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Joe Armstrong - President of MCR

Joe Armstrong, President of Multifamily Capital Resources, Inc.After working for three years as a site manager for a mixed-income apartment complex in Amherst, MA, Joe joined HUD’s Housing program staff in 1988 as a Senior Asset Manager. In this capacity, he provided regulatory oversight for a portfolio of over 35 multifamily properties participating in a variety of HUD rental subsidy and FHA Insured Mortgage programs.

Assigned as one of three Preservation Specialists in Massachusetts, Joe was instrumental in developing precedent-setting Preservation deal structures between 1989-1996 using the ELIHPA (Title II) and later LIHPRHA (Title VI) Preservation programs. As part of these duties, Joe represented HUD’s Boston Office of Housing at regular “Preservation Roundtables”, sponsored by the New England Affordable Housing Management Association (NEAHMA) and other leading trade associations, providing ongoing detailed technical updates to all aspects of HUD’s Preservation programs as they continued to evolve.

In addition, Joe co-authored Asset Management Rent Increase guidelines for the future oversight of closed ELIHPA and LIHPRHA transactions and designed and presented Expiring Use Preservation training programs for both the HUD Office of Housing and Housing Finance Agencies throughout New England.

Since starting MCR, Joe has served as lead technical consultant for the redevelopment of over 3,000 units of affordability-restricted, government-assisted, rental housing for the nation’s leading portfolios including Equity Residential Properties, The Winn Companies, The Wingate Companies, the Simon Companies, and Connolly and Partners, among many others (references available upon request).