About Neutral

Neutral is a multifamily real estate developer focused on sustainability and the well-being of residents. It was founded in January 2020 by Nate Helbach and Matt Frazer. We are headquartered in Madison, Wisconsin, with an additional office in San Jose, California.

We have successfully completed construction of one Madison project—Bakers’ Place—and are soon to complete another—517 W Main St. Then, we are slated to finish 1005 N Edison St, our 353-unit luxury community in Milwaukee, for which we received $133.3 million in construction financing.

Sustainability standards

Sustainability has always been a part of Neutral's mission. Our use of innovative technologies and renewable materials like mass timber allows us to reliably receive the most challenging certifications.

How we build and operate

Resident first

Our resident-centered approach is what makes us stand out. Whether one stays in a Neutral building for several days, months, or years, they will always get our full attention. We surround our tenants with fresh food, natural light, living plants, and spaces for socializing and active hobbies.

End-to-end control

We are a vertically integrated firm, which means that whatever we can, we manage in-house—from design and construction to software and sustainable building systems R&D. The rest we entrust to our partners.

Ethics and transparency

Being a Certified B Corporation means we follow exemplary ethical standards in our business. We aim for transparent, mutually beneficial relationships with everyone, be it a community member, investor, or resident.

Proven partners

Neutral is partnered with the nation's best, most innovative, and reliable engineers, contractors, suppliers, financiers, and property managers.

Our team

Neutral is made up of passionate people with expertise both in multifamily and mixed-use development. As a vertically integrated firm, we employ a wide range of specialists—from designers to carpenters.