Comcap Partners

What Comcap Partners does

ComCap Partners is a Memphis-based, family-owned boutique real estate development firm founded in 1999 by Archie Willis III (originally as Community Capital, dba ComCap Partners). The firm provides development consulting, financial advisory, and co-development services for affordable housing, mixed-income multifamily, and community revitalization projects, plus historically municipal finance advisory (tax-exempt and taxable bond issuance) until the retirement of practice lead Pamela Clary in 2022. Its service stack includes Low Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) advisory, financial feasibility analysis, strategic community development consulting, and placemaking, organized around two core service lines (Affordable Housing Development and Community Development).

The firm's underlying capability is not technology-based but is built on specialized expertise in structuring complex federal and state financing programs (HOPE VI/HOPE IV, Choice Neighborhoods Initiative, LIHTC, NMTC) and on deep relationships with capital sources including CDFIs (MBS Urban Initiatives CDE, U.S. Bancorp Impact Finance, Nonprofit Finance Fund, BlueHub Capital) and public-sector partners (HUD, Memphis Housing Authority, City of Memphis Division of Housing and Community Development). Notable project outcomes include over 4,200 units of affordable housing developed through consulting, over 1,100 units co-developed on HOPE VI sites, the 712-unit Foote Park at South City redevelopment, the $72M Northside Square adaptive reuse of a former high school, the $70M Orleans Station mixed-use development, and the Central Station transportation hub master redevelopment.

The business model is professional services: project-based development fees, advisory fees on financing transactions, and co-developer economics on joint ventures with national developers (McCormack Baron Salazar, Henry Turley Company) and community development corporations (The Works Inc.). GTM is sales-led and relationship-driven, with deal flow originating from prior public-sector relationships, board affiliations of the founder, and reputation in the Memphis Mid-South market. Customer segments span low-income families, seniors, mixed-income communities, and the government and nonprofit agencies that fund and operate affordable housing programs. The firm has 6 employees, is privately held with no disclosed institutional investors, and concentrates its operations geographically in Memphis, Tennessee with no expansion outside the Mid-South region.

Name

Comcap Partners

Legal name

ComCap Partners

Website

https://comcap-partners.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

ComCap Partners is a Memphis-based, family-owned boutique real estate development firm providing affordable housing development, community development consulting, and financial advisory services to government agencies, CDCs, and private developers in the Mid-South region.

Ownership category

akta.pro rank

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Development Consulting Services: Providing development consulting and financial advisory services for affordable housing and community development projects. Revenue generated through professional service fees for financing solutions and development expertise.
2. Real Estate Development: Co-developing affordable housing and mixed-income multifamily housing projects. Revenue generated through development fees and partnership arrangements with developers and government agencies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

ComCap Partners is a boutique real estate development and financial advisory firm that provides development consulting, financial advisory, and co-development services for affordable housing, mixed-income, and mixed-use community development projects. The firm secures complex financing solutions, including Low Income Housing Tax Credits (LIHTC) and New Markets Tax Credits (NMTC), for government agencies, nonprofit community organizations, and private developers in the Memphis/Mid-South region. It also advises governmental entities on the issuance of tax-exempt and taxable bonds.

Product overview

ComCap Partners is a boutique real estate development firm offering a unified set of services centered on affordable housing development, community development, and municipal finance advisory. The core service offerings include Affordable Housing Development (with Low Income Housing Tax Credit advisory) and Community Development (encompassing strategic placemaking, New Markets Tax Credit advisory, and financial feasibility analysis). The firm operates various development projects including Northside Square (adaptive reuse of high school into mixed-use community hub), Foote Park at South City (712-unit mixed-income housing), Orleans Station (372-unit residential with retail), Central Station (transportation hub redevelopment), Renaissance at Steele (146-unit affordable apartments), Peach Tree Senior Development (79-unit senior housing), Porter Jr. Hi. (early childhood education center), and manages comprehensive initiatives like the South City Choice Neighborhoods Initiative and Frayser Neighborhood Initiative.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Housing Development

Quantifiable outcome

• Over 4,200 units of affordable housing developed through consulting and advisory services
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 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 flagship, core, major and minor.

