Blue Sky Communities

Affordable Housing Developmentblueskycommunities.com

Blue Sky Communities is a Tampa, Florida-based affordable housing developer founded in 2012 that develops and owns 30+ LIHTC-financed multifamily communities across Florida, serving low-income families, seniors, veterans, and disabled individuals through partnerships with local governments and non-profits.

Company typePrivate
Founded2012
HeadquartersTampa, United States
Headcount11–50
GTM typeB2C
OfferingServices

What Blue Sky Communities does

Blue Sky Communities is a Tampa, Florida-based affordable housing developer founded in 2012 by Shawn Wilson and partners, with a stated mission to partner with local governments and non-profits to develop housing that is affordable for working families, seniors, veterans, and disabled individuals across Florida. The company specializes in developing multifamily affordable and workforce housing using the Low Income Housing Tax Credit (LIHTC) program, specifically 9% Housing Credits, 4% Housing Credits, and Tax Exempt Bonds, alongside related HUD funding mechanisms. As of 2024, the company has developed 30 communities housing 3,000+ families and has closed more than $800 million in private and public financing, with properties located across Tampa, St. Petersburg, Sarasota, Jacksonville, Miami, Orlando, Lakeland, Fort Myers, Fort Pierce, Port Charlotte, Bradenton, Winter Haven, Seffner, Brandon, and Clermont.

The company's portfolio consists of individual apartment communities ranging from 56 to 203 units, including senior housing (55+ and 62+), family housing, Permanent Supportive Housing for Veterans with service-connected disabilities (e.g., Duval Park), and developments serving homeless and transitional populations. Each property features standardized amenities such as clubhouses, fitness centers, business centers, and on-site case management offices. Property management is delivered exclusively through Carteret Management, a Blue Sky affiliate established in 1971, ensuring continuity from construction through lease-up and stabilized occupancy.

Blue Sky's revenue model is primarily real estate ownership-based: the company develops and retains ownership of LIHTC-qualified multifamily properties, generating rental income from income-restricted tenants (with rents tied to 30%-80% of Area Median Income), supplemented by development fees, asset management fees, and tax credit equity proceeds from institutional financial partners. The go-to-market is sales-led and relationship-driven, structured around securing LIHTC allocations from the Florida Housing Finance Corporation, tax-exempt bond financing, construction debt from regional and national banks, and tax credit equity from Raymond James and similar investors. Customer segments on the B2B side are diversified Florida municipalities (Tampa, St. Petersburg, Orlando, Lakeland, Clermont, Sarasota, St. Lucie County, Miami-Dade County, Hillsborough County, Pinellas County) and non-profit co-developers, while end-tenant demand is met through direct on-site leasing supported by Section 8 and VASH voucher acceptance.

Blue Sky Communities firmographics

Firmographics

Name: Blue Sky Communities
Legal name: Blue Sky Communities
Website: https://blueskycommunities.com
Company type: Private
Founded year: 2012
Operating status: Operating
Headcount range: 11–50 employees
Short description: Blue Sky Communities is a Tampa, Florida-based affordable housing developer founded in 2012 that develops and owns 30+ LIHTC-financed multifamily communities across Florida, serving low-income families, seniors, veterans, and disabled individuals through partnerships with local governments and non-profits.
Ownership category
akta.pro rank

Blue Sky Communities industry classification

Industry

Product category: Affordable Housing Development
NAICS: New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Property Managers (531311), Other Community Housing Services (624229)
SIC: Real Estate Operators (No Developers) & Lessors (6510), Real Estate Agents & Managers (For Others) (6531)
akta.pro primary industry: Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)
akta.pro secondary industries: Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF)

Keywords

Affordable housing development
Low income housing tax credits
Workforce housing communities
Senior housing development
Multifamily housing development

Where Blue Sky Communities is headquartered

Location

Headquarters

HQ city: Tampa
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Blue Sky Communities business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Infrastructure, Supply Chain, Personnel, Operations, Others

Revenue model

Housing Development and Ownership: Develops and owns multifamily affordable housing communities using Federal Housing Credits. Revenue generated through rental income from tenants in affordable housing units. Also earns development fees and asset management fees.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Affordable housing rentals based on income levels

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Blue Sky Communities product offering

Product offering

Core offering

Blue Sky Communities develops, owns, and operates a portfolio of 30+ affordable and workforce multifamily housing communities across Florida, financed through Federal Housing Credits (9% and 4% Housing Credits) and Tax Exempt Bonds. The company partners with local governments and non-profits to identify development opportunities, structure financing, build energy-efficient housing units, and provide ongoing property management (via affiliate Carteret Management) serving families, seniors, veterans, and disabled individuals at rents tied to Area Median Income thresholds.

Product overview

Blue Sky Communities operates as a portfolio of 30+ affordable and workforce housing communities across Florida, not a unified software product or technology platform. The company's core offering consists of individual residential property developments organized as a collection of geographically distributed apartment communities serving families, seniors, veterans, and disabled individuals. Each community functions as a standalone property with on-site management offices and maintenance facilities. The portfolio includes established communities (Alto Tower, The Adderley, Arbor Village, Ashley Square, Bear Creek Commons, Blue Sky Brandon, Blue Sky Landing, Brookside Square, Casa di Francesco, Cathedral Terrace, Cathedral Towers, Cathedral Townhouse, Clermont Ridge, Cypress Village, Duval Park, Fairlawn Village, Florence Place, Jacaranda Place, Jersey Commons, Peterborough, Preserve at Sabal Park, SabalPlace, Sandpiper Place, Silver Lake, SkyWay Lofts, Swan Lake Village, Swan Landing, Sweetwater Villas, Uptown Sky, Woodwinds) and upcoming developments (New Trail Plaza). Property management is handled by affiliate Carteret Management. The company specializes in public funding mechanisms including 9% Housing Credits, 4% Housing Credits, and Tax Exempt Bonds.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

