After an extended search, the Richmond Redevelopment and Housing Authority’s (RRHA) Board of Commissioners has voted Steven Nesmith the Agency’s next Chief Executive Officer (CEO).
A former Assistant Secretary at the United States Department of Housing and Urban Development and former Deputy Assistant Secretary at the U.S. Commerce Department Economic Development Agency, Mr. Nesmith will take the helm of the organization on October 1, 2022. (Update: Mr. Nesmith’s first day was September 22, 2022.)
“Our Board is thrilled to welcome Steven as our next CEO. He has breadth and depth of knowledge combined with his passion and experience will ensure that RRHA strengthens its commitment to our residents and re- establishes itself as a leader in the creation of affordable housing. Steven is excited to build lasting partnerships with everyone in the community to deliver the best possible outcomes for our residents and our city.”Barrett Hardiman, RRHA Board Chairman
Mr. Nesmith brings decades of experience in the affordable housing, economic development, financial services, and banking industries.
The Philadelphia Pennsylvania native has lived in Virginia for 17 years and has served as Counsel at several large Washington, D.C. law firms, as well as several Public Housing Authorities across the country in areas of regulatory and compliance issues, the obtaining of federal and state funding, and implementation of low-income housing tax credit programs.
Additionally, he has extensive experience in Rental Assistance Demonstration (RAD) conversions under Section 8 Moderate Rehabilitation (Mod Rehab), and Section 202 properties with Project Rental Assistance Contracts (PRACs).
“I am pleased to be here. I know the Mayor and the City have some aggressive goals related to advancing affordable housing and economic development and I look forward to RRHA being a part of that solution.”Steven Nesmith, Incoming CEO
No stranger to public housing, Mr. Nesmith grew up in a public housing community and also served on their Resident Council.
Nesmith received his undergraduate degree from American University and his law degree from Georgetown Law School, both in Washington DC. He currently serves as the CEO of Capital Mortgage and Financial Services LLC, an advisory firm providing counsel to housing authorities, affordable housing developers, large and regional banks, financial services institutions, and non-bank mortgage companies.