MidCity Development

What MidCity Development does

MidCity Development is a family-owned, mission-driven real estate company founded in 1965 by Eugene F. Ford, Sr. and headquartered in Bethesda, Maryland. The firm develops, acquires, and manages multifamily and mixed-use real estate, with a portfolio of approximately 9,000 owned multifamily units concentrated in the Washington, DC metropolitan area and a 55-year track record of over 15,000 apartments developed across the country. Its core products span Development Services, Investment Services (due diligence, capital structuring, lender negotiation), Asset Management & Accounting (cash flow optimization, value enhancement, refinancing, repositioning), and Property Management executed through affiliated Edgewood Management Corporation, which manages approximately 22,000 apartment units across 12 states and ranks among the 50 largest multifamily managers in the US.

MidCity operates a vertically integrated ecosystem that combines for-profit development with nonprofit housing entities — Community Development and Preservation Corporation (CDPC, ~4,500 affordable units serving 9,000 residents), Community Services Foundation (CSF, ~12,000 residents served annually with over $1 million in annual resident programming), and the Alice and Eugene Ford Foundation. The company generates revenue through a mix of long-term rental income on owned multifamily assets, development fees and capital appreciation on pipeline projects (notably the 1,800-unit RIA mixed-use redevelopment in DC's Rhode Island Avenue corridor, the 360-unit 1200 5th Street NW in Shaw, and the 108-unit Big Sky Flats in Langdon), property management fees via Edgewood, and investment services income. Its customer base is split between institutional investors and lender partners (Sandy Spring Bank, Opportunity Fund investors), public-sector counterparties (HUD Section 8, DC zoning authorities), and a distributed base of mixed-income tenants served through affordable housing programs, tax credit properties, Section 8 contracts, and Opportunity Zone developments.

The company's go-to-market centers on long-term ownership and stewardship rather than transactional development-for-sale, with strategic emphasis on public-private partnerships, mixed-income communities, and LEED-certified (Gold) developments. The current leadership team — including Chairman Eugene F. Ford, Jr., EVP Development Jamie Weinbaum (former DC Office of Zoning Director, ULI Washington 2019-2021 Chair), and SVP/General Counsel Madi Ford (third-generation family member) — reflects a generational continuity model paired with institutional development talent.

Name

MidCity Development

Legal name

MidCity Development

Website

https://midcitydev.com

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

MidCity Development is a family-owned real estate firm founded in 1965 that develops, acquires, and manages multifamily and mixed-use housing across the Washington, DC metro area, with ~9,000 owned units and 22,000 units managed through affiliated Edgewood Management Corporation across 12 states.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Development

NAICS

Management of Companies and Enterprises (55111)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Lessors Of Real Property, Nec (6519), Investors, Nec (6799)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Multifamily housing development
• Real estate development
• Property management services
• Affordable housing programs
• Mixed-use redevelopment

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Multifamily Housing Development: MidCity develops multifamily communities that meet diverse resident needs and deliver long-term value to partners. Revenue comes from development fees, property sales to investors, and capital appreciation on owned assets.
2. Asset Management & Investment Services: Provides investment services including acquisition due diligence, capital structure optimization, and lender negotiations. Manages investor portfolios with focus on risk-adjusted returns through conventional apartments and multifamily partnership interests.
3. Property Management: Owns and operates approximately 9,000 multifamily units, primarily in Washington DC Metropolitan Area. Affiliated management company Edgewood manages approximately 22,000 apartment units.
4. Tax Credit & Affordable Housing Programs: Redevelops tax credit properties and repositioned properties through capital deployment and conversion to mixed-income housing. Engages in public-private partnerships utilizing affordable housing programs.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

MidCity Development is a family-owned real estate firm that develops, acquires, and operates multifamily housing and mixed-use communities, primarily in the Washington, DC Metropolitan Area. It provides integrated services spanning development, investment services, asset management, and property management through its affiliated Edgewood Management Corporation, with a strong emphasis on mixed-income, affordable, and public-private partnership housing.

