What Lemor Development Group does

Lemor Development Group (LDG) is a minority-owned real estate development firm headquartered in Harlem, New York City, specializing in the acquisition, construction, rehabilitation, and asset management of affordable and workforce housing. Founded in 2014 as a division of Lemor Realty Corporation (established 1988), LDG operates through joint ventures with institutional development partners, secures projects via NYC HPD RFPs and NYCHA PACT/RAD programs, and finances developments through a network of banks (Wells Fargo, TD Bank, M&T Bank), CDFIs (CPC, LISC NY), and government programs (HDC, NYSHFA, Fannie Mae, Freddie Mac). The firm has delivered over $750 million in development projects spanning new construction and in-place rehabilitation across thousands of affordable housing units, primarily in Manhattan, the Bronx, and Harlem, with select projects in New Jersey and Georgia.

The company's core offerings cover four service lines: Acquisition & Development (site selection through marketing, underwriting, tax abatement), Construction (pre-development, general contracting, construction management, LIHTC coordination), Green Enhancements (Passive House certification, Enterprise Green Communities, energy/water efficiency), and Asset Management (property performance monitoring, financial reporting, LIHTC/HOME compliance). Notable projects include the $271M PACT Renaissance Collaborative (1,718 units across 41 Manhattan buildings), the $383.6M Frederick Samuel Apartments PACT renovation, the $100M Mount Hope Renaissance (515 units across 13 Bronx buildings), The Robeson ($45M, 79 units), and Balton Commons ($22M, 37 units). LDG partners with Metropolitan Properties Services for day-to-day property management and Monadnock Construction for general contracting on PACT projects.

Revenue is generated through development fees (a percentage of total development cost), asset management fees on the stabilized portfolio, and co-development economics within JV structures. Pricing is not market-determined — rents and homeownership pricing are set by AMI tiers (30%-130% AMI) under government program rules. The firm has 1-10 employees, maintains an executive team led by President Kenneth Morrison and Director of Acquisitions Harrison Rayford, and operates with private ownership under the Lemor Realty Corporation parent. The company's competitive position rests on M/WBE certification, deep HPD/NYCHA relationships, and a track record of executing large, complex affordable housing deals in partnership with institutional capital providers.

Name

Lemor Development Group

Legal name

Lemor Development Group

Website

https://lemordev.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Lemor Development Group is a minority-owned real estate developer specializing in affordable and workforce housing across New York City, New Jersey, and Georgia. Founded in 2014, the firm delivers acquisition, construction, green-certified, and asset management services through joint ventures with HPD, NYCHA, and institutional capital providers.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Housing For-Sale Builders (236117), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

Keywords

• Affordable housing development
• Workforce housing construction
• Property management services
• Real estate acquisition
• Green building design

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Fees: Lemor earns development fees from managing the acquisition, construction, and completion of affordable housing projects, typically structured as a percentage of total development costs.
2. Asset Management Fees: Asset management team provides oversight responsibilities for completed projects, monitoring property performance, maximizing revenues, and ensuring cost control measures. Partners with Metropolitan Properties Services for day-to-day operations.
3. Property Management: Through partnerships with property management firms like Metropolitan Properties Services, LDG oversees day-to-day operations including maintenance, preferences, and financial reporting for the managed portfolio.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Lemor Development Group acquires, develops, rehabilitates, and manages affordable and workforce housing across New York City, New Jersey, and select Eastern Seaboard markets. The firm delivers mixed-use new construction and large-scale in-place rehabilitation projects financed through government subsidies, tax credits, and institutional debt/equity. Its work is anchored by four service capabilities: Acquisition & Development, Construction, Green Enhancement, and Asset Management.

Product overview

Lemor Development Group is a minority-owned real estate development firm specializing in affordable and workforce housing across New York City and the eastern Seaboard. The company operates as a single unified offering focused on real estate development, acquisition, construction, and asset management of residential properties. The portfolio includes individual housing projects (The Robeson, Balton Commons, Mount Hope Renaissance, PACT Renaissance Collaborative, Central Harlem, and others) alongside four core service lines: Acquisition & Development, Construction, Green Enhancements, and Asset Management. Projects range from new construction mixed-use developments to rehabilitation of existing public housing, with affordability tiers spanning 30% to 130% of Area Median Income.

