What Novin Development does

Novin Development Corp. (NDC) is a privately held, vertically integrated California real estate development firm founded in 2004 and headquartered in Walnut Creek. The company operates three service lines: Development Services (large urban infill and multifamily transit-oriented developments, typically in joint venture with property owners and qualified partners), NDC Brokerage (off-market real estate acquisitions supported by a custom GIS mapping platform, ProforMap.com, which analyzes zoning, ownership, transit, and demographic data across California), and NDC Consulting (acquisition, feasibility, and project management services to for-profit, non-profit, and government clients, with a specialty in inclusionary housing compliance). The company currently owns and manages a 330-unit apartment portfolio plus 90,000 square feet of commercial space, holds a 100% equity stake in that portfolio, and reports more than 9,000 multifamily units and $3.5B in project value across its principals' careers.

The business model is a mix of development fees and equity participation on owned and joint-ventured projects, transaction-based brokerage commissions, and professional-services consulting fees. The firm pursues competitive public-sector RFPs (BART, VTA, municipal housing agencies) and forms co-development partnerships with both for-profit builders (Brookfield Residential, Lennar) and mission-driven non-profits (MidPen Housing, SFHDC, Christian Church Homes, Lincoln Avenue Capital). The customer base is concentrated in California, with a Bay Area core and selective Southern California and Lake Tahoe activity. Recent activity (2023-2025) shows four project completions in 2023 and three new project starts in 2025, including a 140-unit mixed-income development in Santa Cruz and 80 units of deeply affordable permanent supportive housing in Antioch under California SB4, supported by a range of state and local funding sources including HCD Homekey, Prop 1C, CalHFA MIP, and Freddie Mac. The firm operates with fewer than 20 employees.

Name

Novin Development

Legal name

Novin Development Corp.

Website

https://novindevelopment.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Novin Development is a privately held Walnut Creek-based real estate firm providing development, consulting, and brokerage services for affordable, mixed-income, and transit-oriented multifamily housing projects across California, with a 330-unit owned portfolio.

Ownership category

akta.pro rank

Headquarters

HQ city

Walnut Creek

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Development Fees and Equity Returns: Novin Development Corp. and Novin Investments own and manage 330 apartment units and 90,000 square feet of commercial space. The company is a long-term property owner with 100% equity ownership stake in current portfolio. Development arm creates returns through development fees, equity participation, and long-term asset ownership.
2. Consulting Services: Provides acquisition, feasibility and project management expertise to for-profit, non-profit and government clients across California. Includes inclusionary housing consulting and tech partnerships.
3. Brokerage Services: Real estate brokerage using the latest technology in acquisitions. Uses custom mapping and GIS tools to analyze market conditions and create off-market acquisition strategies for clients.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Novin Development Corp. (NDC) is a real estate sponsor and developer of large multifamily and transit-oriented development projects, primarily urban infill mixed-income and affordable housing in the Bay Area and broader California. Beyond development, the firm runs two adjacent service lines: NDC Brokerage, which uses custom GIS mapping technology to source off-market acquisition opportunities, and NDC Consulting, which provides acquisition, feasibility, and project management expertise to for-profit, non-profit, and government clients.

Product overview

Novin Development Corp. (NDC) operates three core service lines: Development Services for large-scale multifamily and transit-oriented development projects, NDC Brokerage for technology-enabled real estate acquisition using custom GIS mapping tools, and NDC Consulting providing acquisition, feasibility, and project management expertise. The company targets urban infill areas in the Bay Area with mixed-income and affordable housing projects, maintaining a portfolio of owned properties alongside development pipeline services. The company also references its PropTech platform ProforMap.com as a technology tool supporting its operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services Vertically integrated development of large urban infill and multifamily transit-oriented development properties, including acquisition, entitlement, financing, construction, leasing, sales, and ongoing property management. Targets for-profit developers, non-profits, transit agencies, and municipalities across California with a focus on mixed-income, affordable, and TOD projects.
• NDC Brokerage Real estate brokerage services that leverage custom mapping, GIS, and a large California database of zoning, land use, transit, demographic, and property ownership data to identify and execute off-market acquisition strategies for clients.
• NDC Consulting Acquisition, feasibility analysis, and project management consulting services provided to for-profit developers, non-profit housing organizations, and government clients across California, including inclusionary housing strategy and tech partnerships.

