Tredway ranked among top 10 affordable housing developers in 2025 by Affordable Housing Finance
Brooklyn, NY Tredway was named by Affordable Housing Finance as the nation’s 10th most active developer in acquiring and preserving affordable housing in 2025. Tredway acquired 1,917 affordable homes, spanning Coney Island and Rockaway portfolios to developments in New Rochelle, New York and Greenville, South Carolina.
“Tredway had an incredible 2025, expanding our portfolio while providing rental relief and undergoing extensive upgrades for thousands of residents’ homes,” said Will Blodgett, founder and CEO of Tredway. “Our work across these projects demonstrates how developers and localities can protect the most vulnerable populations and keep longstanding communities together. It shows the true power of the Public Private Partnership. We look forward to expanding our impact throughout the rest of the year and creating more opportunities for residents to achieve upward socioeconomic mobility.”
Tredway’s largest acquisition of 2025 was at their Coney Island portfolio, totaling 1,096 affordable apartments. The properties are undergoing significant upgrades, including improvements to building infrastructure like electrical and plumbing systems, enhanced security, and better accessibility while also investing in on-site services that support residents holistically, ranging from nursing care and nutritional counseling to personal finance and life skills education.
The firm also acquired the Ocean Park Apartments in Far Rockaway, a family-designated property comprising 602 affordable apartments. Concurrent with the acquisition, Tredway entered into a new regulatory agreement with the New York City Department of Housing Preservation & Development (HPD) to bring all apartments into rent stabilization and extend the affordability of 423 homes at 60% AMI and 179 homes at 80% AMI. Tredway is implementing a substantial rehabilitation program, including structural repairs, replacement of the parking deck, roof replacement and extensive waterproofing.
In New Rochelle, Tredway acquired Parkside Place, comprising 180 affordable apartments at 60% AMI. They have continued affordability and are undergoing a $5.6 million renovation at the property. Expanding their reach in the Southern United States, Tredway purchased Gandy Allmon Manor I in Greenville, South Carolina.
Tredway continued this momentum into 2026, acquiring 3,428 affordable homes across the country to date. This includes a 16-property portfolio across Texas, totaling more than 1,200 apartments. Tredway is extending long-term affordability for all residents and has committed to investing over $10 million in capital improvements across the portfolio. In New Orleans, the firm acquired more than 1,600 affordable homes, exclusively occupied by elderly and disabled individuals, across 10 properties and five parishes in the greater New Orleans area. They ensured that the properties would remain affordable for at least the next 40 years and plan to spend tens of millions of dollars on resiliency and building wide improvements
Most recently, the firm purchased Restore Housing, a 138-home multifamily property in Bed-Stuy, Brooklyn. Tredway similarly will extend affordability for all homes for 99 years and spend $10 million in capital improvements while establishing a robust resident services program to include food and health services.
By the end of 2026, Tredway plans to own over 20,000 affordable homes while operating in over 35 states.