ICON National
ICON National is a specialty general contractor that renovates occupied affordable housing properties under the LIHTC program. Founded in 2017 and headquartered in Scottsdale, AZ, the company has completed 108 projects across 15 states.
- Company typePrivate
- Founded2017
- HeadquartersScottsdale, United States
- Headcount—
- GTM typeB2B
- OfferingServices
What ICON National does
ICON National is a privately held specialty general contractor founded in 2017 and headquartered in Scottsdale, Arizona, with a secondary office in Nashville, Tennessee. The company exclusively renovates occupied affordable housing properties under the Low-Income Housing Tax Credit (LIHTC) program, serving LIHTC developers, housing authorities, nonprofit housing organizations, and government housing initiatives. As of recent reporting, ICON National has completed 108 projects across 15 states encompassing more than 13,900 units and over $1 billion in construction value, with individual contract values ranging from $1.3 million to $41 million.
The company's core technology is its specialized occupied renovation methodology, which combines phased construction planning, on-site coordination teams, resident communication protocols, and safety monitoring systems to minimize disruption while residents remain in place. Its preconstruction planning process includes budget validation, value engineering aligned with LIHTC eligibility, permitting, and occupied logistics planning. ICON National also offers the Affordable Housing Command Center, a free tool suite providing state LIHTC deadline data, project readiness assessments, and live HUD/Census/FEMA site data. Bonding capacity of $75 million per project and $500 million aggregate through Travelers enables participation in large-scale projects.
ICON National generates revenue through fixed-price general contracting contracts for occupied LIHTC renovations, supplemented by preconstruction and consulting services provided before construction contracts are awarded. The go-to-market approach relies on direct enterprise sales targeting affordable housing developers and housing authorities through relationship-based engagement, RFP participation, industry organization memberships, and content marketing. The company rebranded from MFRG-ICON Construction to ICON National in January 2023 as part of a consolidation of ownership and strategic geographic expansion. Notable customers include Little Tokyo Towers ($41M), Kimball Morgan Towers ($37.5M), Cathedral Plaza ($25.5M), Rosemont at Ash Creek ($23M), and a portfolio of California Homekey Initiative projects.
ICON National firmographics
Firmographics- Name
- ICON National
- Legal name
- ICON National
- Website
- https://iconnational.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Short description
- ICON National is a specialty general contractor that renovates occupied affordable housing properties under the LIHTC program. Founded in 2017 and headquartered in Scottsdale, AZ, the company has completed 108 projects across 15 states.
- Ownership category
- akta.pro rank
ICON National industry classification
Industry- Product category
- Affordable Housing Construction Services
- NAICS
- Commercial and Institutional Building Construction (236220)
- SIC
- Operative Builders (1531)
- akta.pro primary industry
- Senior Living & Assisted Living Facility Construction (IMAFACAJ)
Keywords
Where ICON National is headquartered
LocationHeadquarters
- HQ city
- Scottsdale
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
ICON National business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Others
Revenue model
- General Contracting Services: Project-based construction services for occupied affordable housing renovations. Revenue is generated through fixed-price contracts for LIHTC renovation projects, with contract values ranging from approximately $1.3M to $41M per project. The company serves as the general contractor managing subcontractors, schedules, budgets, safety, and quality on each project.
- Preconstruction and Consulting: Preconstruction services including site walks, budgeting, scope development, and schedule modeling. These services are provided before construction contracts are awarded as part of the client engagement process.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Custom project-based pricing |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
ICON National product offering
Product offeringCore offering
ICON National is a general contractor that provides end-to-end renovation services for occupied affordable housing properties under the Low-Income Housing Tax Credit (LIHTC) program. Services span preconstruction planning, production/construction execution, and closeout/warranty support, with a specialized methodology for renovating occupied multifamily and senior housing communities while minimizing resident disruption and protecting tax credit compliance.
Product overview
ICON National is a construction services company specializing in occupied affordable housing renovations within the Low-Income Housing Tax Credit (LIHTC) industry. The company functions as a general contractor providing end-to-end renovation services including preconstruction planning, production/construction execution, and closeout/warranty support. Their core service offering is the renovation of occupied multifamily and senior housing communities, with specialized expertise in phased construction to minimize resident disruption. The company operates across 15 states with over 108 projects completed, managing renovations from initial planning through final delivery while maintaining resident occupancy throughout the process.
Differentiator
Problem solved
Functional benefit
Products and services
- Occupied LIHTC Renovation General Contracting Project-based general contracting services for occupied renovations of Low-Income Housing Tax Credit (LIHTC) multifamily and senior housing properties. The company acts as the general contractor managing subcontractors, schedules, budgets, safety, and quality through fixed-price contracts, with project values ranging from approximately $1.3M to $41M. Geared for LIHTC developers, housing authorities, and ownership groups operating across 15 U.S. states.
