Greater Rochester Housing Partnership

What Greater Rochester Housing Partnership does

Greater Rochester Housing Partnership (GRHP) is a not-for-profit lender and affordable housing developer founded in 1992 in Rochester, New York, certified as a Community Development Financial Institution (CDFI) by the US Department of Treasury. The organization operates two interlocking business lines: (1) a B2B lending platform that provides construction loans, bridge loans, and predevelopment financing (including the MLK Predevelopment Loan Fund) to for-profit and not-for-profit affordable housing developers throughout the Rochester region, and (2) a direct development and homeownership platform that builds and rehabilitates affordable homes for income-qualified first-time homebuyers through the Buy the Block, HOME Rochester, and Make Monroe Home programs. Core technical capabilities are financial and construction-oriented rather than software-oriented, centered on underwriting construction and permanent financing for affordable housing, managing LIHTC equity syndications, and coordinating with developers, contractors, and municipal partners.

GRHP generates revenue through six streams: construction and bridge loan interest income, proceeds from newly-constructed and rehabilitated home sales, program management fees (including administration of NYS Homes and Community Renewal funds), grants from the City of Rochester and US Department of Treasury CDFI program, management fees on the Greater Rochester Housing Tax Credit Fund (co-managed with Conifer Realty and Essex Real Estate Partners), and predevelopment loan interest. Cumulative lending volume since 1992 exceeds $110 million across 3,260 single and multifamily units, with 25 predevelopment loans extended and 850+ homes rehabilitated through HOME Rochester. Unit pricing for Buy the Block homes ranges from $99,000 to $155,000, structured as one-time sales to income-qualified buyers capped at 30% of income on housing costs.

GRHP operates from a single headquarters in Rochester with a 6-person staff (President, VP of Finance, Program Manager, Construction Specialist, Manager of Operations, and Administrative Assistant). Strategic relationships include co-development partnerships with Providence Housing Development Corporation, Ithaca Neighborhood Housing Services, PathStone, Ibero American Development Corporation, and St. Ann's Community; financial partnerships with Key Bank, M&T Bank, Citizens Bank, Five Star Bank, JPMorgan Chase, Citigroup, First Niagara Bank, Paychex, and Enterprise Community Partners; and an institutional anchor relationship with the City of Rochester, which provided initial capitalization in 1992 and continues to supply vacant lots, grant funding, and buyer qualification services.

Name

Greater Rochester Housing Partnership

Legal name

Greater Rochester Housing Partnership

Website

https://grhp.org

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Greater Rochester Housing Partnership is a Rochester, NY-based nonprofit CDFI lender and developer providing construction, bridge, and predevelopment loans to affordable housing developers and directly building energy-efficient homes for income-qualified first-time homebuyers.

Ownership category

akta.pro rank

Product category

Affordable Housing Finance and Development

NAICS

New Housing For-Sale Builders (236117)

SIC

Loan Brokers (6163)

akta.pro primary industry

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

akta.pro secondary industry

Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO)

Keywords

• Affordable housing lending
• Construction financing
• Community development financial
• Affordable home development
• Low-income housing programs

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Construction and Bridge Loan Interest: GRHP generates interest income from construction loans and bridge financing provided to affordable housing developers throughout the Rochester region.
2. Home Sales: Revenue from selling newly constructed and rehabilitated homes to income-qualified first-time homebuyers. Includes proceeds from home buyers and home buyer subsidies.
3. Management Fees: Fees charged for managing housing programs and funds, including administering funds through New York State Homes and Community Renewal.
4. Grant Revenue: Grant funding primarily from the City of Rochester and CDFI grants from the US Department of Treasury to support affordable housing mission.
5. Tax Credit Fund Management: GRHP manages the Greater Rochester Housing Tax Credit Fund which makes equity investments in affordable housing developments, generating fees from fund management.
6. Predevelopment Loans: Short-term financing for project feasibility, design work, and due diligence prior to construction and permanent financing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Greater Rochester Housing Partnership (GRHP) is a not-for-profit lender and affordable housing developer providing construction loans, bridge loans, predevelopment loans, and tax credit equity investments to for-profit and not-for-profit developers. It also directly develops and sells newly-constructed energy-efficient homes and rehabilitated homes to income-qualified first-time homebuyers through programs such as Buy the Block, HOME Rochester, and Make Monroe Home.

