Hillpointe: Redefining Workforce Housing Through Vertical Integration
In the complex world of real estate investment, few firms have carved out a niche as specific and socially impactful as Hillpointe. Based in Winter Park, Florida, Hillpointe has emerged as a leader in the development of "attainable" workforce housing across the American Sun Belt. By combining a unique vertically integrated business model with a focus on the "missing middle" of the housing market, the firm is addressing one of the most pressing economic challenges in the United States today.
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| Hillpointe |
The Vision: Solving the Workforce Housing Crisis
The term "workforce housing" refers to high-quality rental housing that is affordable to households earning between 60% and 120% of the Area Median Income (AMI). These are the "doers" of society—nurses, teachers, police officers, and service industry professionals—who often earn too much to qualify for government subsidies but not enough to afford luxury "Class A" apartments.
Hillpointe’s mission is built on three core observations:
Massive Undersupply: While thousands of luxury units are built every year, very few new developments target the median income earner.
Population Shifts: There is a historic migration toward the Sun Belt (states like Florida, Georgia, Tennessee, and South Carolina), creating an acute need for housing in these regions.
Cost Efficiency: Traditional developers often struggle to build affordably due to rising material costs and third-party markups.
The "Hillpointe Difference": Vertical Integration
What sets Hillpointe apart from traditional real estate investment trusts (REITs) or private equity firms is its fully integrated platform. Unlike competitors who outsource construction and management, Hillpointe controls every step of the lifecycle:
| Stage | Hillpointe's Role | Impact |
| Land Acquisition | In-house sourcing and underwriting. | Faster closing and better site selection. |
| Construction | Direct control through in-house general contracting. | Reduction of "middleman" fees and better quality control. |
| Procurement | Global sourcing of building materials. | Lower cost basis (often $50k–$60k less per unit than peers). |
| Management | In-house property and asset management. | Higher tenant retention and operational efficiency. |
By eliminating external developer fees and construction markups, Hillpointe can deliver Class A quality apartments at rental rates that are significantly more affordable than nearby luxury developments.
Scale and Financial Impact
Since its founding in 2018 by Kelly Mahoney and Steven Campisi, Hillpointe has seen explosive growth. As of early 2026, the firm’s track record includes:
Fund V Milestones: Recently closed its fifth fund at a hard cap of $750 million, significantly exceeding its initial target.
Massive Pipeline: The firm is projected to support the development of approximately 30 projects representing roughly 10,000 units and over $2 billion in total asset value.
Geographic Focus: Deep roots in fast-growing metros across Florida, Georgia, and the Carolinas, including major investments in distribution and logistics facilities to support their supply chain.
Advocacy and Innovation: The HAWCS Initiative
Beyond building physical structures, Hillpointe is actively involved in the policy side of housing. In 2025, the firm launched Housing and Workforce Collective Solutions (HAWCS), a non-profit organization dedicated to advocating for systemic change. HAWCS focuses on:
Zoning Reform: Working with local governments to modernize outdated zoning policies.
Renter Empowerment: Helping essential workers find a voice in their communities.
Public-Private Partnerships: Creating collaborative models that can be scaled nationwide.
Conclusion
Hillpointe is more than just a real estate developer; it is a proof-of-concept for how the private market can solve social problems when combined with operational excellence. By focusing on the Sun Belt and maintaining a "builder-owner" mindset, they are providing a blueprint for the future of attainable living in America.