# NRP Group

NRP Group is a Multifamily Developer, General Contractor, Property Manager based in Cleveland, United States.

## Overview

- **Organization type:** Multifamily Developer, General Contractor, Property Manager
- **Headquarters:** Cleveland, United States
- **Region:** Europe
- **Address:** Cleveland, OH, United States
- **Founded:** 1994
- **Assets under management:** $7.5B–$15B (Altss estimate)
- **Website:** nrpgroup.com
- **LinkedIn:** https://www.linkedin.com/company/nrp-group

## Regulatory record

- **Reports private funds:** No

## About

J. David Heller and Alan Scott launched NRP Group in 1994 as a Cleveland-based multifamily developer. Over three decades the firm expanded from a local Ohio builder into a national platform, adding offices in Dallas, Northbrook, and later Toronto and London. NRP operates as a fully integrated developer, general contractor, and property manager, a structure that allows it to control costs and maintain consistent build quality across its pipeline. The co-founders remain active in day-to-day leadership, with Heller serving as CEO and Scott providing strategic direction from the firm's Texas office. NRP targets both market-rate and affordable housing, typically through tax-credit financing structures that attract institutional capital. Its portfolio spans garden-style suburban apartments, urban mid-rise infill projects, and active-adult communities. The firm has joint-ventured with some of the largest institutional real estate investors, including Ares Management and other pension-fund-backed vehicles. Geographically, NRP concentrates on high-growth Sun Belt metros — Dallas, Houston, Phoenix, Charlotte, and Tampa — while also maintaining a presence in Midwestern markets like Cleveland and Columbus. In recent years it has expanded into build-to-rent single-family communities, a structural adjacency that leverages its land-acquisition and construction capabilities. As of mid-decade NRP had developed or built over 50,000 residential units, making it one of the five largest multifamily developers in the US by unit count. The firm employs several hundred professionals across five offices, with the Cleveland headquarters housing the majority of its design, finance, and property-management staff. Adjacent to its core operations, NRP maintains a charitable foundation focused on workforce development and housing affordability in the communities where it builds. NRP's structural differentiator is the vertical integration of development, construction, and property management under a single P&L. Most multifamily developers outsource construction and management, but NRP retains those functions in-house, which allows it to price projects more competitively on tax-credit bids and to react faster to changing municipal affordable-housing requirements. This model also creates reputational stickiness; state housing finance agencies and institutional LP co-investors repeatedly re-up with NRP because the firm controls the full lifecycle — from zoning entitlements through stabilized operations.

## Sectors

- Real Estate

## Offices

- London, United Kingdom
- Toronto, Canada
- Dallas, TX
- Northbrook, IL

## People

- J. David Heller — President, CEO and Co-Founder
- Alan F. Scott — Co-Founder

## Questions

### Who runs investment decisions at NRP Group?

Co-founders J. David Heller (CEO) and Alan Scott lead the firm's strategic and investment decisions. Heller operates from the Cleveland headquarters and oversees the firm's development pipeline and institutional relationships, while Scott focuses on the Texas and Sun Belt operations. The firm's vertically integrated structure means that acquisition, development, and construction decisions sit within a single leadership team rather than being siloed across separate business units.

### Does NRP Group focus on affordable housing or market-rate development?

NRP does both, with a strong emphasis on affordable and workforce housing financed through Low-Income Housing Tax Credits (LIHTC) and similar state-level programs. The firm is one of the largest LIHTC developers in the country. It also builds market-rate apartments and has expanded into build-to-rent single-family communities, diversifying its revenue base across asset types that share construction and operational DNA.

### How does NRP Group source its project pipeline?

NRP's pipeline is primarily sourced through long-standing relationships with state housing finance agencies, municipal planning departments, and institutional capital partners. Because the firm operates as its own general contractor and property manager, it can bid more competitively on tax-credit allocations than developers who outsource those functions. Repeat joint-venture partners — including major institutional investors like Ares Management — also bring deal flow to the firm.

### Which geographies does NRP Group focus on?

NRP concentrates on high-growth Sun Belt metros including Dallas, Houston, Phoenix, Charlotte, Tampa, and Atlanta, where population and job growth drive multifamily demand. It also maintains a book of business in Midwestern markets such as Cleveland and Columbus, reflecting its Ohio roots. The firm's London and Toronto offices support capital-raising and investor relations, though its development activity remains US-focused.

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/nrp-group

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