Differentiator

Problem solved

Functional benefit

Products and services

• The Robeson A 10-story mixed-use new construction project with 79 mixed-income units at 407 Lenox Avenue in Harlem, featuring ground floor commercial space, community facility space, and a new church; developed as part of Lemor's affordable and workforce housing pipeline.
• Balton Commons A 7-story mixed-use new construction project with 37 mixed-income units at 267 West 126th Street in Harlem, including ground floor office, retail, and community facility space; a high-performance building with energy-efficiency features.
• Mount Hope Renaissance An in-place rehabilitation of 515 affordable housing units within 13 buildings in the Mount Hope neighborhood of the Bronx, including replacement of kitchens and bathrooms, energy efficiency measures (new windows, energy-efficient boilers, water efficiency), new roofs, and elevator modernization.
• PACT Renaissance Collaborative An in-place rehabilitation of 1,718 public housing units within 41 buildings throughout Manhattan under NYCHA's PACT initiative, including replacement of kitchens and bathrooms, building systems (HVAC and elevators), energy efficiency measures, landscaping, and building façade improvements.
• Central Harlem Affordable Housing New construction of 120 affordable units (72 rental and 48 homeownership) across 12 buildings in Community Boards 10 and 11 of Central Harlem, developed in partnership with Iris Development and built to Enterprise Green Communities Standards.
• 201 West 146th Street Harlem affordable housing property located at 201 West 146th Street & Adam Clayton Powell Jr. Boulevard in New York.
• HRP 503/504 Ongoing tenant-in-place rehabilitation of 71 units across two buildings with a shared backyard in West Harlem, housing formerly homeless and workforce housing households.
• Lenox Powell Three buildings containing 59 low-income residential units along with 2 retail units along Adam Clayton Powell Blvd in Harlem, managed as part of Lemor's affordable housing portfolio.
• 270 St. Nicholas Ave. Moderate rehabilitation of a 77-unit apartment building with one commercial unit at West 124th Street and St. Nicholas Ave. in Harlem; completed in 2017.
• The Retreat at Baywood A 14-building, 120-unit apartment complex in Morrow, Georgia (Atlanta Metro), acquired in 2018 for repositioning as part of Lemor's expansion beyond New York City.
• Acquisition & Development Services In-house real estate services managing all phases of acquisition and development from site selection through marketing, including site acquisition, green energy programs, tax abatement eligibility, underwriting, and financial analysis.
• Construction Services Construction services including pre-development analysis, design and value engineering, general contracting, budgeting, scheduling, construction management, owner's representative services, and LIHTC (Low Income Housing Tax Credits) coordination.
• Green Enhancement Services Sustainable green building practices incorporated into projects including water, energy, and fuel efficiencies through collaboration with energy and environmental consultants.
• Asset Management Services Oversight of completed projects focusing on long-term stability and efficiency, including property performance monitoring, revenue maximization, risk mitigation, market research, data analysis, revenue forecasting, financial reporting, budgeting, and LIHTC/HOME compliance; delivered in partnership with Metropolitan Properties Services.

Named customers3 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

Eight partnerships are on record, tiered core.

• Infinite HorizonscoreStrategic or Co-development Partner · 18 May 2026Development partner for the Seneca project at the former Lincoln Correctional Facility in Harlem. Infinite Horizons and Lemor are part of a joint development team with L+M Development Partners and Urbane Development Group for this 105-unit affordable homeownership project.
• L+M Development PartnerscoreStrategic or Co-development Partner · 18 May 2026Lead development partner for the Seneca project, a $97.8 million financing project to transform the former Lincoln Correctional Facility into 105 affordable homeownership units. L+M brings institutional development expertise to the partnership.
• Urbane Development GroupcoreStrategic or Co-development Partner · 18 May 2026Development partner in the joint venture for the Seneca affordable homeownership project at the former Lincoln Correctional Facility in Harlem.
• Iris Community DevelopmentcoreStrategic or Co-development Partner · 19 March 2026Partnership with LISC NY and Lemor Development Group to construct 34 affordable homes on four vacant city-owned lots in Harlem. HPD is providing additional subsidy funding under the New Construction Finance Program.
• Genesis CompaniescoreStrategic or Co-development PartnerGenesis Companies and Lemor Development Group secured $383.6 million in financing for the PACT renovation of Frederick Samuel Apartments. This was the first joint PACT award to a minority-owned development team.
• Monadnock ConstructioncoreImplementation/ SI/ Consulting PartnerGeneral contractor for the PACT Renaissance Collaborative project, performing in-place rehabilitation of 1,718 public housing units within 41 buildings. Also general contractor for Frederick Samuel Apartments PACT project.
• VPH Management ServicescoreImplementation/ SI/ Consulting PartnerTook over property management in September 2024 for Frederick Samuel Apartments as part of the PACT program transition. Also involved in PACT Renaissance Collaborative.
• Metropolitan Properties ServicescoreImplementation/ SI/ Consulting PartnerProperty management partner that oversees day-to-day operations of LDG's portfolio including maintenance, preferences, goals, asset status, and completion of periodic financial reports.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• L+M Development Partners: One of NYC's largest minority-owned affordable housing developers and a direct JV partner with LDG on the Seneca project. Operates the same affordable/multifamily development model targeting HPD and NYCHA programs at materially larger scale.
• Beacon Communities: National affordable housing developer active in NYC and the Northeast, pursuing LIHTC, public housing preservation, and mixed-income development comparable to LDG's portfolio.
• Phipps Houses: Long-standing NYC nonprofit affordable housing developer serving similar HPD and low-income rental/homeownership programs as LDG, including mixed-use and supportive housing components.
• Genesis Companies: NYC affordable housing developer that co-led the $383.6M Frederick Samuel PACT award with LDG. Directly comparable in mission, geography, and minority-led positioning, and a co-developer rather than purely independent competitor.
• Iris Community Development: NYC minority-led affordable housing developer partnering with LDG on the 34-unit Central Harlem infill project. Directly comparable in mission, geography, and M/WBE positioning, operating at smaller scale.
• Urbane Development Group: Minority-owned NYC affordable housing developer and JV partner on the Seneca project. Competes for the same HPD and NYCHA RFPs with similar scale and minority-business-certification positioning.
• Preservation of Affordable Housing (POAH): Nonprofit affordable housing preservation developer active in the Northeast, focused on rehab and long-term stewardship of HUD-assisted properties similar to LDG's Mount Hope and PACT Renaissance work.

Broad incumbents

• The NRP Group: Large national multifamily and affordable housing developer with significant LIHTC-funded portfolio. Provides a benchmark for what LDG could scale toward with continued institutional capital and JV partnerships.
• WinnCompanies: Major affordable and workforce housing owner/developer/manager active in the Northeast, including NYCHA PACT conversions. Comparable in target segment but operates at materially larger scale with vertically integrated property management.

Others

• Community Preservation Corporation (CPC): Nonprofit affordable housing lender and JV partner on Mount Hope and PACT Renaissance. While not a direct developer competitor, CPC shapes the deal flow LDG competes for and serves as a critical capital counterparty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/lemordevgroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lemor Development Group