Connelly Builders
Connelly Builders is a family-owned South Carolina-based developer and general contractor specializing in affordable housing — workforce, senior 55+, and select conventional apartments — across the Carolinas, funded primarily through HUD, LIHTC, and state housing finance programs.
- Company typePrivate
- Founded1997
- HeadquartersLexington, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Connelly Builders does
Connelly Builders is a privately-held, family-owned real estate developer and general contractor operating through two entities — Connelly Builders, Inc. (general contracting) and Connelly Development, LLC (development and financing) — headquartered at 125 Old Chapin Rd., Lexington, South Carolina. The company specializes in affordable housing development, with a portfolio spanning three product types: income-matched Affordable Workforce Housing for working adults under 55, age-restricted Senior 55+ Housing with income-matched rents, and select market-rate Conventional luxury apartment communities. Its primary end customers are low-to-moderate-income working families, seniors on fixed incomes, and conventional renters in the Carolinas, while its principal economic counterparties are federal and state government agencies (HUD, USDA RHS 515, SC State Housing Finance & Development Authority, NC Housing Finance Authority) and federal/state tax credit syndicators.
The company generates revenue across three streams: development fees on financed projects using complex structures such as HUD 202, LIHTC 9%/4%, HOME Funds, Tax Exempt Bonds, and AHP; general contracting contracts as a licensed Unlimited General Contractor in South Carolina and North Carolina; and rental income from held properties leased through third-party managers such as Intermark Management. Pricing on affordable units is income-matched to prevent rent-burdening, while conventional units are priced at market rates. Connelly's go-to-market is relationship-driven, enterprise field sales to housing finance agencies and tax credit syndicators, supported by industry association memberships (NAHB, ICC, Building Industry Association of Central SC) and digital channels including a Now Leasing tenant pipeline.
Since 1997, Connelly has completed 54 projects totaling more than $370M in Total Development Cost. It holds Unlimited General Contracting Licenses in SC and NC with reciprocal operating rights in GA and TN, and employs roughly 25 professionals representing 100+ years of combined affordable housing and construction experience. Technology usage is limited to standard construction project management tools, and the firm does not operate a software product, API, or proprietary platform.
Connelly Builders firmographics
Firmographics- Name
- Connelly Builders
- Legal name
- Connelly Builders, Inc.
- Website
- https://connellybuilders.com
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Connelly Builders is a family-owned South Carolina-based developer and general contractor specializing in affordable housing — workforce, senior 55+, and select conventional apartments — across the Carolinas, funded primarily through HUD, LIHTC, and state housing finance programs.
- Ownership category
- akta.pro rank
Connelly Builders industry classification
Industry- Product category
- Affordable Housing Development
- NAICS
- New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (2361), Land Subdivision (2372)
- SIC
- Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)
- akta.pro primary industry
- Residential Affordable Housing Development & Construction (IMAFABAI)
- akta.pro secondary industries
- Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB), Spec/Tract Builder Construction Financing (FSALAHAC), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Connelly Builders is headquartered
LocationHeadquarters
- HQ city
- Lexington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Connelly Builders business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales
Revenue model
- Development Services: Full-service real estate development from initial concept to turnkey construction. Develops affordable housing communities using various financing structures including HUD 202, RHS 515, Federal and State Tax Credits, HOME Funds, Tax Exempt Bonds, and AHP Funds. Revenue generated through development fees, land acquisition appreciation, and property sale or hold strategy.
- General Contracting: Full-service general contracting for residential and commercial projects. Provides cost breakdowns, subcontractor negotiations, material purchasing, plan supervision, and construction management. Holds Unlimited General Contracting License in South Carolina and North Carolina. Revenue generated through construction contracts and markup on materials and labor.
- Property Rental Income: Income from leasing apartment units in developed properties. Rents matched to tenant income levels for affordable housing; market rate for conventional properties. Works with third-party property management companies for tenant acquisition and ongoing management.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Affordable Workforce Housing - Income-based pricing for working adults under 55 |
| Subscription | Monthly | Senior Housing (55+) - Income-based pricing for age-restricted communities |
| Subscription | Monthly | Conventional - Market rate pricing for luxury apartments |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Connelly Builders product offering
Product offeringCore offering
Connelly Builders is a private construction and real estate development firm that develops, finances, and builds affordable and market-rate multifamily housing. Through Connelly Builders, Inc. (general contracting) and Connelly Development, LLC (development and financing), the firm delivers full-service projects from land acquisition through turnkey construction, using complex government financing programs such as HUD 202, RHS 515, LIHTC, HOME Funds, and tax-exempt bonds. Completed properties are leased through third-party property management companies.
Product overview
Connelly Builders and Development is a construction and real estate development company specializing in quality affordable housing. The company operates through two entities: Connelly Builders, Inc. (general contracting) and Connelly Development, LLC (development). Their core product portfolio consists of three housing types: Affordable Workforce Housing (income-matched rentals for working adults under 55), Senior 55+ Housing (age-restricted communities with income-matched rents), and Conventional Apartments (market-rate luxury units with premium amenities). The company also provides development services from initial concept to turnkey construction, general contracting with extensive experience in public/private financing structures, and value engineering assistance for other developers. With over 100 years of combined industry experience, they operate primarily in South Carolina and North Carolina, having completed 54 projects with a total development cost exceeding $370 million.
