The Henson Development Company

What The Henson Development Company does

The Henson Development Company, Inc. (THC) is a fully integrated, family-owned real estate developer, consultant, and program manager founded in 2000 and headquartered in Baltimore, Maryland. The firm specializes in revitalizing distressed public housing sites into mixed-income, mixed-use communities, primarily through public-private partnerships with municipal housing authorities and HUD-funded competitive grant programs (HOPE VI, Choice Neighborhood, LIHTCs, tax-exempt bonds). THC's product portfolio comprises approximately 3,000 residential units across Baltimore, Washington D.C., and Florida, spanning affordable housing, senior residences, mixed-income apartments, and for-sale homeownership. The firm is currently engaged in the $1 billion Perkins-Somerset-Oldtown (PSO) Choice Neighborhood redevelopment with HABC, a $100+ million Park Heights project, and an $80 million grocery-anchored Somerset 4 development.

THC's revenue model is project-based, drawing developer fees from real estate development, consulting engagements, and direct property development/sales. The firm competes for awards through government RFP processes and structures complex multi-source financing, including pioneering the first Twinning Tax Credit deal in Maryland. THC differentiates on its 100% Minority Business Enterprise status, its founder's prior executive leadership at HUD/HABC, and a documented track record of exceeding M/WBE and Section 3 hiring requirements on every project. Co-development partnerships (Mission First Housing Group, A&R Development, NHP Foundation, faith-based organizations like Bible Way Church) are central to delivery. The company operates with a lean structure (1-10 employees) and has built relationships with anchor government clients including HABC, DCHA, and HUD. THC has received industry recognition including the Baltimore Business Journal Best in Real Estate Award (2021), the Committee of 100 Vision Award (2019), and DCHFA's Affordable Housing Development Award of Excellence (2006).

Name

The Henson Development Company

Legal name

The Henson Development Company, Inc.

Website

https://hensondevelopmentco.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

The Henson Development Company is a family-owned, MBE-certified real estate developer founded in 2000 that revitalizes distressed public housing sites into mixed-income communities. Headquartered in Baltimore, it serves housing authorities and HUD across Baltimore, Washington D.C., and Florida, with 3,000+ units developed and $600M+ in project value.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Remodelers (236118)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

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

akta.pro secondary industry

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF)

Keywords

• Affordable housing development
• Mixed-income communities
• Public housing redevelopment
• LIHTC financing
• Real estate consulting

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development Fees: THC earns developer fees as the primary developer on projects, structuring complex mixed-finance deals with multiple public and private funding sources including LIHTCs, tax-exempt bonds, HOPE VI funds, Choice Neighborhood grants, HOME funds, CDBG funds, and conventional construction financing.
2. Development Consulting: THC serves as a consultant on development assignments across the country, providing expertise in mixed-finance proposals, capital improvement programs, and public housing redevelopment planning.
3. Property Development and Sales: THC develops rental housing (affordable and market rate) and for-sale homeownership units. Revenue comes from sales proceeds of single-family homes and condominiums, as well as ongoing rental income from owned properties.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

The Henson Development Company is a fully integrated real estate developer, consultant, and program manager that revitalizes distressed public housing into mixed-income, mixed-use communities. The firm structures complex multi-source financing using LIHTCs, tax-exempt bonds, HOPE VI, Choice Neighborhood grants, HOME funds, and CDBG funds, and has developed over 3,000 residential units across approximately $600 million in projects in Baltimore, Washington D.C., and Florida. Its portfolio includes affordable and market-rate rental housing, senior housing, for-sale homeownership units, and community amenities built to LEED and Enterprise Green Communities standards.

Product overview

The Henson Development Company is a real estate development firm, not a technology product company. Its offering consists of a portfolio of real estate development projects including mixed-income residential developments, senior housing communities, and mixed-use redevelopment projects. The company's product portfolio spans multiple geographic markets (Baltimore, MD; Washington D.C.; Florida) and includes: the Somerset Homes redevelopment series (Somerset 1-4), Park Heights, Oldtown Mall, Plaza West, Fells Point Station, 1405 Point Street, senior residences (The Belnor, Suitland Senior Residences, Mt. Jezreel Senior), The SeVerna developments, Capitol Gateway, Golden Rule Apartments, and Glenncrest. These projects collectively represent over $600 Million in development value and 3,000 units across affordable, mixed-income, and market-rate housing categories.

