Mercy Community Capital Names President
Stefanie Joy has been appointed president of Mercy Community Capital (MCC), a Community Development Financial Institution that serves affordable housing communities. She steps into the top post after recently serving as the lending vice president of the organization.
With a career spanning over a decade with MCC, Joy started as a loan officer in 2012 and progressed to her current role. As lending vice president, she oversaw all lending functions, including business development, underwriting, and closing. She has been the top loan producer in MCC’s history with over $143 million in closed loans and leveraging more than $1.5 billion in total development costs, positively impacting the lives of over 15,000 residents.
Under Joy’s leadership, the lending division has achieved unprecedented loan volume, originating over $60 million and leveraging more than $1 billion in total development in 2021 alone, according to MCC leaders.
She also serves on the board of directors of Senior Housing Options in Denver.
Related Affordable Appoints VP of Acquisitions
Nick Boehm has joined Related Affordable as vice president of affordable acquisitions.
He will play a crucial role in expanding the firm’s affordable housing footprint in the New England region by sourcing and managing all aspects of the acquisition and development process of affordable housing properties. Boehm will work with both the Related Affordable and Related Beal teams, and he will be based in the firm’s Boston office.
Boehm recently worked as director of acquisitions and partner at Redwood Housing Partners.
Aeon Welcomes Portfolio Director
Tamika Baskin has been named portfolio director at Aeon, a Minneapolis-based nonprofit developer, owner, and manager of nearly 6,000 affordable homes.
She brings extensive affordable housing leadership to the role. Most recently, Baskin led a property management team at the Minneapolis Public Housing Authority, an organization that she had been a part of for more than 23 years.
PNC Announces Community Development Executive for Southeast
Monica L. Burch has been named Southeast territory executive for community development banking at PNC Bank. The region encompasses Alabama, the Carolinas, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia.
Burch brings more than 20 years of banking experience to the role she will assume from Thurman “Tony” Smith, who previously led PNC’s community development and lending strategies for both the Southeast and Midwest markets. In her new role, she will be responsible for leading the regional implementation of PNC’s $88 billion Community Benefits Plan that began in January 2022 and continues for four years.
Prior to her new appointment, Burch held several senior leadership positions within PNC, including most recently as senior vice president and community development banking market manager for the Philadelphia, Delaware, and Southern New Jersey markets. She also served for 13 years as a commercial credit underwriter with PNC’s commercial banking team.
Nixon Peabody Adds Partner to Community Development Finance Team
Nicholas J. Anderson has joined the community development practice at the Nixon Peabody law firm.
Based in the firm’s Washington, D.C., office, he provides tax counsel to real estate developers, nonprofit organizations, lenders, and investors to efficiently structure and close business, finance, and real estate deals.
Anderson, a firm partner, works with clients on transactions involving New Markets, low-income housing, historic rehabilitation, renewable energy, and other tax credits as well as Opportunity Zones.
In addition, he assists nonprofit organizations in receiving their tax-exempt status and advises them on governance and compliance matters.
