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Building a Richmond for All: How affordability is impacting the growth and future of Richmond

Discover how Richmond is harnessing affordable and attainable housing to attract growth and economic development that will define the future of Richmond.

Shelby Carney

Shelby Carney

Special Projects Director

The Partnership for Housing Affordability

Greta Harris

Greta Harris

President and CEO

Better Housing Coalition

Ross Magette

Ross Magette

Development Partner - Richmond

Middleburg

Bernard Harkless

Bernard Harkless

Principal

Lynx Ventures

Jaynell Pittman-Shaw
Affordable Housing Trust Fund Manager

Jaynell Pittman-Shaw

Senior Project Development Manager

City of Richmond

Drew White
Moderator

Drew White

Senior Managing Director

Berkadia

Shelby Carney

Special Projects Director

The Partnership for Housing Affordability

Shelby Carney serves as the Special Projects Director for the Partnership for Housing Affordability, a nonprofit committed to expanding access to quality housing through policy, research, and collaboration. In this role, she partners with local governments, developers, and community stakeholders to design and manage investment initiatives that increase housing opportunity in the Richmond region. Ms. Carney currently leads administration of Henrico County’s $60 million Affordable Housing Trust Fund, which to date has supported the creation of more than 140 homes for first-time buyers. The Fund is set to advance the county’s goal to deliver 750 new construction affordable homes across all Henrico magisterial districts by 2030. She has also played a key role in attracting new grant resources—securing a competitive award through the Regional Housing Development Program to expand cross-sector collaboration and deliver critical gap funding for affordable rental and homeownership projects. Over the next two years, PHA will administer this grant allocation to help produce 160 affordable housing units in 7 localities across the Richmond region.

Greta Harris

President and CEO

Better Housing Coalition

Greta J. Harris is President and CEO of the Better Housing Coalition (BHC). For more than two decades, she has worked across the country in emerging markets and creatively financed and/or developed $1 billion of environmentally supportive residential investments, creating good places to call home and helping unleash potential in modest-income communities to become more sustainable. Ms. Harris has been highlighted in podcasts and documentaries and has testified before Congressional committees regarding the importance of a strong community development industry. She is an Independent Director for the Markel Group, a global publicly traded Fortune 300 company, and serves on the boards of Housing Partnership Network, Greater Washington Partnership, Virginia Housing Minority Business Council, and The Richmonder.

Ross Magette

Development Partner - Richmond

Middleburg

Mr. Magette is responsible for sourcing, structuring, executing, and managing new multifamily and build-to-rent (BTR) development opportunities across Virginia and the Mid-Atlantic Region. Ross has nearly 15 years of experience developing, constructing, and financing residential, commercial, and mixed-use properties. He was previously Senior Vice President of Development at FCP where he managed the execution of a portfolio of development assets totaling $1.2B across 10 states, encompassing approximately 3,000 residential units and 1M square feet of commercial space. Ross also has experience working with Donohoe Construction Company, AvalonBay Communities, Inc., and The Kirkland Company. Ross received a Bachelor of Science in Civil and Environmental Engineering from the University of Virginia and a Master of Business Administration from Vanderbilt University.

Bernard Harkless

Principal

Lynx Ventures

Bernard manages development and execution of Lynx projects, relying on his experience in architecture, construction, and urban planning. Prior to joining Lynx, Bernard developed luxury condominiums, apartments, and affordable housing in New York City and gained significant experience in construction management with Clark Construction in Washington, DC. Bernard currently serves as board chairman of Storefront for Community Design, and on the board of the Partnership for Housing Affordability. He holds a degree in architecture from the University of Virginia and dual master’s degrees in real estate development and city planning from the Massachusetts Institute of Technology

Jaynell Pittman-Shaw

Affordable Housing Trust Fund Manager

City of Richmond

Jaynell Pittman-Shaw has more than 22 years of experience advancing inclusive and

sustainable housing opportunities across the country. To this end, she has underwritten

over $1 billion in loan commitments and is known for transforming complex financial

and regulatory frameworks into actionable strategies that expand access to quality,

affordable housing.

