Development • Preservation • Property Management
Great Expectations
Affordable Housing. Done Right.
Great Expectations is a vertically integrated real estate firm focused on building, preserving, and managing affordable housing across the Pacific Northwest. With a $350 million portfolio and over 150 mission-aligned investors, we deliver housing that’s financially sound, community-rooted, and built to last.
We’ve developed or acquired 1,200 homes to date and operate a total of 2,800 units across 42 properties — all through a model that aligns capital, construction, and day-to-day operations.
Development
We build where it matters most.
Our team delivers high-impact affordable housing through Opportunity Zones, recycled bond deals, and public-private partnerships. We specialize in tough sites, complicated capital stacks, and projects that require careful community collaboration — bringing new homes online every year for low-wage workers, families, and seniors.
Preservation
We protect affordability and unlock value.
We step in where others falter — acquiring and stabilizing distressed or at-risk housing. With 12 preservation deals completed in four years, we know how to navigate expiring subsidies, neglected operations, and urgent repair needs. Our focus: keeping residents in place and properties financially viable for the long term.
Property Management
Built for Affordability and Complexity –
Arboreal Management
Our in-house management company, Arboreal Management, oversees 2,800 units across 42 properties, including both our 15 owned assets and select third-party buildings. We operate a purpose-built platform for affordable and workforce housing — and we’re one of the only firms with a proven track record managing eco-housing and micro-studio portfolios.
From micro-units to Section 8 properties, Arboreal delivers:
- Consistently high occupancy
- Deep compliance expertise
- Tech-enabled, data-driven operations
Our Roots: Eco-Housing
We got our start developing eco-housing — ultra-efficient micro-studios — designed to be economically and ecologically sustainable. These homes offer an affordable, low-footprint housing option for urban renters. While our work has grown to include family housing and mixed-income communities, eco-housing remains a key part of our portfolio — and one of our biggest operational strengths.
No one else manages this product type at scale.
We do — and we make it work.
Our Edge: Integration
By aligning development, ownership, and operations under one roof, we shorten feedback loops and improve outcomes:
• Design smarter buildings based on real operational data
• Control costs through in-house staffing and maintenance
• Achieve scale while staying resident-centered
By the Numbers
• $350 million in total asset value
• 1,200 homes developed or acquired
• 2,800 units under management
• 42 properties across the region
• 150+ investor partners
• 95% average occupancy
Partner With Us
We work with cities, tribes, housing authorities, and impact investors to build the next generation of affordable housing. If you’re looking for a partner that can do the hard stuff — from zoning to leasing — we’d love to talk.
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