Lemor Realty Corporation: A Legacy of Affordable Housing in New York City
Lemor Realty Corporation is a prominent real estate and property management firm with a long-standing history in New York City. Founded by Leroy Morrison in the mid-1960s, the company has focused on acquiring, developing, and managing properties in underserved communities, particularly in Harlem.
Early Years and Growth
Leroy Morrison began his real estate career in the Washington Heights section of New York City while working full-time for the New York Metropolitan Authority. He gradually built the Lemor Realty brand by purchasing properties in Harlem, an area adjacent to Washington Heights. By 1988, his portfolio had expanded to include numerous properties in both neighborhoods.
Expanding into Property Management
In the late 1980s, Leroy’s son, Kenneth Morrison, joined the company to establish and develop the property management division. This marked a significant step in the company’s growth, allowing Lemor Realty to provide comprehensive services to its tenants and further solidify its presence in the community.
Partnerships and Development
Lemor Realty has actively collaborated with various city and state agencies, including the New York City Department of Housing Preservation and Development (HPD), to develop affordable housing projects. Through partnerships with programs like the Neighborhood Entrepreneurship Program (NEP) and the Third Party Transfer Program (TPT), the company has successfully completed numerous projects, contributing to the revitalization of Harlem and other neighborhoods.
Lemor Development Group
In 2014, Kenneth Morrison and Harrison Rayford established Lemor Development Group (LDG) to manage the acquisition and property management division of Lemor Realty Corporation. LDG focuses on acquiring, rehabilitating, and managing vacant and underperforming properties, primarily in Upper Manhattan. The group’s strategic partnerships and innovative financial analysis have enabled it to continue Lemor Realty’s mission of preserving and revitalizing communities.
Commitment to Affordable Housing
Lemor Realty Corporation and Lemor Development Group remain committed to addressing the critical shortage of affordable housing in New York City. Their work has not only provided quality housing for residents but has also contributed to the economic and social development of the communities they serve.
Key Projects and Initiatives
The Robeson: A 10-story mixed-use new construction project in Harlem.
Conclusion
Lemor Realty Corporation and Lemor Development Group have established a strong legacy of providing affordable housing and revitalizing communities in New York City. Their commitment to partnerships, innovation, and community development has made them a key player in the city’s real estate landscape. As they continue to grow and expand their reach, their impact on the lives of residents and the neighborhoods they serve will undoubtedly remain significant.
