RALEIGH, N.C., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Harmony Housing Affordable Development Inc. (HHAD), a newly-formed wholly-owned subsidiary of Harmony Housing, is acquiring the property development, development management, and advisory business of Greystone Affordable Development, effective immediately. Harmony Housing Affordable Development Inc.'s mission is to increase and preserve critically needed affordable housing in the U.S., which it has committed to doing through its predecessor's history as a leading affordable housing developer.

Throughout its history, the development group has preserved, redeveloped, and constructed over 16,725 units of affordable housing for families and seniors in both rural and urban areas, helping to address the critically low levels of affordable housing for underserved populations in the U.S. As part of Harmony Housing, the group is now closely aligned with an established owner / operator of similar housing with which the group has partnered in the past.