McCormack Baron Salazar, Inc. Announces New President

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St. Louis-based development company is well positioned for future growth

McCormack Baron Salazar, Inc., one of the nation’s leading for-profit developers of economically-integrated urban neighborhoods, is pleased to announce the installation of a new President of the development arm of the firm and other organizational changes that successfully position the development company for future decades.

Vince Bennett will become President of McCormack Baron Salazar, Inc.  Mr. Bennett will be responsible for the overall performance of the development company, overseeing all aspects of operations and managing a talented multi-disciplinary team of design, construction, legal, finance, and management staff.  Mr. Bennett previously served as Chief Operating Officer of McCormack Baron Salazar. Kevin McCormack, formerly President of McCormack Baron Salazar, Inc., will assume the role of Chief Executive Officer of the corporate holding company, MBA Properties, Inc.

“McCormack Baron Salazar is deeply committed to the work of bettering communities for families, children, seniors and veterans,” states Richard Baron, founder and Chairman of MBA Properties, Inc.  “There is an ongoing need across the country for providing quality, affordable housing as the cornerstone of rebuilding cities – and now is the time for a capable leader like Vince to assume a larger role within the firm to continue our mission and continue to grow the company.”

Mr. Bennett joined McCormack Baron Salazar in 1993, when he was hired to serve as a project manager for a mixed-income development in Pittsburgh, PA.  In addition to his role as Chief Operating Officer, his experience includes structuring and negotiating development transactions that include Low-Income Housing Tax Credit (LIHTC) equity, Community Development Block Grant (CDBG), HOME, HOPE VI/Choice Neighborhoods, New Markets Tax Credit equity, PHA capital, foundation funds, corporate donations, grants, and conventional debt. Mr. Bennett has particular strengths in facilitating communication and building consensus among local community organizations, elected officials, neighborhood residents, lenders, foundations, and state, local and federal agencies.

Prior to joining McCormack Baron Salazar, Mr. Bennett managed commercial and economic development activities for a community development corporation in the City of Pittsburgh. He has served on the Boards of Big Brothers/Big Sisters of Eastern Missouri and Habitat for Humanity Saint Louis. A graduate of the University of California in Santa Cruz with degrees in Economics and Psychology, he received his master’s degree in Management and Public Policy with concentrations in Financial Management and Urban Development and Planning at Carnegie Mellon University.

“I am excited to take on the challenge and opportunity to further grow McCormack Baron Salazar,” states Bennett. “I know the key to our success is based upon a strong, stellar team with talent and experience, as well as a shared commitment to our mission of rebuilding urban America.”

Richard Baron will remain Chairman of MBA Properties, Inc. and Tony Salazar will remain President of West Coast Operations for McCormack Baron Salazar, Inc.  Tim Zaleski will remain President of McCormack Baron Management, Inc., the property management company, and Hillary Zimmerman will remain President of McCormack Baron Asset Management.  Laurel Tinsley will remain the Executive Director and Chief Operating Officer of MBS Urban Initiatives CDE, the firm’s New Markets Tax Credits division.

McCormack Baron Salazar, Inc. is a nationally-acclaimed leader of affordable urban housing development.

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