Devine & Gong
Devine & Gong is a San Francisco-based affordable housing finance and development consulting firm founded in 1985 that serves public agencies, nonprofits, and grassroots housing advocates with underwriting, feasibility, and program development services.
- Company typePrivate
- Founded1985
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Devine & Gong does
Devine & Gong (DGI) is a privately-held affordable housing finance and development consulting firm founded in 1985 and headquartered in San Francisco. The firm sells professional services to public agencies, non-profit housing developers, and grassroots housing advocates, helping clients finance, structure, develop, and preserve affordable housing for low and very low-income households. Its three core practice areas are Affordable Housing Finance Consulting (underwriting and financial feasibility analysis across most low-income housing subsidy programs), Development Consulting (environmental, property management, partnership, audit, and proforma review), and Generative Program Development (helping public agencies and non-profits design and secure funding for innovative affordable housing initiatives).
The firm's business model is engagement-based professional services, with revenue derived from consulting fees charged on project-specific terms. DGI does not operate a proprietary technology platform; its analytical work is performed by senior staff using accumulated modeling expertise rather than software products. The firm has underwritten over 200 developments and been engaged on more than 50 projects in the Greater Bay Area representing over 5,500 units of affordable housing. Distribution is via direct consulting engagements rather than a formal sales motion, with marketing limited to a website showcasing expertise areas.
Notable engagements include the Kukui Gardens preservation in Honolulu, where DGI assembled a public/private partnership that secured $50 million in state general obligation bonds to preserve 867 units (the largest preservation project of its kind at completion), and the TriO+ program with Oakland Unified School District, which provides teachers with $375/month rent. DGI has 1-10 employees and over 100 years of collective staff experience, positioning it as a boutique advisory firm rather than a scaled consultancy.
Devine & Gong firmographics
Firmographics- Name
- Devine & Gong
- Legal name
- Devine and Gong
- Website
- https://devinegong.com
- Company type
- Private
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Devine & Gong is a San Francisco-based affordable housing finance and development consulting firm founded in 1985 that serves public agencies, nonprofits, and grassroots housing advocates with underwriting, feasibility, and program development services.
- Ownership category
- akta.pro rank
Devine & Gong industry classification
Industry- Product category
- Affordable Housing Consulting
- NAICS
- Other Scientific and Technical Consulting Services (54169), Professional, Scientific, and Technical Services (54)
- SIC
- Services-Management Consulting Services (8742), Services-Engineering, Accounting, Research, Management (8700)
- akta.pro primary industry
- Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)
- akta.pro secondary industry
- Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)
Keywords
Where Devine & Gong is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Devine & Gong business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Professional Consulting Services: DGI generates revenue through consulting fees for affordable housing finance and development services, including underwriting analysis, financial feasibility studies, and program development advisory services for public agencies, nonprofits, and housing developers.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Devine & Gong product offering
Product offeringCore offering
Devine & Gong is an affordable housing finance and development consulting firm that delivers underwriting analysis, financial feasibility studies, and program development advisory services. The firm helps public agencies, nonprofits, and developers finance, structure, develop, and preserve affordable housing for low and very low-income households. Core practices include Affordable Housing Finance Consulting, Development Consulting, and Generative Program Development.
Product overview
Devine & Gong (DGI) is an affordable housing finance and development consulting firm offering a portfolio of professional services including Affordable Housing Finance Consulting, Housing Development Consulting, and Generative Program Development. These services work together to help clients finance, structure, develop, and preserve affordable housing projects. The firm also operates specific programs such as TriO+ (for essential workers) and participates in initiatives like the Welcome.US refugee resettlement program. Founded in 1985, DGI has over 100 years of collective experience and has been engaged in over 50 projects representing more than 5,500 units of affordable housing in the Greater Bay Area, having underwritten over 200 developments.
Differentiator
Problem solved
Functional benefit
Products and services
- Affordable Housing Finance Consulting Financial consulting services focused on underwriting and financial feasibility analysis for affordable housing projects, including analysis of low-income housing subsidy programs, permanent supportive housing, and mixed-income developments. Intended for public agencies, nonprofit and for-profit affordable housing developers, and co-developers evaluating project risk and structuring.
- Housing Development Consulting Development consulting services that evaluate environmental reports, property management plans, partnership agreements, audit reports, and operating proformas for affordable housing projects, producing clear written recommendations. Intended for affordable housing developers, owners, and public agency partners evaluating development and preservation transactions.
- Generative Program Development Technical expertise provided to public agencies, nonprofits, and grassroots housing advocates to help leverage resources and relationships to secure funding for affordable housing policy goals. Supports program design and execution for equity-focused affordable housing initiatives.
Quantifiable outcome
- 867 affordable housing units preserved in single largest public/private partnership preservation project in the country
- +2 more outcomes
Companies that use Devine & Gong
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Devine & Gong technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Devine & Gong partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Carmel PartnerscoreCo-developer in the Kukui Gardens preservation project in Honolulu, HI. Carmel Partners was the original owner through Kukui Gardens Corporation. DGI assembled public officials, co-developers, community organizers, resident leaders, and finance partners to rehab and preserve unit affordability before federal subsidies expired.
- Hawai'i Housing Finance & Development CorporationcoreState housing finance agency partner in the $50 million bond-financed Kukui Gardens preservation project, working with DGI and other partners to preserve 867 units of affordable housing.
