Lisa Gomez and David Dishy

LMXD, a brand under the L+M umbrella, spent 2025 like it has every year: developing, redeveloping and preserving affordable housing.

The firm completed more than 5,000 units of housing last year. In New York alone, LMXD completed over 1,400 units in 2025, focusing on projects that not only provide affordable housing in a city desperate for it, but that also have strong cultural and community significance.

“Part of what we love to do is projects that take affordable housing or workforce housing and combine them with interesting cultural and civic anchors,” said LMXD CEO David Dishy. “These are unbelievably compelling destinations.”

One such project — a collaboration between L+M, MSquared and Taconic Partners — was the Miramar at 405-407 West 206th Street, a 698-unit housing development with a 50-50 market-rate and affordable ratio. It’s also providing a home for the People’s Theater, a cultural and performance arts organization led by immigrants and women of color. The development was completed in the second quarter of 2025, while the theater is expected to open this fall.

“We make great residential projects that have a soul in them as well,” Dishy said.

2025 was a transformative year for affordable housing, particularly in New York City, where local and state governments passed legislation to incentivize the creation of more affordable units.

“Affordable housing, workforce housing and mixed-income housing were finally the cool kids in the real estate ecosystem,” L+M CEO Lisa Gomez said. “It’s been really exciting to see the work that we do really come into the public discourse in a really big way. People are more fluent in the work that we do. It’s always nice to feel seen, heard and understood.”

The work that they do isn’t limited to New York City. The firm is in 14 states through various parts of the business and is focused on growing its footprint nationally. Looking at 2026, the firm has almost 4,000 starts or anticipated starts, as well as over 3,000 preservation projects in the works.

“We’ve really begun to be thoughtful about taking our affordable, mixed-income, workforce strategy and figuring out if there are opportunities to do it in three or four strategic regions around the country,” Dishy said. “So that’s been exciting, and that’s definitely a lot of the story of what 2026 and 2027 will end up being about.”