MATHEW M. WAMBUA was appointed Commissioner of the New York City Department of Housing Preservation and Development (HPD) by New York City Mayor Michael R. Bloomberg in late March, 2011. With a workforce of more than 2,000 employees and an annual budget of approximately $1 billion, HPD is the nation’s largest municipal housing agency, in charge of the development and preservation of affordable housing and the enforcement of the City’s Housing Maintenance Code. As the agency responsible for carrying out the Mayor’s New Housing Marketplace Plan (NHMP) to finance the creation or preservation of 165,000 units of housing affordable to low- , moderate- , and middle-income New Yorkers by the close of the 2014 fiscal year, HPD works with for-profit and not-for-profit developers, government partners, financial institutions, advocates, and community groups to develop and preserve roughly 15,000 housing units annually. HPD also manages the nation’s fourth largest Section 8 rent voucher program.
Prior to assuming the helm at HPD, Mr. Wambua had served as Executive Vice President of Real Estate and External Affairs for the New York City Housing Development Corporation (HDC), a position he held for three years. HDC is the most prolific multifamily bond issuing entity in the nation, and ranks among the largest affordable housing lenders nationally. HDC has issued more than $11 billion in tax-exempt and taxable bonds to finance the NHMP and has provided more than $1 billion in direct subsidies to increase long-term affordability. As HPD Commissioner, Mr. Wambua is Chair of the HDC Board of Directors. Additional current board memberships include the Brooklyn Bridge Park Development Corporation and the New York City Housing Partnership.
From November 2004 through February 2008, Mr. Wambua was Senior Policy Advisor for the New York City Deputy Mayor for Economic Development, Daniel Doctoroff, where he coordinated and oversaw a citywide portfolio of economic development agencies, boards and commissions.
Previously, Mr. Wambua held positions as the Vice President for Special Projects at the New York City Economic Development Corporation (EDC), and as a senior investment officer for General Electric Capital Commercial Real Estate.
Mr. Wambua earned a B.A. from the University of California at Berkeley and a Masters in Public Policy from Harvard University’s John F. Kennedy School of Government. He has taught real estate finance at NYU’s Graduate School of Public Service and managerial economics at the New School’s Graduate School of Public Policy. Mr. Wambua lives in The Bronx with his wife and two children.
Please visit www.nyc.gov/hpd for more information on HPD’s programs, opportunities and mission.