Pennrose

Nest56 has been nominated for an Eagle Award from Housing Colorado, one of the highest achievements for the Colorado housing community! Located in Denver's RiNo Arts District, Nest56 provides 56 affordable homes and a trauma-informed, supportive-rich environment for young adults experiencing homelessness or transitioning out of foster care. We're grateful for the partnership of TGTHR to end youth homelessness, RedLine Contemporary Art Center, the City and County of Denver, and our community stakeholders for helping bring this vision to life. It is an honor to be recognized for the team's work to improve outcomes and economic mobility for youth. Read more: https://lnkd.in/eRwYK-Q #AffordableHousing #YouthHousing #FosterCareTransition #EndYouthHomelessness

Helena Best, a retired nurse and current resident at Falls Ridge, used to put off buying food or medications in the winter so that she could keep her apartment warm. Five years ago, she applied for the Low-Income Home Energy Assistance Program (LIHEAP) and began receiving help with her heating bills, alleviating the need to worry about putting extra money aside for utilities. Pennrose Vice President of Community Impact Shannon Mowery recently spoke with The Philadelphia Citizen about the role that on-site community impact coordinators play in ensuring residents are connected to life-changing resources and assistance programs. Read more here: https://lnkd.in/detzdX_8 #LIHEAP #AffordableHousing #CommunityImpact #SupportiveServices

Please join us in celebrating the promotion of Jason Newman to Vice President of Asset Management!

We're pleased to announce significant milestones for the two-phase revitalization of Providence's Parcel 9: the grand opening of Tempo (Phase I) and the groundbreaking of Tandem (Phase II)! Tempo's 66 modern apartments are now leasing to a range of incomes, and in 2026, Tandem will provide 61 more homes. Beyond housing, this project includes ground-floor retail, a public plaza, and an affordable childcare facility operated by Children's Friend, addressing crucial community needs. Thank you to our partners, including the 195 District, the City of Providence, RIHousing, and Children's Friend, for their support in delivering high-quality, affordable housing that will benefit the Fox Point community for years to come. Read more about the project here: https://lnkd.in/dpHV_y2T #AffordableHousing #CommunityDevelopment #RI Mayor Brett Smiley Louis DiPalma Karmen Cheung Deborah Goddard Kim Merolla-Brito John G. Carol Ventura Marc Crisafulli David Caprio Rebecca Schofield Marsha B. Charlie Adams

Earlier this week, Maryland Secretary of Housing Jake Day joined Pastor Yvonne Penn, leaders of First United Methodist Church of Hyattsville, the Pennrose Development team, and Hyattsville city officials to discuss the Sanctuary at Hyattsville Crossing—an exciting new 120-unit affordable housing development in a walkable, transit-friendly neighborhood. This project will create much-needed affordable housing for families and seniors, with up to 30% of units dedicated to households experiencing homelessness. With easy access to public transit, schools, grocery stores, and community spaces, Sanctuary at Hyattsville Crossing is a model for sustainable, inclusive development. The Maryland Department of Housing and Community Development is proud to support this public-private partnership, leveraging Low Income Housing Tax Credits (LIHTC), HUD funding, and local resources to build stronger communities.

Construction update! Phoenix at 36N is the first phase of a seven-phase redevelopment of the former Comanche Park public housing property in Tulsa, OK, leveraged in large part with a $50M HUD Choice Neighborhoods Implementation Grant. The phase will include 100 units in a four-story mid-rise building and will include ground-floor retail. The community is being developed with Tulsa Housing Authority and City of Tulsa. Architect: WRT GC: Key Construction

We are pleased to announce the promotion of Ralph James Saturno (R.J.) to Chief Compliance Officer – Legal. R.J. is responsible for establishing, implementing, and executing institutional controls and compliance for the organization. R.J. also provides oversight for Pennrose’s first Director of Security and Safety, Kevin Tarangioli CPP, for the development, implementation, and monitoring of comprehensive security procedures, including preventative measures during site selection as well as site and building design.

As an industry member, Pennrose plays an active role in supporting and partnering with new entrants, advocating for additional resources, and promoting our peers’ success. On behalf of our partners and stakeholders, it is our duty to use our peer relationships to innovate in our execution and to maximize our contributions. We are pleased to be a participant in the Council of Large Affordable Housing Owners (CLAHO) and to hold leadership positions in the following national and state affordable housing organizations. Women's Affordable Housing Network (WAHN) Urban Land Institute New York State Association for Affordable Housing New York Housing Conference Maryland Affordable Housing Coalition

CEO Timothy Henkel is speaking at University of Rochester Real Estate Network’s #AffordableHousing panel on April 15 in NYC! Moderated by Pennrose's Jonah Ricanati, Tim will join industry leaders Brian Dowling and Sabrina Lippman to discuss the state of affordable housing, emerging opportunities and trends, and key challenges facing the industry.  Learn more and register here: https://lnkd.in/eQHpWTU2 #MultiFamily #ResidentialDevelopment

Away we go! Late last Friday night we closed on financing for the Trinity Street project in downtown Hartford, CT. We’re leading the adaptive reuse of two historic former office buildings into 104 units of mixed-income housing, directly across the street from the State Capitol. This development will bring tremendous energy to one of Connecticut’s most vital blocks, add support for local businesses, and new homes for folks at a variety of income levels, right in the heart of the city. This extremely complicated deal has been a total team effort – there are way too many folks to thank here - but my colleagues Karmen Cheung, Joe Gatti, and Charlie Adams were particularly massive on this closing. Construction is underway and we can't wait to see this one come to fruition! Onward! 20 & 30 Trinity Street, Hartford, CT Pennrose / The Cloud Company , LLC WRT / Bohler / Public Archaeology Laboratory, Inc. (PAL) / Capital Region Development Authority / Haynes Construction Company / Innova Services Corporation / Klein Hornig LLP / KeyBank / JPMorganChase / Connecticut Department of Housing