Product overview

Greater Rochester Housing Partnership (GRHP) is a not-for-profit lender and developer offering a portfolio of financial products and housing programs for affordable housing in the Rochester, NY Region. The core offerings include Construction Loans, Bridge Loans, and Predevelopment Loans (including the MLK Predevelopment Loan Fund) for developers, along with the Greater Rochester Housing Tax Credit Fund for equity investments. On the homeownership side, GRHP operates the Buy the Block Program (newly-constructed, energy-efficient single-family homes) and administers HOME Rochester and Make Monroe Home Programs (rehabilitated homes for first-time homebuyers). The organization functions as both a lender providing flexible capital and a developer creating affordable housing opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction Loans Construction financing provided to affordable housing developers throughout the Rochester, NY Region, designed to work with multiple funding sources, accommodate realistic construction timelines, and offered with fixed or variable interest rates and forward commitments.
• Bridge Loans Short-term bridge financing provided to affordable housing projects to keep them moving forward while waiting for other secured funding sources to become available.
• Predevelopment Loans Predevelopment financing used to vet project feasibility issues and complete necessary due diligence to secure construction and permanent sources of financing for affordable housing projects in the Rochester Region.
• MLK Predevelopment Loan Fund Predevelopment loan fund housed at GRHP offering generous terms for proposed projects containing affordable rental or for-sale units, available for a three-year term to fund site options, architectural drawings, market studies, appraisals, and environmental surveys.
• Greater Rochester Housing Tax Credit Fund Tax credit fund managed by GRHP, Conifer Realty LLC, and Essex Real Estate Partners that makes equity investments in small developments of affordable apartments, with corporate investors making a 15-year economic commitment.
• Buy the Block Program City of Rochester initiative in which GRHP develops newly-constructed, energy-efficient, all-electric single-family homes on vacant City-owned lots for purchase by income-qualified first-time homebuyers. Buyer qualification is handled by the City of Rochester's Home Buyer Services team.
• HOME Rochester Program that converts vacant single-family houses into fully renovated for-sale homes through partnership with the Rochester Housing Development Fund Corporation, including lead-based paint hazard removal, kitchen and bath renovation, and roof, hot water heater, and furnace inspection and replacement, sold to eligible first-time homebuyers.
• Make Monroe Home Program Program administered by GRHP in partnership with the Rochester Housing Development Fund Corporation providing newly renovated homes for purchase at affordable prices to low and moderate-income first-time homebuyers in Monroe County.