- Preconstruction Planning Services Preconstruction services performed prior to construction contracts, including site walks, budgeting, scope development, schedule modeling, budget validation, value engineering aligned with LIHTC eligibility, coordination with ownership/design teams and housing agencies, permitting, and occupied logistics planning. Targeted at LIHTC developers and housing authorities seeking early-stage project planning support.
Quantifiable outcome
- Successfully completed 108 projects across 15 states with 13,900+ total units
- +3 more outcomes
Companies that use ICON National
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles3 records
ICON National technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
ICON National partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor.
- Council for Affordable and Rural HousingminorIndustry organization membership providing networking and industry representation for affordable and rural housing professionals.
- Alabama Affordable Housing AssociationminorState-level industry association membership for affordable housing professionals in Alabama.
- Florida Housing CoalitionminorState-level industry association membership providing affordable housing advocacy and resources in Florida.
- Georgia Affordable Housing CoalitionminorState-level industry association membership for affordable housing professionals in Georgia.
- Ohio Housing Finance AgencyminorRelationship with Ohio state housing finance agency for LIHTC project coordination and compliance in Ohio.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
ICON National competitors and assessment
Company assessmentBroad incumbents
- Bernards: Large California-based general contractor with significant affordable housing and multifamily renovation practice. Comparable in project type but a broader incumbent serving institutional, commercial, and residential clients with deeper financial capacity.
- Swinerton: National general contractor with multifamily and affordable housing work. Comparable as a contractor serving LIHTC developers, but broader in scope across commercial, healthcare, and energy sectors with much larger scale.
- NRP Group: Vertically integrated affordable housing developer, general contractor, and property manager. Comparable through its LIHTC construction operations and customer base, though broader as it self-develops and operates affordable housing.
- Manhattan Construction Company: Top-tier national general contractor with multifamily and affordable housing projects. Comparable in delivery model for renovation work, but operates across a much broader portfolio of commercial, sports, and institutional construction.
Direct peers
- Harkins Builders: Mid-Atlantic general contractor with multifamily renovation and affordable housing portfolio. Comparable as a specialty GC serving developers and ownership groups on renovation projects with similar contract structures and project sizes.
- BBI Construction: General contractor with multifamily renovation and affordable housing experience. Comparable business model and customer base, with similar specialty positioning in residential and mixed-use renovation work.
- KPRS Construction Services: California-based general contractor with strong multifamily and affordable housing renovation practice. Comparable regional footprint, customer overlap with LIHTC developers, and similar occupied-rehabilitation delivery capabilities.
- W.L. Gary Company: Regional general contractor with multifamily renovation and historic rehabilitation experience. Comparable as a mid-sized specialty GC serving affordable housing developers, though with greater Mid-Atlantic geographic focus.
- LEE Construction Services: Specialty general contractor focused on multifamily and affordable housing renovations with significant LIHTC portfolio experience. Directly comparable in project type (tax credit renovations), customer segment, and occupied-rehabilitation delivery model.
- The Plow Group: General contractor specializing in occupied multifamily and affordable housing renovations. Highly comparable to ICON National in business model (occupied renovation GC), customer base (LIHTC developers and owners), and delivery mechanism (phased construction with resident relocation).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
ICON National social profiles
Digital presenceICON National financial estimates
Financial estimateRevenue estimate
Valuation estimate
ICON National leadership team
Management profileNumber of profiles
Profiles7 records
ICON National funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ICON National M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ICON National
What does ICON National do?
ICON National is a general contractor that provides end-to-end renovation services for occupied affordable housing properties under the Low-Income Housing Tax Credit (LIHTC) program. Services span preconstruction planning, production/construction execution, and closeout/warranty support, with a specialized methodology for renovating occupied multifamily and senior housing communities while minimizing resident disruption and protecting tax credit compliance.
Is ICON National a public or private company?
ICON National is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ICON National founded?
ICON National was founded in 2017.
Where is ICON National based?
ICON National is headquartered in Scottsdale, United States, in the North America region.
How does ICON National make money?
Two revenue lines are on record. General Contracting Services are the primary driver. The others are preconstruction and Consulting.
Who are ICON National's main competitors?
Broad incumbents on record are Bernards, Swinerton, NRP Group and Manhattan Construction Company. Direct peers are Harkins Builders, BBI Construction, KPRS Construction Services, W.L. Gary Company, LEE Construction Services and The Plow Group.
Does ICON National have an API?
No public API is recorded for ICON National.
What industry is ICON National in?
ICON National's product category is Affordable Housing Construction Services. Its primary akta.pro industry code is IMAFACAJ, Senior Living & Assisted Living Facility Construction. Its NAICS code is 236220 and its SIC code is 1531.