Differentiator

Problem solved

Functional benefit

Products and services

• 1234 McElderry at Somerset (Somerset 1) 104-unit mixed-income apartment development providing 50 replacement units for relocated Perkins public housing residents as part of the Perkins-Somerset-Oldtown Transformation Plan in East Baltimore. Targeted at low-income and mixed-income residents of the East Baltimore redevelopment area.
• Somerset 2 (The Ella at Somerset) 192-unit mixed-income development with 100 replacement units for relocated Perkins residents, part of the Somerset Homes redevelopment in East Baltimore. Targeted at low-income and mixed-income residents and families.
• Somerset 3 (The Ruby at Somerset) 72-unit mixed-income development with 36 replacement units for relocated Perkins residents, part of the Somerset Homes redevelopment in East Baltimore. Targeted at low-income and mixed-income residents and families.
• Somerset 4 (The Blake at Somerset) Estimated 190-unit mixed-income Somerset marquee building with 89 replacement units for relocated Perkins residents, anchored by a grocery store to address the East Baltimore food desert. Targeted at low-income and mixed-income residents.
• Oldtown Mall Redevelopment Multi-phase mixed-use redevelopment in East Baltimore including 50,000 SF merchandise mall, 120-key hotel, 19,000 SF office/retail, 271 mixed-income apartments, and a 7,000 SF Entrepreneurial Incubator HUB serving community entrepreneurs and small business owners.
• Park Heights 17.3-acre mixed-income redevelopment in Northwest Baltimore with 210 rental units (low-rise multifamily, townhouses, and 'Big Houses') plus 78 single-family detached homes for homeownership. Targeted at low-income families and first-time homebuyers. $100+ million project value.
• Nathaniel McFadden Learn and Play Park Community amenity space featuring educational elements, amphitheatre, Jazz Walk celebrating Baltimore jazz greats, multi-use lawn, walking paths, and fitness area for all ages. Part of the Somerset Homes redevelopment and serves East Baltimore community residents.
• Fells Point Station LEED-certified 47-unit urban multifamily development with ground floor retail combining the renovation of a century-old vacant police station with new construction on a city-owned parking lot. Targeted at mixed-income urban residents. Winner of the 2014 Green Housing First Award.
• Plaza West 223-unit 12-story affordable housing building featuring 50 grandfamily units for grandparents raising grandchildren and 173 affordable units, designed to meet Enterprise Green Communities 2011 criteria. Located on Bible Way Church-owned land in Mount Vernon Triangle, Washington D.C. Targeted at low-income families and grandfamilies.
• 1405 Point Street 17-story 289-unit luxury rental apartment building with 20,000 sq. ft. of ground floor retail in the Harbor Point waterfront neighborhood of Baltimore. Targeted at market-rate renters.
• The Belnor 122-unit senior housing development for adults 62+ in Suitland, Prince Georges County, Maryland, with rents at approximately 60% of market rate. Targeted at low-income seniors and older adults.
• Suitland Senior Residences 137-unit mixed-income senior living community as part of Towne Square at Suitland Federal Center, including ground floor social service office space for the White Rose Foundation. Targeted at low-income and mixed-income seniors.
• Mt. Jezreel Senior (Sanctuary) 75-unit one and two-bedroom apartment building for older adults on excess church land in Silver Spring, Montgomery County, Maryland. Targeted at low-income and moderate-income seniors.
• The SeVerna on K 133-unit mixed-income 9-story property facing K Street NW, Phase II of SeVerna New Communities development in Washington D.C. with parking garage and gym. Targeted at mixed-income residents.
• The SeVerna Phase I of SeVerna New Communities mixed-income development in Washington D.C. with approximately 200 units across 4-story townhouses and a 5-story apartment building. Winner of the 1st Place New Construction Architecture Design Award. Targeted at mixed-income residents.
• Capitol Gateway 80-acre mixed-income neighborhood revitalization in Southeast Washington D.C. including a 152-unit senior building and approximately 1,200 additional units of mixed-income housing. Awarded $30.1 Million HOPE VI grant. Targeted at low-income and mixed-income families and seniors.
• Golden Rule Apartments 184-unit affordable housing rehabilitation project in Washington D.C. showcasing partnership between tenants, local church, and developer. Received the 6th Annual Affordable Housing Development Award of Excellence from DCHFA. Targeted at low-income residents.
• Glenncrest Mixed-income community redevelopment in Southeast Washington D.C. with 211 mixed-tenure units (150 homeownership, 61 rental). $45 Million construction value with $20 Million HOPE VI grant. Targeted at low-income and mixed-income families and first-time homebuyers.
• Real Estate Development Consulting Consulting services on development assignments across the country, providing expertise in mixed-finance proposals, capital improvement programs, and public housing redevelopment planning. Targeted at government agencies, housing authorities, and non-profit development organizations.

Quantifiable outcome

• $600+ Million in real estate development projects completed or in progress
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered supporting, major, core and minor.

