Mission
forward-thinking DEVELOPMENT
ABOUT
Impact Residential Development is funded by the private family office of Barry Sternlicht, the CEO and founder of Starwood Capital Group. Founded in 1991, Starwood is a global investment leader in real estate, with offices in more than 20 countries and over $125 billion of assets under management.
Under Mr. Sternlicht’s leadership, Starwood has made a long-term commitment to investing in the affordable housing sector, with more than 47,000 affordable units currently owned and operated across 246 communities in 24 states. According to Affordable Housing Finance, Starwood was the second largest owner of affordable housing in the country through year-end 2021. Starwood’s in-house property management firm, Highmark Residential, manages the majority of this portfolio and will provide third party operational and compliance expertise for Impact.
Impact Residential was formed to further Mr. Sternlicht’s mission to help solve the nation’s affordable housing crises by providing high quality new supply, where and for whom it is needed most. In building a purpose-built team of experts in multifamily design, construction, and tax credit financing, he has committed to developing a nationwide, long term portfolio from the ground up. Impact is truly a mission-driven enterprise, with a commitment from Mr. Sternlicht to contribute a portion of all project development fees toward his private charitable foundation.
TEAM
With an average of 22 years of experience in the industry, our three development executives are supported further by a dedicated team with careers focused on affordable housing and finance.
Alex Waterbury
Chief Executive Officer
Alex Waterbury
Chief Executive Officer
Hired in 2018 to lead U.S. property development for Starwood Capital Group, Alex leveraged Starwood’s broad operating platform to launch Impact Residential in 2021. Prior to Starwood and Impact Residential he held senior management roles with national multifamily developers including Lennar, Mill Creek, and Trammell Crow. In his 25 year real estate career he has been involved in the ground-up development of over 10,000 apartment units nationally, often partnering with city housing authorities and LIHTC development specialists to deliver both mixed-income and 100% affordable communities. A graduate of Northwestern University and with an MBA from Haas UC Berkeley, Alex is based in San Francisco.
Jessica Mullins
President
Jessica Mullins
President
Jessica brings over two decades of experience as a banker, strategic consultant, community impact leader and multifamily developer. Prior to joining Impact in 2021, Ms. Mullins was a director for Kittle Property Group, a leading national LIHTC developer. Additionally, she lead affordable housing development for a Houston-based non-profit, secured over $2 million in real estate client contracts at Jones Lang LaSalle, and underwrote over $50 billion in multifamily transactions while at JP Morgan Chase. A graduate of the University of Texas at Austin, Jessica is based in Houston.
Kevin Fitzpatrick
Director of Development
Kevin Fitzpatrick
Director of Development
Kevin has over eight years of affordable housing development experience and has utilized several financing sources in addition to 4% and 9% LIHTC, including various state and federal programs and mixed-income bond financing. Prior to joining Impact in 2022, Kevin was a Development Manager at Gardner Capital, where he managed the entire process of ground-up affordable housing developments from site selection to lease-up. A graduate of the University of Central Florida, Kevin is based in Orlando.
Logan Kieweg
Director of Development
Logan Kieweg
Director of Development
Logan has over three years of affordable housing experience, with a focus on managing complex LIHTC financings. Prior to joining Impact in 2022, Logan closed on over 2,000 affordable residential units as a Development Associate at Dominium, a leading national developer and operator of affordable housing. He also held positions at the Wisconsin Housing and Economic Development Authority and the City of Milwaukee Housing Authority. A graduate of the University of Wisconsin-Madison, Logan is now based in Dallas.
Mark Stewart
Director of Accounting
Mark Stewart
Director of Accounting
Mark has 15 years of real estate accounting experience, with a focus in development and construction across all asset classes. He is well versed in accounting for multifamily development, including financial reporting for HUD and MSHDA properties. In Mark’s most recent role prior to joining Impact in 2022, he was responsible for overseeing the accounting and financing of a multi-phased, $200 million mixed-use development on 38 acres in Florida. A graduate of Strayer University, Mark is based in Atlanta.
COMMUNITIES
Primary Regions
Target Markets
Partner
40,000
affordable
housing units
189
communities
nationally
70,000
market-rate
units
145,000
conventional
multifamily units
229
assets across
the country