Hatteras Sky
Hatteras Sky is an Atlanta-based commercial real estate development firm (founded 2019) that builds ground-up multifamily and boutique hospitality projects, often via adaptive reuse of historic structures, across five U.S. markets for institutional and Opportunity Zone capital partners.
- Company typePrivate
- Founded2019
- HeadquartersAtlanta, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Hatteras Sky does
Hatteras Sky is a commercial real estate development firm founded in 2019 in Atlanta, Georgia by Jason Cordon and Amy Kelly. The firm develops ground-up multifamily projects in transit-oriented urban infill locations and executes adaptive reuse of historic structures into boutique hospitality assets. Its active footprint spans five metros — Seattle and Lynnwood (Washington), Phoenix (Arizona), Salt Lake City (Utah), and Asheville (North Carolina) — with a reported development pipeline exceeding $1.3 billion across roughly 800 multifamily units and more than 300 hotel keys.
The multifamily portfolio comprises four mid- and high-rise developments: Hilite (205 units, Seattle), Tapestry (274 units, Seattle), Ember (361 units, Lynnwood), and Saiya (389 units, 23 stories, Phoenix), each incorporating ground-floor retail and lifestyle amenities. The hospitality portfolio centers on three boutique hotels — The Radical (70 rooms, Asheville), Zelda Dearest (20 rooms, Asheville, a Hilton SLH partner), and Asher Adams (225 rooms, Salt Lake City, a Marriott Autograph Collection property in the restored 1908-1909 Union Pacific Depot) — supported by in-house food and beverage concepts (Golden Hour, Rouser, Wine & Roses). The firm also operates creative placemaking assets (Phil Mechanic Studios, RAD Rendezvous) adjacent to The Radical.
Revenue is generated through three streams: development fees on ground-up and adaptive reuse projects for institutional and capital partners, recurring rental and hotel operating income from owned and managed assets, and management fees plus carried interest from Opportunity Zone Funds offered via private placement to accredited investors. Capital partners include Somera Capital East, Cresset Diversified Real Estate Capital, NorthMarq, United Bank, Morris Bank, and Foss & Company; co-development partners include Trent Development and The Athens Group; hotel operators include Lark Hotels, Driftwood Hospitality, and Pivot/Davidson Hospitality. The firm markets primarily through earned media, industry awards, and founder-led speaking engagements rather than paid acquisition channels, and does not publicly disclose pricing on its investment offerings.
Hatteras Sky firmographics
Firmographics- Name
- Hatteras Sky
- Legal name
- HATTERAS SKY
- Website
- https://hatterassky.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hatteras Sky is an Atlanta-based commercial real estate development firm (founded 2019) that builds ground-up multifamily and boutique hospitality projects, often via adaptive reuse of historic structures, across five U.S. markets for institutional and Opportunity Zone capital partners.
- Ownership category
- akta.pro rank
Where Hatteras Sky is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Hatteras Sky business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Others
Revenue model
- Development Fees: Hatteras Sky generates revenue through development fees from managing ground-up construction and adaptive reuse projects for institutional investors and capital partners.
- Asset Ownership and Management: The firm owns and operates multifamily and hospitality assets, generating rental income and hotel revenues from completed developments.
- Opportunity Zone Fund Management: Hatteras Sky launches and manages Opportunity Zone Funds that attract investors seeking tax advantages, generating fund management fees and carried interest.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Hatteras Sky product offering
Product offeringCore offering
Hatteras Sky is a commercial real estate development firm that develops multifamily residential properties and boutique hospitality assets through ground-up new construction and adaptive reuse of historic structures. The firm sources capital from institutional investors and Opportunity Zone funds, manages end-to-end development, and in some cases owns and operates the completed assets, generating returns from development fees, rental income, hotel revenues, and fund management fees.
Product overview
Hatteras Sky is a commercial real estate development firm offering multifamily residential developments and hospitality properties across the United States. The multifamily portfolio includes transit-oriented mid-rise and high-rise apartment communities under the brands Ember (Lynnwood, WA), Tapestry (Seattle, WA), Hilite (Seattle, WA), and Saiya (Phoenix, AZ). The hospitality portfolio comprises boutique hotels including Asher Adams Hotel (Salt Lake City, UT - Marriott Autograph Collection), The Radical Hotel (Asheville, NC - independent), and Zelda Dearest (Asheville, NC - Hilton SLH partner), along with artist studio spaces Phil Mechanic Studios and RAD Rendezvous. Food and beverage offerings include Golden Hour restaurant at The Radical, Rouser at Asher Adams, and Wine & Roses bar at Zelda Dearest. The company specializes in adaptive reuse of historic buildings and ground-up new construction in dynamic American markets.
