Hartman Ely Investments

What Hartman Ely Investments does

Hartman Ely Investments is a privately held Colorado-based development and investment firm founded in 2000 by architects Jim Hartman and Susan Ely. The company specializes in three interconnected service lines: (1) historic building redevelopment with adaptive reuse and tax credit utilization, (2) redevelopment and historic preservation consulting for external clients, and (3) renewable energy development, including solar arrays and community-owned solar projects. Its underlying capability is the founders' architectural training and decades of accumulated expertise in conceptual design, budgeting, scheduling, and creative financing structures, particularly federal and state historic preservation tax credits, Low-Income Housing Tax Credits, HUD financing, and tax increment financing.

The firm operates a project-based model with 1-10 employees, executing developments through strategic co-development partnerships with firms such as City Street Investors, Larimer Associates, Heitler Development, Harvard Communities, and municipal and housing authority partners across Colorado. Revenue derives from development management fees on owned and co-developed projects, equity returns on invested capital deployed into developments, and consulting fees for external clients. Over 19 completed projects have been delivered, including Pancratia Hall Lofts (74 affordable family apartments, 2021), Eiber Village (50 senior apartments, 2020), Hangar 2 Lowry (mixed-use, 2010), Steam Plant Lofts (14 condos plus 9 patio homes, 2004), Boston Lofts (158 affordable rental lofts, 2008), and a 1 megawatt solar array at the Boulder Wastewater Treatment Facility under a PPA with the City of Boulder.

Customers are primarily government entities, housing authorities, nonprofit organizations, and private developers in Colorado, with select renewable energy projects in Vermont and New Mexico through a 2010-2012 partnership with Clean Energy Collective. The firm's positioning is built on reputation, sustained accumulation of regional design and preservation awards, and integration of sustainable, transit-oriented, and energy-independent design principles into each project.

Name

Hartman Ely Investments

Legal name

Hartman Ely Investments

Website

https://hartmanely.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Hartman Ely Investments is a Colorado-based, privately held development and investment firm that redevelops historic buildings into affordable housing and mixed-use projects, provides historic preservation consulting, and develops solar energy assets. It serves municipal, housing authority, nonprofit, and private developer clients, primarily through co-development public/private partnerships in Colorado.

Ownership category

akta.pro rank

Product category

Historic Real Estate Redevelopment & Renewable Energy Development

NAICS

Real Estate Property Managers (53131), Residential Remodelers (236118)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

Keywords

• Historic redevelopment
• Adaptive reuse consulting
• Affordable housing development
• Community solar arrays
• Sustainable real estate investment

Headquarters

HQ city

Boulder

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, Others

Revenue model

1. Development Management Services: Serves as Development Manager for projects, providing project management services and expertise in redevelopment and renewable energy developments. This includes overseeing conceptual design, budgeting, scheduling, and project execution.
2. Investment Capital Deployment: Provides investment capital for projects, including own developments and investments in partner projects. Revenue generated through equity returns on completed projects.
3. Historic Preservation Consulting: Provides redevelopment and historic preservation consulting services to external clients and partners, helping communities or organizations realize their visions for historic properties.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Hartman Ely Investments is a Colorado-based development and investment firm that specializes in historic building redevelopment, redevelopment and historic preservation consulting, and renewable energy (solar) development. The firm acts as Development Manager for adaptive reuse projects, deploys investment capital into sustainable real estate developments, and provides consulting services on conceptual design, budgeting, scheduling, and tax credit financing structures to municipalities, housing authorities, non-profits, and private developers.

Product overview

Hartman Ely Investments operates as a unified real estate development and investment company with three interconnected service offerings: Redevelopment Services (adaptive reuse of historic buildings into residential/mixed-use properties), Consulting Services (historic preservation and project management for external clients), and Renewable Energy Development (solar power system development). Projects include Pancratia Hall Lofts (74 affordable apartments), Fruitdale School Lofts (16 affordable apartments), Eiber Village (50 senior apartments), Hangar 2 Lowry (mixed-use historic hangar), Steam Plant Lofts & Patio Homes (condominiums), and various consulting engagements including Loretto Commons, InnovAge Headquarters, Western Hotel, Boston Lofts, and The Bank Lofts. Renewable energy projects include the 1MW Boulder Wastewater Treatment Facility solar array and community solar arrays in CO, NM, and VT. The company was founded in 2000 by Jim Hartman and Susan Ely.