Product overview

MidCity Development is a family-owned real estate development company offering integrated development, investment services, asset management, and property management for multifamily housing and mixed-use real estate. The core offering includes development of multifamily communities, investment services with risk-adjusted returns, asset management with long-term operational focus, and property management through affiliated Edgewood Management Corporation. Major development projects include RIA (20-acre mixed-use redevelopment), 1200 5th Street NW (360-unit Shaw development), and Big Sky Flats (108-unit completed project). The portfolio spans approximately 9,000 owned multifamily units with a 20-year pipeline of development projects in the Washington, DC metropolitan area.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services Development of multifamily and mixed-use real estate communities that meet diverse resident needs and deliver long-term value to partners. Includes ground-up development and acquisition-rehabilitation projects with a portfolio of approximately 9,000 owned units primarily in the Washington, DC Metropolitan Area.
• Investment Services Coordinates due diligence on acquisitions and developments, determines optimal capital structure, and negotiates terms with lender partners. Provides risk-adjusted multifamily investment opportunities through Opportunity Funds, conventional apartments, and tax credit partnerships.
• Asset Management & Accounting Diversified team delivering long-term operational focus including cash flow optimization, value enhancement, refinancing, asset repositioning, construction management, and property tax analysis for owned and partner properties.
• Property Management Day-to-day property management for MidCity-owned multifamily units and partner-owned properties, delivered through affiliated Edgewood Management Corporation, one of the 50 largest multifamily managers in the U.S., with state-of-the-art reporting and accounting systems.
• RIA (Rhode Island Avenue Development) 20-acre, 8-block mixed-use, mixed-income redevelopment of the 1940s-era Brookland Manor Apartments and Brentwood Village Shopping Center on Rhode Island Avenue NE in Washington, DC. Planned for approximately 1,800 residential units and up to 181,000 square feet of commercial space.
• 1200 5th Street NW 360-unit residential building in DC's Shaw neighborhood near the Mount Vernon Metro, designed by award-winning architect Torti Gallas with rooftop pool, fitness center, courtyards, and 12% affordable units.
• Big Sky Flats 108-unit multifamily apartment building at 1400 Montana Avenue NE in Northeast DC's Langdon neighborhood, a $33 million Opportunity Zone project financed with Opportunity Fund equity and a Sandy Spring Bank construction loan. Includes nine affordable inclusionary zoning units.
• Brookland Manor Redevelopment Phased redevelopment of the existing 1940s-era Brookland Manor affordable housing complex (with a HUD Section 8 contract serving 373 very low-income families) into the larger RIA mixed-income, mixed-use community.

Quantifiable outcome

• 15,000+ apartments developed across the country since 1965
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

14 partnerships are on record, tiered core and minor.

• L.F. JenningscoreImplementation/ SI/ Consulting Partner · 4 January 2021L.F. Jennings served as general contractor for the Big Sky Flats 108-unit multifamily development project.
• Torti GallascoreStrategic or Co-development PartnerAward-winning architect Torti Gallas designed the 1200 5th Street NW project, a 360-unit residential building in DC's Shaw neighborhood with central amenity bar, rooftop pool, and fitness center.
• Maurice Walters ArchitectscoreStrategic or Co-development PartnerMaurice Walters Architects designed the Big Sky Flats Class A apartment building featuring fitness center, lounge, co-working spaces, dog washing station, bike room, and rooftop terrace.
• Edgewood Management CorporationcoreStrategic or Co-development PartnerAffiliated property management company manages approximately 22,000 apartment units (one source: 32,000), making it among the 50 largest managers of multifamily real estate in the U.S. Manages MidCity's owned portfolio with state-of-the-art reporting and accounting systems.
• Community Services Foundation (CSF)coreStrategic or Co-development PartnerNonprofit organization founded by Eugene F. Ford, Sr. to provide social services for residents at company properties. Programs include job training, computer literacy, food programs, after-school tutoring, healthcare services, and cultural heritage initiatives. MidCity spends over $1 million annually supporting CSF programming.
• ReCreative SpacesminorStrategic or Co-development PartnerCommunity arts organization co-organized 'Roll Down Get Down' urban art event at Brentwood Village Shopping Center, beautifying the site during redevelopment planning. Over 30 artists painted more than 2,000 feet of roll-down gates.
• Words Beats & LifeminorStrategic or Co-development PartnerNonprofit group promoting hip-hop and art education served as co-organizer of urban art event 'Roll Down Get Down' at Brentwood Village Shopping Center.
• Capital Area Food BankminorStrategic or Co-development PartnerCapital Area Food Bank works to address hunger for nearly 400,000 people in the region. MidCity and Edgewood, through the Alice and Eugene Ford Foundation, provided $100,000 investment enabling up to 250,000 meals. MidCity is an existing program host for the food bank's After School Meals program.
• Habitat for HumanityminorStrategic or Co-development PartnerMidCity was Team Build Sponsor for Habitat for Humanity's 'Women Build' campaign in DC, a nationwide initiative supporting low- and moderate-income women in need of housing. MidCity team completed all-volunteer construction build in Ward 5's Ivy City neighborhood.
• Academy of Hope Adult Public Charter SchoolcoreStrategic or Co-development Partner20-year partnership supporting adult education for residents in MidCity-owned subsidized properties. MidCity contributed over $1 million to the school including substantial contribution toward Academy of Hope's Ward 5 campus acquisition. 70 Brookland Manor residents attended in past five years. Washington Business Journal recognized this partnership with Corporate Philanthropy Award in 2019.
• D.C. Department of Employment Services (DOES)minorStrategic or Co-development PartnerD.C. DOES partnered with MidCity to host first-ever career fair at Brookland Manor, bringing together 44 businesses with over 185 job seekers. DOES Workforce on Wheels mobile service provided job search assistance and resume support.
• Community Development and Preservation Corporation (CDPC)coreStrategic or Co-development PartnerNonprofit housing entity founded by Eugene F. Ford Sr. to address market forces' impact on affordable housing. 26 years after inception, CDPC operates 4,500 affordable apartments and provides supportive programming for 9,000 residents, among the largest not-for-profit housing entities in Washington, D.C. area.
• D.C. Learn24 InitiativeminorStrategic or Co-development PartnerD.C. created Learn24 to capitalize on research showing quality after-school programs improve academic performance. Partnership between MidCity's Community Services Foundation and Learn24 supports after-school classes and activities at Frederick Douglass Apartments including homework help, tutoring, and STEAM programs.
• Urban Land Institute WashingtonminorChannel Partner/ Reseller/ DistributorMidCity EVP Jamie Weinbaum served as 2019-2021 Chair of ULI Washington, among the most respected real estate professional organizations in Greater Washington region. Weinbaum focused on strategic growth, member value, and community impact.

