Gornstein Joins DHCD
Aaron Gornstein has been named undersecretary of the Massachusetts Department of Housing and Community Development.
He joins the agency after serving as executive director of the Bostonbased Citizens' Housing and Planning Association since 1990.
He replaces Tina Brooks at the state department. Brooks joined the Local Initiatives Support Corp. last year.
Thielen to Head New R4 Office
Ronne Thielen, an affordable housing industry veteran, has joined R4 Capital, Inc., as an executive vice president. She will open the firm's West Coast office in Santa Ana, Calif.
From 1994 through June 2011, Thielen was a managing director at Centerline Capital Group and its predecessor companies, Related Capital and CharterMac. She is active in numerous industry organizations, including serving as chair of the Affordable Housing Tax Credit Coalition.
CREA Hires Four
City Real Estate Advisors, a lowincome housing tax credit syndicator, has added four new members, growing its employee base to 45.
Susan Calhoun, John Sullivan, and Matt Urbanski are in the firm's Indianapolis office. Calhoun will serve as an asset manager. Sullivan is vice president, account manager, for the acquisitions department. Urbanski is assistant vice president for the credit and underwriting team.
Teresa Shell has joined the Austin, Texas, office as senior acquisitions analyst.
New CEO Takes Over TCB
Bart Mitchell became president and CEO of The Community Builders, Inc. (TCB), in Boston on Jan. 1.
He previously served as COO of the Boston-based organization, one of the nation's largest nonprofit developers of urban mixed-income housing. TCB has developed 25,000 units of affordable and mixed-income housing. Mitchell takes over for Pat Clancy, who retired at the end of 2011 after 36 years with the company.
Cestero Joins CPC
Rafael E. Cestero has been named president and CEO of the nonprofit Community Preservation Corp. (CPC) and its for-profit development subsidiary, CPC Resources, Inc.
Former commissioner of the New York City Department of Housing Preservation and Development, Cestero was recently managing director of L+M Development Partners.
He succeeds Michael Lappin, who retired after leading CPC for 31 years.
New York City-based CPC has fi- nanced the preservation and development of nearly 144,000 affordable housing units.
Recap Hires SVP
Travis D'Amato has become senior vice president at Recap Real Estate Advisors, a Bostonbased firm that specializes in finance, restructuring, and asset management of multifamily properties.
In his new role, he is responsible for building Recap's growing transaction advisory practice. D'Amato joins Recap after serving as vice president of investment sales at CB Richard Ellis.
CHFA Announces LIHTC Officer
Terry Barnard has been named tax credit officer at the Colorado Housing and Finance Authority (CHFA).
He originally worked at CHFA from 1999 to 2005, spending five years as a multifamily loan underwriter. Barnard then went to work for Enterprise Community Investment originating and underwriting Fannie Mae-backed loans in the West and Midwest. Two years later, he joined Enterprise's tax credit syndication group as a development analyst. Barnard returned to CHFA last May in the asset management division.
Carrington Retires from Reznick
Edwina Carrington has retired from Reznick Group, where she was the managing principal of the accounting and business advisory firm's Austin office. She will continue to work with the company and its clients through a new consulting practice, CHK Enterprises, LLC.
Prior to joining Reznick, Carrington served as the executive director of the Texas Department of Housing and Community Affairs.
National CORE Hires Interim CEO
Steve PonTell has been hired as interim president and CEO of National Community Renaissance (CORE), a large nonprofit developer based in Rancho Cucamonga, Calif.
PonTell founded the La Jolla Institute, a nonprofit think tank focused on understanding the impact of the new economy, He replaces Orlando Cabrera as the head of National CORE.