Differentiator

Problem solved

Functional benefit

Products and services

• Redevelopment Services Historic building redevelopment services specializing in adaptive reuse of historic structures into residential and mixed-use properties, including tax credit utilization and sustainable design integration. Serves municipalities, housing authorities, and private developers.
• Consulting Services Redevelopment and historic preservation consulting services for community organizations and developers, including conceptual design, budgeting, scheduling analysis, and project management for real estate development projects.
• Renewable Energy Development Solar power system development and investment services, including solar array installations and community-owned solar projects financed via Power Purchase Agreements (PPAs).
• Pancratia Hall Lofts Adaptive use conversion of a 1927-1930 vacant classroom and dormitory building at the historic Loretto Heights campus into 74 affordable family apartments with historic preservation of decorative terrazzo flooring, converted gym, and Chapel features. 63,000 Sq. Ft.
• Fruitdale School Lofts Adaptive use conversion of a National Register Historic Building into 16 affordable rental apartments with historic interior features, solar power, and energy efficiency features. 15,000 Sq. Ft.
• Eiber Village Adaptive use conversion of three vacant 1960s buildings designated as local historic site into 50 affordable rental senior apartments near RTD light rail. 39,000 Sq. Ft.
• Hangar 2 Lowry Redevelopment of historic 1939 hangar into mixed-use facility with restaurants, public art, office/retail suites, Montessori school, and climate-controlled storage, featuring 105kW building solar system and 400kW community solar array. 125,000 Sq. Ft.
• Steam Plant Lofts & Patio Homes Conversion of the original Lowry Air Force Base Power House into 14 custom-designed loft-style condominiums plus 9 single-family patio homes with individual loft solar power systems. 66,000 Sq. Ft.
• Steam Plant Row Homes First live/work townhome facility at the Lowry development, with 10 units featuring flexible ground floor commercial space with storefront entrance and living space above.
• Solar Array at Boulder Wastewater Treatment Facility 1 megawatt solar power system at the Boulder Wastewater Treatment Facility, providing approximately 20% of the facility's power requirements via a Power Purchase Agreement (PPA) with the City of Boulder.
• Community Solar Community-owned solar array development in Windsor CO, Taos NM, and Putney VT, allowing community members to purchase array shares and receive credit on utility bills.

Quantifiable outcome

• 20% of facility's power requirements provided by on-site solar
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core and major.

