Name

Norwood Development Group

Legal name

Norwood Development Group

Website

https://norwood.dev

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (23721), Land Subdivision (237210)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Multifamily Apartment Property Management (BPAJAFAA), Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI)

Keywords

• Real estate development
• Multifamily apartments
• Master-planned communities
• Commercial leasing
• Property management

Headquarters

HQ city

Colorado Springs

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Apartment Rental Income: Revenue from leasing multifamily residential apartments including luxury urban units (333 ECO, The Mae on Cascade, VIM) and suburban garden-style properties (Lark on Woodmen, Mesa Ridge). Property management through company-operated tenant portal.
2. Commercial/Retail Leasing: Revenue from leasing retail and commercial space including First & Main Town Center, InterQuest Marketplace, and other retail properties totaling over 2 million square feet.
3. Office Space Leasing: Revenue from Class A office leasing including Plaza of the Rockies (North/South Tower), 30West in Park Union, Alamo Corporate Center, and other office properties totaling approximately 750,000+ SF.
4. Master-Planned Community Development: Revenue from development and sale of master-planned community lots and homes at Wolf Ranch, Percheron, and Banning Lewis Ranch. Partnership with custom home builders for lot sales.
5. Hospitality Development: Revenue from hotel development partnership (Catbird Hotel with Sage Hospitality Group) generating development fees and long-term hospitality revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Norwood Development Group is a real estate development and property management company that develops, owns, and operates multifamily apartment communities, commercial/retail town centers, Class A office buildings, and master-planned residential communities in the Colorado Springs/Pikes Peak region. It also delivers urban revitalization projects, permanent supportive housing, and hospitality developments in partnership with public agencies, nonprofits, and operators. Revenue is generated primarily through leasing of owned properties and the sale of developed residential lots to home builders.

Product overview

Norwood Development Group operates as a diversified real estate development company offering a portfolio of apartment communities, retail/commercial properties, office buildings, master-planned communities, and hospitality developments across the Pikes Peak region. The core products include apartment communities (333 ECO, The Mae on Cascade, VIM Living, Lark on Woodmen, Mesa Ridge) providing over 1,800 residential units; retail properties (First & Main Town Center, InterQuest Marketplace, Barnes Marketplace, Shops at Percheron) totaling over 2 million SF; office spaces (30West, Plaza of the Rockies, Alamo Corporate Center, The Atrium) spanning approximately 143,000 SF; master-planned communities (Wolf Ranch, Percheron, Banning Lewis Ranch) covering over 23,000 acres; and special developments including permanent supportive housing (Greenway Flats, The Studios), the Meanwhile Block temporary activation space, and the Park Union urban neighborhood.

Differentiator

Problem solved

Functional benefit

Brands

• 333 ECO: Downtown apartment community with 169 units, opened in 2018, featuring city and mountain views, two lounges and a pool deck.
• The Mae on Cascade
• VIM Living
• Lark on Woodmen
• Mesa Ridge
• Wolf Ranch
• Percheron
• Park Union
• Meanwhile Block
• First & Main Town Center
• InterQuest Marketplace
• 30West

Products and services

• 333 ECO
• The Mae on Cascade
• VIM Living
• Lark on Woodmen
• Mesa Ridge
• First & Main Town Center
• InterQuest Marketplace
• Barnes Marketplace
• Meanwhile Block
• Wolf Ranch
• Percheron
• Banning Lewis Ranch
• Park Union
• Greenway Flats
• The Studios
• Catbird Hotel
• 30West
• Plaza of the Rockies

