The Real Deal Miami

Developer of affordable homes turns to market-rate projects

New direction for Housing Trust Group fueled by improving economy
October 23, 2014 04:25PM

Matt Rieger

Matt Rieger

Housing Trust Group is taking advantage of the economy’s rebound to pivot to a different strategy.

According to an interview in the Daily Business Review, Matt Rieger, president and CEO, said that the family-owned business has specialized in affordable housing and apartments for seniors. Then the housing market crashed and the company retrenched.

Now that market has rebounded, Housing Trust is recovering as well, expanding in South Florida, Arizona and Tennessee. The company is building out its roster of multifamily developments and pushing for market-rate projects.

“We’re looking to develop high-end rentals because we’ve seen some very, very strong demand in Dade and Broward over the past two years since the market has recovered,” said Rieger. [Daily Business Review]