Jonathan Rose Adds to West Coast Team
Sarah White has been named director of development in the Oakland, California, office of Jonathan Rose Cos., a leading developer and investor in sustainable, affordable, and mixed-income multifamily real estate.
White will work on existing projects in the company’s development pipeline as well as new business initiatives throughout the West Coast. She brings 16 years of affordable housing development experience, having previously worked for Tenderloin Neighborhood Development Corp. and BRIDGE Housing Corp. in San Francisco, Artspace Projects in Minneapolis, and Clifford Beers Housing in Los Angeles.
Prior to joining Jonathan Rose Cos., her Bay Area development portfolios included approximately 1,300 units of affordable housing in various stages of development and construction, with total development costs in excess of $800 million.
With offices in California, Colorado, Connecticut, New York, Ohio, and California, Jonathan Rose Cos. has developed or acquired more than $3.2 billion of real estate and nearly 18,000 units owned and managed.
NEF Names VP of Originations
Ainsworth Thompson has joined National Equity Fund (NEF) in a newly created position as vice president of originations in the Mid-Atlantic region.
He has been a leader in the real estate industry for more than 20 years with experience spanning housing, community development, and real estate finance, having supported hundreds of millions of dollars in development deals. Thompson has extensive experience underwriting 4% and 9% low-income housing tax credits (LIHTCs), bond financing, Federal Home Loan Bank Affordable Housing Program funding, Rental Assistance Demonstration (RAD) , and subordinate loan funds.
Prior to joining NEF, Thompson underwrote LIHTC equity transactions at Cinnaire, and prior to that he worked at the Federal Home Loan Bank of Chicago. He began his housing career as an entrepreneur building his own real estate finance company from the ground up, eventually growing it to 25 employees. He led his team to originate thousands of home mortgages, often helping families to achieve the dream of homeownership for the first time.
KeyBank Expands Equity Originations Team
Becca Ickowicz has been named a senior banker to expand KeyBank Community Development Lending and Investment’s (CDLI’s) equity originations activity.
Based in Denver, she will focus on KeyBank’s community development banking efforts in the Western states, which are part of the bank’s affordable housing growth plan.
Ickowicz brings nearly a decade of commercial real estate finance and capital markets experience to KeyBank. Prior to joining Key, she was a real estate investment banker with RBC Capital Markets. Previously, she was a commercial real estate credit officer at Deutsche Bank. Ickowicz also worked at R4 Capital in debt originations, fund management, and equity acquisitions.
New Hampshire Housing Names CEO
Robert (Rob) Dapice has been named executive director and CEO of New Hampshire Housing. He was selected by the board of directors to succeed Dean Christon, who retired Dec. 31, 2021, after 34 years with the organization.
Dapice served as the managing director of New Hampshire Housing’s Management and Development Division, which finances and supports affordable multifamily housing in the state. He joined the organization in 2014, became director of housing development in 2017 and managing director of the division in 2019. As part of New Hampshire Housing’s response to the COVID-19 pandemic, Dapice led the effort to provide critical assistance through the creation of New Hampshire Housing’s Shelter Modification Program and the Emergency Assistance Loan Fund. These programs provided vital support to partner organizations that served vulnerable and housing-insecure individuals and families during the pandemic.
Prior to joining New Hampshire Housing, Dapice served as a project manager for North Branch Construction. He was a captain in the U.S. Army and served in Iraq.
New Hampshire Housing has helped more than 50,000 families purchase their own homes and been instrumental in financing the creation of more than 15,000 multifamily housing units.
Churchill Stateside Group Adds to Team
Churchill Mortgage Investment, a wholly owned subsidiary of Churchill Stateside Group, has hired Julie Tyler as Federal Housing Administration (FHA) deputy chief underwriter and Amy Kurto as FHA loan processor.