Quantifiable outcome

• Downtown residential population nearly doubled in 2025, growing from 2,574 to 4,860 residents with 700+ new housing units
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• Helping a HerocoreStrategic or Co-development Partner · 17 July 2025Partnership with Helping a Hero nonprofit to provide specially adapted homes for veterans. Hosted Home Blessing Ceremony for U.S. Army veteran Sergeant Travis Blackman who received a home designed specifically for his needs in the Percheron neighborhood.
• Sage Hospitality GroupflagshipStrategic or Co-development Partner · 30 September 2024Sage Hospitality Group and Norwood Development Group submitted a preliminary proposal for a new Catbird Hotel in downtown Colorado Springs at the corner of East Moreno Avenue and South Cascade Avenue. The proposed 180-room extended-stay, full-service hotel will include dining and meeting spaces. Groundbreaking expected Summer 2027, completion planned Winter 2028.
• Weidner Apartment HomesflagshipStrategic or Co-development Partner · 29 August 2024Joint partnership with Weidner Apartment Homes to establish a four-year Property Management and Real Estate Program at UCCS Downtown campus. Both companies made a $2M joint commitment ($1M each) to fund the program launching in 2025, with curriculum focusing on real estate asset management, experiential learning, and internships.
• University of Colorado Colorado Springs (UCCS)coreStrategic or Co-development Partner · 29 August 2024UCCS received $2M joint commitment from Weidner and Norwood, plus an additional $2.1M from UCCS for operations and scholarships, to establish the Property Management and Real Estate Program at UCCS Downtown campus launching 2025. The program will be housed within the UCCS College of Business.
• Springs Rescue MissioncoreStrategic or Co-development PartnerSprings Rescue Mission provides ongoing resident support services for Greenway Flats, a 65-unit permanent supportive housing residence for the chronically homeless developed and constructed by Norwood. SRM also completed renovations to The Studios (formerly 4U Motel) supporting up to 12 formerly homeless individuals.
• LennarminorStrategic or Co-development PartnerHome builder partner in the Honoring a Hero initiative, collaborating with Helping a Hero and Norwood Development Group to build homes for veterans in Percheron community.
• Custom Home Builders in Colorado SpringscoreChannel Partner/ Reseller/ DistributorNorwood has partnered with some of the best custom home builders in Colorado Springs for lot sales and development in master-planned communities including Wolf Ranch and Percheron neighborhoods.
• Colorado Springs Urban Renewal AuthoritycoreStrategic or Co-development PartnerPublic-private partnership managing urban renewal projects including Park Union neighborhood revitalization, managing the partnership between Colorado Springs Urban Renewal Authority, Colorado Springs Utilities, and El Paso County.
• Andy Scott (Scottish Sculptor)minorOthersCollaboration with world-renowned Scottish sculptor Andy Scott to create a 5,000-pound, 15-foot steel sculpture of a Percheron draft horse named 'Belle' at the Percheron planned community, symbolizing the resilient spirit of the Colorado plains.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JPI: National multifamily developer of Class A urban and suburban apartments. Closely comparable to Norwood's apartment community pipeline (333 ECO, VIM, Lark on Woodmen) in product type, lease-up velocity targets, and renter demographic focus.
• McWhinney: Colorado-based family-controlled master-planned community, multifamily and mixed-use developer (Centerra, Kinston). Geographic neighbor and direct competitor for talent, residents, and retail tenants in Northern Colorado / Front Range, mirroring Norwood's southern Colorado focus.
• Shea Properties: Family-controlled diversified developer and owner of multifamily, mixed-use, retail and office properties concentrated in the Western U.S. Closely mirrors Norwood's mix of build-to-rent apartments, retail centers and commercial leasing across a defined regional footprint.
• Continuum Partners: Denver-based developer of mixed-use, multifamily and master-planned projects including RiNo and other urban revitalization efforts. Comparable to Norwood in urban neighborhood redevelopment (Park Union), multifamily, and retail placemaking across the Colorado Front Range.
• Weidner Apartment Homes: Multifamily owner/operator with a vertically integrated acquisition, development and property management platform. Weidner is Norwood's explicit co-investor in the UCCS Property Management Program, operates similar garden-style and urban apartment assets, and competes for the same Pikes- Peak-adjacent renter demand.
• Wood Partners: National multifamily developer focused on Class A garden-style and mid-rise apartments in high-growth markets. Comparable to Norwood's apartment product line (Lark on Woodmen, VIM, The Mae on Cascade) and competes for similar renter demographics in the Western U.S.
• Crescent Communities: Private developer of master-planned communities, multifamily housing and mixed-use properties across the Sun Belt. Overlaps Norwood in master-planned community product, multifamily development, and build-to-rent operations, with comparable mid-size platform economics.

Broad incumbents

• Greystar Real Estate Partners: Largest U.S. multifamily and student-housing owner/operator/developer with global scale. While far larger than Norwood, it overlaps directly on apartment operations (similar to Norwood's 2,000+ apartment rental stream) and increasingly competes in Colorado Springs and other Pikes Peak submarkets.
• Lincoln Property Company: Vertically integrated commercial and multifamily developer and property manager operating across the U.S. Parallels Norwood's combination of office leasing (Plaza of the Rockies, 30West), multifamily and mixed-use development under one diversified platform.
• Trammell Crow Company: Large-scale commercial real estate developer active in office, industrial, life science and multifamily across major U.S. metros. Overlaps Norwood's office and master-planned development activity and could enter the Colorado Springs market for Park Union / Banning Lewis Ranch opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nor%27wood-development-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

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 Norwood Development Group