Massachusetts Housing Investment Corporation
HNEF Senior Team Members
Joseph L. Flatley
Joe Flatley is President and CEO of the Massachusetts Housing Investment Corporation (MHIC). He has led the organization since it was founded in 1990 as a private non-profit whose mission is to be an innovative financier of affordable housing and community development. Over the twenty-six year period since its inception, MHIC has invested over $2.5 billion in 551 projects – for the creation of more than 21,000 units of affordable housing and more than one million square feet of commercial space. MHIC has been a leader in the creative utilization of the New Markets Tax Credit program to finance community development projects and has been awarded ten allocations of New Markets Tax Credits totaling $742 million. Prior to MHIC, Joe served for many years in a number of positions in state government advancing affordable housing and community development, including Assistant Secretary for the Massachusetts Executive Office of Communities and Development (EOCD), and Chief Planner with the Office of State Planning. Joe serves on a number of national and local boards; a few notable examples include the National Association of Affordable Housing Lenders, Citizens Housing and Planning Association, the New Markets Tax Credit Coalition, and the Affordable Housing Institute. Joe is a native of Chicago, and is a graduate of MIT and Harvard University, where he earned degrees in city planning.
Peter Sargent is the Director of Capital Development of the Massachusetts Housing Investment Corporation (MHIC). Mr. Sargent joined MHIC in February 2008. From 2000-2008 he was Managing Director of Investor Relations for a New York City based tax credit syndicator where he was responsible for raising LIHTC investment funds from investors across the United States. From 1996–1999, Mr. Sargent worked for BankBoston Development Company (“BBDC”) where he managed the tax credit group that invested in LIHTC and HTC properties throughout BankBoston’s market. Prior to BankBoston he held a variety of positions at BayBank Boston, N.A. from 1992-1996. Mr. Sargent has an MBA from the American Graduate School of International Management and a B.A magna cum laude from Ohio Wesleyan University majoring in Japanese studies.
Kathleen McGilvray currently serves as the Director of Investment for Massachusetts Housing Investment Corporation (MHIC), a non-profit specializing in the financing of affordable housing and community development projects throughout New England. Ms. McGilvray joined MHIC in 2003 as an asset manager and transferred to the development department in 2005. Ms. McGilvray now manages the underwriting staff and project pipeline for MHIC.
Prior to MHIC, Ms. McGilvray worked as an auditor for Coopers & Lybrand where she had healthcare, financial services, bio-tech and non-profit clients, and worked for a physician practice management company at which she was responsible for conducting the financial analyses for physician practices looking to join the company. She was also Director of Financial Reporting for an internet commerce company, Fatbrain.com, which she brought through an Initial Public Offering.
Ms. McGilvray is a member of the Somerville Community Corporation Board of Directors, where she currently serves as Treasurer, and is former co-chair of the Housing and Community Development Committee of CREW Boston (formerly New England Women in Real Estate “NEWiRE”). She also serves on the Board of Trustees and the Finance, Audit & Compliance, and Strategic Planning Committees of the Cambridge Health Alliance, a health system comprised of three community hospitals and numerous health clinics throughout Boston’s metro-North. Ms. McGilvray holds a Master in Public Policy from Harvard University's John F. Kennedy School of Government and graduated magna cum laude from Tufts University with a Bachelor of Arts Degree in Economics and American Studies.