Differentiator
Problem solved
Functional benefit
Brands
- Ember: Multifamily transit-oriented development in Lynnwood, Washington - 361 unit mid-rise with 9,215 SF ground level retail
- Tapestry
- Hilite
- Saiya
- Asher Adams
- The Radical
- Zelda Dearest
- Phil Mechanic Studios
- RAD Rendezvous
Products and services
- Ember A 361-unit mid-rise multifamily transit-oriented development in Lynnwood, Washington, featuring 9,215 SF of ground-level retail, an outdoor rooftop garden, and an onsite restaurant and market.
- Tapestry A 274-unit mid-rise multifamily development in Seattle, Washington with 8,140 SF of ground-level retail, featuring a rooftop lounge and art-based programming.
- Hilite A 205-unit mid-rise multifamily development in Seattle, Washington at 622 Rainier Avenue, featuring 5,200 SF of ground-level retail and a sky lounge and deck.
- Saiya A 23-story, 389-unit high-rise multifamily development in Phoenix, Arizona's Roosevelt Row Arts District, featuring 15,000 SF of retail space, two pools, fitness center, rooftop lounges, and Arizona's largest exterior mural.
- Asher Adams Hotel A 225-room Marriott Autograph Collection boutique hotel in Salt Lake City, Utah, featuring adaptive reuse of the historic Union Pacific Train Depot (built 1908-1909) with four dining venues: Rouser restaurant, The Bar at Asher Adams, No. 119 whiskey bar, and Counterpart coffee shop.
- The Radical Hotel A 70-room independent boutique hotel in Asheville, North Carolina's River Arts District, housed in a refurbished 1920s cereal factory. Features wood-fired restaurant Golden Hour, rooftop bar The Roof, coffee bar after/glow, and gallery space for displaced artists.
- Zelda Dearest A 20-room boutique hotel in Asheville, North Carolina spanning three historic late-1800s homes on Biltmore Avenue. Named in partnership with the Fitzgerald Estate, featuring Art Deco-inspired interiors, Wine & Roses parlor bar, and daily continental breakfast. Part of Hilton's SLH partnership.
- Phil Mechanic Studios An artist studio and creative professional space in Asheville's River Arts District next to The Radical Hotel, home to over 20 artists, spanning over 22,000 SF.
- RAD Rendezvous Artist studio and retail space at 87 Roberts Street in Asheville's River Arts District, accommodating up to 50 artists with solo and collaborative studio spaces and two retail spaces. Opened September 16, 2025.
- Golden Hour Restaurant Hatteras Sky's debut dinner service restaurant at The Radical Hotel in Asheville's River Arts District. A wood-fired kitchen featuring seasonal American cuisine with locally-sourced ingredients. Received a Michelin Recommendation in the 2025 guide.
- Opportunity Zone Funds Private placement offerings to accredited investors structured through Opportunity Zone Fund vehicles, providing tax-advantaged equity capital for Hatteras Sky's qualifying development projects. The firm earns fund management fees and potential carried interest.
Quantifiable outcome
- The Radical named #2 Best New Hotel by USA TODAY 2025
- +4 more outcomes
Companies that use Hatteras Sky
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles2 records
Hatteras Sky technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Hatteras Sky partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- True North StudiominorPhoenix-based development partner for the Saiya multifamily project. Connected Hatteras Sky with mural artist Leila Parnian.
- MPact DevelopmentminorPhoenix development partner involved in connecting artist Leila Parnian with the Saiya project mural commission.
- The Athens GroupcoreCo-development partner for Asher Adams Hotel in Salt Lake City. The Athens Group is a luxury hospitality development company specializing in generational hotels and resorts, working alongside Hatteras Sky on this adaptive reuse project.
- Pivot/Davidson Hospitality GroupcoreHotel operating subsidiary of Davidson Hospitality Group managing Asher Adams Hotel's day-to-day operations.
- Driftwood Hospitality ManagementcoreHotel management company overseeing operations at The Radical Hotel in Asheville's River Arts District.
- Lark HotelscoreBoutique hotel operator managing day-to-day operations for The Radical and Zelda Dearest hotels in Asheville. Lark Hotels specializes in connecting hotel experiences to local culture in historic and iconic destinations.
