About

We develop and manage real estate. For real change.

Since 1971, we have been working to improve the lives of working families by creating safe, secure housing communities where residents can build fulfilling lives.

We recognize that our legacy will be not only the buildings we develop, but also the neighborhoods they improve, the residents who call them home, and the employees who demonstrate the Pennrose core values to support our mission.

Pennrose has achieved a national reputation of excellence for real estate development and multifamily property management.

CLICK HERE to view the Pennrose brochure.

Mission, Vision & Core Values

Mission

Our committed team of exceptional professionals transforms communities by creating high quality real estate developments and delivering outstanding value to our clients and partners.

Vision

Considered by all to be at the top of the multifamily and real estate industry, fueled by high caliber talent, financial strength, and a culture of continuous innovation of business practices.

Our Core Values

Integrity

We act with honor, honesty, and fairness and we hold ourselves to the highest ethical standards.

Collaboration

We support each other internally and externally to achieve our collective goals.

Accountability

We are responsible and take responsible action. We say what we mean, we do what we say.

Results Oriented

We take pride in achieving exceptional outcomes.

History

Pennrose began in 1971 with the goal of profoundly impacting the lives of working families through the development of affordable housing. Since then, we have honed our expertise through the successful completion of over 350 developments, more than 27,000 rental housing units, and oversight of $5 billion in total development costs.

Pennrose is a recognized leader in complex mixed-income multifamily and mixed-use development and professional property management services.

Leadership

The Pennrose leadership team is a group of diverse, talented, and experienced individuals who exemplify the Pennrose Core Values and are driven to support the Pennrose Mission.

Owners

Richard K. Barnhart

Executive Chairman of the Board

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Mark H. Dambly

Chief Executive Officer

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Timothy I. Henkel

President

Chief Accounting Officer

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R. J. Saturno

Vice President of Compliance & Legal

Senior Developer

Whether you call it ESG or corporate social responsibility, we at Pennrose just think it is the right thing to do. Our social impact, environmental standards, and governing strategies have always been as important to the organization.

The report linked below represents Pennrose’s first step in setting, measuring, and reporting quantifiable ESG metrics and activities, and will help guide us in identifying future goals. Our intent is to provide a level of transparency and detail for our current ESG efforts.

Click here to view "Making an Impact: Environmental, Social, Governance - 2022 Report"

Recognized for Excellence

The impact of the work we do is more important than any award we win – but it’s always nice to be recognized. Here are some recent honors our company, development projects, and team members have received.

Awards year