Tyler received her Department of Housing and Urban Development (HUD) Multifamily Accelerated Processing (MAP) and LEAN underwriter certifications in 2003. Her most recent position was with BB&T, now Truist, eventually rising to deputy chief underwriter.
She has extensive experience underwriting loans for all of the HUD MAP programs, including Sections 223(f), 221(d)(4) NC/SR, 223(a)(7), 202/223(f), and 221(d)(4) RAD transactions. Tyler also has significant experience with the HUD LEAN programs and has underwritten and closed 232 new construction, Section 232/223(f), and Section 232/223(a)(7) transactions.
Kurto brings over a decade of HUD experience as a loan processor and an FHA-approved construction loan administrator. Along with her extensive risk analysis background managing insurance compliance, she has held numerous roles preparing Freddie Mac and Fannie Mae applications. She brings LIHTC, multifamily, bond, debt, and health care expertise to her new role at Churchill.
CDT Appoints VP of Equity Originations
Jeff Crum has been named vice president, equity originations, at the Community Development Trust (CDT). In his new role, Crum will work to expand CDT’s equity investments that improve the lives of residents in the properties it finances while generating solid financial returns for its investors.
He was recently chief investment officer for New Jersey Community Capital (NJCC), where he oversaw NJCC’s real estate affiliate, Community Asset Preservation Corp., which operates real estate development, asset management, construction management, property management, and real estate brokerage services.
Now in its 23rd year, CDT provides long-term debt and equity capital for the creation and preservation of affordable housing and community facilities, including charter schools. A nationally recognized Community Development Financial Institution, CDT has invested more than $2.5 billion across the United States.
Merritt Community Capital Names CFO/COO
Paul Carney has been appointed chief financial officer and chief operating officer at Merritt Community Capital. Transitioning from Merritt’s board, Carney brings more than 20 years of experience in affordable housing and community development in both the nonprofit and corporate sectors.
He previously served as the CFO for Tenderloin Neighborhood Development Corp. in San Francisco, where he was responsible for risk management, finance, and asset management. He has also worked for Devine & Gong, Union Bank, JPMorgan Chase, CBRE Capital Markets, and HUD.
Merritt is a nonprofit LIHTC syndicator and funder of affordable housing in California.
Coats Rose Expands Affordable Housing and Public Finance Practices
Coats Rose, a transactional and litigation law firm focused on development, has announced the addition of five attorneys, bolstering the firm’s public finance and affordable housing practices.
Natalee Ball is an associate in the Austin, Texas, office. She focuses on affordable housing and community development. Prior to joining the firm, she worked as a summer associate with the New York City Housing Development Corp. and as a legal intern with Settlement Housing Fund, both in New York City.
Chelsea Fitzgerald is an associate in the New Orleans office. She represents developers, lenders, and nonprofit organizations in a wide range of corporate and commercial real estate transactions, including tax credit financings for the development of affordable housing, restoration of historic buildings, and business development in low-income communities.
Krystal Joseph is an associate in the Houston office. Her practice focuses on the creation and administration of special-purpose districts located throughout Texas, relating to the development and financing of property. While attending law school, she served as student managing editor of the Construction Law Journal, a publication of the Construction Law Section of the State Bar of Texas. In addition, she served as president of the Real Estate & Construction Law Society and treasurer for the Student Bar Association.
Carson Luddecke is an associate whose practice focuses on public finance and real estate law, including the creation and administration of special-purpose districts throughout Texas, particularly in the Dallas/Fort Worth area. His practice involves representing clients before various governmental entities, including the Texas Commission on Environmental Quality, cities, counties, and various regional service providers.
Taylor Elliott is an associate with a practice centered on public finance and real estate law, including the creation and administration of special-purpose districts in the Dallas/Fort Worth area and throughout Texas. Prior to joining Coats Rose, Elliott served as a judicial intern for Judge Martin Hoffman in the 68th Civil District Court and for Judge Sandra Jackson in the 302nd Family District Court, both in Dallas.