By Joshua Burd
A national multifamily developer has bolstered its New Jersey team with the hiring of a longtime affordable housing expert in the state.
The NRP Group announced Thursday that Samantha Hennessey has joined the firm as a development associate. Based in the company’s New Jersey office, she will seek to help it accelerate its development of affordable housing in the Northeast.
“NRP has demonstrated such a resolute willingness to work with communities, financial partners and other crucial stakeholders at the local level,” Hennessey said. “The development team has a fundamental understanding that it takes a village to develop high quality, accessibly priced housing. I’m excited to work with NRP and look forward to dedicating myself fully to serving the needs of New Jersey’s residents.”
Hennessey, who currently serves on the board of the Affordable Housing Professionals of New Jersey, has a deep background in development, construction and property management, according to a news release. She served for more than a decade at Community Investment Strategies as a project coordinator, where she had direct involvement in the development, construction and management of more than 2,000 affordable homes throughout New Jersey.
NRP, which has delivered more than 35,000 affordable and market-rate apartments nationwide and currently manages more than 19,000 units, was named the No. 5 Top National Developer of affordable housing for 2018 by Affordable Housing Finance Magazine, the news release said. With Hennessey’s expertise, the Cleveland-based developer is now seeking to expand affordable multifamily development in New Jersey and the Northeast.
“With her extensive network of professional relationships, deep knowledge of New Jersey affordable housing and personal commitment to the work, Samantha is sure to prove a key addition to the team,” NRP Group Vice President of Development Jonathan Gertman said. “Having Samantha on the team significantly advances our goal of providing exceptional rental opportunities to residents of the region, regardless of income.”
In her new role, Hennessey will leverage her experience in all aspects of project development, including due diligence, land closings, financial underwriting and permitting, the news release said. That oversight also will include architectural and engineering design, grant writing, RFP submissions, construction administration and professional oversight.
NRP touted Hennessey’s considerable expertise with the Mount Laurel Doctrine, the Low Income Housing Tax Credit Program and other affordable housing programs and initiatives, including the Federal Home Loan Banks program and Community Development Block Grant program.
“Samantha brings a wealth of knowledge about New Jersey’s affordable housing market, and I’m thrilled to see what she’ll accomplish with the full support of The NRP Group behind her,” NRP Group CEO and Co-Founder J. David Heller said. “I’m confident Samantha will thrive and grow in this exciting new role, and through their efforts New Jersey will benefit from the positive growth in affordable housing.”