Industry News

Biden Nominates Jared Bernstein As A Member of the Council of Economic Advisers

From 2009 to 2011, Bernstein was the chief economist and economic adviser to Vice President Joe Biden, executive director of the White House Task Force on the Middle Class and a member of President Obama’s economic team.

Biden Taps Yellen for Treasury Secretary

President-elect Joe Biden intends to nominate Janet Yellen to serve as his administration’s Treasury Secretary, according to media reports. If confirmed, Yellen would be the first woman to hold that position. She previously served as Federal Reserve Chair from 2014-18 under the Obama Administration, and was a Federal Reserve Board Governor, President of the San Francisco Federal Reserve Bank and Chair of the Council of Economic Advisers in the Clinton Administration.

Continued Availability of COVID-19 Supplemental Payments for HUD-Assisted Properties

HUD’s Office of Multifamily Housing published Housing Notice (HN) 2020-11, opening a second application period for owners of Multifamily-assisted properties to apply for CARES Act supplemental funds to offset property expenditures to safely serve residents in light of COVID-19. The notice allows owners to submit payment requests for expenses incurred through November 30, 2020. Requests are due to HUD or the Contract Administrator by December 11, 2020,

Member News

Mark Straub Retires from Pennrose, Congratulations!

Mark Straub’s last day at Pennrose will be December 31, 2020. During his tenure with Pennrose, Mark has played a pivotal role in developing and growing the Pennrose platform and business in the Southeastern U.S.

Mack Hancock Joins Pennrose Property Management Executive Team

Pennrose announced that Mack Hancock has joined the organization as Vice President of Operations for the Property Management Company. Hancock, an industry veteran with more than 30 years of experience, will provide property management leadership and oversight for properties in Pennsylvania, New Jersey, Connecticut and Massachusetts.

MassHousing, Preservation of Affordable Housing (POAH), and City of Boston Announce Closing of $36.5 Million in Financing for the Loop at Mattapan Station, a New Transit-Oriented, Mixed-Income Housing Community

MassHousing, the non-profit Preservation of Affordable Housing (POAH), and the City of Boston announced the closing of $36.5 million in MassHousing affordable housing financing for the development of the 135-unit The Loop Mattapan Station, a new affordable and workforce housing community in Mattapan Square.