People
David R. McCarthy, President
David R. McCarthy founded Heritage Housing, Inc. in 2017 and serves as its President. David has over eighteen years of experience in real estate development and acquisitions with a specialty in affordable housing. David developed or preserved over 1,000 units of affordable housing prior to founding Heritage Housing, Inc. and worked on projects that ranged from 10 to 400 units and from $3 million to $100 million. He is deeply familiar with 9% and 4% Low-Income Housing Tax Credits; tax-exempt bond financing; HUD Project-Based Section 8 programs and Section 236, Section 221(d)4, and Section 223(f) financing; public housing authority Project-Based Voucher and RAD programs; and HOME / state funding programs. He has worked on projects in Connecticut, New Jersey, Michigan, and West Virginia.
David was previously employed at Jonathan Rose Companies in Stamford, CT / New York, NY, a national developer and investor in affordable housing, for 8 years as a Senior Project Manager and Project Manager. Before that he worked at New Neighborhoods, Inc. in Stamford, CT, a not-for-profit Community Development Company, for 3 years as an Asset Management Associate.
Attached please find a resume of projects David has managed or is currently managing.
David is currently a member of the Connecticut General Assembly’s Senate Majority Leader’s Roundtable on Affordable Housing, a working group that is exploring ways to increase housing production in Connecticut. David is also a member of the Advisory Council of Homes With Hope, a Westport, CT-based not-for-profit organization that provides supportive housing.
Niall Farrell, DIRECTOR OF construction AND DESIGN
Niall Farrell joined Heritage Housing, Inc. in June 2019 as a Construction Manager. Originally from Ireland, Niall has over 15 years of experience in construction management. Prior to joining Heritage Housing, Niall managed construction projects ranging from remodels, additions, custom homes, and all phases of ground up construction for two homebuilders along the Connecticut coast. In addition to his expertise in residential construction, he had also been involved in many commercial renovations including large high-rise buildings and several bars and restaurants. Niall earned an honors degree in Business Studies & Marketing from the Institute of Technology, Sligo, Ireland and is also member of the Construction institute.
At Heritage Housing, Niall prepares the construction or renovation scope for new projects, manages the design team, procures the contractor, and manages the construction from bidding right through to completion. Since joining Heritage Housing, Niall has overseen the construction and design of over 1,000 units nationally including Connecticut, Pennsylvania, West Virgina, Kentucky, and Vermont. He has developed key partnerships and built positive rapport with architects, engineers, financial institutions, local officials, vendors, and partners while always maintaining costs and striving to bring projects in on time.
michael shaughnessy, senior accountant
Michael Shaughnessy joined Heritage Housing, Inc. in January 2022. Michael brought over 20 years of experience in budgeting and accounting at Sony Corporation of America. Prior to his time at Sony, Michael worked for four years in sales administration with Prescriptives, a division of the Estee Lauder Companies, and for four years in auditing with Ernst & Young. Michael holds a Bachelor of Business Administration degree in Public Accounting from Pace University and formerly held an active New York State license as a Certified Public Accountant.
At Heritage Housing, Michael manages the flow of financing for ongoing construction projects, gathering invoices from vendors, entering them into the funding draws for submission to funders, paying vendors from funds received, and tracking project budgets to actual performance. At project completion, Michael then coordinates the Cost Certification and 8609 processes between third-party preparers and the respective state agencies. In addition, Michael maintains the ledgers and monthly financial statements for Heritage Housing, Inc. and its affiliated companies as well as liaising with property management and third-party accounting firms on annual financial statement audits and tax returns.
Luke Zbroszczyk, Analyst
Luke Zbroszczyk joined Heritage Housing, as an intern through the Fairfield Center for Housing Opportunity in September, 2021 and became a full-time employee in June, 2022. Originally from Poland, Luke is a graduate of Western Connecticut State University with degrees in Mathematics and Economics. At Heritage Housing, Luke works closely with David to help evaluate potential investment opportunities, develop financing strategies, and manage predevelopment efforts on our pipeline.
During his tenure at Heritage Housing, Luke worked on the Consolidated Application for 4% LIHTCs and DOH HOME/HTF funding for the Oak Grove project in Norwalk and oversaw two successful applications for a total of $2.3 million in competitive grant funding from the Community Investment Fund. Luke also underwrote an offer and coordinated due diligence on the $54 million Fairfield County Portfolio acquisition/rehab project.
Prior to Heritage Housing, Luke supported the work of the New Milford Long Term Recovery Committee by contributing to its report on economic trends and their underlying factors, used to allocate state and federal economic recovery funds. Luke led the investigation into housing market trends and comparative performance of school districts in Connecticut.