Every now and again, we like to keep you informed about the other cities Bisnow covers. Yesterday in Boston, we met with the chairman of the Federal Reserve Bank there. While we root for Federal Reserve chairs in every city, we give a little extra hurrah to Kirk Sykes, since he comes from the commercial real estate community. (It'd be like a broker becoming manager of the Blue Jays. Whichever team you support, you'd wish him the best.)
A licensed architect, a developer, and fund manager, Kirk is prez of the $190M USA Fund, a division of the New Boston Fund. It's sponsored 15 development projects on the East Coast. These projects, and his work at the Fed, encourage middle-income household formation in cities by providing housing that average people can afford and places they can work. The tricky part: including the ownership options (for under $300k) that are essential to build stable communities. He says the Fed job has given him a chance to do public service and nudge the economy.
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