30 communities developed serving families and seniors across Florida
+2 more outcomes

Companies that use Blue Sky Communities

Customer profile

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Blue Sky Communities technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

Blue Sky Communities partnerships and signals

Strategic signal

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

Carteret ManagementcoreStrategic or Co-development PartnerAffiliate property management company managing all Blue Sky Communities properties. Established in 1971, Carteret handles the full property lifecycle from development through lease-up to stabilized occupancy.
CASL Community Assisted and Supported LivingmajorStrategic or Co-development PartnerNon-profit partner providing development and supportive services for Alto Tower, serving families and homeless populations.
Community Assisted and Supported Living Inc.majorStrategic or Co-development PartnerNon-profit development partner for Arbor Village and Cypress Village, providing services for family and homeless populations.
Aging TruemajorStrategic or Co-development PartnerNon-profit partner for Ashley Square senior housing development and Cathedral Terrace/Townhouse senior communities.
Cathedral Foundation of JacksonvillemajorStrategic or Co-development PartnerNon-profit foundation developing affordable senior housing through Ashley Square and Cathedral Residences.
Boley CentersmajorStrategic or Co-development PartnerNon-profit development partner for Duval Park, providing services for Veterans with disabilities.
Service SourcemajorStrategic or Co-development PartnerNon-profit partner providing employment and support services for Veterans at Duval Park.
Provident Housing SolutionsmajorStrategic or Co-development PartnerDevelopment partner for Clermont Ridge senior housing community.
University Area Community Development CorporationmajorStrategic or Co-development PartnerNon-profit development partner for Uptown Sky, serving the University Area community in Tampa.
Metropolitan MinistriesmajorStrategic or Co-development PartnerNon-profit development partner for SabalPlace, providing services for individuals transitioning from homelessness.
Gulf Coast Housing FoundationminorStrategic or Co-development PartnerDevelopment partner for Fairlawn Village and Clermont Ridge.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Blue Sky Communities competitors and assessment

Company assessment

Direct peers

Pennrose: Developer and manager of affordable and mixed-income multifamily housing using LIHTC, tax-exempt bonds, and HUD programs across the Eastern U.S. Closely comparable business model combining development, ownership, and property management.
BRIDGE Housing: Nonprofit developer of affordable and workforce housing on the West Coast using LIHTC and public financing. Comparable mission-driven affordable housing development model, though nonprofit rather than for-profit structure.
The Michaels Organization: National developer, owner, and manager of affordable, mixed-income, and student housing using LIHTC and other public financing programs. Closely comparable to Blue Sky in the full-cycle development-to-management model for subsidized multifamily.
Lincoln Avenue Communities: Institutional owner and developer of LIHTC-financed affordable multifamily housing across multiple U.S. states. Closely comparable to Blue Sky's LIHTC-driven development and ownership strategy.
Dominium: Top-10 U.S. affordable housing developer and manager specializing in LIHTC and tax-exempt bond-financed multifamily. Comparable to Blue Sky in programmatic use of federal Housing Credits and integrated property management.
Conifer Realty: Large LIHTC-focused multifamily affordable housing developer and owner-operator across the U.S. Blue Sky's CFO Thomas Johnson was formerly CFO at Conifer, underscoring direct operational comparability in developing, financing, and managing tax-credit multifamily housing.
The NRP Group: Developer, owner, and operator of affordable, mixed-income, and market-rate multifamily housing using LIHTC and tax-exempt bond financing. Comparable in leveraging complex public financing structures for workforce and affordable developments.

Broad incumbents

The Related Companies: Large national real estate developer with a major affordable housing arm (Related Affordable) that develops and owns LIHTC multifamily at scale. Comparable product category but substantially larger and broader portfolio than Blue Sky.
WinnCompanies: National developer and manager of affordable, mixed-income, and market-rate multifamily housing with a long track record in LIHTC. Comparable integrated development-and-management model, though at much greater scale.

Emerging players

Enterprise Community Partners: National nonprofit that develops and finances affordable housing using LIHTC and other federal programs, with significant Florida activity. Comparable affordable housing development focus though structured as a nonprofit with public-purpose mission.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Blue Sky Communities financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Blue Sky Communities leadership team

Management profile

Number of profiles

Profiles9 records

Blue Sky Communities funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Blue Sky Communities M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Blue Sky Communities

What does Blue Sky Communities do?

Is Blue Sky Communities a public or private company?

Blue Sky Communities is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Blue Sky Communities founded?

Blue Sky Communities was founded in 2012. It employs 11 to 50 people.

Where is Blue Sky Communities based?

Blue Sky Communities is headquartered in Tampa, United States, in the North America region.

How does Blue Sky Communities make money?

One revenue line is on record: housing Development and Ownership.

Who are Blue Sky Communities's main competitors?

Direct peers on record are Pennrose, BRIDGE Housing, The Michaels Organization, Lincoln Avenue Communities, Dominium, Conifer Realty and The NRP Group. Broad incumbents are The Related Companies and WinnCompanies. Enterprise Community Partners is listed as an emerging player.

Does Blue Sky Communities have an API?

No public API is recorded for Blue Sky Communities.

What industry is Blue Sky Communities in?

Blue Sky Communities's product category is Affordable Housing Development. Its primary akta.pro industry code is BPAJAFAD, Affordable & Subsidized Housing Property Management (LIHTC, Section 8), with a secondary code of BPAGALAC, Affordable Housing & Community Development (Housing, Community Land Trusts). Its NAICS code is 236116 and its SIC code is 6510.