Page to Retire from The Fortune Society
After 34 years of leading The Fortune Society, president and CEO JoAnne Page has announced she will retire at the end of the year.
During her tenure, she has grown the organization from a staff of 20 to more than 500 and an annual budget from $700,000 to more than $60 million. Serving and advocating for people with criminal justice involvement, the New York nonprofit’s programs have become models for similar programs throughout the country.
“I first worked for Fortune as a volunteer when I was 16 years old. My parents—Holocaust survivors—were longtime volunteers and fiercely committed to social justice. My life experience both at home and at work has taught me that people need hope. They need to see a bright future. And, no one should be defined by the worst thing they’ve ever done. That is what has informed my work at Fortune all these years,” Page said.
The Fortune Society’s real estate portfolio has significantly grown since the pioneering Fortune Academy, also known as The Castle, opened its doors more than 20 years ago. Today, Fortune operates housing in all five boroughs: The Castle; Castle Gardens; Freedom Houses I, II, III, and IV; The Mandaela Community; and scattered-site housing.
“On any night, more than 800 formerly homeless justice-impacted people have the safety and security of Fortune housing, where they can focus on important aspects of their lives without worrying about where they are going to sleep at night or how they will find their next meal,” according to the organization.
Page has laid the groundwork for three more supportive and affordable housing buildings to open in the next few years.
Freddie Mac Names Head of Targeted Affordable Housing Business
Peter Lillestolen has been named vice president, production and sales of Targeted Affordable Housing (TAH), at Freddie Mac. He will oversee the TAH retail business, low-income housing tax credit (LIHTC) equity, structured transactions for both conventional and affordable housing, as well as seniors housing.
In his 12 years with Freddie Mac, Lillestolen has built a breadth of experience across the multifamily division, starting as an analyst in capital markets and later in various leadership roles on the production team. He most recently led the LIHTC equity and seniors housing businesses while serving as a co-lead for TAH.
His leadership was instrumental in helping Freddie Mac exceed its affordable housing goals in 2022, both in the core retail business and low-income housing areas.
Salazar to Lead REACH Community Development
Margaret Salazar has been appointed CEO of REACH Community Development, a leading nonprofit developer and operator of affordable housing in the Portland, Oregon, region. She is scheduled to begin her new role in late October.
Salazar has recently served as the Northwest regional administrator for the Department of Housing and Urban Development (HUD), leading more than 200 staff members to deploy billions of federal dollars to public housing authorities, state and local governments, tribes, and homeless service providers across the region.
Before joining HUD, she was director of Oregon Housing and Community Services.At REACH Community Development, Salazar will replace Dan Valliere, who announced his transition in early 2023, after 10 years of leadership.
BRIDGE Housing Announces VP of Strategic Projects
Tina Hahn has been named vice president of strategic projects at BRIDGE Housing, a leading nonprofit developer, owner, and manager of affordable housing on the West Coast.
In this new role, Hahn will oversee strategic project initiatives, from development through successful execution, in accordance with BRIDGE’s mission and core values. She will work with president and CEO Ken Lombard and the senior leadership team to organize and prioritize critical issues to facilitate efficient decision-making.
Most recently, she was the director of investor relations for Include Ventures, which focuses on investing in diverse fund managers and founders in early-stage ventures. Earlier, Hahn was a principal with Potomac Asset Management, where her primary focus was marketing and fundraising on behalf of the firm’s clients. She also served as senior vice president at Pharos Capital Group and vice president of investor services at CityView. Previously, Hahn co-founded KeyStrat Capital Advisors, where she advised private equity general partnerships on their capital formation strategies.
Rocky Mountain Communities Hires VP of Property Management
Amritpal Byrd has been appointed vice president of property management at Rocky Mountain Communities (RMC), a Denver-based affordable housing nonprofit.
Byrd is responsible for the overall strategic direction, operation, and profitability of RMC property management operations. Her primary duties include setting the property management business line and individual property performance goals; overseeing property compliance; budgeting; marketing; building an agile department team; and fostering industry partnerships.
Most recently, Byrd was a diversity, equity, and inclusion (DEI) consultant and facilitator throughout Colorado and the regulatory compliance manager for Colorado Coalition for the Homeless. Her experience in affordable housing spans the field as she brings skill and knowledge from working with senior living, traditional LIHTC, and permanent supportive housing.
RMC owns over 1,000 affordable housing units that provide homes for underserved populations statewide and also manages 300 additional units through its Pillar Property Services entity.