National CORE has once again been recognized among the nation’s leading nonprofit affordable housing developers and owners by Affordable Housing Finance Magazine, ranking No. 5 among developers and No. 9 among owners for 2024.
This latest recognition underscores National CORE’s consistent presence in the top 10, reflecting the company’s innovative efforts to address the housing crisis with sustainable, beautiful and high-quality communities.
“It is a great honor to be ranked among so many prestigious housing developers,” National CORE President Michael Ruane said. “However, the true honor is that each year, National CORE builds more homes for our nation’s most vulnerable populations. We thank Affordable Housing Finance Magazine for shining a light on our work.”
Developer rankings are based on construction starts and completions in any given year and ownership rankings derive from the overall number of apartments owned. As a result, rankings can shift each year.
In 2025, National CORE is completing 400 apartments and starting construction on 1,000 more. In October, the company held a grand opening for Oak View Ranch Family Apartments in Murrieta, delivering 119 apartment homes to individuals and families earning between 30% and 60% of the area median income.
The community is the first phase of a 200-home multigenerational community. The second phase, Oak View Ranch Senior Apartments, broke ground in October and will deliver 81 apartment homes for seniors, ages 62 or better, in 2026.
Throughout 2025, National CORE had 22 properties under construction; 13 more properties are expected to start construction in 2026.
Leaders credit the strong numbers in part to the company’s innovative approach to funding development, including the landmark issuance of $100 million in taxable bonds in 2022 – only the second such offering by a nonprofit affordable housing developer in the United States. The bond funding has provided greater flexibility in acquiring, developing and preserving high-quality affordable housing communities.
Known as much for its innovation as for its mission, National CORE also leverages the expertise of its divisions in urban planning, relocation, construction, sustainable design and property management, further diversifying revenue while strengthening the affordable housing field.
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