MHP Appoints Three New Members to Board of Directors

July 20, 2010 - PRLog -- (Silver Spring, MD) –Montgomery Housing Partnership (MHP), a private nonprofit housing developer, today announced the appointments of three corporate finance and multifamily real estate executives to its board of directors. Joining the MHP Board for the 2010-2013 term beginning July 1, 2010, are: Caroline E. Blakely, Vice President at Fannie Mae; Victoria S. Davis, President of Urban Atlantic Development; and Linda A. Kelly, CPA.  Additionally, Charles “Chip” Bay, Senior Managing Director at Trammell Crow Residential, assumes the leadership role of Treasurer of the MHP Board.

Formed in 1989 to meet Montgomery County’s growing need for affordable housing, MHP develops, acquires, rehabilitates and builds quality apartments and homes for low- and moderate-income families. It has developed 1,169 units of affordable housing to date, located primarily in Silver Spring, Takoma Park, Rockville, and Wheaton. MHP’s latest preservation project, Gilbert Highlands Apartments, is scheduled to open in September.

Charles “Chip” Bay, Senior Managing Director, Trammell Crow Residential

Bay joined the MHP Board on June 27, 2006. He serves as the Senior Managing Director for TCR’s Mid-Atlantic Division, which includes Maryland, Delaware, North Carolina, Virginia, and Washington, DC.  He is responsible for overseeing the development and construction of both multifamily rental and for-sale housing communities. TCR is a national full-service multifamily company headquartered in Dallas, Texas. Since joining TCR in February 1998, Bay has been involved in the entitlement and development of more than 5,000 multifamily units. He earned a bachelor’s degree from Purdue University, and an MBA from the University of Maryland.

Caroline E. Blakely, Vice President-Multifamily Business, Fannie Mae

Blakely leads the asset management, structured finance, and strategic teams for Fannie Mae’s multifamily loan portfolio. Among other things, her teams are responsible for maintaining low losses to the company’s $183 billion multifamily debt portfolio, and mitigating the financial and operational risk of 50 multifamily seller/servicers, including assessing the counterparty’s capital and capacity to follow established servicing protocols. Prior to joining Fannie Mae in 1999, Blakely held several senior level positions at National Cooperative Bank. She earned her Juris Doctorate from Georgetown University Law Center, and a B.A. degree in English from the University of Virginia.

Victoria S. Davis, President, Urban Atlantic Development

Davis is responsible for the acquisition, planning, design, implementation and asset management of all Urban Atlantic real estate development projects.  Before co-founding Urban Atlantic, she served as Deputy Director of the Maryland Housing Fund. Her professional experience also includes portfolio management for MNC Financial-South Charles Realty, and multifamily development at Trammell Crow Residential. Davis holds an MBA in Finance from American University, and an M.S. degree in Engineering & Construction Management from University of Texas, and a B.S. degree in Civil Engineering from the University of Maryland.

Linda A. Kelly, CPA

Kelly is a consultant specializing in Computer System and Real Estate Accounting. Prior to launching her own firm in 1998, she was Chief Financial Officer at Borger Management, Inc. and Controller at Edgewood Management Corporation. Kelly has more than 30 years of accounting and auditing experience with affordable housing and real estate partnerships. She earned her bachelor’s degree from the University of Pennsylvania, and is a Certified Public Accountant.

MHP’s holistic approach to housing includes providing affordable rents, developing educational programs for residents to expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in troubled communities impacted by foreclosures and the downturn in the economy.

To learn more about MHP and how to get involved, visit us at www.MHPartners.org and follow us on Facebook and Twitter @mhpartners.

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MHP is a private, nonprofit developer that acquires, rehabilitates and builds quality apartments and homes in Montgomery County, MD. Since 1989, it has developed 1,200 units of affordable housing. MHP is a chartered member of NeighborWorks® America.