About Paxton Development Group
Founded in 2024, we bring together over 30 years of collective experience in affordable and multifamily housing development.
Who We Are
Founded in 2024, Paxton Development Group brings together over 30 years of collective experience in affordable and multifamily housing development. We set out to build something different: a mission-driven company that puts people first — not just in the communities we create, but in every partnership and decision we make.
We don't just build housing — we create places people are proud to live in. Every project reflects our commitment to thoughtful placemaking, human-centered design, and delivering long-term value for residents and stakeholders alike. By focusing on what matters — quality, integrity, and community — we aim to raise the bar for what affordable housing can and should be.
As we grow, we're focused on helping shape a more equitable housing future — one community, one development at a time.
Our Team
Mario Sariol
Principal of Paxton Development Group, LLC
Mario Sariol has over thirty years of experience in the real estate industry, specializing in accounting, finance, and taxation. He is currently a Principal at Paxton Development Group, LLC, where he provides strategic leadership across all facets of affordable housing development. Over his career, Mario has developed a deep expertise and understanding of the Low-Income Housing Tax Credits (LIHTC) industry, combining technical financial knowledge with a passion for mission-driven work.
Mario began his career in public accounting before joining the Related Group of Florida as VP of Accounting and Controller. He later became CFO of Housing Trust Group, helping it grow into one of the largest affordable housing developers in the country. In 2020, he joined McDowell Housing Partners as CFO and principal, overseeing project development, underwriting, budgeting, asset management, and securing LIHTC awards.
Throughout his career, Mario has played a key role in developing over 35 LIHTC projects (3,500+ units) and more than 7,500 market-rate and condo units. He has closed over $1 billion in all forms of financing, including using 4% and 9% tax credits, tax-exempt bonds, and subordinate sources like SAIL, HOME, and CDBG.
Mario holds a BBA from the University of Miami and a Master of Accounting from Florida International University. He is passionate about creating much-needed affordable housing and believes the LIHTC industry blends purpose with complex financial structure.
Mario lives in Miami and enjoys gardening, exploring the outdoors, and traveling with his family.
Personal Mantra: John Wesley's Rule
"Do all the good you can,
By all the means you can,
In all the ways you can,
In all the places you can,
At all the times you can,
To all the people you can,
As long as ever you can."
Nik Echeverria
Principal of Paxton Development Group, LLC
Nik has over ten years of experience in the real estate sector, specializing in affordable housing development projects. He is currently a Principal and the Executive Director of Development of Paxton Development Group, LLC. Nik oversees strategic planning and execution of affordable housing projects. His role involves acquiring and managing development projects from conception through completion, securing funding, and ensuring compliance with regulations.
Nik previously served as Senior Development Manager at McDowell Housing Partners, where he oversaw the full lifecycle of nine developments totaling over 1,480 units. In 2023, he led the successful financial closing of a 410-unit, $150 million 4% bond deal in Broward County, Florida. Earlier in his career, he worked with Housing Trust Group, where he supported project budgeting, design, and financing.
Nik has extensive experience in developing and building projects with complex financing structures including 4% and 9% tax credits, SAIL, Tax-Exempt Bonds, HOME, SURTAX, and CDBG. He manages site acquisition, due diligence, financing applications, third-party coordination, and guides projects through underwriting and stabilization.
Nik holds a Bachelor of Arts from The Catholic University of America with a concentration in Psychology and a minor in Philosophy..
Nik lives in Miami and enjoys spending free time with his family and friends and playing sports.
Personal Mantra: John Wesley's Rule
“Build with purpose, lead with heart.”