buy-and-hold REIT model rather than ground-up affordable development with LIHTC.
- Greystar Real Estate Partners: Largest US multifamily developer, operator, and investment manager across market-rate, student, and affordable housing. Much larger scale and broader geographic reach than AMCAL but competes on student housing RFPs near CA universities and increasingly on LIHTC.
- Equity Residential: Large public multifamily REIT with significant California, Washington, and select Texas exposure in market-rate apartments. Competes with AMCAL's market-rate segment for tenants and land in CA/WA but does not participate in LIHTC affordable housing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Amcal social profiles
Digital presenceAmcal financial estimates
Financial estimateRevenue estimate
Valuation estimate
Amcal leadership team
Management profileNumber of profiles
Profiles11 records
Amcal subsidiaries and ownership
Company hierarchySubsidiaries6 records
Amcal funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Amcal 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 Amcal
What does Amcal do?
AMCAL is a multi-family real estate developer that designs, finances, builds, and manages affordable, market-rate, student, and workforce rental housing communities in California, Texas, and Washington. The company secures financing through tax credits and government partnerships, develops apartment communities in-house using LEED-certified sustainable construction practices, and manages or leases the completed properties. It also operates through regional sub-brands AMTEX (Texas) and AMWA (Washington) and has completed more than 14,000 multifamily units across 70+ public-private partnerships.
Is Amcal a public or private company?
Amcal is a private company. It is classified as family owned and is currently operating.
When was Amcal founded?
Amcal was founded in 1978. It employs 51 to 100 people.
Where is Amcal based?
Amcal is headquartered in Agoura Hills, United States, in the North America region.
How does Amcal make money?
Two revenue lines are on record. Housing Development and Rental Income is the primary driver. The others are tax Credit Financing.
Who are Amcal's main competitors?
Direct peers on record are BRIDGE Housing Corporation, EAH Housing, WinnCompanies, The Michaels Organization, LINC Housing and The John Stewart Company. Broad incumbents are Related Companies, Essex Property Trust, Greystar Real Estate Partners and Equity Residential.
Does Amcal have an API?
No public API is recorded for Amcal.