Differentiator
Problem solved
Functional benefit
Products and services
- Affordable Workforce Housing
- Senior (55+) Housing
- Conventional Market-Rate Apartments
- Real Estate Development Services
- General Contracting Services
- Value Engineering Services
Quantifiable outcome
- 54 projects completed with $370,000,000+ total development cost
- +1 more outcomes
Companies that use Connelly Builders
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Connelly Builders technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Connelly Builders partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Property Management CompaniescoreThird-party property management companies that handle tenant acquisition, leasing, and ongoing property management. Example: Intermark Management manages The Carrington Apartments. Coordinated with during preconstruction for lease-up procedures.
- Intermark ManagementcoreProperty management company handling leasing for The Carrington Apartments in Zebulon, NC. Manages tenant applications and ongoing property operations.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
Connelly Builders competitors and assessment
Company assessmentDirect peers
- Pennrose: Developer and operator of affordable and mixed-income multifamily housing using LIHTC, HUD, and state/local financing — comparable in product, customer segment, and integrated development approach.
- BRIDGE Housing: Nonprofit developer of affordable and mixed-income multifamily housing, primarily on the West Coast — comparable in product type and reliance on public financing, though regionally different.
- Woda Cooper Companies: Affordable housing developer and general contractor specializing in LIHTC-financed multifamily developments across the Southeast and Midwest — comparable in product mix, financing structures, and integrated development-construction model.
- Enterprise Community Partners: National nonprofit developer and LIHTC investor/operator of affordable rental housing — comparable in mission, financing structure, and customer base, though operating at much larger scale.
- The Michaels Organization: National developer, builder, and manager of affordable, workforce, and market-rate multifamily housing with deep LIHTC and HUD program expertise — directly comparable customer base and integrated service offering.
- CBG Building Company: National multifamily general contractor specializing in LIHTC, market-rate, and senior living construction — closely comparable in construction services offering and Southeast U.S. market presence.
- The NRP Group: National developer, builder, and manager of affordable and workforce multifamily housing using LIHTC, HUD, and state financing — directly comparable business model and customer base to Connelly Builders' affordable housing development and general contracting.
- Dominium: One of the largest U.S. affordable housing developers and property managers, focused on LIHTC and subsidized multifamily rental housing — comparable in product, financing approach, and integrated development-construction-management model.
Broad incumbents
- The Related Companies: Large diversified real estate developer with a major affordable housing arm (Related Affordable) using LIHTC and HUD financing — comparable in affordable housing product, but operates at national scale across many real estate categories.
- Hunt Companies: Diversified real estate developer with significant affordable and workforce multifamily housing activity, including LIHTC developments — comparable in affordable housing product, but operates broadly across real estate asset classes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Connelly Builders social profiles
Digital presenceConnelly Builders financial estimates
Financial estimateRevenue estimate
Valuation estimate
Connelly Builders leadership team
Management profileNumber of profiles
Profiles10 records
Connelly Builders subsidiaries and ownership
Company hierarchySubsidiaries1 record
Connelly Builders funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Connelly Builders M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Connelly Builders
What does Connelly Builders do?
Connelly Builders is a private construction and real estate development firm that develops, finances, and builds affordable and market-rate multifamily housing. Through Connelly Builders, Inc. (general contracting) and Connelly Development, LLC (development and financing), the firm delivers full-service projects from land acquisition through turnkey construction, using complex government financing programs such as HUD 202, RHS 515, LIHTC, HOME Funds, and tax-exempt bonds. Completed properties are leased through third-party property management companies.
Is Connelly Builders a public or private company?
Connelly Builders is a private company. It is classified as family owned and is currently operating.
When was Connelly Builders founded?
Connelly Builders was founded in 1997. It employs 11 to 50 people.
Where is Connelly Builders based?
Connelly Builders is headquartered in Lexington, United States, in the North America region.
How does Connelly Builders make money?
Three revenue lines are on record. Development Services are the primary driver. The others are general Contracting and property Rental Income.
Who are Connelly Builders's main competitors?
Direct peers on record are Pennrose, BRIDGE Housing, Woda Cooper Companies, Enterprise Community Partners, The Michaels Organization, CBG Building Company, The NRP Group and Dominium. Broad incumbents are The Related Companies and Hunt Companies.
Does Connelly Builders have an API?
No public API is recorded for Connelly Builders.
What industry is Connelly Builders in?
Connelly Builders's product category is Affordable Housing Development. Its primary akta.pro industry code is IMAFABAI, Residential Affordable Housing Development & Construction, with a secondary code of IMAFABAB, Multi-Family Residential Construction (Apartments, Condos, Townhomes). Its NAICS code is 236116 and its SIC code is 1531.