• BCT ArchitectssupportingOthers · 1 May 2020Architect for Somerset 4 (The Blake at Somerset) project.
• NHP FoundationmajorStrategic or Co-development Partner · 1 September 2019THC and NHP Foundation are co-developers of the 17.3-acre Park Heights redevelopment, a $100M+ affordable housing project. NHP Foundation is a New York-based not-for-profit tapped to lead what would be the largest investment in the distressed Northwest Baltimore neighborhood.
• A&R DevelopmentcoreStrategic or Co-development Partner · 1 June 2004THC partnered with A&R Development for HOPE VI redevelopment projects including Glenncrest in D.C. ($20M HOPE VI grant) and Capitol Gateway (1100 units, $30.1M HOPE VI grant). A&R served as development partner on large-scale public housing revitalization.
• Mission First Housing GroupcoreStrategic or Co-development PartnerTHC's primary co-development partner on multiple major projects including Somerset Homes redevelopment (PSO), Suitland Senior Residences, Plaza West, The Belnor, and Mt. Jezreel Senior. Mission First serves as developer and property manager on these mixed-income housing developments.
• Bible Way ChurchmajorStrategic or Co-development PartnerTHC partnered with Bible Way Church to develop Plaza West (223-unit building) on church-owned land in the Mount Vernon Triangle neighborhood. The church provided the site while THC and Mission First provided development expertise.
• Grimm+ParkersupportingOthersArchitecture firm for 1234 McElderry at Somerset (Somerset 1) and Fells Point Station projects.
• STV, Inc.supportingOthersEngineering firm for Somerset 4 and Oldtown Mall projects.
• James G. Davis Construction CorporationsupportingOthersGeneral contractor for Somerset 4 (The Blake at Somerset) project.
• Commercial ConstructionsupportingOthersContractor for 1234 McElderry at Somerset project.
• Comcast East BaltimoreminorOthersComcast providing high-speed Wi-Fi infrastructure for Somerset Homes redevelopment projects, addressing digital equity in the community.
• Housing Authority of Baltimore City (HABC)coreStrategic or Co-development PartnerHABC is THC's primary government partner for public housing redevelopment. THC was selected as development partner for the $1B Perkins-Somerset-Oldtown Choice Neighborhood transformation. HABC provides public housing land, financing commitments, and resident relocation services.
• Michael Graves Architecture and DesignsupportingOthersArchitecture firm for Oldtown Mall project.
• The Tran GroupsupportingOthersReal estate broker/partner for Oldtown Mall project.
• Play Learning Landscapes Action Network (PLLAN)supportingOthersConsultant for Nathaniel McFadden Learn and Play Park project, providing expertise in educational play space design.
• MK EngineeringsupportingOthersEngineering firm for Oldtown Mall project.
• National Empire ConstructionsupportingOthersGeneral contractor for Oldtown Mall Phase I.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• The NHP Foundation: New York-based nonprofit affordable housing developer that is THC's co-developer on Park Heights. Comparable in mission-driven affordable housing focus using LIHTC and public financing, with similar mixed-income community development.
• Woda Cooper Companies: Affordable housing developer specializing in LIHTC-financed multifamily and senior housing developments. Comparable in affordable housing focus, LIHTC expertise, and project-based developer fee model.
• Mission First Housing Group: Nonprofit affordable housing developer and property manager that is THC's primary repeat co-development partner. Directly comparable because both specialize in mixed-income, mixed-finance developments using LIHTC and HUD programs in the Mid-Atlantic.
• Telesis Corporation: Minority-led real estate development firm focused on affordable and mixed-income communities. Comparable in minority-owned certification advantage and mixed-finance affordable housing development.
• A&R Development: Minority-led real estate development firm that co-developed HOPE VI projects with THC, including Glenncrest and Capitol Gateway. Comparable in mission, HOPE VI specialization, and Mid-Atlantic footprint.

Broad incumbents

• The Community Builders: National nonprofit developer of affordable and mixed-income housing. Comparable in HOPE VI/Choice Neighborhood-style mixed-finance redevelopments and mixed-income community building, with broader geographic reach than THC.
• BRIDGE Housing: Mission-driven nonprofit developer of affordable and mixed-income housing. Comparable because both develop mixed-income communities using LIHTC and public financing, though BRIDGE is substantially larger with West Coast concentration.
• L+M Development Partners: Affordable and mixed-income housing developer. Comparable in mixed-finance affordable housing development using LIHTC and public sources, though L+M is significantly larger and more diversified.
• Pennrose: Real estate developer specializing in affordable, mixed-income, and mixed-use developments. Comparable in LIHTC structuring and public-private partnerships, though Pennrose operates at meaningfully larger scale across multiple states.
• Enterprise Community Partners: Large national nonprofit affordable housing developer and LIHTC syndicator. Comparable to THC because both focus on affordable/mixed-income multifamily development using LIHTC and public subsidies, though Enterprise operates at much greater scale with a national footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/hensondevelopmentco
• LinkedInlinkedin.com/company/the-henson-development-company-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 The Henson Development Company