HDC MidAtlantic Appoints President and CEO
Dana Hanchin has been named president and CEO of HDC MidAtlantic. She will succeed Michael R. Carper, who is stepping down in June after a 15-year tenure with the organization.
Hanchin comes to HDC MidAtlantic from the Local Initiatives Support Corp. (LISC) of Philadelphia, where she served as deputy director for the past five years. In that role, she was responsible for overseeing strategic priorities, business development, and community development lending.
Hanchin brings more than 20 years of experience building and leading affordable housing initiatives and has experience in each of HDC MidAtlantic’s lines of business. Prior to LISC, she served as the director of neighborhood stabilization at the Philadelphia Redevelopment Authority. She also has experience with affordable housing development and property management from her role as a leader at the Women’s Community Revitalization Project.
Founded in 1971, HDC MidAtlantic is a nonprofit providing affordable rental homes for working families, seniors, and individuals with disabilities throughout Delaware, Maryland, and Pennsylvania. The organization owns, develops, and/or manages more than 3,700 affordable apartments.
Mission Housing Announces Promotions
Márcia Contreras has been promoted to deputy executive director and Michael Chao has been promoted to director of housing development at Mission Housing Development Corp. in San Francisco.
Since 2015, Contreras has served in a dual role as director of operations and resident services, where she was the driving force behind the growth of the Mission Housing team from eight to 25 people and the expansion of supportive services partnerships to include numerous human services agencies.
Under her direction, Mission Housing fundraising efforts have brought in several hundred thousand dollars via donations and grants. Contreras has also played a pivotal role supporting the organization’s efforts to win development rights for building more 100% affordable apartments.
In her new post, she will oversee the operational and administrative functions of Mission Housing, while providing the leadership needed to advance the organization’s housing and community development goals.
Chao had been senior project developer at Mission Housing since 2014. He has led the efforts of the housing development team, which has added more than 1,000 units of affordable housing to the Mission Housing pipeline.
Under his leadership, Mission Housing has rehabilitated several hundred units of existing affordable housing and will soon close on the acquisition of The Grand Oriente, a single-room occupancy, residential hotel in the South of Market neighborhood of South Park. The 18-month rehab of The Grand Oriente is expected to begin in 2019.
Earlier in his career, Chao, a Bay Area native, had been responsible for overseeing housing development at several local nonprofits, including Community Housing Partnership from 2008 to 2014.
Wesolowski Becomes COO of Enterprise Community Investment
Joe Wesolowski has been named COO of Enterprise Community Investment.
In his nearly 14 years at Enterprise, he has been an effective leader across multiple business lines and currently oversees Bellwether Enterprise, Enterprise Homes, Community Preservation and Development Corp. (CPDC), and the firm’s emerging property management business, said Charles Werhane, president and CEO of the company.
Most recently, Wesolowski’s leadership in the discussion and the due diligence process resulted in Enterprise and CPDC combining this year.
He will assume additional operational responsibilities within Enterprise’s organizational structure.
KeyBank Boosts Affordable Housing Team
KeyBank Real Estate Capital has expanded its affordable housing platform with the appointments of Tabare Borbon, John Sabatier, Stephen Sparks, and Hector Zuñiga Jr.
Borbon and Sabatier join Key’s Commercial Mortgage Group. Sparks and Zuñiga join the Key Community Development Lending and Investment team.
A senior mortgage banker, Borbon will be based in New York City. With 30 years of multifamily affordable housing experience, he will be responsible for originating loans through various loan products with Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), and tax-exempt private placement bonds in New York City and surrounding areas. Prior to joining Key, Borbon served as a senior customer account manager in the affordable housing group of Fannie Mae’s multifamily business for nine years.
Sabatier joins Key as a senior mortgage banker with 20 years of industry experience. He will be based in Tampa Bay, Fla., and focus on affordable housing in the Southeast. Sabatier spent the past two years as an executive vice president at Jones Lang LaSalle Multifamily. Prior to that, he was a municipal housing bond investment banker at Royal Bank of Canada, where he settled over $1.3 billion in multifamily municipal housing bonds.
Sparks joins Key as a senior banker with over 12 years of commercial real estate and affordable housing experience. Based in Chicago, he will be responsible for expanding the bank’s affordable housing platform in the upper Midwest region. Prior to joining Key, Sparks served as a senior vice president for Bank of America Merrill Lynch, where he spent the past eight years representing the bank’s upper-Midwest Community Development Banking and low-income housing tax credit investment platforms.
Zuñiga joins the bank as a senior regional manager with over 20 years of real estate finance experience. He will be based in Austin, Texas, and will focus on affordable housing across the state. Zuñiga spent the past seven years as vice president, asset manager for Wentwood Capital Advisors, where he represented a number of real estate housing tax credit investment funds with a market valuation of $300 million.
Berkeley Point Adds to Team
Will Andersen has become director, production, in Berkeley Point Capital’s New York office. He will focus on expanding the firm’s affordable team and working on its government-sponsored enterprise and FHA programs.
Previously, Andersen was the director of production and credit strategies at Hunt Mortgage Group, where he served as the product specialist for Fannie Mae and Freddie Mac’s commercial real estate lending products across the affordable, small balance loan, and conventional platforms. Prior to that, he was with the Citigroup Market and Securities Division, where he worked with public finance and Citi Community Capital to develop retail distribution capabilities for private-placement bonds secured by affordable housing.
Peggy Lawrence has been named chief underwriter of FHA in the firm’s Bethesda, Md., headquarters. She brings 24 years of commercial multifamily underwriting experience and management of over $1 billion in loan applications to the Berkeley Point FHA team.
Previously, Lawrence was the deputy chief underwriter of FHA at Wells Fargo Multifamily Capital, where she underwrote and closed an estimated $700 million in loans. She was responsible for FHA-insured multifamily underwriting and programmatic training for junior staff. Prior to that, Lawrence held roles at Housing & Healthcare Finance, M&T Realty Capital Corp., and the Department of Housing and Urban Development.