We understand the challenges facing affordable housing developments. Our team of experienced professionals will apply best practices and lessons learned from projects across the U.S. to deliver tailored, innovative solutions that achieve your goals.
Leadership
Christopher Hesen, Chief Executive Officer
As the owner and Chief Executive Officer, Christopher Hesen is responsible for defining the firm’s current and future direction, setting strategic and operational goals, identifying and developing new business opportunities, and keeping the firm at the forefront of innovation in affordable housing. Mr. Hesen has over 25 years of experience in managing consulting firms, with the past 14 years dedicated exclusively to affordable housing consulting, transaction management, and capital planning and leads the Capital Planning division of Recap.
Shannon Lestan, Managing Director
Shannon Lestan is the Managing Director of Recap Real Estate Advisors. She has over 19 years of affordable housing experience to draw upon when structuring complex affordable housing preservation transactions. Her deal background encompasses a broad range of public housing and HUD Multifamily programs including RAD Components I and II, Section 18 Demo/Dispo, Section 8 PBRA, Section 236 Decoupling, LIHPRHA, and Project-Based Vouchers. At Recap, Shannon has helped over 40 Public Housing Authorities navigate the complexities of HUD’s portfolio asset repositioning programs, starting with a site visit, in depth discussions of long-term organizational goals, financial feasibility, application, and closing. The potential overlap in subsidies and regulatory compliance makes conversion/preservation complicated and greatly impacts the residents and the existing employees. Shannon’s in-depth understanding of HUD’s site-level management and occupancy requirements and strong communication skills lessen the anxiety for the Owners, Agents, and residents.
Affordable Housing Consulting Team
Joyce Floyd, Senior Principal
Joyce Floyd is a Principal employee with over 30 years of affordable housing experience. Joyce specializes in Strategic Planning components and all areas of RAD conversions from no debt to LIHTCs and FHA financing. Prior to joining Recap, Ms. Floyd served as the VP of Strategic Planning and Development at another firm and was responsible for leading the Strategic Planning process; as well as leading their multi-phase portfolio RAD conversion. Ms. Floyd currently serves as the Chair of the SERC/NAHRO RAD Committee and as a lead RAD representative on the NAHRO CR&D Committee.
Gates Dunaway, Principal
Gates Dunaway is a Principal and HUD subject matter expert on multifamily preservation strategies. She specializes in executing preservation strategies for our clients with HUD 202 Direct Loans, Section 236 Loans, Flexible Subsidy Loans, expiring Tax Credits, Section 8 contracts, and RAP and Rent Supplement contracts. Ms. Dunaway spent 15 years with regional and local non-profit affordable housing developers and worked with a team of HUD experts on preservation strategy training which took place at HUD offices around the country. She serves on the board of the Institute for Aging, is a special consultant to the national LeadingAge organization on matters related to preservation financing and is a frequent trainer for HUD. Ms. Dunaway holds a Bachelor of Science in Civil Engineering and a Master of City Planning, each from the Georgia Institute of Technology.
Robin Haddock, Principal
Robin Haddock is a Principal employee who specializes in development and project management services within the affordable housing industry. Ms. Haddock has a successful track record of utilizing a variety of affordable housing financing products and a strong understanding of the development process from project inception through construction completion and conversion. Ms. Haddock has secured competitive financing for projects including emergency shelters, supportive housing, workforce housing and housing for seniors. Ms. Haddock has experience managing a diverse array of projects including adaptive reuse, historic preservation, substantial rehabilitation and new construction. Ms. Haddock holds a Master of Science in Land Development from Texas A&M University and a Bachelor of Science in Community & Regional Planning from Iowa State University.
Audrey Martin, Associate Principal
Audrey Martin is an Associate Principal who specializes in financial feasibility and structuring of affordable housing transactions, securing funding under the 4% and 9% LIHTC programs, and affordable housing development. She has experience in both the public and private sectors including the Low Income Housing Tax Credit (LIHTC) program, the HOME Investment Partnership, and Section 8. Ms. Martin received her Bachelor of Business Administration in Finance from the University of Texas in Austin and MBA from Texas State University, in San Marcos, Texas. Prior to joining Recap, Ms. Martin worked with two LIHTC development firms and spent five years at the Texas Department of Housing and Community Affairs (TDHCA).
Capital Planning Team
Karen Dubowski, Operations Manager
Karen joined OSI in 1991. Karen manages the day-to-day operations of the firm, including sales and client relations, management of daily/monthly accounting activities, payroll and HR support. She is also responsible for OSI’s NSPIRE division. Karen received a Business Administration degree in Accounting and Business/Management from Suffolk University Sawyer School of Management.
Tyler Hesen, Operations Coordinator
Tyler has been with OSI since 2022 as an Operations Coordinator. In his role, he is responsible for the preparation and delivery of reports to the client. Tyler is also responsible for assessment scheduling and assists with sales proposals and customer service.
Matthew Chown, Senior Associate
Mr. Chown is a Senior Associate in the capital planning division. He brings experience in the preparation of capital needs assessments for residential and industrial developments as well as performing property condition assessments on a variety of properties for potential real estate transactions and due diligence purposes. Mr. Chown holds a Bachelor of Technology in Civil Engineering form McMaster University and a three-year advanced diploma in Architectural Technology from the Humber School of Applied Technology. Prior to joining the firm, Matthew was a building assessment specialist with EXP Services Inc.
Bruce Hutchinson, Senior Associate
Bruce Hutchinson is a Senior Associate in the capital planning division specializing in the appraisal of many types of income-producing and specialized properties, including office buildings, industrial facilities, vacant land, subdivisions, and both small and large apartment developments. Mr. Hutchinson has more than six years of commercial real estate experience and is a BPI Certified Professional (Building Analyst/Multi-Family). He has successfully completed more than 500 capital needs assessments throughout the United States including properties financed under various programs administered by MassHousing, the Michigan State Housing Development Authority, Mercy Housing in Washington State, and the Lincoln Nebraska Housing Authority.
Daniel Iles, Senior Associate
Mr. Iles serves as a Senior Associate and energy audit specialist in the capital planning division of Recap. He has completed over 100 capital needs assessments, green capital needs assessments, and energy audits on multi-family and condominium properties, as well as commercial, school, and municipal buildings. He has a background in construction and a Bachelor of Marketing from Lasell College in Newton, Massachusetts. Mr. Iles is a Building Performance Institute (BPI) certified Multi-family Building Analyst. He has experience using several types of energy modeling software including TREAT and QUEST and prior to joining Recap, Daniel was an energy auditor for The Center for Ecological.
Steve Ninos, Assessment Associate
Steve started out with OSI working with clients, writing proposals, and researching affordable housing financing programs before moving on to Assessment. He has completed more than 125 capital needs assessments on multifamily, commercial office, educational, and municipal buildings. Steve is a BPI certified Multi-family Building Analyst and LEED Green Associate, and has a degree in Materials Science Engineering from Brown University.
Tina Cardoso, Account Representative/Senior Associate
Ms. Cardoso has served in the capital planning division since 1995. She is familiar with a wide array of housing authorities and clients including The Chicago Housing Authority, Lincoln Nebraska Housing Authority, the Boston Housing Authority, Rural Development, HUD, several state housing and finance agencies, health care facilities, and educational institutions. Tina specializes in accessibility (ADA) evaluation–creating presentations on accessibility, design considerations on barrier assessments, and serving as an expert witness in accessibility disputes. Tina received her Bachelor of Architecture from Wentworth Institute of Technology and has completed more than 350 capital needs assessments throughout the United States.