• Proximity GreencoreStrategic or Co-development Partner · 1 January 2021Development partnership for Pancratia Hall Lofts adaptive use conversion at historic Loretto Heights campus.
• Westside Investment PartnerscoreStrategic or Co-development Partner · 1 January 2021The redeveloper for the entire Loretto Heights Community. Strategic partner for Pancratia Hall Lofts and Loretto Commons projects.
• Commun DenvercoreStrategic or Co-development Partner · 1 January 2021Redevelopment and historic preservation consulting services provided to Commun Denver for Loretto Heights Community Center (Machebeuf Hall conversion) and Loretto Commons redevelopment.
• Giving Tree PartnershipscoreStrategic or Co-development Partner · 1 January 2020Ownership partner with Giving Tree Partnerships for Eiber Village affordable senior housing development.
• Regeneration Development StrategiesmajorStrategic or Co-development Partner · 1 January 2017Redevelopment and historic preservation consulting services provided for Lowell School redevelopment transformation in Grand Junction, CO.
• Zeppelin DevelopmentmajorStrategic or Co-development Partner · 1 January 2012Historic preservation consulting services provided to Denver-based Zeppelin Development for Western Hotel Ouray conversion to luxury boutique hotel and spa.
• Clean Energy CollectivecoreStrategic or Co-development Partner · 1 January 2010Partnership to bring community-owned solar power to many states. Hartman Ely Investments was the Clean Energy Collective's equity investor for the first community-owned solar arrays in Vermont, New Mexico and Northern Colorado (2010-2012).
• City of BouldercoreStrategic or Co-development Partner · 1 January 2009Power Purchase Agreement (PPA) partner for Solar Array at Boulder Wastewater Treatment Facility. The City of Boulder purchases solar power under this agreement, providing approximately 20% of the facility's power requirements.
• City Street InvestorscoreStrategic or Co-development Partner · 1 January 2000Strategic partnership for development opportunities. Co-development partner for Hangar 2 Lowry project where they serve as ownership partner alongside Larimer Associates and Hartman Ely Investments.
• Larimer AssociatescoreStrategic or Co-development Partner · 1 January 2000Strategic partnership for development opportunities. Co-development partner for Hangar 2 Lowry project.
• Heitler DevelopmentcoreStrategic or Co-development Partner · 1 January 2000Strategic partnership for development opportunities. Development Partner with Heitler Development for InnovAge Headquarters project.
• Harvard CommunitiescoreStrategic or Co-development Partner · 1 January 2000Strategic partnership for development opportunities. Ownership partner for Steam Plant Lofts and Steam Plant Row Homes projects.
• City of Wheat RidgemajorStrategic or Co-development Partner · 1 January 2000Strategic partner for public/private partnerships including Fruitdale School Lofts redevelopment.
• Jefferson CountymajorStrategic or Co-development Partner · 1 January 2000Strategic partner for public/private partnerships including Eiber Village affordable senior housing.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Clean Energy Collective (now Arcadia): Pioneer of community-owned solar arrays — the exact counterparty with which Hartman Ely co-developed the first community solar projects in Vermont, New Mexico, and Northern Colorado in 2010–2012. Closest direct peer in Hartman Ely's renewable energy line of business.

Direct peers

• Pennrose: National real estate development and investment firm headquartered in Philadelphia with deep affordable housing practice, mixed-use redevelopment expertise, and recurring public/private partnership model. Directly comparable to Hartman Ely's mix of redevelopment, consulting, and LIHTC-driven affordable housing projects.
• Dominium: Plymouth, Minnesota-based apartment developer and owner with one of the largest affordable housing portfolios in the U.S. Comparable in LIHTC-driven affordable housing development, though at meaningfully larger scale and with broader geographic reach than Hartman Ely.
• Brinshore Development: Northbrook, Illinois-based affordable housing developer focused on adaptive reuse, mixed-income communities, and historic preservation. Operates a similar small-firm, project-based model leveraging LIHTC and historic credits, overlapping directly with Hartman Ely's historical adaptive-reuse focus.
• Beacon Communities: Boston-headquartered affordable and mixed-income housing developer with a national pipeline and recurring public housing authority partnerships. Overlaps with Hartman Ely's affordable housing redevelopment focus and reliance on housing authority co-investment.
• Gorman & Company: Wisconsin- and Chicago-based real estate developer specializing in the adaptive reuse of historic buildings into affordable and market-rate housing. Highly comparable to Hartman Ely's historic adaptive reuse model with a similar focus on tax-credit-driven affordable housing redevelopments across multiple Midwestern/Mid-Atlantic states.
• The NRP Group: Cleveland-based national developer of affordable, mixed-income, and market-rate housing with a substantial LIHTC and historic-rehabilitation pipeline. Comparable to Hartman Ely in delivering affordable units via complex tax-credit stacks and public/private partnerships, though at greater scale.

Regional players

• Zeppelin Development: Denver-based real estate developer and actual client of Hartman Ely (Western Hotel Ouray historic-preservation consulting). Operates in the same Colorado market with similar historic redevelopment and adaptive reuse activity, making it a regional comparable peer.
• City Street Investors: Denver-based real estate investment and development firm and core strategic partner with Hartman Ely on the Hangar 2 Lowry project. Comparable as a Colorado-focused historic and mixed-use development investor using similar public/private capital structures.

Broad incumbents

• The Michaels Organization: New Jersey-based national affordable and mixed-income housing developer and long-term owner-operator. Operates at far greater scale than Hartman Ely with both development and ongoing property management, but shares the affordable-LIHTC tax-credit-driven business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Hartman Ely Investments