NRP Group Appoints Andrew Bailey as Vice President of Midwest Development

Cleveland-based developer The NRP Group has appointed Andrew Bailey as vice president of development for the Midwest region. Bailey, who brings nearly 20 years of experience across housing finance and urban policy, will direct site acquisition, deal origination, and public-private partnerships across Ohio and neighboring states.

Bailey previously served as vice president of real estate development at CHN Housing Partners and held executive roles allocating Low-Income Housing Tax Credits (LIHTC) at the Ohio Housing Finance Agency. In his new role, he will guide multifamily projects across affordable, workforce, and market-rate segments through feasibility analysis, capital structuring, and construction.

Bailey noted that development across Midwestern submarkets increasingly relies on layered public-private partnerships, land bank collaborations, and institutional property owners like universities and hospitals. Rising construction costs alongside lagging regional rent growth have widened funding gaps, frequently requiring up to six distinct capital sources to make pro formas viable.

For builders and lenders, the move highlights ongoing demand for sophisticated public-private capital stacks to deliver viable multifamily housing in markets with tight rent-to-cost margins.