Quantifiable outcome

• $150M+ worth of real estate acquired and repositioned in the Bay Area
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Brookfield ResidentialcoreStrategic or Co-development Partner · 10 January 2019NDC partnered with Brookfield Residential in a competitive selection process where BART awarded exclusive negotiating rights for the North Concord/Martinez BART Station transit-oriented development. The partnership was selected for an initial 24-month period with possible 24-month extension.
• San Francisco Housing Development CorporationcoreStrategic or Co-development PartnerPartnership on San Francisco Small Sites Program preservation projects including 938 Geary Street (33 units) and 528 Natoma Street (4 units). SFHDC is a mission-driven organization focused on financial opportunity and stability through affordable housing development.
• Lincoln Avenue CapitalcoreStrategic or Co-development PartnerPartnership on Surfside Apartments in Alameda, a 53-unit workforce housing preservation project addressing the missing middle in Alameda, CA.
• Christian Church HomescoreStrategic or Co-development PartnerPartnership on 603 A Street senior housing development in Hayward - an 80-unit transit-oriented project adjacent to Hayward BART station, approved under SB 35.
• Grace Bible Fellowship of AntiochcoreStrategic or Co-development PartnerFaith-based partnership for Grace Commons (80-unit deeply affordable permanent supportive housing) on church property at 3415 Oakley Road in Antioch, an early example of SB4 implementation.
• SMR Development LLCminorStrategic or Co-development PartnerDevelopment partner on Lake Tahoe Blvd Apartments (73 units) in South Lake Tahoe.
• Trinity CentercoreImplementation/ SI/ Consulting PartnerService provider for The Post Apartments (71 units in Pleasant Hill) providing case management, peer support, substance use services, employment services, and education services to special needs population residents.
• Abode ServicescoreImplementation/ SI/ Consulting PartnerService provider for Park Haven Plaza (36 units in Soquel) providing robust direct services team for formerly homeless veterans, transition-aged youth, and homeless families.
• Housing ChoicescoreImplementation/ SI/ Consulting PartnerService provider for 3051 Edison Way project serving intellectually and developmentally disabled (I/DD) residents.
• Insight HousingcoreImplementation/ SI/ Consulting PartnerService provider for Civic Center Apartments (49 units in Richmond) and 831 Water Street (140 units in Santa Cruz), providing supportive housing services.
• Community Housing Opportunities CorporationcoreImplementation/ SI/ Consulting PartnerService provider for 1820 Rumrill project (40 units in San Pablo) and Lake Tahoe Blvd project, providing housing services including for special needs populations.
• LennarminorStrategic or Co-development PartnerMaster developer for College Park 2,200-home master-plan community in Chino, CA where Ivy at College Park (135 apartments) satisfies Lennar's inclusionary housing requirements.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• EAH Housing: Bay Area-based nonprofit affordable housing developer with a large portfolio of multifamily and senior housing. Comparable to NDC in geographic focus, project type, and reliance on government funding programs.
• Eden Housing: Bay Area nonprofit housing developer focused on affordable multifamily and mixed-income communities. Senior NDC development manager Samarth Kohli previously managed mixed-income projects at Eden, and NDC shares Eden's focus on TOD and inclusionary housing.
• Linc Housing: California nonprofit affordable and workforce housing developer. NDC VP of Development Ryan Querubin was previously Director of Acquisitions at Linc Housing, reflecting close operational and strategic alignment.
• BRIDGE Housing: One of the largest nonprofit developers of affordable and mixed-income housing in California. Highly comparable to NDC given shared focus on multifamily, mixed-income, and TOD projects; multiple NDC leaders previously held senior roles at BRIDGE.
• Mercy Housing: National nonprofit affordable housing developer with significant California operations. Comparable to NDC in multifamily mixed-income development and reliance on public-private financing structures.
• MidPen Housing: Leading Bay Area nonprofit affordable housing developer with deep expertise in multifamily and mixed-income projects. NDC CEO Iman Novin was previously Director of Acquisitions at MidPen, indicating overlapping operating model and client base.

Broad incumbents

• Brookfield Residential: Large master-planned community and multifamily developer that is a JV partner with NDC on North Concord BART TOD. Comparable in that it pursues TOD and inclusionary housing, but operates as a much larger for-profit developer.
• The Related Companies: Large national developer with extensive affordable and mixed-income housing operations across multiple states. Comparable to NDC in product type and public-private partnership approach, though operates at materially greater scale.

Others

• Abode Services: Bay Area nonprofit providing supportive housing services and operating permanent supportive housing projects. Comparable to NDC in targeting homeless and special needs populations through partnerships with affordable housing developers.
• Enterprise Community Partners: National nonprofit that provides equity, loans, and development expertise for affordable housing. Enterprise is a financial partner to NDC (provided $10.3M for The Post Apartments) and shares a focus on affordable multifamily development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/in/imannovin
• Facebookfacebook.com/NovinDevelopment

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Novin Development