Kevin J. McCormack, President
As President of McCormack Baron Salazar, Inc. (MBS), Mr. McCormack oversees all aspects of the development process, from new business development to project feasibility and development to the overall financial and operational performance of the company. He has been with the company since 1981 and has served as President since 2000.
McCormack Baron Salazar is a leader in promoting urban revitalization through the development of mixed-income and affordable communities with public-private partnerships. MBS has been in the forefront in the creative blending of Federal, State and community subsidies with conventional debt and equity to provide quality urban development. In the past thirty-five years, MBS has closed one hundred forty-six (146) projects with development costs in excess of $2.4 billion. The firm has developed 16,000 housing units and 1.28 million square feet of retail / commercial space. MBS’ projects are known for superior design, high-quality construction, innovative financial structures, and attention to non-residential needs, all which are combined to stimulate true transformation and revitalization.
During his tenure at McCormack Baron Salazar, Mr. McCormack helped pioneer the revolutionary HUD/public housing “mixed income/mixed finance” model, which combines Public Housing funds with first mortgage and equity funds and local and state subsidies. This model (the cornerstone of the HOPE VI and Choice Neighborhoods programs) is instrumental in transforming former public housing sites into mixed-income privately-managed housing and helps to deconcentrate poverty in urban areas while revitalizing previously stigmatized public housing sites.
Prior to joining MBS, Mr. McCormack served nine years as a vice president at a large, New York bank. He is a graduate of Lehigh University and received a master’s degree from University College, University of London, England.