Business Details
50+ Years
experience
Your Trusted Partner for Property Management
Since 1971, Pennrose has been dedicated to transforming communities through the development and management of high-quality, affordable housing. Our mission focuses on improving lives by creating safe, secure housing communities where residents can build fulfilling lives. With a national reputation for excellence, we combine real estate development expertise with multifamily property management to deliver outstanding value to clients and partners. Our core values of integrity, collaboration, accountability, and innovation guide every project, ensuring we meet the needs of working families while maintaining ethical standards. Over five decades, we've completed 350+ developments totaling $5 billion in costs, demonstrating our commitment to sustainable practices and community engagement.Our leadership team brings decades of industry experience, driving innovation in mixed-income and mixed-use developments. Through Pennrose Impact, we provide on-site support services to enhance resident well-being, while our Corporate Responsibility initiatives focus on environmental sustainability and social impact. Recognized with numerous industry awards, we maintain IREM Accredited Management Organization status and CORES Certification for resident services coordination. With regional offices across the United States, we combine local expertise with national resources to deliver tailored solutions for each community we serve.
Services
Affordable Housing Development
Property Management
Mixed-Use Development
Supportive Services
Community Impact Programs
Details
- Year established: 1971
Highlights and features
- 50+ years of experience in affordable housing development
- IREM Accredited Management Organization status
- CORES Certified resident services coordination
- Nationwide presence with local market expertise
- Comprehensive sustainability initiatives including LEED certification
Associations and certifications
- IREM
- CORES Certification
Services
Affordable Housing Development
We create affordable housing communities through innovative development strategies and public-private partnerships. Our expertise includes navigating complex financing structures and regulatory requirements to deliver quality housing solutions. These developments provide safe, sustainable living environments while addressing critical housing needs in urban and suburban communities across the country.
Property Management
Our comprehensive property management services cover lease-up, stabilization, and ongoing operations for multifamily properties. We specialize in managing market-rate, affordable, and mixed-income housing with a focus on asset preservation and resident satisfaction. Our IREM-accredited team combines national standards with localized execution for optimal property performance.
Mixed-Use Development
We develop mixed-use properties that combine residential, commercial, and community spaces in single developments. This approach creates vibrant, self-sustaining communities with convenient access to amenities and services. Our expertise integrates diverse building types while maintaining financial viability and neighborhood compatibility through thoughtful design and planning.
Supportive Services
Pennrose Impact delivers on-site support services through community coordinators and agency partnerships. We provide resources for resident self-sufficiency, including education, health services, and employment assistance. These programs help maintain housing stability while improving quality of life for residents in affordable housing communities.
Community Impact Programs
Our community programs focus on neighborhood revitalization, youth development, and senior services. We implement initiatives that address local needs through partnerships with nonprofit organizations and government agencies. These programs strengthen community ties while promoting long-term social and economic benefits for residents and surrounding areas.
People
Timothy I. Henkel
Chief Executive Officer and Principal
With extensive real estate experience, Timothy leads Pennrose's strategic direction and growth initiatives while maintaining focus on the company's mission-driven approach to development.
Charlie Adams
President, Development
Charlie oversees all development activities with a focus on expanding Pennrose's affordable housing portfolio through innovative mixed-income and mixed-use projects.
Marsha Blunt
President, Pennrose Management Company
Marsha directs property management operations, ensuring high standards of service delivery and resident satisfaction across the company's nationwide portfolio.
Patrick J. Brala
Senior Vice President and Chief Financial Officer
Patrick manages financial operations, bringing expertise in real estate finance and capital markets to support Pennrose's development and management activities.
Janel Field
Director of Talent Development
Dr. Field leads talent development initiatives, focusing on creating a diverse and skilled workforce aligned with Pennrose's core values and business objectives.
Questions
What types of housing does Pennrose develop?
We specialize in affordable, mixed-income, and mixed-use housing developments across the United States.
Do you offer property management services for non-Pennrose developments?
Yes, we provide management services for both Pennrose-developed properties and select third-party owned properties.
What sustainability initiatives do you implement?
We incorporate LEED certification standards, energy-efficient technologies, and environmentally conscious development practices in our projects.
How do you support resident communities?
Through Pennrose Impact, we offer on-site support services, community programs, and partnerships with local organizations to enhance resident well-being.
What geographic areas do you operate in?
We have regional offices in Philadelphia, Boston, New York, Baltimore, Cincinnati, Atlanta, Denver, and Houston serving local markets.
Are you involved in commercial real estate?
Yes, select developments include commercial spaces for retail and service businesses within our residential communities.
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