McCormack Baron Salazar Announces Leadership Moves
Gary Buechler has been named chief operating officer and Michael Duffy has been promoted to chief investment officer at McCormack Baron Salazar (MBS).
As COO, Buechler will oversee all day-to-day operations of the company, including project management, project finance, design and construction, and business development strategy. He will expand on the company’s use of metrics and data to drive decisions while leading employees to success under its corporate mission, vision, and values.
Buechler joins MBS from the Michaels Development Co., another leading affordable housing developer. As president, he helped increase revenues by 35% and reduce the time and costs associated with closing new transactions. Prior to Michaels, he held a number of leadership roles over a nearly 15-year tenure at Lendlease Americas.
The addition of Buechler to the team allows current COO Duffy to assume the role of CIO of MBA Properties, MBS’ holding company. He will will take over responsibility for cross-company investor and financing relationships, project-financing underwriting, and serve as a key member of the management team of MBA Properties. In his 13-year tenure at MBS, Duffy has helped close more than $1.8 billion in transactions, resulting in thousands of homes in mixed-income communities across the country.
Enterprise Announces Promotions
Enterprise Community Partners has announced two recent promotions.
Marion McFadden was promoted to senior vice president, public policy, and senior advisor, resilience, after serving as a vice president, public policy.
In her two years at Enterprise, McFadden has led the policy team to expand housing advocacy efforts at the federal, state, and local levels and has positioned Enterprise as a thought leader and skilled practitioner on disaster recovery and resiliency for low-income communities. This expanded role will build on these achievements and allow Enterprise to continue to advance this work meaningfully.
Melinda Pollack was promoted to senior vice president, national initiatives, after serving as vice president, national initiatives and Denver market leader.
Pollack has held many roles during her time at Enterprise, and her leadership has led to the creation of groundbreaking new national programs such as the Sustainable, Prosperous and Resilience Communities Challenge (SPARCC) and, at the local level, equally innovative work on transit-oriented development and state and local policy. She has also strengthened the organization’s vision for how to impact housing stability and the connection to opportunity through work in rural communities and its design and green platform.
Cinnaire Announces EVP
Susan Frank has been named executive vice president, business development, at Cinnaire, a nonprofit Community Development Financial Institution (CDFI) that has provided more than $3.9 billion in community development funds in the past 25 years.
In this new position, she will be responsible for directing the company’s growth strategy throughout Cinnaire’s nine-state footprint, including community development initiatives, equity, and debt. Frank has been involved in the affordable housing and community development industry for more than 25 years.
She joined Cinnaire in 2014 as senior vice president, managing business development in the Mid-Atlantic region. Prior to that, she was with Fannie Mae, most recently as director of customer account management in the organization’s multifamily mortgage business. Previous positions with Fannie Mae included managing the company’s CDFI product and the Delaware Community Investment Center. Frank also served as the executive director of the Delaware State Housing Authority from 1993 to 2000.
Since 1993, Cinnaire has invested $3.9 billion to revitalize communities, resulting in more than $7.3 billion in community impact. It has supported 717 housing developments, provided 47,000 affordable apartment homes, and created or retained more than 65,000 jobs.
Red Mortgage Capital Opens S.F. Office
Red Mortgage Capital, the mortgage banking arm of RED Capital Group, has expanded its national presence, opening an office in San Francisco and hiring Patrick McAllister as director, multifamily originations.
McAllister will help expand the RED footprint in the Bay Area as well as the Pacific Northwest.
He joins the company with a long track record in multifamily originations, most recently serving as executive vice president for Jones Lange LaSalle. McAllister has served as a director at several San Francisco–based commercial real estate lending firms, including Prudential Mortgage Capital and Wells Fargo Multifamily Capital.
RED has provided over $78 billion of integrated debt and equity capital since 1990 to the seniors housing and health-care, multifamily, affordable, and student housing industries through three operating companies.
Palo Alto Housing Names New Leader
Randy Tsuda has been named president and CEO of Palo Alto Housing in Palo Alto, Calif. He will begin at PAH on Nov. 14, succeeding Candice Gonzalez, who served over 10 years in the position.
Tsuda has led the Community Development Department in the nearby city of Mountain View since 2008. His career includes experience in the public, private, and nonprofit sectors, and he has more than 20 years of experience in city planning, including four years as the assistant community development director in Los Gatos, Calif.
In addition to his community development background, Tsuda also was director of corporate real estate for a technology company for five years and a lecturer for seven years in the urban and regional planning program at San Jose State University.
This past May, Tsuda received the "Bringing It Home" award from [email protected], a nonprofit policy and advocacy organization focused on increasing affordable housing, on behalf of the work he and the Mountain View Community Development Department staff did to create the North Bayshore Precise Plan, which will nearly double the number of affordable homes in Mountain View by adding 9,850 new homes, including 2,000 that will be affordable, in the North Bayshore area
Palo Alto Housing has over 700 owned and managed units. The nonprofit has a significant pipeline of new development projects with approximately 600 residential units in various stages of planning and development located in the San Francisco Bay Area.