Priscilla Almodovar has been named CEO of Enterprise Community Partners, following a unanimous vote by its board of trustees.
Enterprise is a leading national social enterprise, creating opportunity for low- and moderate-income families through affordable housing in diverse, thriving communities.
Almodovar is a former Enterprise trustee and well-positioned to oversee the entire Enterprise family of companies, which consists of 1,200 employees and 11 market offices across the country.
She will couple her business, philanthropic, banking and government background with an innovative approach to delivering capital, developing programs and advocating for bipartisan policies necessary to create and preserve homes that people can afford in inclusive and connected communities.
Almodovar will work with partners, funders, investors, residents and employees to scale neighborhood impact. Building on the strength and breadth of the Enterprise portfolio, she will also lead the organization through its next strategic planning process.
Under her leadership, Enterprise will strengthen its long-standing commitment to healthy communities by focusing on ground-breaking programs, like Health Begins with Home, supporting racial equity initiatives, and producing industry-leading impact investment tools and programs tailored to communities across the country.
“Priscilla has blazed a career path that uniquely situates her to lead a proven and powerful organization like Enterprise Community Partners,” said Ron Terwilliger, chair of the Enterprise Community Partners board of trustees, and chair of the Enterprise Community Investment board of directors.
“She will be central to fully integrating Enterprise and shaping the strategic direction of the organization as it seeks to create more opportunity for low- and moderate-income people. She is joining Enterprise at a very exciting time.”
Almodovar is a veteran public- and private-side advocate for affordable housing and community development.
She joins Enterprise from JPMorgan Chase, where, as a managing director, she led two national real estate businesses for their commercial bank, one in commercial real estate and the other in community development.
In these roles, she led teams of real estate professionals responsible for partnering with for-profit and nonprofit entities, local and state governments, and other organizations to finance projects across the country.
As head of Chase’s community development group, Priscilla was instrumental in JPMorgan Chase’s award-winning commitment to support Detroit’s economic recovery.
Prior to her time at JPMorgan Chase, Almodovar was CEO and president of New York state’s housing finance and mortgage agencies, where she is credited with transforming the agencies and leading them during the Great Recession.
“I am honored to join the exceptional team at Enterprise who are focused on making a positive impact on the lives of countless families across the country,” Almodovar said.
“Enterprise has always been an important voice on issues of opportunity, inequality and housing. And these issues are personal to me. I still remember as a 5-year-old moving into our first home. My family’s house was in a working-class Puerto Rican neighborhood in Brooklyn, connected to solid public schools, doctors, transit and more. Today, there are too many families being left behind. I am proud of my time at JPMorgan Chase and the difference we made in the communities it serves, and I look forward to continuing my career by helping others at Enterprise.”
More than one in four households who rent – 11.4 million – spend more than half of their income on rent, leaving too little for other necessities like health care, transportation and food. While the challenges are getting tougher, Enterprise will be relentless in our approach to finding new solutions.
“Priscilla is the complete package, offering all of the leadership qualities essential for a social enterprise to thrive,” said Jonathan Rose, an Enterprise Community Partners trustee and president of Jonathan Rose Companies LLC. “Her experiences and skills match every aspect of Enterprise’s toolkit to address the nation’s housing and opportunity crisis.”
Almodovar is among the very top Latinas in U.S. business today. She earned a bachelor’s degree from Hofstra University and a J.D. from Columbia University.
Almodovar, who lives in New York City with her husband Eric Dinallo and their two children, will begin in September.