Mary R. Kenney was named executive director of the Illinois Housing Development Authority (IHDA).
She succeeds Gloria Materre, who recently became head of the Illinois Liquor Control Commission. Materre held the top post since September 2009.
Kenney has been IHDA's general counsel and had been serving as acting executive director.
She also administered IHDA's homeownership portfolio during the late 1980s before entering law school. She joined the Johnson & Bell law firm in 1994 and then returned to the housing agency as general counsel in 2000.
Wambua Takes Over HPD, Cestero Joins L+M
New York City Mayor Michael Bloomberg appointed Mathew M. Wambua commissioner of the Department of Housing Preservation and Development (HPD). He replaces Rafael E. Cestero, who left to become a managing director at the affordable housing firm L+M Development Partners. He will focus on expanding the company outside of New York, with a focus on the West Coast, the Gulf Coast region, and New Jersey.
Wambua has served in the Bloomberg administration since 2002. In 2008, he became executive vice president of the New York City Housing Development Corp., one of the nation's largest issuers of multifamily affordable housing bonds and a finance arm of HPD. Previously, he served as a senior policy adviser in the mayor's office, where he oversaw a portfolio of agencies, including HPD.
Prior to his public service, Wambua worked at GE Capital Community Real Estate, Arthur Andersen, and the Partnership for New York City.
Stratford Names SVP
Robert Y. Wong has joined Stratford Capital Group as senior vice president.
Wong brings 20 years of low-income housing tax credit (LIHTC) industry experience to the firm. His background includes originating, structuring, and closing all types of affordable housing transactions.
Prior to joining Boston-based Stratford, he held senior acquisition positions at several national tax credit syndication firms.
Bullock Joins CREA
Bradley Bullock has joined City Real Estate Advisors, Inc., as senior vice president of acquisitions.
Bullock has more than 24 years of affordable housing industry experience, most recently as head of advisory services for Guardian Real Estate Services. Prior to that, he was head of asset resolutions for Capmark.
In 1998, he and his partners sold Arcand Co., a LIHTC syndicator to PNC Bank. He assumed responsibilities for PNC's national affordable acquisitions platform.
Bullock is based in Portland, Ore., enhancing CREA's presence in the California and West Coast market. The firm is headquartered in Indianapolis.
Governor Appoints CalHFA Head
Gov. Jerry Brown appointed Claudia Cappio as executive director of the California Housing Finance Agency.
For the past 30 years, she has served as development director, city planner, and major projects and building manager for several local governments in the San Francisco Bay Area.
Cappio served as development director for the city of Oakland when Brown was mayor.
Steven Spears, who recently served as CalHFA director, will stay on as the agency's chief deputy director.
Sfreddo Moves to Red Stone
Ryan P. Sfreddo has joined Red Stone Equity Partners as director of investor relations.
He is responsible for the origination and placement of LIHTC investments for institutional clients. In addition, Sfreddo will help build the firm's New York syndication office and presence.
Prior to joining Red Stone, he was a managing director at Centerline Capital Group, overseeing the tax credit fund management business. Since 2002, Sfreddo played a significant role in raising more than $5 billion of equity for Centerline-sponsored tax credit funds.
Prior to that, he was responsible for the acquisition of properties financed with LIHTCs and/or historic tax credits. He participated in the structuring and closing of more than 200 real estate transactions.
AMCAL Promotes Ramirez
Maurice Ramirez has been promoted to executive vice president at AMCAL Multi-Housing, Inc., one of California's leading builders of affordable and workforce housing.
He will oversee the firm's development and asset management departments and manage project development through different departments, including acquisitions, finance, and construction.
Ramirez joined AMCAL in 2006 as vice president of operations and development.
Since 1995, AMCAL has completed 38 communities with 3,477 units.