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Camber Property Group says 2026 is its busiest year
The New York developer is pursuing a $167 million redevelopment of Chelsea Beacon and a $62 million modernization of NYCHA’s Unity Towers.
New York-based Camber Property Group is marking a decade in business and says it has its busiest year yet, according to an interview with principal and co-founder Rick Gropper by Commercial Observer. Founded in 2016 by Gropper and Andrew Moelis, the real estate development and management firm focuses on building and preserving affordable, mixed-use and transitional multifamily housing.
Camber said its work has been tied to two major housing announcements this summer. One is the start of construction on a $167 million redevelopment of Chelsea Beacon at 550 West 20th Street, which will replace the former Bayview Correctional Facility with 131 affordable units, supportive housing, and community spaces.
The firm also was selected for the $62 million modernization of NYCHA’s Unity Towers in Coney Island. Commercial Observer reports Camber is further expanding its national portfolio, bringing its experience in turning around distressed assets and building new housing to Pennsylvania, Connecticut, New Jersey, and Ohio.
Gropper said he has about 20 years in affordable housing, starting as an intern through Columbia University’s real estate development program after graduate school, and later working through roles that covered acquisitions, financing, construction, design, and navigating governmental approvals. He emphasized an operational approach to problem-solving in order to complete challenging deals in the affordable housing sector.