LMXD is a New York-based development firm and an affiliate of L+M Development Partners, formed to focus specifically on mixed-income housing rather than the fully affordable or fully market-rate ends of the business. That positioning matters in practice because mixed-income deals stack subsidy, tax credit equity and conventional debt in the same capital structure, and the unit mix has to satisfy all of them at once. The firm works on urban infill and public housing redevelopment where existing residents have a right to return. LMXD is co-developing the Westpark Redevelopment in West Philadelphia with MSquared, a joint venture delivering a $205 million first phase of 327 units for the Philadelphia Housing Authority, with full buildout planned at 1,000 homes.
David Dishy leads LMXD as chief executive. Ron Moelis is chairman and founding partner of L+M Development Partners, the parent platform, which over forty years has been responsible for roughly $20 billion of development and investment and more than 57,000 residential units developed, acquired or preserved. LMXD’s own pipeline currently runs above $3.4 billion and 6,000 mixed-income units in predevelopment, construction and operation.
The affiliate structure is what makes the model work. Construction is delivered through L+M’s builders team, property management through C+C Apartment Management, which oversees more than 23,000 affordable and market-rate apartments, and capital through L+M Fund Management, which has closed $4.9 billion in transactions. Community engagement is treated as an in-house capability rather than a consultant line item.
Capital stacks layer Low Income Housing Tax Credits with Historic and New Market Tax Credits, tax-exempt bonds, private debt and private equity. Rezonings and brownfield remediation are handled as part of the development work rather than as preconditions handed to someone else.
Essex Crossing on the Lower East Side is the completed flagship. Current and recent work includes Miramar and Claremont Hall in Manhattan, the National Black Theatre redevelopment, Hahne & Co. in Newark, Winchester Works in New Haven, and the Westpark redevelopment in Philadelphia, with other projects reaching New Rochelle, Long Island City, Brooklyn, Washington DC and San Francisco.
A recurring pattern in the portfolio is cultural space built into housing. The National Black Theatre, the People’s Theatre Project, the Newark Museum, the International Center of Photography, the National Dance Institute and the New Jersey Performing Arts Center have all been accommodated in LMXD or L+M buildings.
Sustainability experience across the family of companies covers Passive House, LEED design, geothermal and solar. The office is at 2 Park Avenue.