With a career spanning both the public and private sectors, Jaynell brings a balanced,

comprehensive perspective to housing development. She currently serves as Senior

Program Manager of the Affordable Housing Trust Fund within the City of Richmond’s

Department of Housing & Community Development, where she leads program

implementation, oversees funding strategies, and ensures alignment with the City’s

broader development priorities. As a Senior Tax Credit Allocation Officer at Virginia

Housing for 10 years, Jaynell contributed to program/policy development and fostered

interagency collaboration to leverage state and federal funding to deliver successful

housing projects across Virginia.

Jaynell is also an entrepreneur and for six years owned and operated a successful fast

casual restaurant in Downtown Richmond. She believes that it is this entrepreneurial

sensibility that informs her approach to housing development—balancing the needs of

community, fiscal discipline, and policy objectives with an innovative, solutions-oriented

mindset.

Jaynell holds a Master of Science degree in Urban & Regional Planning from Virginia

Commonwealth University and a Bachelor of Arts degree in Political Science from

Howard University.

Drew White

Moderator

Berkadia

Drew M. White serves as one of three Senior Managing Directors at Berkadia,

overseeing the Washington, D.C. Metro Area and the entire Mid-Atlantic Region since

joining the firm in January 2020. With over 30 years of experience in the multifamily

industry, Drew brings a wealth of expertise, deep industry relationships, and an

exceptional sales track record to his role. During his recent tenure, he and his team

have amassed a market share in Virginia of 49.6% for 2022-2024 and 68.6% in 2024.

This would include the largest transactions of the year in both Richmond and Hampton

Roads markets for several years in a row.

Before Berkadia, Drew was an Executive Managing Director at ARA Newmark, where

he specialized in institutional apartment transactions across the Mid-Atlantic Region. As

the lead broker on the majority of ARA Newmark’s listings in the Washington, D.C.

Metro Area, he played a pivotal role in the firm’s success. Drew joined ARA Newmark in

2015 through a company acquisition, having previously co-founded the ARA Mid-

Atlantic office in 2011. During his tenure, he facilitated over 150 sales in just five years,

including record-breaking transactions such as the highest price per square foot ever

achieved in Washington, D.C., and Richmond, VA. Notably, he led the $100 million

Williamsburg transaction, the largest apartment trade in Virginia’s history outside of

suburban Washington, D.C., and the highest price-per-unit deal in Hampton Roads at

$346,000 per unit.

Earlier in his career, Drew founded the Cushman & Wakefield Washington, D.C.

Multifamily Practice Group in 2001, where he spent a decade growing the office into a

dominant force across the Mid-Atlantic Region. Under his leadership, the group

expanded its reach and achieved top producer recognition, with Drew personally

ranking among the top 10 producers in the Mid-Atlantic in 2005 and 2006 and earning

the title of top producer in 2007. Prior to that, Drew worked in Atlanta with Cushman &

Wakefield and The Apartment Group, where he helped expand their presence across

the Southeast, completing the sale of more than 700 properties across 18 major

markets in 10 states.

Drew is also a sought-after speaker and educator. He has served as a guest professor

at the William & Mary Graduate School of Real Estate for three years and has been a

featured speaker at the NMHC Annual Meeting on four occasions. Additionally, he

frequently participates as a panelist and moderator for the Bisnow Conference Series,

sharing his expertise on topics such as Northeast D.C., emerging markets, and

multifamily trends in Baltimore and Richmond.

Outside of work, Drew enjoys coaching his children’s sports teams and pursuing

hobbies like golf, tennis, skiing, and biking. A passionate supporter of Operation Smile,

he has traveled with the organization to assist on three continents and served as the

keynote speaker at their annual fundraiser. Drew is also an active member of

Cornerstone Chapel in Leesburg, VA.

Reimagining Richmond: How Developers and Master Planned Communities are redefining Richmond

Learn about how adaptive reuse and up and coming mixed use projects are reshaping the urban and suburban landscape of Richmond.

