CLEVELAND, OH April 14, 2021 – The NRP Group moves up in the National Multifamily Housing Council’s (NMHC) 2021 NMHC 50 Rankings for the nation’s largest apartment owners, managers, developers, builders and syndicators, and has now become the No.5 Top Developer and the No.3 Top Builder in the U.S.
“We are pleased and humbled by these results,” said J.David Heller, CEO, Principal and Founder of The NRP Group. “We have achieved continued progress through the unrelenting efforts of our A+ Players, our public and private partners, our investors, all our stakeholders, and the many forward-thinking communities we serve. Our long-term consistent growth is motivated by our core values and tremendous passion for our mission to create exceptional rental communities for individuals and families, regardless of income.”
The NRP Development team grew units starts in 2020 by +17% to 4,865 units, and the NRP Construction team grew units starts by 28% to 6,726 units, which included 1,861 units attributed to their fast-growing general contracting third-party services business directed towards owners and developers outside of NRP.
“The NRP Construction team has grown unit starts an average of 30% for the last two years,” said Taylor Brown, President of NRP Construction. “In order to keep our people safe and the work flowing this past year, it was a heroic effort, not only by the NRP Construction team, but by all of the support groups at NRP that make our work possible. Over the COVID-19 timeframe, we were able to achieve 99.5% jobsite up-time by instituting new safety, hygiene and social distancing protocols at construction sites across the footprint, and worked with local authorities to add, modify and adjust protocols as learning developed over time. That grit and determination, combined with the amazing growth of our outsourced general contracting business, has enabled this exciting result.”
NRP Development has also been growing at an accelerated rate with a focus on growing its presence in long-term NRP markets and continued expansion in markets entered over the past several years.
“We could not be more pleased with the work our developers are doing in both our affordable and market rate businesses,” said Ken Outcalt, President of NRP Development. “Our ability to balance the portfolio along these two business lines and adjust to changes in economic cycles gives us great resilience and durability. As we grow our footprint in core markets like Ohio and Texas, we continue to expand our presence in important high-growth markets like D.C. Metro, New York, Boston, Florida and North Carolina, to name a few.”
The NRP Group has seen continued progress in the NMHC rankings as a result of strong business fundamentals. “Our goal isn’t to chase rankings,” said Mr. Heller. “We focus on our people, our core values, our mission, and a very disciplined process of delivering on our commitments. This recipe has worked well for nearly three decades, and we believe our prospects are very bright as we continue to apply these time-tested principles.”
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has developed more than 43,000 apartment homes, and currently manages over 23,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental communities for individuals and families, regardless of income. Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market rate, affordable, and senior housing.
The NRP Group has been named the 2021 NMHC #3 Top Multifamily Builder in the U.S. and #5 Top Multifamily Developer, and Affordable Housing Finance has named The NRP Group #4 Top Affordable Housing Developer. The NRP Group is a three-time recipient of the National Association of Builders Multifamily (NAHB) Pillars of the Industry award for national “Development Firm of the Year.” NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit https://www.nrpgroup.com/.
About the National Multifamily Housing Council (NMHC)
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the apartment industry. We bring together the prominent owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans, contributing $3.4 trillion annually to the economy. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, email the Council at info@nmhc.org, or visit NMHC's Web site at nmhc.org.