Chrisman Development

What Chrisman Development does

Chrisman Development, Inc. (CDI) is a private, family-owned affordable housing developer founded in 1989 by brothers Doug and Tony Chrisman and headquartered in Enterprise, Oregon (Wallowa County). The firm specializes in the preservation and rehabilitation of federally subsidized multifamily rental housing in rural communities across the Western United States, with active operations in Oregon, Idaho, Montana, Colorado, Arizona, and Washington. Its core competency is acquiring, recapitalizing, and rehabilitating aging USDA Rural Development, HUD, and Low-Income Housing Tax Credit (LIHTC) properties, then operating them as long-term affordable rental housing for low-income families, seniors, veterans, and people with disabilities. CDI works in close partnership with state housing finance agencies (notably Oregon Housing and Community Services), federal program administrators, nonprofit syndicators such as Enterprise Community Partners, and capital providers including PNC.

CDI's underlying capability stack combines conventional real estate development — site identification, financial structuring, and entitlement — with in-house construction management, asset management oversight, and a recently established internal Technology Department supporting property-level digital infrastructure and smart-property technology. An affiliated entity, Viridian Management, Inc., executes third-party property management. The firm is recognized as the #1 affordable housing developer in the nation by the Council for Affordable and Rural Housing (CARH) in 2024 and ranks as the 14th-largest affordable housing property owner in Oregon by Affordable Housing Finance, reflecting 82 completed rehabilitations totaling 2,862 units and $412M+ in cumulative project costs.

The business model is primarily developer fee–driven, augmented by long-term ownership economics on the stabilized portfolio, tax credit syndication fees, and asset management income. Capital for each transaction is assembled from layered federal, state, and private sources — primarily LIHTC equity, USDA Section 515/538 financing, HOME funds, and project-based rental assistance — underwritten by long-term program-based rental revenue. With no external funding activity, 27 employees, and an undisclosed but presumably modest revenue base, CDI operates as a profitable specialty developer whose economics are leveraged to federal housing program continuity rather than to technology differentiation or scalable software.

Name

Chrisman Development

Legal name

Chrisman Development, Inc.

Website

https://chrismandm.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

Chrisman Development is a family-owned rural affordable housing developer specializing in the preservation and rehabilitation of federally subsidized multifamily rental properties across the Western United States, serving low-income families, seniors, veterans, and disabled households in partnership with USDA, HUD, and state housing agencies.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Land Subdivision (2372), Services to Buildings and Dwellings (5617)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Rural, Tribal & Special-Population Housing Programs (FSALAKAL), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Affordable housing development
• Multifamily housing rehabilitation
• Rural housing preservation
• LIHTC tax credit financing
• USDA Rural Development programs

Headquarters

HQ city

Enterprise

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Fees: Earnings from developing and rehabilitating multifamily affordable housing properties, including new construction and preservation of existing properties. Revenue derived from development fees tied to project costs and successful completion of affordable housing developments.
2. Tax Credit Syndication: Revenue generated through structuring deals utilizing 9% and 4% Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, and other government-sponsored affordable housing financing programs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Chrisman Development, Inc. (CDI) develops and rehabilitates affordable multifamily housing properties in rural areas across the Western United States. Since 1989, the company has preserved 82 properties and 2,862 units by integrating complex financing structures, including 9% and 4% Low-Income Housing Tax Credits (LIHTC), USDA Rural Development 515/538 loan programs, HUD Section 8 programs, and state housing financing, while delivering energy-efficient, accessible housing for low-income families, seniors, veterans, and people with disabilities.

Product overview

Chrisman Development, Inc. (CDI) operates as an affordable multifamily housing development company with a portfolio of residential apartment properties across Oregon. The company specializes in the preservation and rehabilitation of federally subsidized affordable housing, using complex financing mechanisms including Low-Income Housing Tax Credits (LIHTC), USDA Rural Development programs, and state housing sources. CDI's portfolio consists of named apartment property series (such as Pacific Trail, Eagle Cap, Spring Garden, Glenhaven Park, Duck Country, Beaver State, and others) totaling approximately 2,862 rehabilitated units. An affiliated company, Viridian Management, handles property operations and tenant management for CDI's portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Multifamily Housing Development Portfolio Development and rehabilitation of affordable multifamily housing properties across Oregon and the Western United States, serving low-income families, seniors, veterans, and people with disabilities through preservation of federally subsidized housing at risk of conversion to market-rate rents. Includes named property series such as Pacific Trail, Eagle Cap, Spring Garden, Glenhaven Park, Duck Country, and Beaver State.
• Affordable Housing Financing Structuring Structuring of complex affordable housing financing transactions including 9% LIHTC, 4% LIHTC with tax-exempt bond financing, USDA Rural Development 515 and 538 loan programs, HOME Investment Partnerships Program, and National Housing Trust Fund, delivered to government agencies, financial institutions, and nonprofit partners.
• Energy-Efficiency and Solar Upgrade Services Installation of no-cost entry rooftop and community solar projects, along with other energy-efficiency upgrades, for affordable housing properties, achieving 40-95% energy consumption reduction. Delivered in partnership with Fleet Development.

