Montgomery County Housing Exec Stacy Spann Joins MidCity as New CEO
MidCity, a Washington, D.C.-based, multifamily housing real estate firm, has named Stacy L. Spann as the firm’s new CEO, succeeding John Wall, who is transitioning into a senior advisory role after 40 years with the company.
“MidCity is a mission-driven organization with an incredible team and real estate platform,” Spann told Commercial Observer. “This is a unique opportunity to help shape and bring to fruition a world class portfolio.”
Spann joins MidCity from the Housing Opportunities Commission of Montgomery County (HOC), where he has served as executive director since 2012.
In his time with HOC, the agency was noted for its affordable housing finance and development programs, including a fiscally sustainable, mixed-income model that won numerous accolades from organizations like the Urban Land Institute, the National Association of Local Housing Finance Agencies and the National Association of Housing and Redevelopment Officials.
“Stacy’s vision and commitment to serving this agency and its customers over the last decade has been unparalleled,” Roy Priest, HOC’s chair, said. “Though he will be missed, he has built an incredible team of individuals, critical partnerships, and a robust framework that will ensure HOC continues to meet the promise of its affordable housing mission well into the future.”
Previously, Spann served as executive director of Howard County Housing, where he doubled the size of the housing unit portfolio and engineered the county’s first mixed-income developments.
Spann noted MidCity’s support of community, long-standing partnerships, and alignment with diversity, equity and inclusion are reasons that he was interested in the position, and prove that mission and margin are not mutually exclusive goals.
“My early focus will be learning the lay of the land and establishing relationships with the board and team,” Spann said. “MidCity has quite a bit on its plate, and I’m looking forward to being part of the team and contributing.”
For example, MidCity is currently redeveloping its 20-acre property, Brookland Manor, just off the Rhode Island Avenue Metro Station, a D.C. site that benefits from an Opportunity Zone designation.