L+M Development Gets New COO and President of Development

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L+M Development Partners is shaking up its leadership by promoting several longtime executives, Commercial Observer has learned.

Amy Cordone, the former senior vice president of operations and strategy, has been appointed to chief operating officer, succeeding Lisa Gomez, who was promoted from COO to CEO of L+M in December 2021. The position was vacant over the last 13 months.

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Meanwhile, Spencer Orkus, who has been with the affordable housing developer since 2007, will take on the role of president of development and partner, while Nikki Wernick will become executive vice president of L+M subsidiary C+C Apartment Management.

“Spencer, Amy and Nikki have been key contributors within our company, helping to advance our capacity to develop, build and manage quality affordable housing,” CEO Gomez said in a statement. “I have worked closely with all of them and know that they are the right people to steward our commitment to working together to build stronger communities.”

Orkus will replace David Dishy, who has moved on to lead L+M’s mixed-income development arm LMXD, while Wernick will be in a newly created role.

As COO, Cordone will specifically oversee marketing, insurance risk management, and workforce and contractor diversity for the firm, bringing with her 25 years in the real estate industry and nine years with L+M, according to L+M.

During her time with the firm, L+M credited Cordone with streamlining its operations and establishing the “Workforce and Contractor Diversity” group, which aims to L+M hire more minority- and women-owned business enterprises on its projects. 

Orkus was credited with overseeing the creation of about 5,000 new affordable units within L+M’s mixed-use portfolio and raising $2.5 billion in financing for projects over the 15 years he has been with the company, most recently serving as senior vice president.

He has also had a hand at making the firm’s projects more sustainable and resilient through geothermal heating and cooling of buildings, according to L+M.

Wernick, already holding several leadership roles at C+C since joining the firm in 2014, will be responsible for residential compliance, residential leasing, social services and building operations for L+M’s existing portfolio.

This makes Wernick the direct report for managers of up to 80 properties and 20,000 units across New York and New Jersey. Her previous positions included senior vice president of operations and senior vice President of residential leasing and compliance.

Mark Hallum can be reached at mhallum@commercialobserver.com.