Nonprofit CEO Named to Oversee Multifamily Housing at HUD

For a key role overseeing multifamily housing at the Department of Housing and Urban Development (HUD), President Obama tapped the head CEO of a nonprofit group that provides affordable housing in the Bay Area.

BRIDGE Housing Corp. Chief Executive Officer Carol Galante has been named to the Obama administration as deputy assistant secretary for multifamily housing.

Galante headed the San Francisco-based affordable home building company since 1996.
She has worked at BRIDGE for more than 20 years, joining the nonprofit in 1987 as vice president.

BRIDGE has provided about 13,000 affordable units in the pricey Bay Area through the development of about 100 properties in California.

Now, Galante will oversee the development of affordable apartment complexes and preservation of thousands of HUD-insured properties across the country, both subsidized and unsubsidized.

“Having previously served in the position Carol will step into, I am extremely confident that her proven track record in multifamily housing is exactly what HUD needs to move that division forward,” said HUD Secretary Shaun Donovan.

“She is one of the nation’s most innovative affordable housing leaders and will be a tremendous asset during our nation’s housing crisis, especially as HUD moves forward an aggressive policy agenda.”

Galante also will focus on initiatives promoting improved energy efficiency in existing and new projects as set forth under Obama’s economic stimulus package.

She indicated plans to encourage more environmentally-sound development patterns and explore new ways of addressing aging public housing properties.

“There are two things that I see this administration is excited about doing – one is definitely greening the existing apartment complexes,” said Galante.

The second involves taking “older properties and finding creative ways of rejuvenating them, rehabbing them or reconstructing them.”

In 2004, BRIDGE was the lead developer of a 341-apartment complex for low-income families and seniors which replaced a dilapidated 50-year-old public housing project by arranging for a host of private and public funding sources.

Prior to accepting the role as HUD Secretary, Donovan had been touted for his approach to affordable housing in the costly New York City area through innovative means of tapping private and public funding.

Phil Ganz (354 Posts)

Philip D. Ganz is a Boston Mortgage Broker and Boston Home Loan specialist. For information, expertise, consulting, or advice about home loans, refinancing mortgages, or commercial property loans, contact Phil with no obligation: 617-529-9317

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