DAYTON — A Dayton nonprofit developer of affordable housing announced Friday succession plans for a new president and chief executive officer.
Tim Bete will become the top leader January 2014 of St. Mary Development Corp., 2160 E. Fifth St. He’s worked at St. Mary seven years, currently as executive vice president.
Founders Richard McBride and Sister Rose Wildenhaus will retire, but serve as consultants to the faith-based organization, Bete said.
Since St. Mary was founded in 1989, it has built 2,900 affordable houses and apartments, and prevented more than 1,800 foreclosures with counseling, according to the nonprofit.
The biggest cause of homelessness in Dayton is the lack of affordable housing, Bete said.
Affordable housing is considered housing that doesn’t cost more than 30 percent of a person’s income.
“Being a leader is not particularly important to me. What’s important to me is that we have all these people who don’t have a safe, decent place to live,” he said.
St. Mary Development conducts real estate development, real estate management and home health care. Its program HomeOwnership Center of Greater Dayton provides foreclosure prevention and first-time home buyer counseling. Operating expenses last year were more than $3 million, Bete said.
“We have been looking for some time ... knowing that Dick McBride and Sister Rose were getting to retirement age and so we felt as though it was important ... that we find the right person to lead us on with our mission of affordable housing in the Dayton community,” said the Rev. Harvey Smith, chair of the board of trustees. “He has the passion for helping people. Second of all, he has training ... We are a considerably larger organization than when we first started.”
Construction begins this fall on an approximately $8.3 million, three-story senior living building by St. Mary. Lyons Place II will be a 55-unit building on the Dayton VA Medical Center campus with a preference for military veterans.