South Mississippi Housing and Development

What South Mississippi Housing and Development does

South Mississippi Housing and Development Corporation (SMHD) is a 501(c)(3) nonprofit affordable housing developer and property manager, established in August 2006 by Mississippi Regional Housing Authority No. VIII (MRHA VIII) as its nonprofit instrumentality in the wake of Hurricane Katrina. Headquartered in Gulfport, Mississippi, the organization develops, owns, and manages affordable rental housing for low, moderate, and middle-income individuals, families, and seniors across 14 southernmost counties of Mississippi. SMHD currently operates a portfolio of 15 housing communities — 4 owned and directly managed (~400 units), 1 owned and third-party-managed (128 units), and 11 mixed-finance joint developments (~922 units) — totaling more than 1,400 units acquired or developed since inception.

Core products are physical housing communities (e.g., Baywood Place, The Preserve at Fairground Village, McIntosh Homes, Sanderson Village, Azalea Gardens) built through a mixed-finance approach combining 4%/9% Low-Income Housing Tax Credits, Section 8 Project Based Vouchers, HUD Capital Funds, Community Development Block Grants (including Katrina CDBGs), and Long Term Workforce Housing funding, alongside private developer co-investment from Landmark Development, Realtex Development Corporation, and The Michaels Development Company. No proprietary software, platform, or technical product is disclosed; the "technology" is the capital stack and the regulatory/compliance framework (24 CFR Part 85, HUD PHA requirements).

SMHD's revenue mechanics are diversified across (i) monthly rental income from directly owned units at roughly $600–$675 per month for 2–3 bedroom units at The Preserve (subject to HUD income limits), (ii) developer/asset-management fees on mixed-finance and third-party-managed communities, and (iii) ancillary tenant fees such as $20–$30 application fees. Revenue is not publicly disclosed. Leadership comprises CEO/President Judith Jones Moran, President Jessie Billups (also associated with MRHA VIII), Director of Development and Asset Management Jennifer Fitchie, and Office/HR Manager Sally O'Neal, governing a small administrative staff.

Name

South Mississippi Housing and Development

Legal name

South Mississippi Housing and Development Corporation

Website

https://smhd.org

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

South Mississippi Housing and Development Corporation is a 501(c)(3) nonprofit affordable housing developer and property manager serving low-income individuals, families, and seniors across 14 southern Mississippi counties through 15 communities and mixed-finance public-private partnerships.

Ownership category

akta.pro rank

Product category

Affordable Housing Development and Property Management

NAICS

Lessors of Residential Buildings and Dwellings (53111), Rental and Leasing Services (532)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Affordable housing development
• Property management services
• Low income housing
• Mixed-finance development
• Senior housing communities

Headquarters

HQ city

Gulfport

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Rental Income: SMHD owns and manages approximately 400+ rental units directly, generating revenue through monthly rents from affordable housing tenants.
2. Mixed-Finance Development: The organization develops housing communities by leveraging public and private financing including low income housing tax credits, Section 8 Project Based Voucher funding, and Community Development Block Grants.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

South Mississippi Housing and Development Corporation (SMHD) is a 501(c)(3) nonprofit that develops, owns, and manages affordable rental housing for low, moderate, and middle-income individuals, families, and seniors across 14 counties in South Mississippi. The organization operates a mixed-finance model leveraging low-income housing tax credits, Community Development Block Grants, Section 8 Project Based Vouchers, and private capital to develop over 1,400 affordable housing units, while directly owning and managing nearly 400 units and participating in ownership of 11 mixed-finance developments.

Product overview

South Mississippi Housing and Development operates as an affordable housing development and property management organization offering a portfolio of 15 distinct housing communities across 14 counties in South Mississippi. The company owns and directly manages 4 affordable housing communities while participating in ownership of 11 mixed-finance developments totaling over 1,400 units. The housing portfolio includes senior-focused communities (McIntosh Homes, Azalea Gardens), family-oriented properties (Baywood Place, Regency Way, Sanderson Village), and mixed-income developments serving various demographics including public housing, Section 8 Project Based Voucher, Long Term Workforce, LIHTC, and market rate units.