• McCormack Baron SalazarflagshipStrategic or Co-development PartnerNational real estate development company partnered with ComCap for South City Choice Neighborhoods Initiative (Foote Park at South City - 712 units) and multiple HOPE VI projects including Legends Park, University Place, and McKinley Park.
• The Works Inc.coreStrategic or Co-development PartnerCommunity development corporation partnering with ComCap on Frayser Neighborhood Initiative, including co-development of Renaissance at Steele (146-unit affordable housing) and Peach Tree Senior Development (79-unit senior housing).
• Henry Turley CompanycoreStrategic or Co-development PartnerLocal development company partnered with ComCap for Central Station redevelopment (master developer) and Orleans Station mixed-use development (372 units, 16,000 sq ft retail) in Memphis Medical District.
• Memphis Area Transit Authority (MATA)coreStrategic or Co-development PartnerPartnered with ComCap and Henry Turley Company to redevelop Central Station transportation hub into mixed-use complex including South Line Apartments, Powerhouse Cinema, and Central Station Memphis hotel.
• Penrose Properties and Duvernay + BrooksmajorStrategic or Co-development PartnerPartnership for Cleaborn Pointe at Heritage Landing HOPE IV redevelopment of Cleaborn Homes public housing into 362 modern mixed-income rental units ($60 million project).
• University of Tennessee Health Science Center (UTHSC)coreStrategic or Co-development PartnerCollaborated with ComCap and Henry Turley Company on Orleans Station development on UTHSC campus, bringing 372 residential units and retail to the Medical District.
• Neighborhood Preservation Inc.minorStrategic or Co-development PartnerPartnered with ComCap and The Works Inc. on anchor-based strategy for Frayser Neighborhood Initiative targeting blighted properties within one-mile radius of neighborhood schools.
• City of Memphis Division of Housing and Community DevelopmentflagshipStrategic or Co-development PartnerLead partner for South City Choice Neighborhoods Initiative neighborhood component, with ComCap implementing housing and neighborhood projects including early childhood education center, Family Resource Center, and park improvements.
• Memphis Housing AuthorityflagshipStrategic or Co-development PartnerPartner in South City Choice Neighborhoods Initiative and Porter Jr. Hi. redevelopment, working with U.S. Department of Housing and Urban Development on transformative public housing redevelopment projects.

Scale indicators16 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BRIDGE Housing: West-coast nonprofit affordable housing developer. Comparable on HOPE VI / public housing redevelopment and mixed-income community scale, with broader geographic reach — relevant as an analogue for where ComCap could grow if it expands beyond Memphis.
• Jonathan Rose Companies: Mission-driven real estate firm focused on affordable and mixed-income housing across multiple U.S. metros. Overlap is on LIHTC/NHTC structuring, mixed-use TOD, and adaptive reuse (e.g., former schools) — directly relevant to ComCap's Northside Square and Central Station projects.

Direct peers

• The NRP Group: Cleveland-based national multifamily and affordable housing developer. Comparable in mixed-income product type and LIHTC-driven capital stack, with similar ability to deliver 300–700+ unit master-planned communities funded by layered tax credits.
• The Community Builders: National nonprofit developer of affordable and mixed-income housing operating in multiple cities. Comparable in mission and reliance on LIHTC/HUD programs; competes with ComCap for federal set-asides and Choice Neighborhoods-style grants in mid-size metros.
• Henry Turley Company: Memphis-based master developer of large-scale, mixed-use, transit-oriented projects (Central Station, Memphis Medical District). Local co-development partner of ComCap and its closest direct competitor for the same Memphis infill deals.
• McCormack Baron Salazar: National affordable housing and community development firm headquartered in St. Louis. Directly comparable as a co-development partner on HOPE VI, Choice Neighborhoods, and mixed-income projects — McCormack Baron Salazar is both a partner and a competitor for the same federal financing pool ComCap accesses.

Others

• BlueHub Capital: Boston-based community development financial institution (CDFI) providing NMTC and LIHTC equity. Archie's advisory board seat makes it a financing counterparty; included as a peer because CDFIs are a key capital-stack layer ComCap orchestrates on every major project.
• Nonprofit Finance Fund: National CDFI providing financing and advisory to nonprofits and community developers. Comparable as a co-financier on the $17.5M South City NMTC deal and represents the type of mission-aligned capital source ComCap assembles for community-based sponsors.
• U.S. Bancorp Impact Finance: National NMTC allocator and LIHTC equity investor operated by U.S. Bank. Included as a peer because it is both a financing counterparty on ComCap's South City NMTC deal and a representative institutional capital allocator ComCap must continually cultivate for future projects.

Regional players

• The Works Inc. Memphis-based community development corporation operating the Frayser Neighborhood Initiative. Co-development partner of ComCap on Renaissance at Steele and Peach Tree Senior; comparable as a CDC-led, anchor-based strategy for disinvested neighborhoods.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Comcap Partners