Quantifiable outcome

• 82 properties rehabilitated since 1989
• +4 more outcomes

Named customers4 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

Partnerships

Five partnerships are on record, tiered core and strategic.

• Network for Oregon Affordable Housing (NOAH)coreStrategic or Co-development PartnerOregon-based nonprofit supporting affordable housing development and preservation in Oregon communities.
• AB Chase Construction LLCcoreImplementation/ SI/ Consulting PartnerConstruction company founded by Chrisman Development's former Construction Manager Brad Chase. Specializes in affordable housing construction and renovation with decades of experience in the Western United States.
• Fleet DevelopmentstrategicStrategic or Co-development PartnerSolar development company partnering to install no-cost entry rooftop and community solar projects for affordable housing properties. Goal to convert portfolio to renewable energy with 40-95% energy consumption reduction.
• Inner Pacific AdvantagestrategicStrategic or Co-development PartnerAsset management company specializing in acquisition, management, and disposition of affordable multifamily housing properties representing future preservation and investment opportunities.
• Viridian Management, Inc.coreStrategic or Co-development PartnerFull-service property management company specializing in affordable multifamily rental housing. Manages all properties developed by Chrisman Development. Leverages expertise in complex regulatory environment, progressive vision, conservative fiscal practices, and smart technology use.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Pennrose: Developer and operator of affordable and mixed-income multifamily housing operating across multiple states. Comparable to Chrisman in LIHTC-driven development, mixed-finance preservation, and vertical integration with property management.
• The NRP Group: National affordable multifamily housing developer, owner, and property manager using LIHTC and other public financing. Directly comparable to Chrisman in developing affordable housing through complex financing structures, with broader geographic reach.
• BRIDGE Housing: Mission-driven affordable and mixed-income multifamily housing developer and owner with LIHTC expertise. Comparable to Chrisman in producing and preserving affordable rental housing through complex public financing.
• Dominium: One of the largest affordable multifamily housing developers and owners in the United States, with a major focus on LIHTC and preservation of subsidized housing. Directly comparable to Chrisman in using LIHTC, USDA, and HUD financing to develop and rehabilitate affordable multifamily properties, though at materially larger scale.
• Preservation of Affordable Housing (POAH): Nonprofit acquirer and rehabilitator of affordable rental housing, explicitly focused on preserving at-risk subsidized properties. Directly comparable to Chrisman's preservation-focused model in rural and smaller markets.

Others

• WNC & Associates: One of the largest LIHTC syndicators in the United States, providing equity capital for affordable housing developments. Closely connected to Chrisman's financing workflow as a potential syndicator and tax credit partner for LIHTC-structured projects.

Emerging players

• National Church Residences: Nonprofit developer and operator of affordable senior housing, particularly through USDA Rural Development programs. Comparable to Chrisman in rural affordable housing and senior housing focus using USDA 515/538 financing.

Broad incumbents

• Enterprise Community Partners: National nonprofit affordable housing developer, financier, and policy advocate with CDFI capabilities. Comparable to Chrisman as a financing partner and developer of LIHTC affordable housing, but operating at a significantly larger scale and broader scope including advocacy and capital deployment.
• Mercy Housing: National nonprofit affordable housing developer and operator serving low-income families, seniors, and people with disabilities. Comparable to Chrisman in affordable housing mission and LIHTC/USDA ecosystems, but with a much broader geographic and service footprint.
• Volunteers of America National Services: National nonprofit that develops and operates affordable and supportive housing for low-income families, seniors, and veterans using LIHTC and HUD programs. Compares to Chrisman in serving similar resident populations and using comparable federal financing tools.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Chrisman Development