3 Questions with Kathleen Evans

Kathleen Evans recently took on the role of Senior Director of Multifamily Production at MassHousing, where she leads a team of dedicated professionals in the origination, underwriting, and closing affordable housing transactions.

1. How would you describe your new role, its goals and outcomes?
In my new role, I oversee all areas of multifamily loan production. Previously, I’d overseen originations – but this change brings origination, underwriting, and technical services (as well as the Affordable Housing Trust Fund team) all under the same header.
The groups I oversee work collaboratively to bring developments from concept to closing. Now that we’re all under the same umbrella, we’re working to make that collaboration – and adaptation to anticipate, confront, and respond to challenges – happen in a more fluid way. We’re sharing resources and thought processes. Staff are working more fluidly between areas.

2. What do you see as the biggest challenge to developing multifamily housing in Massachusetts?
While Massachusetts is a high-capacity region, it’s also an incredibly high-cost market. Our construction costs, land costs, labor costs – and many other costs – are all higher than in many other regions. Costs are such a massive challenge.

3. How has the multifamily industry changed since you joined MassHousing in 2016?
There’s always something new! Different advantages (that we take for granted at the time) or challenges (that we think we’ll never overcome). But things are always evolving. A few years ago, there was a ton of subsidy in the market, but not enough volume cap. Changes to the bond rules and to the federal funding environment mean that that is now reversed. Luckily, what’s always been true is that Massachusetts has some amazing professionals working in this space who are thought leaders and know how to think, adapt, and change.