May 19, 2024

Housing Finance Development

It's Your Housing Finance Development

People on the Move 10.3.22| Housing Finance Magazine

The NRP Group Names EVP of Development in Texas

Christopher O’Neill has joined The NRP Group as executive vice president of development in Texas.

Christopher O'Neill
Christopher O’Neill

“We are thrilled to have Chris bring his expertise to our team and continue to follow the NRP mission to create outstanding rental communities for individuals and families, regardless of income,” said Ken Outcalt, president of development at The NRP Group. “He has an established track record of developing exceptional multifamily communities, and we are confident he will accelerate the growth of our pipeline and lead our development team to new markets.”

A vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing, the firm continues to expand its footprint in Texas, with a pipeline of approximately 4,045 market-rate and workforce housing residences underway. O’Neill will oversee the expansion of the Texas development pipeline in addition to other Western markets like Arizona, Colorado, and Nevada.

Prior to joining NRP, O’Neill was managing director at Hines, a global real estate investment and management services firm. During his tenure at Hines, he served as the first project manager for the Southwest region’s multifamily platform and managed the region’s first multifamily development, Waterwall Place. He also managed deals in the Southwest region for approximately 10 years and went on to scale the business group and spearhead Hines’ suburban multifamily efforts throughout Arizona, Colorado, and Texas. O’Neill managed the development of nearly 8,000 units exceeding $2 billion in value.

Koffman Becomes President of The Hudson Cos.

Longtime managing principal Aaron Koffman has been named president of The Hudson Cos., where he will oversee the firm’s strategic vision and expand the company’s affordable and market-rate development portfolio nationwide while managing day-to-day operations.

Aaron Koffman
Aaron Koffman

David Kramer, the company’s president since 2012, moves to CEO and will remain responsible for pursuing large-scale, market-rate ventures.

A private real estate development company that started in 1986, Hudson has grown into a leading developer of new housing for all market segments in the New York metropolitan area. To date, the firm has completed more than 7,000 housing units and has almost 7,000 additional units in construction or predevelopment.

Koffman joined Hudson in 2008. As managing principal, he led the firm’s affordable housing pipeline and portfolio and, as of early 2021, its development team, while also chairing the investment committee. Before joining Hudson, Koffman held various positions at Forest City Ratner Cos. and the New York City Housing Development Corp.

This year, he has been instrumental in overseeing several significant development across the city, including:

· Logan Fountain, a mixed-use project being developed under the 2016 East New York rezoning, which will transform a defunct gas station into 174 permanently affordable homes, 169 transitional homes for homeless families, and retail space. Hudson, The Jericho Project, and HELP USA closed on $117 million in financing for the affordable and supportive housing and $97 million for the new shelter with the city and state in June;

· Cooper Park Commons, formerly the site of the Greenpoint Hospital in East Williamsburg, Brooklyn. This year, Hudson began work on the 550-apartment, 100% affordable project with nonprofit St. Nicks Alliance. Cooper Park Commons will also include a 200-bed shelter run by Project Renewal, featuring office space, a cafeteria, a children’s room, a study, a workshop, community space, a clinic, and a fitness room; and

· The Lirio, a mixed-use development in Hell’s Kitchen, Manhattan. The project, which recently received City Council approval, will be developed with Housing Works and will include 112 affordable homes, 59 of which will have supportive services with a preference for long-term survivors of HIV/AIDS, office space for the Metropolitan Transportation Authority, and neighborhood retail space.

The Delores Project Announces Leadership Transition

The Delores Project has announced the departure of CEO Stephanie Miller and its leadership transition plans.

Officials praised Miller for her work, saying she leaves a legacy of transformative and sustainable improvements to the organization’s operations despite the pandemic, including adapting its shelter from overnight only to 24 hours, successfully adopting a Housing First model that prioritizes permanent housing, and maintaining staff well-being.

“It has been an honor to serve as CEO of The Delores Project for three years. Working in tandem with government leaders to provide dignified housing solutions for Coloradans of all backgrounds wasn’t without its challenges like the pandemic, but we overcame them and thrived together,” said Miller. “My tenure might be ending, but The Delores Project’s work toward ensuring housing is attainable for all will go on.”

The Delores Project operates a 24/7 low-barrier shelter serving 60 women and transgender individuals year-round. Additionally, The Delores Project operates a furnished 35-unit supportive housing building, the Delores Apartments at Arroyo Village, serving people of all genders who were previously chronically homeless and experience physical, developmental, psychological, and substance use challenges.

“We are eternally grateful to Stephanie for how she channeled her incredible compassion toward our staff and guests into expanding our programming’s scope and reach at a critical moment in history. We wish her well in her next chapter in California,” said board president Debra Ellis. “We are also grateful to our interim CEO Emily Wheeland, who has served The Delores Project for seven years. Her experience leading permanent supportive housing and shelter teams makes her the best person to take on this transition period while continuing to thrive.”

The Delores Project is seeking a new CEO to oversee leadership, strategy, planning and advocacy, fund development, program management, organizational management, and financial and legal compliance. Immediate responsibilities include spearheading the development of The Delores Project’s blueprint toward accomplishing its short- and long-term strategic goals.

KeyBank Expands Syndication Platform

Mary Ann Lang has been appointed senior vice president of business development at KeyBank Community Development Lending and Investment (CDLI), where she is responsible for supporting investor relationships and further building out the syndication platform.

Mary Ann Lang
Mary Ann Lang

She is based in Indianapolis and reports to Stacie Nekus, senior vice president and team leader of equity investments.

Lang brings more than 17 years of experience in low-income housing tax credits and the affordable housing industry. Prior to joining KeyBank, she was a managing director at CREA, where she led a high-performing syndication team and was responsible for launching funds and raising capital.

A leading affordable housing capital provider, KeyBank CDLI finances projects that stabilize and revitalize communities across all 50 states.

JLL Adds to Affordable Housing Team

Danté Thomas, managing director, has joined the affordable housing production team at JLL Capital Markets. In his leadership role, his responsibilities include optimizing financing solutions from a variety of capital sources, including Fannie Mae and Freddie Mac.

Dante Thomas
Dante Thomas

Thomas is based in the Philadelphia office and reports to senior managing director Angela Kelcher, who is leading the national affordable housing debt production team.

He most recently served as vice president of product originations for Berkadia Commercial Mortgage, working directly with originators, clients, and capital providers to structure transactions geographically dispersed throughout the country. Earlier, Thomas served as director of real estate for the Housing Partnership Equity Trust. He started his career as a senior asset manager and underwriter with Fannie Mae’s multihousing mortgage business and also worked for the District of Columbia Housing Finance Agency as a senior development officer

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Greenberg Moves Up to President of Cinnaire Lending

Sarah Greenberg has been appointed president of Cinnaire Lending. She brings more than 19 years of experience to the role, serving most recently as Cinnaire’s senior vice president, affordable housing and lending, where she oversaw real estate lending and played a key role in structuring the lending department to support the organization’s continued growth.

Sarah Greenberg
Sarah Greenberg

In her new role, Greenberg will set the strategy for Cinnaire Lending’s growth in both affordable housing and community development debt financing. She will also manage the teams responsible for originating, underwriting, and closing loans for the full range of Cinnaire Lending products.

A nationally recognized leader in affordable housing and community development, Greenberg has worked in community investment for more than 19 years, holding leadership positions at NeighborWorks America, Forward Community Investments, the Northwest Side Community Development Corp., and High Impact Financial Analysis. During her tenure at NeighborWorks, she was one of the founders of the National Community Stabilization Trust, a national nonprofit created to facilitate the transfer of foreclosed properties to responsible community organizations.