Pennrose
Philadelphia, PA 201–500 employees 33 principals
Last updated
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
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33 principals on file
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Recent activity at Pennrose
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Pennrose's project portfolio
16 projects on file · Multifamily (9), Mixed-Use (6), Affordable Housing (1)
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Every development in this GP's portfolio — location, unit count, square footage, and build status — plotted on an interactive map.
Markets and themes
Markets Pennrose operates in
- Albany-Schenectady-Troy, New York
- Allentown-Bethlehem-Easton, Pennsylvania-New Jersey
- Atlanta, Georgia
- Baltimore, Maryland
- Birmingham, Alabama
- Boston, Massachusetts
- Chattanooga, Tennessee-Georgia
- Cincinnati, Ohio
- Cleveland, Ohio
- Harrisburg, Pennsylvania
- Hartford, Connecticut
- Huntsville-Florence, Alabama
- Mobile, Alabama
- New York City, New York
- Philadelphia-Camden-Wilmington, Pennsylvania-Delaware
- Pittsburgh, Pennsylvania
- Richmond, Virginia
- Trenton-Princeton, New Jersey
- Virginia Beach - Norfolk - Hampton Roads, Virginia
- Washington DC
- Worcester, Massachusetts
- York-Hanover, Pennsylvania
Investment themes at Pennrose
- Affordable Housing
- Historic Tax Credits
- LIHTC
- Multifamily - Core
- Multifamily - Ground-up
- Schools
- Senior Housing
- Single-family rental
- Workforce Housing
Capabilities
- Asset Management
- Construction Management
- Economic Development
- Mixed Use
- Public-private partnerships
- Site Development
- Transit-oriented development
- Urban infill
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Frequently asked questions about Pennrose
- What does Pennrose do?
- Pennrose was founded in 1971 and has been operating for over.
- Where is Pennrose based?
- Pennrose is headquartered in Philadelphia, PA.
- What markets does Pennrose operate in?
- Pennrose is active in Albany-Schenectady-Troy, New York, Allentown-Bethlehem-Easton, Pennsylvania-New Jersey, Atlanta, Georgia, Baltimore, Maryland, Birmingham, Alabama, and Boston, Massachusetts.
- How many employees does Pennrose have?
- Pennrose has 201–500 employees.