SEBCO Development

What SEBCO Development does

SEBCO Development, Inc. is a New York State not-for-profit corporation that develops, rehabilitates, and manages affordable housing in the South Bronx and Hunts Point. Founded in 1968 by Father Louis R. Gigante as the South East Bronx Community Organization and formally incorporated in 1978, the company has built a portfolio of more than 6,000 new or rehabilitated housing units across roughly 450 buildings, including family housing (Hunts Point II, Timpson Place, Rosina Associates, Filomena Gardens), senior housing (SEBCO Houses of the Elderly, Crotona Belmont), and special-purpose facilities (Father Smith Residence and Freeman Houses homeless shelters). It also runs senior citizen center programming under contract with the NYC Department for the Aging and security services through a subsidiary called Sentry Security.

The organization's core technology is not software but real estate development, property management, and human service delivery, supported by a standard WordPress website, PDF-based rental applications, and conventional property management processes. Its business model blends (1) rental income from affordable housing units let to low- and moderate-income households (with a $35 application processing fee), (2) government service contracts — two NYC DHS homeless shelters and two NYC DFTA senior centers — and (3) capital stack financing for new development from HUD, NYC HPD, NYS DHCR, NYS HFA, and mission-aligned lenders such as Enterprise Foundation and LISC. The portfolio is concentrated in a single geography (the South Bronx), and the customer base is split between thousands of subsidized individual tenants and a small set of public-sector counterparties. Day-to-day operations are run by a 300+ person staff under CEO Salvatore Gigante, with a board that includes members of the Gigante family.

Name

SEBCO Development

Legal name

SEBCO Development, Inc.

Website

https://sebcodevelopment.org

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

251–500 employees

Short description

SEBCO Development is a Bronx-based non-profit affordable housing developer founded in 1968 that has built and manages 6,000+ units across 450+ buildings in the South Bronx, and operates homeless shelters and senior centers under NYC government contracts.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Other Community Housing Services (624229), Services for the Elderly and Persons with Disabilities (62412)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340), Services-Social Services (8300)

akta.pro primary industry

Housing Development, Construction & Rehabilitation Programs (BPAIANAB)

akta.pro secondary industries

Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH), Public Housing & Social Housing Development/Modernization Programs (FSALAKAH), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ)

Keywords

• Affordable housing development
• Homeless shelter services
• Senior housing programs
• Community development
• Property management

Headquarters

HQ city

Bronx

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Government Housing Contracts: SEBCO operates under government contracts with NYC Department of Homeless Services (DHS) for homeless shelters and NYC Department for the Aging (DFTA) for senior citizen centers. These government partnerships provide operational funding.
2. Affordable Housing Rentals: SEBCO rents units in their affordable housing developments to low and moderate-income residents. Application process requires a $35 processing fee.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

SEBCO Development is a non-profit corporation that develops, rehabilitates, and manages affordable housing in the South Bronx and Hunts Point communities. The organization has built or rehabilitated over 6,000 housing units across approximately 450 buildings, operates two homeless shelters under contract with NYC DHS, and runs two senior citizen centers under contract with NYC DFTA. It also provides property management and rental application services to low- and moderate-income residents.

Product overview

SEBCO Development is a non-profit affordable housing development and property management organization serving the South Bronx and Hunts Point communities. The organization operates as a unified portfolio of housing development services rather than a technology product platform. Its core offerings include: (1) development and construction of affordable housing units across approximately 450 buildings totaling over 6,000 units, ranging from senior housing (Crotona Belmont, SEBCO Houses of the Elderly) to family housing (Rosina Associates, Filomena Gardens, Timpson Place, Hunts Point II) and special-purpose facilities; (2) operation of homeless shelters under NYC DHS contract, including Father Smith Residence (single men) and Freeman Houses (families); (3) senior citizen center programs under NYC DFTA contract; and (4) property rental application management services. The portfolio includes both newly constructed and rehabilitated properties developed over more than 50 years, with properties ranging from 32 units (Willis Avenue) to 416+ units (Hunts Point II). SEBCO also provides security services through its subsidiary Sentry Security. The organization functions as a traditional real estate development non-profit rather than a technology product company, with no SaaS platform, API, or software products.

