Gorman & Company, a leader in community revitalization, proudly marks its 40th anniversary by delivering high-quality, affordable, workforce, public, and senior housing to communities nationwide by advancing to 7th place in Affordable Housing Finance (AHF) Magazine’s Developers Poll. Since its inception in 1984, Gorman & Company has been dedicated to revitalizing neighborhoods, preserving historic landmarks, and creating sustainable spaces where people can live, work, and thrive.
Founded by affordable housing pioneer Gary Gorman, Gorman & Company embarked on a mission to transform neglected properties into valuable community assets that enrich residents' lives and strengthen neighborhoods for future generations. Over the past four decades, Gorman & Company has evolved into a nationally recognized industry leader renowned for its expertise in affordable housing, historic preservation, public housing, and workforce housing.
Comprehensive Impact:
· $2.9 billion in total development costs
· 40 historic projects
· 3 historic hotels
· 13,264 total units built (11,301 LIHTC units)
· 165 projects in 12 states
· Nearly 700 employees nationwide
“Gorman & Company’s success over the past four decades is a testament to the dedication, talent, and passion of our team,” said Gary Gorman, Founder and Chairman of the Board of Directors. “I am incredibly proud of what we have accomplished together and excited about the opportunities that lie ahead as we continue to innovate and drive positive change in the communities we serve.”
Gorman & Company Moves Up AHF Magazine’s Top 50 Developers Poll
In addition to celebrating its 40th anniversary, Gorman & Company is proud to announce its advancement in AHF’s Top 50 Affordable Housing Developers of 2024, placing 7th in the recent national poll.
In 2023, Gorman & Company’s fully integrated firm was positioned to quickly implement innovative solutions when volatile rate increases threatened pipeline projects. Gorman’s steadfast community partnerships provided unwavering support, allowing the team to remain focused on providing quality housing to the nationwide communities they serve. Even in a challenging environment, Gorman & Company began over 1,300 new affordable housing units while completing construction on nearly 1,000.
“Gorman & Company takes great pride in being one of the nation’s leading developers of affordable housing, and we share this stage with some of the most impressive real estate companies in the U.S. Unfortunately, demand for new housing continues to outpace supply. Gorman & Company and our industry colleagues have the capacity to deliver even more units of much-needed housing; however, we are limited by the availability of housing resources,” said Brian Swanton, President & CEO. “We will continue to work steadfastly with federal, state, and local stakeholders to ensure our nation’s housing needs are met.”
About Gorman & Company’s Arizona Market
Gorman has developed into the largest producer of mixed-income housing in Arizona, having secured financing for the development of 2,618 units of affordable, workforce, and mixed-income housing for 29 different projects, representing over $650 million in total investment in the cities of Phoenix, Tucson, Glendale, Mesa, Tempe, Avondale, Yuma, Surprise, Globe, and Nogales.
“Gorman & Company is a leading affordable housing developer in Arizona and the largest developer of permanent supportive housing in the state. Our impactful projects include urban infill, historic preservation, rehabilitation, and new construction,” Sally Schwenn, Arizona Market President for Gorman & Company, said. “Gorman’s award-winning projects have been recognized in various categories such as design, urban planning, supportive services, and property management. We are proud to contribute to community revitalization and economic development in Arizona, providing much-needed affordable and workforce housing.”
For more information, please visit www.gormanusa.com.