Housing Development Partners

What Housing Development Partners does

Housing Development Partners (HDP) is a nonprofit affordable housing developer and owner established in 1990 as an affiliate of the San Diego Housing Commission (SDHC). Operating exclusively within the City of San Diego, HDP develops new construction and rehabilitates existing buildings to create and preserve rental housing for low- and moderate-income San Diegans, including seniors at 30-80% of Area Median Income, low-income families, individuals experiencing homelessness or at risk of homelessness (Veterans, transition-age youth), and persons with disabilities requiring supportive services. Each property carries 55-65 year affordability restrictions enforced through regulatory agreements with SDHC, the City, and state agencies.

HDP's portfolio spans 14+ properties and over 1,709 developed units since inception, of which more than 750 are wholly owned and more than 640 are developed through partnerships with entities such as Chelsea Investment Corporation. The portfolio mixes family apartments (Mariner's Village, Knox Glen), senior housing (Courtyard Terraces, Casa Colina Del Sol, New Palace Hotel, Village North Senior), and supportive Single Room Occupancy developments (Hotel Churchill, Mason Hotel, Parker Kier, Quality Inn). Technical differentiators include LEED Silver Certification at Courtyard Terraces (solar, energy-efficient glass, low-flow plumbing, high insulation) and the first application of viscous dampers in a historic San Diego building for seismic retrofit at Hotel Churchill. Property management is outsourced to three firms (WinnCo, ConAm Management, Hyder & Company) under HDP's oversight.

HDP is staffed by SDHC employees (headcount 1-10) and governed by a five-member board appointed by SDHC. The capital model relies on stacked public and private financing: 4% and 9% Low-Income Housing Tax Credit equity from National Equity Fund, Boston Capital, and Centerline Capital; tax-exempt bond financing from Red Mortgage; conventional loans from Chase, California Community Reinvestment Corporation, Citibank, and U.S. Bank; and residual receipts loans from the Federal Home Loan Bank, Southeast Economic Development Corporation, Centre City Development Corporation, and California Housing Finance Agency. Operating revenue is generated primarily through below-market rental income on wholly owned units, with no commercial pricing or marketing channels because tenants are income-qualified through SDHC waiting lists. HDP serves as general partner in limited partnerships with co-developers and has won multiple regional awards, including consecutive Ruby Awards from the San Diego Housing Federation.

Name

Housing Development Partners

Legal name

Housing Development Partners of San Diego

Website

https://hdpartners.org

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1–10 employees

Short description

Housing Development Partners is a nonprofit affiliate of the San Diego Housing Commission that develops, rehabilitates, and owns affordable rental housing for low- and moderate-income San Diegans, including seniors, families, and individuals experiencing homelessness, across 14+ properties with 55-65 year affordability restrictions.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Residential Building Construction (2361), Lessors of Residential Buildings and Dwellings (53111)

SIC

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

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB), Independent Living Community Development & Construction (Senior Housing Developers) (HLADAAAH)

Keywords

• Affordable housing development
• Low-income housing
• Supportive housing services
• Multifamily property development
• Nonprofit housing developer

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. Rental Income: Rental revenue from affordable housing units across 14+ properties in San Diego. Units are income-restricted to renters at or below 30%-80% of Area Median Income.
2. Government Subsidies and Tax Credit Equity: Low-Income Housing Tax Credit (LIHTC) equity from investors such as National Equity Fund, Boston Capital, and Centerline Capital. Tax-exempt bond financing from entities like Red Mortgage and conventional loans from banks.
3. Partnership Development: Strategic partnerships with SDHC, Chelsea Investment Corporation, and other developers to co-develop affordable housing properties. HDP serves as general partner in limited partnerships.

Distribution channels1 record

Marketing channels2 records

Core offering

Housing Development Partners (HDP) develops and preserves affordable rental housing for low- and moderate-income San Diegans through new construction and rehabilitation of existing properties. The nonprofit operates 14 properties containing over 1,700 apartments, townhomes, and single-room occupancy units, with income restrictions typically set at 30%–80% of Area Median Income for a minimum of 55 years.

Differentiator

Problem solved

Functional benefit

Products and services

• Casa Colina Del Sol
• Courtyard Terrace Apartments An 88-unit development offering one- and two-bedroom apartments to low-income seniors in the City Heights neighborhood, featuring LEED Silver Certification and energy-saving features including solar panels.
• Hotel Churchill A 72-unit affordable supportive housing development providing studios for homeless individuals, including units for Veterans, youth aging out of foster care, and adults with supportive service needs.
• Knox Glen A 54-unit property providing two-, three-, and four-bedroom units affordable to families at 50 and 60 percent of Area Median Income.
• Mariner's Village A 172-apartment complex for families in the Skyline-Paradise Hills neighborhood featuring one-, two-, and three-bedroom apartments with amenities including an in-ground pool and garages.
• Mason Hotel A 17-unit Single Room Occupancy (SRO) supportive housing development for adults who were homeless or at risk of homelessness who need mental health services.
• New Palace Hotel An 80-unit low-rise studio apartment complex for low-income seniors at or below 30%, 50%, and 60% of Area Median Income who are at-risk of homelessness.
• Parker Kier A 34-unit apartment complex providing affordable housing with supportive services for very low-income seniors and people at risk of homelessness who need mental health services.
• Quality Inn Apartments A 92-unit SRO/studio apartment property serving homeless seniors, veterans, and mentally-disabled adults and transition-aged youth (TAY).