Differentiator

Problem solved

Functional benefit

Products and services

• Crotona Belmont Senior housing development of 134 units in the Crotona Belmont area of the Bronx, currently under construction as part of SEBCO's ongoing affordable housing development. Targeted at senior citizens seeking affordable housing.
• Hunts Point II Multi-property housing development in the Hunts Point area with 416-429 units across multiple addresses including Casanova Street and Lafayette Avenue properties. Provides affordable family housing in the South Bronx.
• Timpson Place
• Rosina Associates Housing development with 109 units across multiple properties including Barretto Street, East 163rd Street, Intervale Avenue, and Southern Boulevard locations. Developed in 2004 as affordable housing.
• Sister Thomas Apartments Affordable housing development with 105 units developed in 2008, providing residential housing in the South Bronx community.
• Father Smith Residence - DHS Single Men Shelter Single men shelter operated under contract with NYC Department of Homeless Services (DHS), providing 56 units of shelter housing developed in 2011. Serves homeless single men in the South Bronx.
• Freeman Houses - Family Shelter
• SEBCO Houses of the Elderly Senior citizen housing development serving elderly residents, developed in 1985 as part of SEBCO's commitment to housing across age demographics. Provides affordable housing for senior citizens in the South Bronx.
• DFTA Senior Program
• Apartment Rental Application Services
• Parkview Houses Housing development project with 120 units, developed in 1993 as part of SEBCO's early housing revitalization efforts in the South Bronx.
• Filomena Gardens Housing development with 77 units developed in 2000, part of SEBCO's portfolio of affordable housing properties.
• SEBCO VIP

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• NYC Department of Homeless Services (DHS)coreStrategic or Co-development PartnerDHS contracts with SEBCO to operate two homeless shelters (Father Smith Residence for single men, Freeman Houses for families). SEBCO develops and manages these shelter facilities under government contract.
• NYC Department for the Aging (DFTA)coreStrategic or Co-development PartnerDFTA contracts with SEBCO to operate two senior citizen centers. SEBCO provides programming and services for elderly residents under this government partnership.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• HELP USA: NYC-based nonprofit operating homeless shelters and supportive housing under city contracts, mirroring SEBCO's DHS-shelter + affordable housing model. Scaled comparable operator with similar NYC government contract dependence.
• Breaking Ground: Nonprofit developer and operator of supportive and affordable housing in NYC, including homeless residences. Operates city-contracted shelters and housing, directly comparable to SEBCO's combined development + shelter operations.
• Project Renewal: NYC nonprofit providing housing, employment, and healthcare services to homeless and low-income individuals. Closely matches SEBCO's supportive-services-bundled-with-housing model under NYC government contracts.
• Lantern Community Services: NYC nonprofit operator of supportive housing for vulnerable populations including those with mental health and HIV/AIDS needs. Comparable to SEBCO's supportive-services approach within affordable housing.
• WIN (Women in Need): One of NYC's largest family shelter operators under NYC DHS contracts, also running affordable housing programs. Direct comparable in shelter + housing delivery and government-contract revenue model.
• The Doe Fund: NYC nonprofit providing transitional housing, workforce development, and supportive services for homeless individuals. Comparable city-contracted shelter operator with bundled services.

Broad incumbents

• L+M Development Partners: One of NYC's largest affordable and mixed-income housing developers, working closely with HPD, HFA, and HUD. For-profit comparable in scale and Bronx/NYC focus, but with broader financing access.
• Enterprise Community Partners: National nonprofit developer/funder of affordable housing. Already a major SEBCO funder — they are an ecosystem partner/incumbent at greater scale across many US markets.
• Community Preservation Corporation (CPC): NYC-based nonprofit CDFI financing affordable and multifamily housing. As a financing partner analog to HUD/HPD deals that SEBCO accesses, comparable but at the capital-provider layer rather than developer/operator.

Emerging players

• The NHP Foundation: NYC-based nonprofit developing and preserving affordable and mixed-income housing. Smaller-scale nonprofit housing developer, comparable mission and funding model (LIHTC, HPD, HFA).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sebco-development-inc
• Instagraminstagram.com/sebcodevelopmentinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 SEBCO Development