Weatogue, CT-based Vesta Corporation, a developer, owner and manager of affordable housing, announced that Steven Erie, managing director, principal and co-founder, is retiring after 35 years.
Since 1981, Erie and his partner and co-founder Arthur Greenblatt, have worked side-by-side and built Vesta into the organization it is today.
Greenblatt will continue to lead the company, and has a seasoned team of executives to ensure ongoing, successful stewardship of Vesta. Together they will continue to lead Vesta toward its stated goal of becoming a top-30 Affordable Housing owner.
Vest has delivered over $1 billion in financings for the development of more than 20,000 apartment homes in 12 states and the District of Columbia.
The co-founders began a relationship in 1970 as neighbors and friends. In 1981, they saw a need and an opportunity to facilitate access to funds to develop affordable housing.
Together they eventually began producing and owning affordable housing communities, with the goal of creating apartment homes which provide high-quality housing where residents can strive to reach their potential.