Nandini Natarajan is CEO and executive director of the Connecticut Housing Finance Authority (CHFA).
The first woman and person of color CEO in the organization’s history, Natarajan has led the development and implementation of key programs, including Build for CT, an initiative aimed at increasing the availability of affordable housing for middle-income households, and Time To Own, a program that helps families achieve the dream of homeownership.
In addition, she serves on the board of the National Council of State Housing Agencies and is a member of the Federal Home Loan Bank of Boston Advisory Council.
How did you get started in affordable housing?
My journey into affordable housing wasn’t conventional. With a degree in computer science and mathematics, I originally thought my career would take me down the path of technology. I started working at an advisory firm that specialized in helping housing finance agencies. It was there that I began to realize the crucial role these organizations play in creating housing opportunities, and I found myself drawn to the intersection of finance, policy, and social impact.
What started as an intellectual curiosity soon turned into a deeper desire to contribute to something more meaningful. I wanted to apply my skills in a way that would make a real difference. That’s when a life-changing opportunity came my way: I was offered the chief financial officer position at the Illinois Housing Development Authority. That role marked the beginning of my public service career in affordable housing finance and gave me the chance to truly immerse myself in the complexities of housing policy and financing.
It’s been a rewarding journey, and while it wasn’t the path I originally envisioned, I’m grateful for the unique perspective my background in technology and mathematics brings to my work in affordable housing.
What was a pivotal moment in your career?
Every job or role I’ve held throughout my career has played a significant part in shaping my journey and has been pivotal to reaching the next milestone. It’s tough to pinpoint just one moment, as each experience has built upon the last. However, I would say that my current role as CEO of the Connecticut Housing Finance Authority stands out as a major turning point.
It was in this moment that I truly recognized the opportunity in front of me. I was being entrusted with the leadership of an organization that is widely respected in the industry as a finance powerhouse. The realization hit me that my leadership could make a real difference—not just maintaining the status quo but potentially elevating the organization even further. It was both humbling and motivating, knowing that I had the chance to guide such a crucial institution in our efforts to create more housing opportunities. That moment made me realize the profound responsibility and privilege of the work I do every day.
What skills have helped you most in your career?
The skills that have helped me most in my career are constantly evolving, especially as I continue to learn and grow in my ability to lead change. It's a dynamic process that keeps me engaged and motivated. One of the greatest joys of my position has been working with people and being part of teams. Collaboration has been key in driving forward the work we do in affordable housing.
I’ve also learned the importance of focusing on what’s right in front of me, rather than getting overwhelmed by everything that still needs to be done. This ability to compartmentalize has been crucial in managing the complexities of the work and ensuring I stay present in each moment. Finally, I’ve always had a strong passion for problem solving. The ability to look at challenges, identify creative solutions, and find ways to move forward is something I truly enjoy and that has served me well in this field. These skills, combined with the desire to lead with purpose, continue to shape my path in affordable housing.
What are you and CHFA working on this year?
This year, CHFA is focused on continuing to strengthen the key partnerships that enable us to do more in addressing the affordable housing needs of Connecticut. We recognize that no single organization, lender, funder, or public or private entity can solve the housing challenge on its own. Everyone has a piece of the puzzle, and our goal is to find the best ways to fit those pieces together to solve the problem more quickly and effectively.
The supply of housing—at all levels and for all types of households—is a critical issue, not just for Connecticut but for many states. We are committed to finding innovative ways to finance the construction of more affordable units, but we know that resource constraints, along with other challenges, can often slow progress. At CHFA, we are focused on maximizing the impact of our resources and building additional flexibility wherever possible to overcome those barriers.
We are also keenly aware that time is money in the housing development world. To that end, we are dedicated to improving our internal processes and making them more efficient. As we work to accelerate housing production, we are also looking inward, being honest about the changes we need to make within our own organization to be more effective and responsive. It's a year of both external collaboration and internal reflection to ensure that we are doing everything we can to move the needle on affordable housing in Connecticut.
Proudest recent moment:
One of my proudest recent moments came when someone at an event approached me and told me something wonderful about the CHFA team. It was such a humbling moment, especially because it was an unsolicited compliment. In the world of affordable housing, where complexity and challenges are constant, it's easy to overlook just how difficult it can be to deliver excellence.
To hear that recognition of the hard work and dedication of our team meant a lot. I’m incredibly proud to work alongside such a committed group of individuals who genuinely love what they do. Their passion and dedication drive everything we achieve at CHFA, and moments like that remind me how fortunate I am to be part of such a talented team. It’s not always easy, but we are united by a shared purpose, and that makes every challenge worth it.
Who inspires you?
I’m inspired by anyone who stands up for what they believe is right and isn’t afraid to fight for it. When I think about the women who have come before me and paved the way for someone like me to take the helm at CHFA, I’m deeply moved by their courage and grit. They faced many obstacles along the way but persevered, making it possible for others like me to step into leadership roles today.
I also draw inspiration from the support I receive from my team. They empower me to do this work every day, and their unwavering belief in our mission is a constant source of motivation. Their commitment and support are truly inspiring, and I’m grateful to have them by my side as we work together to create a positive impact in the world of affordable housing.
Advice for others working in affordable housing:
My advice for others working in affordable housing is simple: Don’t doubt your resilience, and don’t be afraid to start over. This field can be challenging, and there will be moments when things don’t go as planned, but it’s important to remember that setbacks are part of the journey. Learn from others who have walked this path and be curious about yourself—understand what drives you and where you can grow.
Also, lean into your fears. Often, the things that scare us are the very things that can push us to take risks and make bold moves we might not have considered otherwise. In affordable housing, we need to be innovative and willing to step out of our comfort zones if we want to create lasting change. So, embrace the challenges, trust in your ability to bounce back, and never stop learning and evolving.
