Norton Point Development, HallKeen Management and Douglass Park Asset Management have launched HallKeen, a joint venture that will acquire a majority stake in the HallKeen Management platform. The JV marks a new era for HallKeen Management, a respected leader in affordable and workforce housing across Massachusetts and the Eastern Seaboard. It aims to scale HallKeen’s legacy through expanded capital strategies, operational innovations and deeper community engagement.
Harrison Rayford, principal of Douglass Park, David Oliveri, founder of Norton Point and Eric Somerville of Douglass Park will serve as co-managing partners of HallKeen. HallKeen principal Andy Burnes will serve as interim CEO. Their combined expertise spans capital markets, LIHTC compliance, mixed-income development, community engagement, social impact and long-term housing preservation strategies.
The ownership structure of HallKeen will include a 40% retained stake by the original HallKeen principals, while Norton Point and Douglass Park will drive strategic growth and new investment.
The post Boston-Area Affordable and Workforce Housing Veterans Launch JV appeared first on Connect CRE.