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At UPholdings, we create, operate, and sustain the highest quality of affordable housing, and we do this throughout the country. We are committed to being community partners who are in it for the long run.

UPholdings is the umbrella company that represents the continuum of the professional services we offer and provide through our legacy organizations: 

UP Development LLC (UPD) – CREATE


UPholdings, LLC – SUSTAIN

UPholdings is backed by the same longevity and capacity means that our founders built up through their original property management company.

UPholdings represents our company’s unified strategic vision for our affordable housing developments; through the creation of UPholdings, we have clarified our mission of providing housing for the most vulnerable residents in the community—a vision that spans from inception through the life of each projects, which is often, as intended, at least 30 years and beyond.


UPholdings is a partner for communities, through our nonprofit and social service collaborations, our tenant engagement services, and our long-term asset management services.

Since our founding as an affordable housing development and management company, we have grown and expanded. UPA, a property management company, and UP Development, a real estate development company, merged in 2010 to transform into the unified company that we are today. Our founders, co-owners Cullen J. Davis and Jessica Hoff Berzac, created this comprehensive real estate firm that is dedicated to creating, operating, and sustaining quality affordable housing in communities throughout the United States.

Our team is deeply committed to working with the most vulnerable community members on a continuous and long-term basis while we continue to design, build, and own housing that exceeds the industry’s standards for both quality and efficiency. At UPholdings, we believe that everyone has a right to high quality and accessible housing, and that housing is the foundation to wellness and opportunity for both individuals and families.


Download our current Corporate Profile (2024), including a summary of our impact, our Create, Operate, and Sustain departments, profiles on our co-owners - Cullen J. Davis & Jessica Hoff Berzac - and housing highlights on Project Homekey, our political persistence, and our funding strategies.


We're excited to unveil our 2023 Annual Report, reflecting on a year of growth and stability fueled by the dedication of our exceptional staff and partners. Despite challenges, we've navigated funding dynamics and tightened budgets with a focus on stewardship, allowing us to thrive and expand our impact and partnerships. Take a look at what we've accomplished together!


Feel free to share this report with your networks, and thank you for the ways you support UPholdings and our work to create, operate, and sustain the highest quality of affordable housing!

ALL ANNUAL REPORTS (click covers to download):

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The Business Journal

June 1, 2023

Join us in celebrating the momentous occasion as Finca Serena proudly unveiled its grand opening on May 30th! Be a part of this remarkable journey in the fight against homelessness by clicking the link below to discover the inspiring story behind this incredible milestone.


Terner Center For Housing Innovation

March 17, 2022

A new report explores lessons from the first round of funding for California’s Homekey initiative, an innovative program to address homelessness by dramatically increasing funding for permanent supportive housing.


Affordable Housing News

April 27, 2022

The Spring edition of Affordable Housing News is out now! Check out the spread on pages 64-67 featuring Upholdings and its mission to end homelessness



June 17, 2021

PORTERVILLE – The Porterville City Council took swift action during its meeting on Tuesday on two matters that should substantially help deal with the issues of homelessness and providing services for the most vulnerable in the community. The council approved $20 million in financing to come through a state agency for an 80-unit affordable housing development to be located at 385 South E. Street. 


Merced Sun-Star

March 31, 2022

Gov. Gavin Newsom’s office announced Wednesday the City of Merced is set to receive $24 million to help provide housing for people experiencing — or at risk of experiencing — homelessness.



May 14, 2021

CLOVIS – The city of Clovis saw construction start Friday on its first-ever permanent housing project for some of the area's most vulnerable residents. Dubbed Butterfly Gardens, the $18 million project will be a 75-unit complex in the city's southwest, spearheaded by low-income housing developers UPholdings and Self-Help Enteprises.



Meet Cullen


Cullen is a graduate of Northwestern Law who leveraged his legal education to create a diversified and integrated real estate company.  With more than 9,000 units under management and 1,300 units in his personal portfolio, Mr. Davis uses this platform to effect social change across the country in the development of affordable housing for those who are most in need.  In the past 20 years, Mr. Davis has pioneered economic housing models that are the basis for Supportive Housing as we currently know it, created housing in areas of great need, and altered the arc of tens of thousands of people by providing safe housing and meaningful services to create positive outcomes.  He currently operates four companies and lives in Chicago with his two children.  He is an avid boxer, Peloton biker, and art collector.  His philanthropic commitment to his community remains strong and he continues to fund a variety of programs for at-risk youth.

