NYC Affordable Housing Series: Flattening The Cost Curve

Alicia Glen is the Founder and Managing Principal of MSquared, a nationwide real estate development and investment platform creating the next generation of mixed-use, mixed-income projects in rapidly growing and increasingly unaffordable cities and metro regions. Alicia is the former New York City Deputy Mayor and a nationally recognized expert in urban development, infrastructure finance, job creation, and housing policy. As Deputy Mayor from 2014 to 2019, Alicia was the architect of “Housing New York” – the largest housing plan in the nation – and developed and financed over 125,000 affordable homes, shattering all previous records. She also created “NYCHA 2.0,” a stabilization and modernization plan to generate $24 billion in funds for renovations and essential capital repairs across NYCHA’s portfolio by converting units to private management and building new mixed-income projects. She also launched the largest municipal ferry system in the United States; initiated large scale planning efforts on the Long Island City waterfront, Sunnyside Yard and Governors Island; negotiated the expansion of Google’s NY campus, spearheaded the rezoning of the Garment District and East Midtown; established the Tech Talent Pipeline for the life sciences and technology sectors; and repositioned the City’s industrial assets to support modern manufacturing and film and TV production. Prior to serving as Deputy Mayor, Alicia was Head of the Urban Investment Group (UIG) at Goldman Sachs and co-led the firm’s 10,000 Small Businesses initiative. Under her leadership, UIG catalyzed more than $5 billion of mixed-use development in cities across the country through equity, debt, and tax investment vehicles. UIG also invested in and structured innovative public-private partnerships, including the first domestic Social Impact Bond, CitiBike bike share, “New Lab” in the Brooklyn Navy Yard, the headquarters of the National Dance Institute at P.S. 90, and Teacher's Village in Newark, NJ. From 1998-2001, Alicia served as the Assistant Commissioner for Housing Finance at the NYC Department of Housing, Preservation and Development. An attorney who practiced at several national law firms in their real estate groups, she began her career at Brooklyn Legal Services. Alicia is the current Chair of the Trust for Governors Island and Chair of women.nyc. She is also an advisor to the Terner Center for Housing and Innovation at UC Berkeley and an adjunct professor at Columbia Business School. Alicia received a BA from Amherst College and a law degree from Columbia University.

Margaret is head of the Urban Investment Group (UIG), a domestic, multi-asset class investing and lending business within the Merchant Banking Division (MBD) that provides equity and debt to real estate projects and social enterprises, as well as lending facilities to help small businesses grow and create jobs. Established in 2001, UIG has committed over $9 billion to community and economic development investments, serving as a catalyst in the revitalization of underserved, predominantly minority communities. Margaret serves on the MBD Real Estate Investment Committee and is chair of the Urban Investment Group Capital Committee. She is also on the Board of Advisors of Launch With GS, Goldman Sachs’ $500 million commitment to invest in companies and investment managers with diverse leadership. Previously, Margaret worked in Equity Derivatives in the Securities Division. She joined Goldman Sachs as an analyst in 2003 and was named managing director in 2013 and partner in 2018. Margaret serves on the boards of several community and economic development organizations, including the Brooklyn Bridge Park Corporation, Center for an Urban Future, Core Innovation Capital, Low Income Investment Fund, New York Public Radio and The Africa Center. Margaret earned a BA in Computer Science from Harvard College in 2003.

Tricia Yarger is the Head of Capital Markets at Fairstead, where she manages the firm’s debt and equity relationships while helping outside capital partners direct their investments into Fairstead properties. Tricia was a Director with Citi Community Capital for more than a decade, responsible for the origination and structuring of affordable multifamily debt transactions in the eastern region, including New York City. Tricia has been involved in the affordable housing industry since 2005. She has closed nearly 200 multifamily affordable housing real estate transactions creating and renovating 28,100 apartments totaling more than $3.39 billion of debt originations. Prior to Citi, she was a Senior Vice President at Centerline Capital Group responsible for property acquisitions for Centerline’s Low Income Housing Tax Credit funds. Before working at Centerline, Tricia was at General Electric for six years in various finance roles. Tricia graduated Magna Cum Laude from Boston College with a BS degree in Finance.

Dailey Tipton has spent many years in senior positions of management where he is recognized for his expertise in energy and sustainability. He has a long history of growing companies, from start-up to Fortune 500 in size. As the leader for revenue generation for Evolution Energy Partners, Dailey focuses on creating opportunities for customers to drive impact to their bottom line through energy management projects while increasing their sustainable footprint. Prior to EEP, Dailey worked at CPower as a General Manager, SAP as the leader for Energy Management and Sustainable Applications Center of Excellence, DATUM as part of the management team and created, launched and managed a highly successful SAP sustainability practice for ERM. Dailey started his career as a Naval Flight Officer and is a Veteran of Foreign War with multiple recognitions including two Navy Achievement Medals. He holds two degrees in Engineering: MS in Civil Engineering from the University of Texas and BS in Mechanical Engineering from Auburn University. In his off time, Dailey is a competitive runner, cyclist, long distance open water swimmer and sails boats competitively. Dailey is on the Board of Directors for US Patriot Sailing, a wounded warrior program that provides support to the “Silently Wounded” warriors. Married 34 years to Jessica, who he met at Auburn, with two children Nate 30 and Leah 27.