Brandon Wright

Brandon Wright

Managing Director

Crescent Communities

Drew Harbrecht

Drew Harbrecht

Senior Vice President, Multifamily

Thalhimer

Natalie Mason

Natalie Mason

EVP, Development

Capital Square

David Hanchrow

David Hanchrow

CIO

Bristol Development

Craig Arnold

Craig Arnold

Vice President of Special Projects

W. M. Jordan Company

Tarra Chen
Moderator

Tarra Chen

Exchange Director

Legal 1031

Brandon Wright

Managing Director

Crescent Communities

Brandon Wright joined Crescent Communities’ Multifamily team in 2019 as Managing Director of the Washington, DC region. Brandon oversees development and investment supporting the company’s regional growth in the DC metro and the growing submarkets of Virginia and Maryland.

Prior to joining Crescent Communities, Brandon served in leadership roles with a variety of notable firms including Greystar, Alliance Residential, HFF, and The Bozzuto Group.

Brandon is an active member of ULI, DC Real Estate Group and a LEED Green Associate.

He earned his bachelor’s degree in History from Dartmouth College.

Drew Harbrecht

Senior Vice President, Multifamily

Thalhimer

Drew Harbrecht joined Cushman & Wakefield | Thalhimer in 2023 as Senior Vice President of Multifamily, bringing more than two decades of experience in property management, operations, and growth strategy. At Thalhimer Multifamily, he leads innovation across the portfolio by aligning expense optimization, new development strategy, and placemaking with a strong focus on enriching both team member and resident experiences.

Before Thalhimer, Drew was Senior Director with Greystar, responsible for nearly 10,000 units spanning Central Virginia and the DMV corridor. His earlier work with Kettler focused on expanding development and operational platforms across the eastern seaboard, providing him with deep experience in guiding multifamily growth through evolving markets.

Drew is an active member of the Urban Land Institute (ULI) and holds multiple accreditations with the Institute of Real Estate Management (IREM) and the National Apartment Association (NAA). He also serves the community through activities with St. Jude, the ASPCA, and various conservation organizations. He earned a B.A. in Management and Marketing from Radford University.

David Hanchrow

CIO

Bristol Development

David Hanchrow is Chief Investment Officer for Bristol. An 22-year veteran of the multi-family industry, Mr. Hanchrow oversees site selection and acquisition, as well as market and financial feasibility analysis.

He is also responsible for all asset dispositions and plays a key role in sourcing and structuring financing for new development projects. Previously, Mr. Hanchrow served as real estate development manager for Polar-BEK, a Birmingham, Alabama based development firm.

Mr Hanchrow held several positions at Polar-BEK over a period of nearly10 years and was involved in the development of more than 2,000 multi-family units.

He received a bachelor’s degree in business administration from the University of North Carolina at Chapel Hill.

Craig Arnold

Vice President of Special Projects

W. M. Jordan Company

Craig works with owners and design teams to develop a comprehensive understanding of complex project programs, delivery systems, and construction methodology, including lean construction. Since 2001, he has guided W. M. Jordan Company’s owners and design teams through the cost estimate and value analysis process, helping them to assemble the right team of material suppliers and trade partners for each project. Having worked on a variety of multifamily projects throughout Virginia and the Carolinas, Craig brings expertise in a variety of styles from student housing, senior living and luxury condominiums. With a portfolio of over $1.5 billion in projects over the last 15 years Craig is a wealth of knowledge in the market.

Craig is actively involved in the Associated General Contractors and holds a BS in civil engineering from Virginia Tech and is an ASHE-certified healthcare constructor.

Tarra Chen

Moderator

Legal 1031

Tarra Chen, Esq. is an Exchange Director at Legal 1031 Exchange Services, LLC, serving clients throughout the Mid-Atlantic region, including Maryland, Washington, D.C., and Virginia. She provides expert guidance and education on IRC §1031 tax-deferred exchanges to investors, attorneys, real estate professionals, and other advisors.

Tarra has dedicated her legal career to real estate, previously working with internationally recognized law firms on a wide range of complex transactions. Her experience includes zoning and title compliance, as well as the financing of multimillion-dollar real estate portfolios—giving her a comprehensive understanding of the legal and strategic considerations involved in 1031 exchanges.