Quantifiable outcome

• Over $110,000,000 in loans invested in affordable housing since 1992
• +9 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• Rochester Housing Development Fund Corporation (RHDFC)coreStrategic or Co-development PartnerPartnership to administer HOME Rochester and Make Monroe Home Program which rehabilitates vacant homes and sells to first-time homebuyers. More than 850 homes have been purchased, renovated, and sold through these programs.
• Providence Housing Development Corporation (PHDC)coreStrategic or Co-development PartnerCo-developer of Durand Senior Apartments (70 affordable senior apartments) and developer of Holy Rosary Apartments and LaFrance Apartments. PHDC manages Durand Senior property.
• St. Ann's CommunitycoreStrategic or Co-development PartnerCo-developer of Durand Senior Apartments with PHDC. Operates adult day care and coordinates on-site services for senior residents at the development.
• Ithaca Neighborhood Housing Services (INHS)coreStrategic or Co-development PartnerCo-developer of Glen Lake Apartments with Watkins Glen Housing Authority. 34 newly-constructed workforce housing units in Village of Watkins Glen, LEED-certified.
• Watkins Glen Housing Authority (WGHA)coreStrategic or Co-development PartnerCo-developer of Glen Lake Apartments with INHS. 34 newly-constructed workforce housing units in Downtown Revitalization Initiative area.
• Ibero American Development Corporation (IADC)coreGTM or Marketing PartnerDeveloper of Pueblo Nuevo I and II projects in Northeast Rochester's El Camino neighborhood. Assists with marketing and sale process for Buy the Block homes.
• PathStonecoreStrategic or Co-development PartnerDeveloper and manager of Wedgepoint Apartments - 60 units mixed-income housing in Rochester's South Wedge neighborhood.
• Atlas Contractors LLCcoreImplementation/ SI/ Consulting PartnerBuilder for Buy the Block newly-constructed homes in Northeast and Southwest Rochester. Building energy efficient, all electric homes.
• City of RochestercoreStrategic or Co-development PartnerInitial capitalization provider when GRHP was established in 1992. Ongoing partner for Buy the Block initiative providing vacant City-owned lots and Home Buyer Services for buyer qualification. Provides grant funding and permanent financing through NYS Housing and Community Renewal.
• The Arc of Schuyler CountyminorStrategic or Co-development PartnerProvides services to developmentally-disabled tenants at Glen Lake Apartments - 6 units set aside for this population.
• Catholic Charities of Chemung/Schuyler (CCCS)minorStrategic or Co-development PartnerProvides social services to residents of LaFrance Apartments - a 37-unit permanent supportive housing project in Elmira, NY.
• Conifer Realty LLCcoreStrategic or Co-development PartnerCo-manager of the Greater Rochester Housing Tax Credit Fund along with GRHP and Essex Real Estate Partners.
• Essex Real Estate PartnerscoreStrategic or Co-development PartnerCo-manager of the Greater Rochester Housing Tax Credit Fund along with GRHP and Conifer Realty LLC.
• Edgemere DevelopmentminorStrategic or Co-development PartnerConsulting developer for Pueblo Nuevo II project in Northeast Rochester.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• NeighborWorks America (network): National network of 240+ nonprofit affordable housing and community development organizations; comparable to GRHP as a member organization providing lending, homeownership, and neighborhood revitalization programs.
• Enterprise Community Partners: National CDFI and affordable housing organization providing loans, tax credit syndication, and development capital - directly comparable to GRHP's loan products, LIHTC fund management, and developer partnerships.
• Low Income Investment Fund (LIIF): National CDFI providing flexible capital for affordable housing, community facilities, and child care; comparable to GRHP's mission-driven lending to underserved communities and developer customers.
• Local Initiatives Support Corporation (LISC): National CDFI providing flexible financing, loans, and equity investments for affordable housing and community development, similar to GRHP's core lending function but operating at national scale with a broader program portfolio.

Regional players

• NYC Housing Partnership: NYC-based nonprofit housing partnership producing affordable housing through developer partnerships and financing; closely comparable to GRHP's partnership-driven affordable housing development model in a New York State context.
• The Community Preservation Corporation (CPC): New York-based CDFI providing construction and permanent financing for affordable multifamily housing; directly comparable to GRHP as a NY-region affordable housing lender serving nonprofit and for-profit developers.
• Habitat for Humanity of Greater Rochester: Rochester affiliate of Habitat for Humanity building affordable homes for low-income first-time homebuyers; directly comparable to GRHP's Buy the Block and HOME Rochester programs in the same Rochester market.

Direct peers

• Providence Housing Development Corporation (PHDC): Rochester-area nonprofit affordable housing developer (co-developer of Durand Senior, Holy Rosary, LaFrance Apartments with GRHP); directly comparable as a development partner and overlapping affordable housing producer in the same Rochester market.
• Rochester Housing Development Fund Corporation (RHDFC): Closely affiliated nonprofit that partners with GRHP to administer HOME Rochester and Make Monroe Home; directly comparable as a Rochester-based affordable housing developer and program administrator handling 800+ home rehabilitations.
• Ithaca Neighborhood Housing Services (INHS): Upstate NY nonprofit affordable housing developer and lender; directly comparable to GRHP as a regional peer with co-development partnership on Glen Lake Apartments and similar rural/Small-city affordable housing focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/greaterrochousingpartnership
• LinkedInlinkedin.com/company/greater-rochester-housing-partnership-inc

Compliance1 record

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

Investments

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

Frequently asked questions about Greater Rochester Housing Partnership