Affordable Housing Finance

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AFFORDABLE HOUSING FINANCE • February 2009

McQuady Becomes Kentucky Housing CEO

Richard L. McQuady has been named CEO of Kentucky Housing Corp. He had previously been serving as interim CEO since January 2008 and has worked at the agency for 23 years.

A native of Louisville, Ky., McQuady has held several key posts at Kentucky Housing, including chief programs officer, chief operating officer, and chief financial officer.

Mercy Housing Names CFO

Vincent L. Dodds has been appointed chief financial officer and senior vice president of Mercy Housing. Dodds is responsible for ensuring the integrity of financial reporting, strategic financial planning for the organization, and planning and monitoring the organization’s liquidity and borrowing positions. He also leads the accounting, audit, treasury, and tax functions.

Mercy Housing has developed more than $1.9 billion in affordable real estate and has provided homes for more than 115,000 people.

Before joining Mercy, Dodds was a vice president at Borderplex Community Trust. He served as a financial and accounting officer for the commercial property real estate investment trust that specializes in office and retail property investments in El Paso, Texas. Prior to that, he served as chief financial officer and interim president and CEO of the Housing Authority of the City of El Paso.

APAH Makes Leadership Moves

Nina Janopaul has assumed the new position of president and CEO at Arlington Partnership for Affordable Housing (APAH). Janopaul had served as executive director since early 2007.

APAH is a nonprofit that owns and develops affordable housing in Arlington County, Va.

The group also announced that Carolyn Settles, who has been president and chair for the past two years, will continue as chair. Brooks Blake will be vice chair.

VOA Names Strategy Executive

Rosemarie A. Rae has been named executive vice president of strategy at Volunteers of America. In this newly created position, Rae will guide the longtime nonprofit organization as it establishes itself as a leading provider of services to the nation’s growing seniors population.

She will work with VOA national and local leaders to integrate new aging services into the organization’s array of programs.

Rae has served as chief financial officer for VOA since 2006. She previously worked for Golden Living Centers, a provider of services to the elderly and disabled, where she was responsible for Medicare and Medicaid funding strategies.

Phipps Houses Adds VP

Michael Wadman has been named vice president of real estate development at Phipps Houses, a leading nonprofit affordable housing organization in New York City.

Prior to joining Phipps, Wadman was managing partner of Hudson Affordable Housing, LLC, where he developed a pipeline of 2,000 affordable housing units. He also spent eight years at the New York State Housing Finance Agency and has been a community development lender with JPMorgan Chase.

Phipps Houses owns 4,500 affordable apartments through affiliates, with another 2,300 in construction or development, and manages a total of 12,100 units, including its own.

Property Management Vet Joins Guardian

Pam McCarthy has joined Guardian Management, LLC, to oversee the company’s more than 1,300 multifamily units in Phoenix and to lead new business development in Arizona.

She brings 20 years of property management experience to the firm. Guardian is a full-service real estate investment and property management company based in Portland, Ore. It manages both market-rate and affordable properties.

Wesley Names Vice President

Northern Virginia nonprofit housing developer Wesley Housing has hired Leslie A. Steen as vice president of real estate. She will oversee the real estate development, asset management, and property management departments. Steen most recently served as the housing chief for the District of Columbia for Mayor Adrian Fenty. Additionally, she was the founding president and CEO of Community Preservation and Development Corp. from 1989 to 2004, as well as vice president for policy and business development for The Housing Partnership Network.