The Community Builders (TCB) has announced the retirement of Beverly Bates and the appointment of Patricia Belden as her replacement as executive vice president for real estate development, both effective March 30.
TCB is one of America’s largest and most-active nonprofit developers and owners of affordable and mixed-income housing, with over 30,000 rental homes developed since 1964.
Bates’ career with the Boston-based organization has spanned 35 years, overseeing development of affordable and mixed-income residential communities supported by a range of innovative public and private finance strategies in more than 30 metro areas.
“Bev is a visionary and pioneer in affordable housing,” said Bart Mitchell, TCB president and CEO. “Her amazing work at TCB has provided stable homes to thousands of families and seniors, and transformed entire neighborhoods into vibrant, inclusive communities.”
Bates joined TCB in 1985 as a project manager in Springfield, Mass. Her many accomplishments include moving to Pittsburgh to open TCB’s first location outside of New England, co-leading TCB’s 15 award-winning HOPE VI public housing transformation ventures, and eventually overseeing all TCB real estate development across 14 states. She has attracted talented regional real estate leaders and teams to TCB located in Boston, Columbus, Chicago, Washington, D.C., and New York.
Currently chair of the board of the National Affordable Housing Trust (NAHT), Bates has served on numerous community-based boards and industry leadership groups during her career and been a mentor to many. In 2019, Affordable Housing Finance magazine named her one of its “Wonder Women” for her industry leadership. After retiring from her full-time role, Bates will continue to serve as a consultant to TCB on a variety of strategic initiatives.
Following a nationwide search, Belden has been appointed executive vice president of real estate development. The industry veteran will head the real estate development business with a housing pipeline of 60 mixed-income residential and mixed-use ventures that will, in the next five years, provide sustainable, quality homes to an additional 5,500 family, senior, and disabled households. Five regional vice presidents and senior vice presidents of real estate development will report to Belden, along with the vice president of design and construction. Her team will themselves oversee a total of 40 real estate development professionals.
“I am thrilled to have Patricia’s talent and leadership at TCB, as we embark on a new chapter of building and sustain strong communities,” said Mitchell. “Patricia’s incredible real estate track record and passionate commitment to resident success will play a critical role in achieving our mission.”
Belden worked for over 25 years at Preservation of Affordable Housing, playing a lead role in the organization’s founding and the acquisition, preservation, and development of more than 11,000 affordable rental homes. Most recently, Belden was president of POAH Communities, leading property management and overseeing the launch of a portfolio-wide initiative to support resident health, education, financial stability, employment and community engagement.
Belden serves on the board of Housing Partnership Network, NAHT, and other national organizations.