Latimer-Nelligan Promoted to LIIF President
Kimberly Latimer-Nelligan has been promoted to president of the Low Income Investment Fund (LIIF). Daniel A. Nissenbaum will retain the CEO role.
As president, Latimer-Nelligan will be responsible for implementing LIIF’s strategy and growing its business, including continuing to oversee LIIF’s lending activities and programmatic growth and developing new lines of business.
She joined LIIF in 2008 and previously served as its COO and executive vice president of community investment programs. Earlier in her career, she worked with Citibank for more than 20 years, including serving as the managing director of national lending and investments, overseeing a $3 billion business within Citibank Community Development. During her tenure at Citibank, Citi’s national lending, structured finance, and equity investments for community development were consolidated under her leadership.
At LIIF, Latimer-Nelligan has overseen lending activities that reached a high watermark of $300 million deployed in underserved communities last year. She has also led the expansion of lending programs in the Mid-Atlantic and Southeastern United States, and has worked to expand LIIF’s national early care and education work, which has created 271,000 spaces in child-care facilities.
She serves as the board chair of the Community Reinvestment Fund and on the boards of Raza Development Fund and the National Affordable Housing Trust.
As CEO, Nissenbaum will continue to lead LIIF’s strategy, sustainability, and people.
LIIF invests capital to support healthy families and communities. Since 1984, LIIF has served more than 2 million people by providing $2.5 billion in financing and technical assistance. Over its history, LIIF has supported efforts to create and preserve 78,000 units of affordable housing; 271,000 child-care spaces; 98,000 spaces in schools; and 36 million square feet of community facilities and commercial space.
WNC Promotes Wenk to EVP
Melanie Wenk has been promoted to executive vice president at WNC, a leading provider of investment, asset management, and development services in the affordable housing industry.
Wenk, who joined the firm in 2003, was originally promoted to vice president and CFO in 2009 and later to senior vice president in 2014. In her new role, she will oversee WNC’s underwriting team, in addition to the company’s accounting, dispositions, and human resources groups. Wenk also is a member of WNC’s executive committee.
Headquartered in Irvine, Calif., WNC is a national investor in real estate and community development initiatives, as well as a low-income housing tax credit (LIHTC) investor.
RED Mortgage Capital Hires Chief Underwriter
D. Edward Greene has been named chief underwriter for affordable housing at RED Mortgage Capital.
Greene joins RED from Freddie Mac, where he recently served as senior managing director of underwriting and credit. In that role, he focused on Freddie Mac’s Targeted Affordable Housing and specialty products. Greene spent more than 10 years at Freddie Mac, with roles that included underwriting and credit, operational risk management, enterprise risk management, and credit risk management.
Greene will be located in the company’s Reston, Va., office and be responsible for overseeing all affordable credit and loan underwriting in addition to identifying new business opportunities to further grow RED’s affordable lending activities nationwide.
Choice Property Resources Announces Promotion
Jen Cichowski has been promoted to vice president at Choice Property Resources, a leading advisor of ancillary service contracts to multifamily owners.
She will assume leadership and operational responsibilities with forecasting, analysis, and management of the financial operations for the company. She also oversees Choice’s IT department.
Cichowski joined Choice in December 2016 as director of accounting, bringing more than 20 years of experience to her position. Previously, she was the CFO of a fair-trade coffee company, the CFO of a nonprofit counseling center, and the office manager for a publishing company.
Choice Property Resources represents and advises multifamily property owners, developers, and managers in telecommunication vendor contract negotiation to ensure resident satisfaction.
McCormack Baron Salazar Names Senior-Level Executives
McCormack Baron Salazar has announced the appointment of five senior-level executives.
Adhi Nagraj has been named senior vice president and director of development for the San Francisco Bay Area and will lead the company’s development operations in the region. He will be responsible for managing a diverse team of finance, design, construction, and legal professionals as well as collaborating with external partners and community stakeholders. He will also serve as a market leader and drive further opportunities for transformative mixed-income housing in the market.
Senior vice president Jerry Stone has been named director of design and construction. Stone will direct and coordinate activities of the architectural staff and construction administrators to ensure that design concepts meet corporate and community-specific goals for quality, cost, and completion time. Stone will directly oversee cost estimation and construction administration and play a leading role in value engineering to ensure that McCormack Baron Salazar is building the best product for the cost.
Pam Askew has been named senior vice president of development. Askew has more than 28 years of experience in affordable housing and finance. She will oversee company projects in several markets and will manage all aspects of the development process from pre-development through post-construction and lease-up.
Tom Currell rejoins the company as senior vice president of development. Currell will work with the company’s Bay Area team on projects in development and pre-development and will identify new opportunities in the Mountain and Southwest regions. Using his extensive expertise in large-scale urban revitalization, he will provide direct support to project teams to help resolve issues and advance project completion.
Adi Shamir-Baron has joined the company as vice president of design. An architect, urban planner, and architectural historian with extensive cross-disciplinary experience, Shamir-Baron will focus on the early-stage design process and cross-company design procedures.
McCormack Baron Salazar is a leading developer, manager, and asset manager of economically integrated urban neighborhoods. Started in St. Louis in 1973, the firm has been an innovator of community development and urban revitalization in 47 cities, having built more than 22,000 homes for families, children, seniors, and veterans with total developments costs of $4.2 billion.
TCB Announces Appointments
The Community Builders (TCB) has named Jesse Elton as director of finance and Jane Loechler, director of asset management, in the Boston office.
Elton leads TCB’s five-person finance team within TCB’s development department. Previously, she worked in development at nonprofit housing developer BRIDGE Housing in San Francisco, and later worked at the Local Initiatives Support Corp. as a national housing lender and technical assistance provider. She joined TCB as a finance project manager in 2014.
Loechler leads the asset management team in strategic planning and analysis of TCB’s portfolio in collaboration with development and property management to bring insight and a long-term operating perspective to key points in the life cycle of projects.
Loechler has worked in affordable housing for 25 years. Prior to moving to the East Coast to join TCB, she worked on housing preservation policy for the state of Minnesota, has been a trainer and teacher, has been a compliance monitoring agent for tax credit allocating agencies, owned and operated a business in tax credit compliance consulting, and held positions in both asset and property management.
TCB is one of America's leading nonprofit housing organizations. Anchored by offices in Boston, Chicago, Cincinnati, New York, and Washington, D.C., it owns or manages 11,000 apartment homes in more than 14 states.
The Millennia Cos. Names CFO
Jim Brady has joined The Millennia Cos. as CFO. He succeeds John W. McGinty, who is remaining with the organization.
Brady brings to the position more than 30 years of expertise in financial management, strategy, and leadership. Most recently, he served as vice president of financial planning and analysis for Forest City Realty Trust and as CFO of the residential and commercial group for Forest City Enterprises.
At Millennia, Brady will be responsible for the direction and oversight of the finance and accounting departments, which support Millennia Housing Management, Millennia Housing Development, American Preservation Builders, Millennia Commercial Group., and Millennia Housing Capital.