who we are
We are a mission driven developer with the speed of private capital.
Mission
Our mission is to acquire, preserve, and redevelop multifamily housing and provide more rental opportunities to low and moderate income households. CMHDC operates as a 501(c) 3 nonprofit development corporation with the capacity to move quickly by using private capital to purchase existing properties and preserve them as long term affordable rental housing proximate to what matters most.
Board
Our board of directors brings a depth of expertise in finance, underwriting, real estate development, and government relations. As leaders in the housing and community development field for many years they are invested in our mission and our strategy for growth.
Bruce Martin
President
Retired, JP Morgan Chase
Jack Markowski
Vice President
Former Commissioner of Housing, City of Chicago, Retired CEO, Community Investment Corporation
Pamela Daniels Halisi
Treasurer
Retired, Managing Director, BMO Bank
Marla Kaiden
Director
Retired, City of Chicago
Guacolda Reyes
Director
Chief Real Estate Officer, The Resurrection Project
Theodore Weldon
Director
President, Weldon Development Group
Stacie Young
Director
President and CEO, Community Investment Corporation
Staff
We are a small team with a big commitment to meeting the demand for affordable rental housing. We take pride in the expertise and integrity of our professional staff, and bring decades of experience in affordable housing preservation, community impact, and policy. Motivated by the people we serve, our staff leads the work to acquire, preserve, and redevelop rental properties that provide more opportunities for working families.
Rafael Leon
Chief Executive Officer
Russell Rydin
Chief Operating Officer
Michael Clark
Construction Director
Sarah Dassinger
Philanthropic and Investor Relations Manager
Elizabeth Hubbard
Executive Office Manager
Kristie Hubbard
Assistant Asset Manager
Edward Lee
Director of Asset Management
Joseph Pav
Project Director
History
For more than thirty years, our mission has been to acquire, preserve, and redevelop multifamily housing to add affordable rental units back into communities losing them. Over time we have brought our capacity and capital to new communities and municipalities across the metropolitan area.
Our progress has been steady and strong. We began as an entity which took the lead on $200 million in bond capital to support the redevelopment of multifamily properties under the Chicago Housing Authority’s Section 8 project-based voucher program. In 1997 we established ourselves as an independent 501(c)3 non-profit entity and since then we have invested nearly $85 million in affordable housing preservation.
Over the years we have preserved more than 1,000 affordable units. Our flexibility allows us to buy and sell properties at different times to adjust to market forces. Our impact is reflected in our portfolio today.