Differentiator

Problem solved

Functional benefit

Products and services

• McIntosh Homes Senior housing community in Leakesville, MS with 50 units (35 one-bedroom, 15 two-bedroom) developed with 4% Tax-Exempt Bond Proceeds and Housing Tax Credits financing, completed in 2013.
• Baywood Place Apartments Family housing community in Gulfport, MS with 72 units (24 one-bedroom, 48 two-bedroom) financed with 9% Housing Tax Credits, completed in 2009.
• Regency Way Apartments

Quantifiable outcome

• Over 1,400 affordable housing units developed since inception
• +3 more outcomes

Named customers5 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

Partnerships

Six partnerships are on record, tiered core and minor.

• Landmark DevelopmentcoreStrategic or Co-development PartnerPrivate sector developer partner providing development expertise and resources for affordable housing projects. Landmark Development partners with SMHD in mixed-finance solutions to create mixed-income communities.
• Realtex Development CorporationcoreStrategic or Co-development PartnerPrivate developer partner managing multiple SMHD properties including Baywood Place, Regency Way, Sanderson Village, The Estates at Juan de Cuevas, Timber Grove, and Village Place apartments.
• The Michaels Development CompanycoreStrategic or Co-development PartnerMajor development partner in SMHD's mixed-finance affordable housing development initiatives.
• Mississippi Regional Housing Authority No. VIII (MRHA VIII)coreStrategic or Co-development PartnerParent organization that established SMHD in August 2006 as its nonprofit instrumentality. Provides financing and capital fund support for development projects.
• Gulf Coast Community Design StudiominorStrategic or Co-development PartnerCommunity design partner providing architectural and design expertise for sustainable community development.
• Gulf Coast Housing Partnership, Inc.minorStrategic or Co-development PartnerRegional housing partnership organization collaborating on affordable housing initiatives in the Gulf Coast area.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• BRIDGE Housing: Nonprofit affordable housing developer focused on mixed-income communities. Operates a comparable mission-driven model combining LIHTC, public financing, and developer partnerships to produce affordable rental housing.
• Volunteers of America: National nonprofit that develops and operates affordable and supportive housing across the U.S. Comparable in serving low-income, senior, and special needs populations using mixed-finance affordable housing structures.
• WinnCompanies: Major affordable and mixed-income housing developer and property manager with a national footprint. Comparable in combining LIHTC-financed development with third-party property management services for affordable housing portfolios.
• National Church Residences: Nonprofit affordable housing developer with strong senior housing focus. Operates a similar model of developing, owning, and managing affordable rental communities, often using LIHTC and HUD programs — directly comparable to SMHD's senior-heavy portfolio.
• Mercy Housing: National nonprofit affordable housing developer and operator with a comparable mission of providing affordable rental housing for low-income families, seniors, and individuals with special needs. Operates a similar nonprofit-led development and property management model with mixed-finance structures.
• Habitat for Humanity International: Largest nonprofit affordable housing organization in the U.S., focused on affordable homeownership for low-income families. While SMHD focuses on rental rather than for-sale housing, the organizations share a nonprofit mission, low-income target demographic, and public-private financing approach.
• The Michaels Development Company: One of the largest LIHTC and affordable housing developers in the U.S., and an active SMHD partner. Operates with the same mixed-finance model combining LIHTC, public subsidies, and private capital across multiple states, directly comparable in deal structure and product.

Broad incumbents

• Enterprise Community Partners: One of the largest national nonprofit affordable housing developers and CDFIs. Significantly larger and more diversified than SMHD but operates the same affordable housing development-plus-property management-plus-financing model across the U.S.
• Pinnacle Property Management Services: Large third-party property management firm with a substantial affordable housing portfolio. While for-profit and broader in scope, it competes with SMHD for management contracts on LIHTC-financed properties and serves a similar tenant demographic.

Others

• Mississippi Regional Housing Authority No. VIII (MRHA VIII): SMHD's parent organization and the public housing authority that established SMHD as its nonprofit instrumentality. Operates public housing and Section 8 programs across the same 14-county region, with overlapping geographic mandate and tenant base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/south-mississippi-housing-and-development-corp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 South Mississippi Housing and Development