Scale indicators11 records

Recent moves7 records

Expansion highlights3 records

Regional players

• JBG SMITH Properties: NYSE-listed REIT focused exclusively on the DC area, formed from the merger of JBG Cos. and Vornado's DC portfolio. Highly comparable in DC-metro geography and mixed-use, transit-oriented development strategy overlapping MidCity's RIA project corridor.
• Donohoe Companies: Fourth-generation, family-owned Washington DC real estate company with development, construction, hospitality, and multifamily operations. Comparable as a long-tenured DC family-owned developer operating in the same regulatory and market environment.

Broad incumbents

• Greystar Real Estate Partners: Global leader in multifamily investment, property management, and development with >750,000 units managed. Comparable as the dominant scaled platform in the same multifamily management space where MidCity's Edgewood affiliate operates.
• JLL Multifamily Capital Markets: Global commercial real estate services firm with a dedicated multifamily investment sales and capital markets platform. Comparable as a scaled, institutional counterparty for multifamily owners like MidCity seeking recapitalization, refinancing, or disposition in DC and across the US.

Direct peers

• Bozzuto Group: Family-owned real estate company headquartered in the Mid-Atlantic that develops, owns, and manages multifamily housing with significant DC-area presence. Highly comparable vertically integrated model with a strong affordable and mixed-income housing focus overlapping MidCity's core geography.
• WinnCompanies: Boston-based multifamily developer, owner, and manager with deep affordable housing expertise and a national footprint across 100+ communities. Directly comparable as a mission-driven, vertically integrated multifamily platform serving both market-rate and affordable housing.
• Pennrose: Philadelphia-headquartered affordable and mixed-income housing developer with a national portfolio of 200+ communities. Closely comparable in mission, affordable housing focus, and public-private partnership approach to MidCity.
• The NRP Group: Cleveland-based multifamily developer specializing in affordable, mixed-income, and market-rate housing with a national development pipeline. Comparable as a private developer leveraging LIHTC, Opportunity Zones, and public-private partnerships similar to MidCity.

Others

• Community Development and Preservation Corporation (CDPC): Nonprofit affordable housing entity founded by Eugene F. Ford, Sr. that operates 4,500 affordable apartments serving 9,000 residents. Sister/affiliated organization to MidCity with overlapping mission but distinct nonprofit structure.
• Holland & Knight (DC Affordable Housing Practice): Major law firm with one of the largest DC affordable housing and community development practices advising LIHTC syndicators, developers, and public agencies. Adjacent ecosystem participant that frequently partners with or competes against developers like MidCity for LIHTC allocations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/midcity-development
• Xx.com/midcitydev
• Facebookfacebook.com/midcitydev

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 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 MidCity Development