RDL Architects Announces Development Consulting Division
Affordable housing industry veteran Meg Manley has been named to lead a new real estate development and financial consulting division at RDL Architects.
The new division will allow the Ohio-based firm to assist developers, housing authorities, government agencies, low-income housing tax credit (LIHTC) syndicators, and others with expertise across the life cycle of a project.
Led by Manley, an experienced affordable housing developer, the group’s services will include financial structuring, gap financing, capacity building for nonprofits, construction budget and general contractor management, and consulting on best practices in development.
Pennrose Names VP of Supportive Services
Shannon Mowery has been promoted to vice president of supportive services at Pennrose, a leading affordable housing developer and owner.
Mowery has been with Pennrose Management Co. since 2002 and in 2015 was promoted to director of supportive services.
Her latest promotion reflects her critical role in which she is responsible for new program design and implementation and working with Pennrose development team members. She is responsible for developing and managing community partnerships for all future developments, including those needed for LIHTC and Federal Home Loan Bank applications, as well as ensuring that every site within the 148-property portfolio meets the individual program obligations that were a part of each property’s original plan. Mowery oversees the supportive services team members who create innovative and distinctive programs for the firm’s residents.
She has more than 22 years of supportive services experience. Before joining Pennrose, she was the family living program coordinator for Threshold Rehabilitation Services.
Beeks Becomes President of POAH Communities
Rochelle Beeks took over as president of POAH Communities, the property management company that oversees nonprofit Preservation of Affordable Housing’s (POAH’s) 11,000-unit national portfolio, earlier this year.
She had served as COO for the company with 465 employees since 2010. In this role, she oversaw its significant growth from managing 50 properties and 6,000 affordable housing units to 115 properties with 11,000 affordable units.
Beeks began her career as an assistant manager for an affordable housing property on Chicago’s South Side and has been promoted through the ranks of property management since joining POAH Communities, formerly Preservation Housing Management. In her first years as regional property supervisor, she cultivated the company’s partnership with the Woodlawn Preservation and Investment Corp., which paved the way for POAH’s acquisition of the distressed Grove Parc Apartments and the construction of the redevelopment called Woodlawn Park in Chicago.
Prior to joining POAH Communities in 2006, Beeks worked as a regional property supervisor for AIMCO, managing a diverse portfolio with multiple funding sources, including both affordable and market-rate communities.
KeyBank Expands West Coast Presence
Brent Hanlin has been appointed vice president and senior mortgage banker at KeyBank Real Estate Capital. Based in Denver, he is responsible for continuing KeyBank’s West Coast expansion, with a focus on the California and Colorado markets.
Hanlin has more than 24 years of transactional experience, including 17 years in affordable housing.
Prior to joining KeyBank, he was the principal of Affordable Housing Advisory & Bond Structuring, where he was responsible for providing transaction financing structuring and advisory services to multifamily affordable housing developers and owners. Previously he served as a director for Citigroup, where he held a lead or senior role in closing over 125 affordable multifamily housing transactions throughout the country, representing over $2 billion of financings utilizing a wide variety of loan and bond structures.
Senate Confirms FHA Commissioner
Dana Wade has been confirmed by the Senate to serve as commissioner of the Federal Housing Administration (FHA).
She previously served as acting commissioner and assistant secretary for housing from July 2017 to June 2018, where she oversaw over 2,400 employees and implemented enhanced risk management and monitoring of FHA’s $1.3 trillion portfolio. Wade also served as a program associate director for general government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six executive branch agencies with a focus on financial services, including the Department of Housing and Urban Development.
CHFA Appoints Finance Director
Denver Maw has been named finance director at the Colorado Housing and Finance Authority (CHFA). He joined CHFA in 2013 and recently served as finance manager, overseeing the agency’s debt issuance and administration.
As finance director, Maw will lead the debt issuance and post-issuance compliance functions as well as CHFA’s secondary marketing activities and private-activity bond volume cap management. He brings more than 10 years of experience in the areas of debt management, cash-flow modeling, investor relations, and banking team engagement.
Prior to joining CHFA, Maw worked in the capital funding area for the city of Denver’s finance department.
Former Freddie Mac Senior Director Joins Merchants Capital
Dwayne George has been named executive vice president, national head of production, at mortgage banking company Merchants Capital.
George was recently senior director of targeted affordable housing production at Freddie Mac, where he managed the Optigo Lender Network, a platform that consists of 19 lenders that is responsible for originating $6 billion of annual affordable housing production. Prior to joining the production team, he served as a senior underwriter in Freddie Mac’s Targeted Affordable Housing Group, where he was responsible for obtaining and granting credit approvals for LIHTC preservation, Section 8, bond credit enhancements, moderate rehabilitations, and extended-use loans totaling $300 million to $400 million in annual production.
In his new role at Merchants Capital, George’s primary responsibility is to lead the company’s sales team, where he will be working closely with Merchants’ sales office leads in Chicago, Indianapolis, Minneapolis-St. Paul, and New York.
M&T Realty Capital Corporation Appoints Monty Childs Managing Director
M&T Realty Capital Corp. has announced the appointment of Monty Childs as a managing director in a new Chicago office. He joins the company’s new affordable housing finance platform and will be responsible for originating affordable housing and multifamily loans across the United States.
Childs has more than 30 years of experience in multifamily and affordable housing finance. He joins the firm from Freddie Mac Multifamily, where he was employed for the past seven years as an affordable housing production manager. Prior to this, Childs held production and underwriting roles at several government-sponsored enterprise lenders.
M&T Realty Capital also announced that is has become a Freddie Mac Multifamily Targeted Affordable Housing Optigo lender. Company leaders said the move is a key element in the firm’s affordable housing platform. It is authorized to lend nationwide through this program, with a minimum loan size of $3 million. The company is also a nationwide Fannie Mae affordable housing and FHA lender.
Hunt Capital Partners Launches Scholarship at USC
Hunt Capital Partners (HCP) announced it is making a financial commitment to the University of Southern California’s Stan and Marilyn Ross Minority Program in Real Estate.
By launching the Hunt Capital Partners Tuition Assistance Fund, the firm commits to providing student scholarships for five years as well as to introduce a diverse student population to the development of affordable housing, said the company.
The Hunt Capital Partners Tuition Assistance Fund will support two students per program session. Each scholarship award will cover up to 50% of each student’s tuition costs. Four students will receive awards annually. Scholarships will be awarded to students in the form of tuition credit beginning with the winter 2021 session and concluding with the 2025 summer session.
USC will endeavor to award the scholarships to students with an interest in affordable housing development. As part of the commitment, HCP staff will participate in the program’s curriculum lecturing students on the development and financing of affordable housing. Jeff Weiss, HCP president, will serve as a guest lecturer on affordable housing.
