Mayor Michael Bloomberg has named Mathew Wambua, the commissioner of the Department of Housing Preservation and Development, replacing Rafael Cestero effective April 4. As previously reported by The Real Deal, Cestero is vacating his role after five years of public service to pursue a position with L+M Development Partners. “We’re two-thirds of the way through completing the most ambitious affordable housing plan underway anywhere in the nation, and Mat’s leadership, intelligence and financial acumen will help us meet our goals,” Bloomberg said in a statement.
Wambua has been part of the Bloomberg Administration since 2002, most recently serving as the executive vice president of the city’s Housing Development Corporation, a finance arm of HPD, where he oversaw the financing of more than 36,000 affordable housing units. Wambua previously worked at GE Capital Commercial Real Estate.
Among the HPD’s biggest projects is the Hunter’s Point South development plan unveiled in February. The waterfront complex is slated to include 900 housing units (75 percent of which are designated for low- and middle-income families), 20,000 square feet of retail space, a 1,100 seat school and five acres of waterfront parkland. TRD