Pennrose

About Pennrose

Pennrose is a real estate operator headquartered in Philadelphia, PA. Pennrose operates in Albany-Schenectady-Troy, New York, Allentown-Bethlehem-Easton, Pennsylvania-New Jersey and Atlanta, Georgia. Its investment focus is on Affordable Housing, Historic Tax Credits and LIHTC.

Pennrose was founded in 1971 and has been operating for over. Since inception, the company has completed more than 350 developments, encompassing over 27,000 rental housing units, with $5 billion in total development costs. Pennrose focuses on development and management across several real estate types, including affordable housing, mixed‑income multifamily, mixed‑use, and conventional multifamily projects. Its operations span at least 16 U.S. states plus the District of Columbia and the U.S. Virgin Islands. The firm emphasizes complex, community‑engaged projects that combine various financing mechanisms—such as LIHTC, historic tax credits, New Market Tax Credits, tax‑exempt bonds, and both public and private sources—to deliver environmentally responsive and financially sustainable developments.

Principals at Pennrose