Meet Jessica


Jessica, co-owner and principal of UPholdings has 19 years of affordable development experience and has created hundreds of affordable housing units and developed a pipeline of thousands more. Jessica specializes in creating community partnerships with service providers and non-profit organizations and is dedicated to creating opportunities for special needs individuals to live in affordable and supportive housing. She facilitates the UPholdings development process including site acquisitions, local entitlements, financing strategy and project design, closings and program compliance. Ms. Hoff Berzac is well-versed in the process of community engagement and knows the importance of building a project and team with a broad network of support.


After receiving a B.A. in Theatre Arts from Kalamazoo College, Jessica lived in Chicago for 15 years and dabbled in the arts before finding her own professional home in affordable housing development. She now lives in her hometown of Fresno, CA with her husband, a high school theatre and film teacher, their three young sons, and their dog Sammy.

Kelly Brown


in the Management division of UPholdings, Ms. Brown has been working within the property management and asset management compliance industry since 1998. She insures the project is compliant with various affordable housing programs and that it operates at owner investor expectations. Ms. Brown's passion for service-enriched housing inspired her to author the Blended Management model used by UPholdings and later adopted by the Chicago Housing Authority's Resident Services department for mixed-income units. Kelly holds a BA from the University of Colorado. She's certified in tax credit management and affordable housing compliance. She has one daughter in college, and in her free time, she enjoys music and traveling.

Mike Noeh


in the Accounting and Finance division of UPholdings. Bringing twenty-seven years of business and finance experience to the team, Mr. Noeh directs the financial functions and operational procedures of the organization. Mr. Noeh is a licensed real estate broker and a certified public accountant, and he graduated from the University of Illinois with a bachelor of science in accounting. An active member of the Chicago Commercial Real Estate Roundtable, he has participated in several industry panel discussions including one for the Association of Industrial Real Estate Brokers (AIRE).

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 is a manager of property accounting for UPholdings. Ms. Nguyen prepares all the financial reports for UPA, Villa, and H&J, and she is the company’s go-to Skyline troubleshooter. She enjoys collaborating with her co-workers to create innovative solutions to problems. Baokhanh received her bachelor degree in business management from Northeastern University. She loves dancing and being silly with her three-year-old.


 is the human resource and office manager in the Management division of UPholdings. A team member since 2002, Ms. Liang enjoys being involved in all aspects of the business and meeting diverse groups of people. She studied accounting at the University of Illinois at Chicago and graduated with a bachelor degree in business from Robert Morris University. She loves exploring restaurants and trying new foods, and she loves her two dogs.


is a development manager in the Development division of UPholdings. Ryan focuses on taking projects from initial concept through to financial closing. He works to bring government agencies, service providers, design professionals, finance institutions, and other stakeholders into a shared vision for high-quality affordable housing. Ryan received his bachelor’s degree in philosophy from Wake Forest University, and his master’s degree in urban planning and policy from the University of Illinois at Chicago. Ryan has called Chicago home since 2009.


is a real estate manager in the Development division of UPholdings, and her work focuses on construction management. She enjoys seeing projects progress from the early ideas discussed between partners through to the completion of their construction, and she enjoys participating in all the steps that come in-between. She has a bachelor’s degree in public affairs from Indiana University and is currently finishing her thesis to obtain her master’s degree in urban planning and policy from the University of Illinois at Chicago. Outside of work, Caitlin enjoys spending time with her family and friends, reading, and giving her best effort when trying out new recipes.

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At the Administrative Services Division of UPholdings, we handle all of the “back office” departments and their functions, including Human Resources, Finance, and Accounting. Under the direction of Mike Noeh, our director of finance, we serve not only UPholdings, but our sister companies Urban Property Investors (UPI) and Hallmark and Johnson.

For all inquiries regarding UPholdings Administrative Services, please contact Allison Liang, the Administrative Services Division’s office manager, at or (773) 736-1244.



If you are passionate about people and making an impact, we'd love to talk! We, at UPholdings, take great pride in being an essential part of our communities. When working with us, you will feel part of the community as well.

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