Redwood Housing Company Profile

Background

Redwood Housing is a real estate development and investment firm specializing in the preservation and rehabilitation of affordable senior, family, and historically significant housing communities across the United States. Established in 2022, the company has rapidly expanded its portfolio, focusing on projects that deliver positive social impact and sustainable development. With a mission to raise the standard of living in communities nationwide, Redwood Housing emphasizes community stewardship and the revitalization of housing to meet the evolving needs of residents.

Key Strategic Focus

Redwood Housing's strategic focus centers on:

• Affordable Housing Preservation and Rehabilitation: Focusing on revitalizing affordable housing units to ensure long-term sustainability and quality living conditions for residents.

• Community Engagement: Collaborating with local organizations and stakeholders to address community needs and enhance the social fabric of neighborhoods.

• Sustainable Development: Implementing environmentally responsible practices in redevelopment projects to promote sustainability.

• Historic Preservation: Restoring and repurposing historically significant properties to maintain cultural heritage while providing modern amenities.

Financials and Funding

Since its inception, Redwood Housing and its affiliates have sponsored over $2 billion in impact development and investment activities. The company has secured funding through various channels, including private investors and partnerships, to support its extensive portfolio of projects. Specific details regarding recent funding rounds and notable investors are not publicly disclosed. The capital raised is primarily utilized for the acquisition, renovation, and management of affordable housing properties, with a focus on enhancing community impact and ensuring long-term viability.

Pipeline Development

Redwood Housing's pipeline includes several notable projects:

• Providence Gardens Apartments: Acquired in September 2023, this 200-unit property in Long Beach, California, is undergoing a $2 million renovation to modernize units and enhance shared amenities, with completion expected by spring 2024.

• Hausten Gardens: Located near Waikiki Beach in Honolulu, Hawaii, this mid-rise affordable senior community was at risk of conversion to market-rate housing. Redwood collaborated with a local partner to preserve and improve the community as high-quality affordable housing.

• Jaycee Towers: A high-rise affordable senior community in Dayton, Ohio, facing potential market-rate conversion. Redwood sponsored a preservation project to revitalize the property as high-quality affordable housing.

• Royal Palm Gardens: Originally built in 1970 in Fort Myers, Florida, this property required significant capital investment. Redwood developed a comprehensive redevelopment plan, including a new community center, to restore the property as high-quality affordable housing.

Technological Platform and Innovation

Redwood Housing employs several innovative approaches:

• Community-Focused Preservation: Implementing redevelopment plans that prioritize resident needs and community engagement.

• Environmental Sustainability: Incorporating eco-friendly practices in renovation projects to promote sustainability.

• Adaptive Reuse: Transforming historically significant properties into modern, affordable housing while preserving cultural heritage.

Leadership Team

The leadership team at Redwood Housing comprises:

• Ryan Fuson: Founder and CEO, responsible for strategic direction, management, development activities, and investment decisions.

• Jeff Green: Founder and Partner, focusing on sustainable impact investment and development, particularly in senior and multifamily affordable housing.

• Janna Dalton: Director of Asset Management, overseeing asset performance through strategic financial oversight and capital planning.

• Bob Duke: Director of Construction, managing renovation and construction projects to ensure quality and adherence to budgets and schedules.

• Meghan Hanson: Director of Community Engagement, leading community engagement strategies and initiatives to support the organization’s mission.

• Richard Loo: Director of Development, evaluating acquisitions and development projects while upholding Redwood’s mission and department goals.

• Chuck Rullman: General Counsel, supporting all aspects of Redwood’s business and mission through legal compliance and risk management.

• Alan White: Chief of Staff, developing operations across the organization, focusing on cross-team collaboration and leadership development.

• Jeff Wise: Chief Financial Officer, responsible for finance and accounting, treasury, and investor relations, ensuring robust financial performance.

Market Insights and Competitor Profile

The affordable housing sector faces challenges such as limited availability, rising construction costs, and the need for sustainable development practices. There is a growing demand for quality affordable housing, particularly for seniors and families, creating opportunities for companies like Redwood Housing to make a significant impact.

Key competitors in the affordable housing development and management sector include:

• Meb Management Services: A property management firm with an annual revenue of $260 million, offering a range of services in the real estate sector.

• The NRP Group: Specializes in the development, construction, and management of residential communities, with an annual revenue of $2.6 million.

• Foresite Realty: Focuses on real estate development and management, with an annual revenue of $4.2 million.

• Edgewood Management: Provides property management services with an annual revenue of $4.2 million.

• Columbia Residential: Engages in real estate development and management, with an annual revenue of $31 million.

• Dominium: A real estate investment and development firm with an annual revenue of $180 million.

Strategic Collaborations and Operational Insights

Redwood Housing collaborates with local organizations, non-profits, and public agencies to enhance community engagement and ensure the success of its projects. These partnerships are crucial for addressing community needs and achieving positive social impact.

The company differentiates itself through its commitment to community-focused preservation, environmental sustainability, and adaptive reuse of historic properties. This approach not only preserves cultural heritage but also provides modern, affordable housing solutions, setting Redwood apart in the competitive landscape.

Strategic Opportunities and Future Directions

Redwood Housing plans to expand its portfolio by identifying and acquiring additional properties in need of preservation and rehabilitation. The company aims to continue its focus on sustainable development and community engagement, ensuring that its projects meet the evolving needs of residents and contribute positively to the communities they serve.