It's very hip these days to talk about affordable housing. But the words of Alan Greenwald, the new president and CEO of A.F. Evans Co., carry a different weight than the average person. Perhaps that's because of his background. Greenwald holds a bachelor's, a J.D., and a master's of city and regional planning, all from the University of California at Berkeley. He's worked for Fannie Mae, serving as its director of multifamily structured finance. And he now will be taking the spot of Art Evans, honored has Executive of the Year in 2001 by Multifamily Executive for his work at A.F. Evans Co., a real estate development and property management company based in Oakland, Calif. But Greenwald, who's worked on different sides of the industry, brings both thoughtfulness and a multifaceted multifamily experience to his new role, as his answers below show.
Q: What do you hope to accomplish in your new role?
A: I would like to help A.F. Evans Co. to accomplish three goals: to develop successful projects that act as a catalyst for positive community change; to help meet the need for low- and moderate-cost housing in our targeted markets (San Francisco's Bay area, Pacific Northwest, and Nevada); and my personal goal is to lead the company through its current expansion without losing its heart.
Q: After the economy, what do you see as a significant challenge for the multifamily industry in the coming year?
A: Providing housing affordable to below-market renters and buyers, acquiring well-located and/or existing properties at a feasible price, and managing properties effectively with increasing expenses and limited opportunities for rent increases.
Q: What was your first job in the multifamily industry?
A: I was a vice president of finance for a national apartment builder/manager. I led a team that was responsible for financing and refinancing apartments first in the Southeast and then in California. It was a stimulating job with bright people, and it provided a valuable lesson in working with the sometimes conflicting goals of development and property management.
Q: What would you change if you could?
A: Enlighten communities about the social and economic value of providing decent, well-located housing for all socioeconomic groups, and make it economically feasible to build new market-rate rental projects.
In May, Art Evans stepped down from his president and CEO roles at A.F. Evans Co., the company he founded in the mid-1970s. During his tenure, the Oakland, Calif.-based company developed and built more than 80 properties, ranging for affordable urban apartments for seniors to market-rate condos. Evans, 67, will remain as chairman of the board.
The National Association of Home Builders announced that Leonard Wood, CEO of Atlanta-based Wood Partners, will become chairman
of NAHB's multifamily leadership board in December, following J. Ronald Terwilliger of Trammell Crow Residential.
Katharine Briggs has joined Charlotte, N.C.-based Medalist Capital as a vice president. She will focus on capital sourcing and investment sales for commercial real estate clients, with a primary focus on multifamily communities. Previously, she worked for Summit Properties, where she was vice president of finance. Former Summit Properties executives Michael Underwood and Greg Bonifield have established Woodfield Investments. The company, which has offices in Ashburn, Va., and Raleigh, N.C., handles land and property development services for multifamily and mixed-use residential development projects.
Kelly S. Morris has formed her own consulting firm: KSM Multifamily Consulting of Tucson, Ariz. The firm will focus on providing expertise to owners, investors, and lenders involved in the development and management of multifamily properties, with a special emphasis on tax credit projects. Previously, Morris was a vice president of asset management with AIG SunAmerica Affordable Housing Partners.
Cascade Affordable Housing has named Mark G. Varga asset manager. Varga will be responsible for the asset management of a portfolio of affordable multifamily properties throughout the country. Cascade is an affiliate of Pinnacle, an American Management Services company. The Bozzuto Group has promoted a number of employees. Thomas S. "Toby" Bozzuto Jr. has been named vice president of Bozzuto Development Co., which he joined in 2001 as a development associate. Ryan Ogden has been promoted to vice president of the Greenbelt, Md.-based company's newly formed subsidiary, Bozzuto Acquisitions. He will handle the acquisition and disposition of apartment communities and identify opportunities for repositioning. Bozzuto Management Co. has promoted Brian J. Green to vice president, where he will oversee the accounting efforts for a portfolio of more than 50 properties. Lastly, Kelly Arslanian has been promoted to assistant vice president of The Bozzuto Group, where she also serves as corporate controller.
Matthew Fuller has joined Madison Capital Group, a real estate investment and merchant banking firm focused on multifamily, as a vice president. He will handle structuring bridge and permanent financing for existing income-producing apartment assets and will be based in Madison's Miami headquarters. Previously, he was a vice president at BankAtlantic Commercial Mortgage Capital.
The Shelter Group, based in Baltimore, Md., has named Robert Lampher vice president of operations for Shelter Properties. Previously, he worked for Prometheus Real Estate Group, a West Coast management and development company, where he most recently was vice president of corporate operations and controller. Shelter also named Cheryl Rodriguez regional manager. She will oversee the operations of more than 1,500 apartment units in Maryland and Pennsylvania.
First Housing Development Corp. has named Randall J. Enders as CFO of the company, which provides financing for building and rehabilitating multifamily rental housing. Previously, Enders was the vice president and trust officer for the National Bank of Commerce in Berkeley, Ill.
Davi Miesner has joined ERC Management Group of Fort Smith, Ark., as a regional director. She will handle daily operations for ERC apartment properties in Oklahoma.
Arbor Commercial Mortgage has appointed Salvatore Villani to associate general counsel, with the responsibilities of managing Fannie Mae and structured finance transactions. Previously, he worked for the law firm Herrick, Feinstein.