The NRP Group, based in Cleveland, earned top honors as Multifamily Development Firm of the Year by the National Association of Home Builders (NAHB) as part of the association's Multifamily Pillars of the Industry Awards.
"The NRP Group has consistently maintained profitability and financial strength in a tough economy, which speaks to the resilience of the company" said W. Dean Henry, CEO of Legacy Partners Residential in Foster City, Calif., and chairman of NAHB's Multifamily Leadership Board. "The company has also demonstrated great success in creating quality housing, with a focus on making sure every building reflects the needs and desires of its customers and residents."
The award, sponsored by Time Warner Cable, honors excellence in multifamily housing development, financial performance, innovative development strategies and practices and successful achievement of the company's vision and goals.
The company has successfully expanded its market-rate portfolio with four high-end market-rate properties in construction or completed and 14 more are in the development pipeline with estimated completions in 2013-2014. The NRP Group consistently ranked as the number one affordable housing developer in the nation, as well as placing in the top 50 multifamily builders annually. The judges noted that managing the quantity of projects with the complexity of the financing structure is a true accomplishment.
The NRP Group develops, builds, owns, manages and has partnered in numerous projects in multifamily, senior housing, single-family infill and commercial and retail sites. The company has developed nearly 17,000 single-family and multifamily homes and apartments in the past 16 years, with additional projects coming soon.
A panel of multifamily development and design experts also selected winners in 27 other categories from excellence in building and marketing to individual and corporate achievement. Winners from all categories were recognized in a virtual awards ceremony last week. To see the virtual ceremony, complete with pictures, commentary, sponsors and the full list of winners, visit: www.nahb.org/pillarsawards.