BOSTON–(BUSINESS WIRE)–Boston Financial today announced that Hannah Blitzer will join the firm as Senior Director, Impact Investments, to lead American Community Capital (ACC), Boston Financial’s subsidiary CDFI. In this new position, she will be responsible for the development and growth of ACC and its loan fund strategy. Ms. Blitzer will report to and work alongside Sarah Laubinger, Chief Production Officer for Boston Financial.
Boston Financial formed ACC with the exclusive mission to promote community development by supporting the creation and preservation of affordable housing for low-income populations earning up to 80% Area Median Income. ACC invests in underserved communities by making loans and providing technical assistance to affordable housing developers and properties located throughout the United States. The firm plans to develop its CDFI investment offerings strategically to respond to the needs of its affordable housing investor and developer clients nationwide over the coming months. In February, Boston Financial announced that ACC had been certified as a CDFI by the U.S. Treasury Department, enabling the firm to further expand its efforts.
Ms. Blitzer joins Boston Financial with more than 20 years of experience working at the intersection of business and social impact, with expertise in capital strategies, deal structures, project finance, CDFIs, and affordable housing. Previously, she was the Executive Director, Public Housing Finance & Lending Strategies at New York City Housing Development Corporation where she oversaw a $10 billion lending platform for the rehabilitation of public housing. She has also served as Senior Advisor, Deputy Mayor for Housing and Economic Development at the New York City Mayor’s Office, and as Director, National Strategic Initiatives at Low Income Investment Fund (LIIF), a nationally recognized CDFI.
“In an environment of growing inflation, challenging labor markets and escalating interest rates, Boston Financial’s new CDFI capabilities will be especially critical in the market, as the capital needs of affordable housing development continue to exceed the guidelines of traditional financing. We are committed to meeting these challenges and expanding our role in supporting communities across the country through our new CDFI capabilities,” said Sarah Laubinger, Chief Production Officer at Boston Financial. “I am extremely enthusiastic about Hannah joining our team, as her reputation for excellence and expertise in both the public and private sectors position her very well as she leads ACC through its product development and other future phases of growth.”
About Boston Financial
Boston Financial’s vision is to create a future where everyone has a home, one investment at a time. Founded in 1969 and acquired by ORIX Corporation USA in 2016, Boston Financial is a national leader in the affordable housing industry, with a proven track record syndicating low-income housing tax credits (“LIHTC”) on behalf of institutional investors, as well as asset and portfolio management. Boston Financial currently manages a $15.7 billion portfolio comprising over 2,100 communities and more than 500,000 residents, making Boston Financial the largest investment manager in the tax credit industry.