An active member of the New York and Virginia Bar, Tarra brings professionalism, precision, and deep legal insight to every exchange. She earned her B.A., cum laude, from New York University and her J.D. from Brooklyn Law School.

Opening Remarks

Rex Smith, III

Rex Smith, III

Regional President

United Bank

Rex Smith, III

Regional President

United Bank

Mr. Smith currently serves as Regional President of United Bank in Southern Virginia.  Prior to United Bank’s acquisition of Essex Bank in 2021,Mr. Smith was the President and Chief Executive Officer of Essex Bank since September 2010. From April 2009 to August 2010, he served as the Bank’s Executive Vice President and Chief Administrative Officer. From 2007 to 2009, he was the Central Virginia President for Gateway Bank and Trust and, from 2000 to 2007, he was President and Chief Executive Officer of The Bank of Richmond.

Prior to that Mr. Smith held Executive positions at Guaranty Bank in Charlottesville Virginia and with Central Fidelity Bank in Richmond, Virginia.

He has a B.A. in Economics from the University of Virginia and a Masters of Business Administration from the University of Richmond where he was an Honors Member of Beta Gamma.

He is a published author on many banking topics such as; branch banking, transfer pricing methodologies and retail profitability analysis in the American Banker, ABA Marketing Journal and, the Community Banker. Mr. Smith formally served on the Boards of the March of Dimes and Children’s Hospital of Richmond. He is currently a Board member of Bankers Insurance, LLC.

Why You Can't Miss our First Richmond Conference of 2026

What You’ll Learn:

  • What are the factors driving multifamily investment and development in the greater Richmond region?

  • With rents on the rise, how is Richmond investing in affordable housing options? 

  • How can investments in affordable housing propel Richmond's future growth and development?

  • From the suburbs to downtown, where are multifamily developments occurring?

  • How Richmond’s project pipeline is faring and what some of the most exciting multifamily opportunities are? 

  • How Richmond is integrating mixed-use, adaptive re-use, and sustainability concepts into multifamily plans and designs?

  • What are the strategies and trends developers and owners are seeing in how they price and amenitize multifamily units to attract and retain residents? 

Why This Matters:

2025 was a year marked by economic uncertainty, and while active construction starts in Richmond are down 13.5% year over year, the fundamentals of the Richmond multifamily market remain strong. The vacancy rate has been trending down and stands at 9%, rent growth is steady and posted 1.6% growth YOY, population is rising at 1.1%, and unemployment remains one of the lowest in the country at 3.3%. Join Bisnow as we explore the market trends and development strategies that are defining Richmond’s multifamily boom and driving economic growth in the region. 


Richmond Multifamily in the News

For questions regarding our content, or speaking and sponsorship opportunities, please email our DMV Producer, Ian Wheeler, at ian.wheeler@bisnow.com. To request disability-related accommodations, please contact sabrina.cole@bisnow.com no later than 7 business days prior to the event.

Venue

Hilton Richmond Downtown
501 East Broad Street
Richmond, VA 23219

Ballroom: Miller Rhoads Gerhart Ballroom and Foyer


The hotel provides valet parking only on site, with in and out privileges, on a first come basis. Please note that this property is a historical renovation and has limited parking spaces available. The City of Richmond manages 3 parking lots adjacent to the hotel, which have self-serve kiosks. They are located at the intersections of Broad and 5th Street, Broad and 6th Street and Grace and 6th Street.

Get Directions

Agenda

Time Activity
1:00 PM
2:00 PM
Registration and Opening Networking
2:00 PM
2:45 PM
Building a Richmond for All: How affordability is impacting the growth and future of Richmond

Discover how Richmond is harnessing affordable and attainable housing to attract growth and economic development that will define the future of Richmond.

2:45 PM
3:00 PM
Quick Networking Break
3:00 PM
3:45 PM
Reimagining Richmond: How Developers and Master Planned Communities are redefining Richmond

Learn about how adaptive reuse and up and coming mixed use projects are reshaping the urban and suburban landscape of Richmond.

3:45 PM
3:15 PM
Closing Networking

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