Boston - Preservation of Affordable Housing, a national nonprofit developer/owner of 9,000 affordable apartments, has named Anthony Waddell as Vice President of Real Estate Development for the mid-Atlantic region. Waddell, former Director of Public Finance for the DC Housing Finance Agency (DCHFA), will help expand POAH’s efforts in the DC area and key mid-Atlantic markets from Pennsylvania to North Carolina.
Waddell will manage the redevelopment of the Barry Farm property in Southeast Washington, DC, part of the District’s New Communities Initiative to transform key neighborhoods by redeveloping public housing and the surrounding area into vibrant mixed-use, mixed-income communities. POAH is co-developer of the Barry Farm initiative with A&R Development. http://www.poah.org/property/district-columbia/barry-farm
“We are pleased to welcome Tony to the POAH team for DC and the mid-Atlantic,” said Rodger Brown, POAH Managing Director, Real Estate Development. “Having worked in the public and private sectors, Tony has relationships in place that will enable us to quickly grow our strategic footprint in the region. He brings an outstanding level of knowledge, skill and experience in creating affordable housing in the Baltimore-Washington corridor, which will be invaluable in our efforts to transform neglected, underserved neighborhoods and acquire, restore and preserve affordable housing assets throughout the region.”
Waddell worked for the DC Housing Finance Agency (DCHFA) for ten years as the director of public finance and has over 15 years of experience in executing, complex mixed-use, mixed-income, mixed-financed urban development projects as both a lender and developer. He was the chief underwriter and manager of DCHFA’s Multifamily Mortgage Revenue Bond Program. He helped finance over 7,800 units of mixed-income housing in the District; raising nearly $840 million in debt and over $430 million in equity in the public and private capital markets to finance the new construction and substantial rehabilitation of nearly $1.9 billion in affordable / mixed-income housing in the District.
In the private sector, as a project executive with Urban Atlantic, Waddell led two transformative HOPE VI joint ventures - Albemarle Square in Baltimore, MD and Capitol Quarter in Washington, DC which is still under development. The two projects together comprised over 2,100 units of housing (for sale and rental) and over 800,000 square feet of office/retail/community space. At Urban Atlantic Waddell managed over $700 million worth of development activity.
Preservation of Affordable Housing, Inc. (POAH) is a non-profit organization whose primary mission is to preserve and create affordable rental homes for low and moderate income individuals, seniors, and families. POAH also owns the Garfield Hill Apartments in Southeast Washington, DC and Washington Gardens in Hagerstown, MD.
POAH is also undertaking neighborhood transformation of similar scope and complexity in Boston, Massachusetts and Chicago, Illinois. In Boston, POAH is partnering with the Boston Housing Authority and a local non-profit to transform a 200 unit public housing project into a 580 unit mixed-income, mixed-use transit oriented development. In Chicago, POAH was selected to transform Grove Parc Apartments and the surrounding Woodlawn neighborhood by preserving and creating over 1,000 units of housing while providing job training and economic development stimulus to a struggling community on the door step of the University of Chicago.
Waddell is a graduate of The Johns Hopkins University Carey Business School, where he earned a Master’s of Science Degree in Real Estate with a concentration in Institutional Investment and Development.