Quantifiable outcome

• Maintained affordability for over 1,709 units since 1990
• +1 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• San Diego Housing Commission (SDHC)coreStrategic or Co-development PartnerSDHC is the parent organization and sole source of HDP's staffing. SDHC Board of Commissioners designates HDP board members. SDHC transfers properties to HDP via ground lease and provides residual receipts loans.
• Chelsea Investment CorporationcoreStrategic or Co-development PartnerCo-development partner for Courtyard Terraces $24.5 million project for low-income seniors.
• City of San DiegocoreStrategic or Co-development PartnerCity provides SRO Ordinance and regulatory restrictions. San Diego City Council appoints Housing Authority member to HDP Board.
• WinnCominorImplementation/ SI/ Consulting PartnerProperty management company for Casa Colina, New Palace Hotel, and Quality Inn properties.
• ConAm ManagementminorImplementation/ SI/ Consulting PartnerProperty management company for Courtyard Terraces and Mariner's Village properties.
• Hyder & CompanyminorImplementation/ SI/ Consulting PartnerProperty management company for Hotel Churchill, Mason Hotel, Knox Glen, and Parker Kier properties.
• Community Research FoundationcoreStrategic or Co-development PartnerProvides supportive services and case management to MHSA tenants at Parker Kier under County of San Diego Behavioral Health Services partnership.
• Mental Health Systems Inc.coreStrategic or Co-development PartnerProvides supportive services, mental health, alcohol and drug recovery services to Parker Kier residents under County BHS partnership.
• St. Paul's Program of All-Inclusive Care for the Elderly (PACE)coreStrategic or Co-development PartnerProvides social and medical services to senior residents at Parker Kier.
• County of San Diego Behavioral Health ServicescoreStrategic or Co-development PartnerAdministers Mental Health Services Act programs and coordinates permanent housing with mental health support services for Parker Kier residents.
• Civic San DiegominorStrategic or Co-development PartnerPartner organization listed on homepage partners section.
• LISC San DiegominorStrategic or Co-development PartnerLocal Initiatives Supporting Corporation providing community development support.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Affirmed Housing Group: Affirmed Housing is a San Diego-based LIHTC developer of affordable multifamily rental housing — directly competitive with HDP in the same local market for entitlements, tax credits, and partners.
• BRIDGE Housing Corporation: BRIDGE Housing is a California-based nonprofit that develops and operates affordable rental housing using LIHTC and similar subsidy structures for low-income families, seniors, and special needs populations — a near-identical operating model to HDP.
• LINC Housing: LINC Housing is a California nonprofit affordable housing developer producing both rental and for-sale affordable housing using LIHTC and public financing — directly comparable to HDP's structure and resident segments.
• The John Stewart Company: John Stewart is a California-based affordable housing developer and property manager that develops LIHTC and supportive housing for low-income residents — comparable operating model and resident segments to HDP.
• Chelsea Investment Corporation: Chelsea is an actual co-development partner of HDP (e.g., Courtyard Terraces) and one of California's most active affordable housing developers using LIHTC. Operates at much larger scale but in an identical product category.
• EAH Housing: EAH Housing is a large California nonprofit affordable housing developer/manager that builds, acquires, and rehabilitates affordable rental properties across the state, serving similar populations to HDP using comparable subsidy tools.
• Skid Row Housing Trust: Skid Row Housing Trust is a California nonprofit developer of permanent supportive housing for homeless and special-needs populations — directly comparable to HDP's Hotel Churchill, Mason Hotel, and Parker Kier support models.

Broad incumbents

• Related California: Related California is a major California developer of both affordable and mixed-income housing, directly competing with HDP for LIHTC allocations and municipal partnerships in larger California markets.
• Mercy Housing: Mercy Housing is one of the largest U.S. nonprofit affordable housing developers, operating nationally with a broader geographic footprint and deeper services integration than HDP, but built on the same LIHTC-plus-mission model.

Others

• National Equity Fund: National Equity Fund is an actual financial partner (LIHTC syndicator) of HDP and the broader nonprofit affordable housing ecosystem — not a developer competitor, but a key counterparty in HDP's deals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Housing Development Partners