Conifer Realty LLC chairman Richard Crossed has retired and Timothy Fournier, president and CEO, has been named to the role, the Rochester firm said Thursday.
Crossed will continue to provide consulting services on a limited basis, and Fournier
retains the CEO title.
Fournier has served as president and CEO since 2006.
He joined the Conifer organization in 1986.
Timothy D. Fournier, who has served as President and CEO since 2006, will become Chairman and CEO.
From left to right: Andrew I. Crossed, Executive Vice President at Conifer Realty, LLC; Linda Hedden, Sr. Community Housing Planner of the City of Rochester; Carol Wheeler, Manager of Housing of the City of Rochester; Lisa Kaseman, Project Director at Conifer Realty, LLC; Sonia Nunez, Executive Director at ISLA Housing and Development Corp.; Jamie Ruben, Commissioner at NYSHCR; Baye Muhammad, Commissioner at the City of Rochester Neighborhood and Business Development; Dan Burns, Regional President at M&T Bank; Craig Burton from First Niagara Bank; Timothy D. Fournier, President and CEO at Conifer Realty, LLC
"It's a model that has provided a great return for us," said Timothy Fournier, president and CEO.
is a full-service real estate company specializing in the development, construction, management and ownership of affordable housing communities.
This past spring, Affordable Housing Finance magazine
as the third most-active developer of such housing in the country.
"It's quite a testament to our perseverance," Fournier
said of its 40th anniversary.
Founded in 1975, Conifer
has expanded not only the number of properties it owns and its geographic base but also its annual revenues.
The business has nearly 13,000 residential units at 199 properties, plus 20 properties-with a total of some 1,320 units-under construction.
The firm has regional offices in Rochester; Syracuse; Columbia, Md.; Mount Laurel, N.J.; and Erie, Pa.
The company's growth was helped by federal funding, first distributed as stimulus packages for affordable housing around the time of the 2008 global recession and then funding for housing in the aftermath of Hurricane Sandy, Fournier
Timothy D. Fournier