CLEVELAND — The NRP Group, a Cleveland-based multifamily developer and operator, plans to break ground on approximately 6,000 apartment units spread across 23 construction projects in 2022. The properties will be a mix of affordable, market-rate and mixed-income communities. The total investment for the projects is estimated at $1.9 billion.
The 23 communities are made up of 11 market-rate developments totaling 3,762 units; 10 affordable developments totaling 1,865 units for residents at or below 60 percent of the area median income (AMI); and two projects with 658 apartment homes in which half of the units are priced at market levels and half are priced for residents earning 80 percent of the AMI. Planned construction starts are distributed across the NRP footprint in Texas, the Washington, D.C., metro area, New York, New Jersey, Florida, North Carolina and Ohio.