- Jacob SessomscoreJames Beard-nominated restaurateur and local Asheville chef serving as Director of Food and Beverage. Oversees all F&B concepts at The Radical including Golden Hour restaurant, after/glow bar, and The Roof rooftop bar.
- Trent DevelopmentcoreDevelopment partner for Seattle multifamily projects including Hilite and Tapestry. Based in Seattle with over 40 years of combined experience in real estate development and project management.
Scale indicators4 records
Recent moves12 records
Expansion highlights5 records
Hatteras Sky competitors and assessment
Company assessmentDirect peers
- Driftwood Hospitality Management: Hotel management company operating The Radical Hotel alongside Lark. Comparable as an operator partner and as a peer in the boutique/independent hospitality segment.
- MCR Hotels: One of the largest U.S. owner-operators of boutique and lifestyle hotels (Tribute Portfolio, Autograph, etc.). Comparable to Hatteras Sky's flagship-flag boutique hotels and operator-driven revenue model.
- Lark Hotels: Boutique hotel management company operating The Radical and Zelda Dearest for Hatteras Sky. Directly comparable as a boutique operator whose model Hatteras Sky depends on, and a peer in the lifestyle/luxury small-hotel space.
- The Athens Group: Luxury hospitality developer co-developing Asher Adams Hotel with Hatteras Sky; specializes in generational adaptive reuse resorts and hotels. Closest peer by deal type and capital structure.
- Concord Hospitality Enterprises: Hotel developer, owner, and operator with a strong lifestyle/soft-brand portfolio (Marriott, Hilton). Closely comparable to Hatteras Sky on dual role as developer + owner-operator across multiple markets.
- White Lodging: Hotel developer, owner and operator with a meaningful focus on adaptive reuse and lifestyle conversions across U.S. urban markets. Comparable on the develop-and-operate model and the urban-infill thesis.
- Sage Hospitality Group: Denver-based hotel owner/operator/developer focused on lifestyle and boutique urban hotels under flags like Marriott, Hilton, and Curio. Directly comparable to Hatteras Sky's adaptive reuse boutique hotel development plus third-party operating model.
Broad incumbents
- Greystar Real Estate Partners: Largest U.S. multifamily developer and operator with $30B+ AUM. Comparable on the multifamily side (Ember, Tapestry, Hilite, Saiya) where Greystar dominates urban infill and transit-oriented development.
- Pebblebrook Inc. (formerly Pebblebrook Hotel Trust): Lodging REIT focused on urban and lifestyle hotels including adaptive reuse assets. Comparable as a publicly traded reference point for Hatteras Sky's boutique/adaptive-reuse hospitality portfolio economics.
- Related Companies: Large national developer with deep mixed-use, multifamily, and affordable housing experience across dynamic markets. Comparable to Hatteras Sky's multifamily + urban infill playbook at a much larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Hatteras Sky social profiles
Digital presenceHatteras Sky financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hatteras Sky leadership team
Management profileNumber of profiles
Profiles5 records
Hatteras Sky funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hatteras Sky 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 Hatteras Sky
What does Hatteras Sky do?
Hatteras Sky is a commercial real estate development firm that develops multifamily residential properties and boutique hospitality assets through ground-up new construction and adaptive reuse of historic structures. The firm sources capital from institutional investors and Opportunity Zone funds, manages end-to-end development, and in some cases owns and operates the completed assets, generating returns from development fees, rental income, hotel revenues, and fund management fees.
Is Hatteras Sky a public or private company?
Hatteras Sky is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Hatteras Sky founded?
Hatteras Sky was founded in 2019. It employs 11 to 50 people.
Where is Hatteras Sky based?
Hatteras Sky is headquartered in Atlanta, United States, in the North America region.
How does Hatteras Sky make money?
Three revenue lines are on record. Development Fees are the primary driver. The others are asset Ownership and Management and opportunity Zone Fund Management.
Who are Hatteras Sky's main competitors?
Direct peers on record are Driftwood Hospitality Management, MCR Hotels, Lark Hotels, The Athens Group, Concord Hospitality Enterprises, White Lodging and Sage Hospitality Group. Broad incumbents are Greystar Real Estate Partners, Pebblebrook Inc. (formerly Pebblebrook Hotel Trust) and Related Companies.
Does Hatteras Sky have an API?
No public API is recorded for Hatteras Sky.