CLEVELAND, Aug. 4, 2021 /PRNewswire/ --The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced that Aaron Pechota has been promoted to the position of Executive Vice President of Development and Head of Affordable Housing. Pechota will report to Ken Outcalt, Principal and President of Development at The NRP Group.
The promotion comes after nearly 18 years of service at The NRP Group, most recently in the position of Senior Vice President of Development.
"The promotion of Aaron Pechota to Executive Vice President of Development and Head of Affordable Housing reinforces The NRP Group's commitment to affordable housing development on a national level," said J.David Heller, Principal, President and Chief Executive Officer at The NRP Group. "Aaron has proved to be an invaluable asset to the team, demonstrating an incredible understanding of how to successfully navigate the many nuanced complexities that come with developing affordable housing communities. Our firm has experienced exceptional growth these past several years, in spite of the many challenges that presented themselves during the global health crisis, and we are excited to continue our mission of delivering high-quality rental housing to families and individuals regardless of income."
In his new role, Pechota will oversee a team of 11 associates across the country. His daily responsibilities will include expanding the development pipeline of affordable housing communities in strategic growth markets across the U.S. and in areas where NRP has a strong affordable housing presence like in Texas and Ohio. Last year alone the company broke ground on more than 900 affordable housing residences in Texas across four developments, working in tandem with local municipalities to help address the economic and social inequalities exacerbated by the pandemic for residents of low-income profiles.
Pechota will leverage his years of experience and insight to help local developers fulfill their visions and build a pipeline of affordable housing communities in markets including Maryland, Virginia, Washington, D.C. and New York where NRP's market rate communities are flourishing and in great supply. Pechota also will facilitate opportunities for regional development teams to deepen their relationships with one another, sharing ideas cross-market and collaborating on successful initiatives.
"Delivering quality affordable housing communities can be incredibly challenging in markets throughout the Mid-Atlantic region where The NRP Group seeks to expand its offering to support low-income families," said Outcalt. "Aaron Pechota, with his years of development experience and industry know-how, is well positioned to help our local development teams meet these challenges head-on."
This year, The NRP Group will close and start construction on more than 2,000 affordable units, with a goal to grow the business to approximately 2,500 units annually over the next several years.
Pechota joined The NRP Group after receiving a Master of Business Administration (MBA) degree in finance from Case Western Reserve University in Cleveland, Ohio. He graduated from the University of Dayton with a Bachelor's degree in finance and accounting.
"I am honored and humbled by the opportunity to help accelerate the growth of The NRP Group's affordable housing business on a national scale," said Pechota. "Having been with the company for nearly two decades, I have witnessed first-hand NRP's rapid maturation and growth from a regional affordable housing developer to a major multifamily powerhouse that provides all individuals with housing regardless of income. This is a huge differentiator for our firm and is the reason NRP is now the largest developer in the country to build and manage both affordable and market-rate communities."
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About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has developed more than 43,000 apartment homes, and currently manages over 23,000 residential units. The company employs the entire breadth of its in-house capability to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company's formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of expertise by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.