We all benefit when our communities are strong, home foreclosures are low, homelessness is prevented and homeownership is supported and promoted. Those are some of the strategic priorities of Minnesota Housing Finance Agency, the employer of several UST MS degree in Real Estate (MSRE) students including Marty McCarthy.
When most people think about real estate their first thoughts are often residential homes or new development in their community but often forget about public sector involvement like the work of Minnesota Housing. Learn more about the work being done to aid in providing affordable housing in our community, job functions within the public sector and the background of an MSRE student in our Q&A with Marty McCarthy.
What is your current company and position?
I am currently a senior underwriter at Minnesota Housing Finance Agency where I analyze multifamily development proposals. In this position I select and underwrite according to program regulations to result in high-quality affordable multifamily rental housing. The Minnesota Housing Finance Agency has a national reputation as one of the finest housing finance agencies in the country and works to provide access to safe, decent and affordable housing.
What is your educational background and experience?
I have a Bachelor of Arts from Saint Xavier University in Chicago. My Major was in Sociology and a Minor in Political Science. Previously, I worked for the City of Chicago Department of Planning and Development and the City of Saint Paul Department of Planning and Economic Development.
As Project Manager for the City of Saint Paul's Department of Planning and Economic Development, I utilized federal funding from the Neighborhood Stabilization Program (NSP) to purchase foreclosed homes to be renovated and sold as affordable housing. I manage the development of single-family and multifamily housing from inception to completion.
As a Project Manager for the City of Chicago’s Department of Planning and Development I managed real estate development projects including commercial, industrial and residential development projects on the City’s Westside. I administered Tax Increment Financing funds and other government incentives to support economic development projects such as industrial company expansions, commercial developments, infrastructure and streetscape improvements, and environmental remediation. This position provided me with an extensive understanding of community development and the ability to generate community partnerships and collaborations.
Why did you choose the MSRE program at UST?
I’m from out of town and I needed to increase my networking, and I wanted to expand my understanding of real estate development finance.
What are your future career goals?
I have always wanted to work for a private real estate development firm, but I am looking forward to learn as much as I can at Minnesota Housing.
What aspects of the MSRE program are you most excited about?
I am halfway through the program and expect to graduate in December 2015. I’m excited to take the New Venture Finance class in spring 2015 because I want to learn about alternative ways to raise funds for real estate projects.
What do you enjoy most about the real estate industry?
There are so many career opportunities within the field: you can be a real estate agent selling single family homes, an appraiser valuing the property for a football stadium, or an underwriter for the state reviewing multi-family affordable housing projects.
What is your favorite non-real estate pastime?
Baseball! Since I grew up on the South side of Chicago, I’m a fan of the Chicago White Sox. I try to see the Sox play the Twins every time they are in town. Additionally, I have also found cheering for the team playing the Cubs to be incredibly rewarding.