New leader brings extensive experience in equity investing and affordable housing to help drive MHIC’s growth
Boston, MA, September 20, 2023 – Massachusetts Housing Investment Corporation (MHIC), an innovative private, non-profit financier in affordable housing and community development in New England, has appointed John-Paul (“JP”) Vachon as Deputy Director of Equity. JP brings extensive affordable housing financing experience, especially in Low Income Housing Tax Credit (LIHTC) equity originations and investment. At MHIC, JP will focus on building relationships with key developers and sponsors to identify new affordable housing construction and rehab projects. Collaborating with the Development and leadership teams, he will drive business strategy, corporate policy, and product development efforts that focus on meeting previously unmet financing needs in the community development marketplace.
“We feel fortunate to have someone with JP’s professional experience in real estate lending and capital investments join MHIC at this pivotal time as we seek to expand LIHTC investments in key areas across the region,” said MHIC President and CEO Moddie Turay. “Our exceptional leadership team is excited to welcome JP and to work with him to help create and sustain healthy, equitable communities where people, businesses, and organizations can thrive.”
JP will review loan and equity applications and perform credit analyses of financial statements for borrowers, guarantors, general partners, property managers, and general contractors, and prepare loan and investment proposals for presentation to the appropriate governing committee and Board of Directors. He will work closely with MHIC’s Community Investment team, reporting directly to K. Beth O’Donnell, Director of Community Investment.
JP has spent the past six years with Key Bank Real Estate Capital as Vice President of Community Development Lending and Investment, where he focused on providing comprehensive financing solutions for affordable housing development clients.
“MHIC is doing such important work across New England and has a stellar reputation for integrity and true collaboration with partners,” said JP. “I am excited to join this organization that I admire, and to help expand LIHTC investment in underserved areas across the region, working closely with MHIC’s Community Investment team.
JP holds a Master of Business Administration degree with a concentration in finance from Babson College, and a Bachelor of Business Administration degree with a concentration in marketing from George Washington University.
About Massachusetts Housing Investment Corporation
Founded in 1990, MHIC is an innovative private, non-profit financier of affordable housing and community development, providing financing that would not otherwise be available, and extending the impact of that financing to ensure the broadest possible benefit, especially to low-income neighborhoods and communities of color. MHIC has evolved from a Massachusetts-based loan pool to a full-service capital markets platform of debt and equity products serving New England. Supported by an experienced and dedicated staff, MHIC has invested more than $3.2 billion for 658 developments, representing more than 25,500 homes and 6.9 million sq. ft. of commercial space.