- EAH HousingcoreCo-developer and property management partner in the landmark Kukui Gardens preservation project, contributing to the largest public/private partnership preservation project in the country.
- Faith Action for Community EquitycoreCommunity organizing partner in the Kukui Gardens preservation effort, representing community interests in the public/private partnership team assembled by DGI.
- Kukui Gardens Residents AssociationcoreResident leadership partner in the preservation project, part of the collaborative team DGI assembled to ensure community representation in the affordable housing preservation.
- HUD (U.S. Department of Housing and Urban Development)coreFederal housing agency partner that DGI worked with alongside Hawaii's Congressional delegation to secure approvals and facilitate the Kukui Gardens preservation project. The property was originally constructed under the HUD 211(d)(3) program.
- Oakland Unified School District (OUSD)corePartner in the TRiO+ affordable housing program for teachers, where DGI is executing an innovative housing and homeownership program where first-year teachers pay only $375/month rent, eliminating housing barriers for new educators.
- Mayor's Office of Education (Oakland)coreMunicipal education office partner in the TRiO+ program, collaborating with DGI and OUSD to address teacher housing affordability and support BIPOC individuals pursuing teaching careers at majority BIPOC schools.
- Welcome.USminorNational coalition partner working to welcome Afghan newcomers. DGI has partnered with Welcome.US to connect housing developers and property management companies with resettlement agencies and Afghan-American organizations to increase housing opportunities nationwide for refugees.
Scale indicators7 records
Recent moves4 records
Expansion highlights4 records
Devine & Gong competitors and assessment
Company assessmentBroad incumbents
- Enterprise Community Partners: A major national nonprofit that develops, finances, and advises on affordable housing, combining investment activity with program advisory - broader in mandate than DGI but overlapping in policy and program development work.
- CohnReznick: A top-30 accounting and advisory firm with a dedicated Real Estate practice serving affordable housing developers and investors with tax credit, financing, and development advisory - overlapping with DGI's core consulting services at larger scale.
- LISC (Local Initiatives Support Corporation): A large national CDFI providing financing, capacity building, and program advisory for affordable housing and community development - a scaled incumbent with technical assistance services that overlap with DGI's generative program work.
- KPMG Real Estate Advisory: Big 4 advisory practice serving affordable housing and multifamily clients with feasibility, due diligence, and transaction support - a scaled incumbent that competes with DGI on larger engagements but serves a much broader real estate mandate.
Emerging players
- Abt Associates: A research and consulting firm with a housing and community development practice providing policy analysis, program design, and evaluation services for affordable housing clients - comparable in consulting rigor but broader in policy focus than DGI.
Direct peers
- Novogradac & Company LLP: One of the largest U.S. accounting and consulting firms focused exclusively on affordable housing, LIHTC, and community development - a direct competitor to DGI's affordable housing finance underwriting and feasibility work.
- HR&A Advisors: A real estate and economic development advisory firm providing feasibility analysis, deal structuring, and public-private partnership advisory for complex mixed-income and affordable housing projects - directly comparable service offering to DGI.
- CSH (Corporation for Supportive Housing): A national nonprofit advisory organization that provides technical assistance, financing strategy, and development consulting for supportive and affordable housing - directly comparable to DGI's Generative Program Development and underwriting practices.
- Recapital Advisors: A boutique real estate advisory firm providing underwriting, feasibility, and transaction advisory for affordable housing and mixed-income developments - highly comparable in size, focus, and service offering to DGI.
Others
- EAH Housing: A major Bay Area and Hawaii affordable housing developer/manager that DGI partnered with on Kukui Gardens; operates as a developer/owner rather than advisor, but is a meaningful ecosystem participant that collaborates with (and could substitute for) consulting firms like DGI in certain engagements.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Devine & Gong financial estimates
Financial estimateRevenue estimate
Valuation estimate
Devine & Gong leadership team
Management profileNumber of profiles
Devine & Gong funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Devine & Gong M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Devine & Gong
What does Devine & Gong do?
Devine & Gong is an affordable housing finance and development consulting firm that delivers underwriting analysis, financial feasibility studies, and program development advisory services. The firm helps public agencies, nonprofits, and developers finance, structure, develop, and preserve affordable housing for low and very low-income households. Core practices include Affordable Housing Finance Consulting, Development Consulting, and Generative Program Development.
Is Devine & Gong a public or private company?
Devine & Gong is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Devine & Gong founded?
Devine & Gong was founded in 1985. It employs 1 to 10 people.
Where is Devine & Gong based?
Devine & Gong is headquartered in San Francisco, United States, in the North America region.
How does Devine & Gong make money?
One revenue line is on record: professional Consulting Services.
Who are Devine & Gong's main competitors?
Broad incumbents on record are Enterprise Community Partners, CohnReznick, LISC (Local Initiatives Support Corporation) and KPMG Real Estate Advisory. Abt Associates is listed as an emerging player. Direct peers are Novogradac & Company LLP, HR&A Advisors, CSH (Corporation for Supportive Housing) and Recapital Advisors. EAH Housing is listed as an others.
Does Devine & Gong have an API?
No public API is recorded for Devine & Gong.
What industry is Devine & Gong in?
Devine & Gong's product category is Affordable Housing Consulting. Its primary akta.pro industry code is BPAJANAF, Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships), with a secondary code of BPAJANAC, Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support). Its NAICS code is 54169 and its SIC code is 8742.