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Pennrose Ranked #1 on Affordable Housing Finance’s Top 50 Developers for 2012

April 17, 2013

Philadelphia, Pa. – April 17, 2013Pennrose, a leading real estate development and management company, was recently named one of Affordable Housing Finance magazine’s Top 50 Developers.  Making the #1 spot, Pennrose broke ground on 1070 units in 2012. 

Over the past year, Pennrose has maintained the consistent growth of its portfolio.  The company expanded current developments through the construction of additional phases, while diversifying into new markets and products, including their first development in Connecticut.

“We are thrilled to be ranked on Affordable Housing Finance’s list again this year and to have moved up three spots from 2011,” said Mark H. Dambly, President of Pennrose.  “Our employees and partners work diligently each and every day.  I am very proud of the time and dedication they’ve put into making these affordable developments happen.” 

Affordable Developments in 2012

Burwood Gardens, Glen Burnie, Md., 100 units

Rush Crossing, Trenton, N.J., 204 homes

Fairgrounds Phase 4, Chester Township, Pa., 71 units

Fairview Village, Phoenixville, Pa., 36 units

Jefferson Heights, New Britain, Conn., 70 units

Liberty Park Homeownership, Camden, N.J., 12 units

Long Branch Homeownership, Long Branch, N.J., 8 units

Memphis Triangle Phase 2, Memphis, Tenn., 106 units

Somerton Court, Bensalem, Pa., 60 units

South Greengate Commons, Hempfield Township, Pa., 45 units

Uplands Homeownership Site B, Baltimore, Md., 180 units

William Way, Philadelphia, Pa., 56 units

Woodrow Wilson Phase 1, Long Branch, N.J., 65 units

Woodrow Wilson Phase 2, Long Branch, N.J., 57 units


Affordable Housing Finance magazine’s Top 50 Developers list recognizes the nation’s most active affordable housing developers, making it the only list of its kind for the industry.  The list is generated based on a voluntary survey.  The full list will be featured in the April/May issue.