J.P. Morgan Names Head of Community Development Banking
Industry veteran Karen Purcell has been appointed head of community development banking at J.P. Morgan.
Beginning in January, she will lead a team that provides financing for the creation and preservation of affordable and workforce housing, Community Development Financial Institutions, and tax credit equity investments. Since the start of 2025, J.P. Morgan’s community development banking team has extended more than $3 billion in debt financing, which is expected to create or preserve over 15,000 affordable housing units.
“An affordable and resilient housing market is essential to drive economic growth and opportunity,” said Michelle Herrick, head of commercial real estate at J.P. Morgan. “Karen is an industry veteran who will deliver tremendous value to our clients and help the firm further our commitment to communities across the country.”
Purcell brings more than 25 years of commercial real estate banking experience, spanning sales, credit, tax credit investment, asset management, strategic planning, and community development. Most recently, she led the community development banking originations and asset management teams at Bank of America.
BRIDGE Housing Appoints COO and General Counsel
Lisa Laffer will join BRIDGE Housing, a leading nonprofit affordable housing developer, owner, and manager, as chief operating officer and general counsel at the beginning of the new year.
She will serve as a key member of BRIDGE’s senior leadership team, where she will further strengthen the organization’s operations, lead its legal and compliance functions, and support BRIDGE’s next phase of growth as it continues to expand its impact across the West Coast.
Laffer joins the organization from Regent Properties, where she served as principal, general counsel, and chief compliance officer.
Founded in 1983, BRIDGE Housing has participated in the creation of more than 23,000 affordable homes in California, Oregon, and Washington, with a total development cost of $6 billion. Its current $4.6 billion portfolio totals 15,000 apartments that are home to more than 33,000 residents, with more than 10,000 additional units in the development and acquisition pipelines.
NEF Promotes Decker
Lisa Decker has been elevated to senior vice president, capital strategy, at the National Equity Fund (NEF), joining the organization’s senior leadership team.
She will oversee NEF’s multi-investor fund strategy, capital raising and execution, as well as manage the growth of the investor base across various product lines and initiatives.
Decker joined NEF in 2010 and has played a pivotal role in expanding the organization’s investor base and broadening the reach of its products through her work with the California and Homestead regional funds and investors, proprietary fund relationships, the NEF Housing & Health Initiative, the inaugural NeighborWorks Fund, Opportunity Zones, and solar credits.
Decker began her low-income housing tax credit career in 2004 with Homestead Capital, where she served as senior vice president of investor relations. Prior to that, she was an associate consultant at an investment consulting firm, working with institutional investors, and earning her Chartered Financial Analyst designation. Decker is based out of NEF’s Portland office.
VOA-GNY Names SVP of Real Estate
Simon Kawitzky has joined the leadership team at Volunteers of America-Greater New York (VOA-GNY) as senior vice president of real estate. He will oversee the organization’s housing development, asset management, and facilities maintenance functions.
He will be instrumental as VOA-GNY expands its pipeline of affordable housing and temporary shelter projects. The organization anticipates leveraging $550 million in public and private investment to develop 1,000 affordable homes in the next five years.
Bringing more than 15 years of experience across the public and private sectors, Kawitzky recently served as vice president at the New York City Housing Authority, where he was responsible for advancing comprehensive rehabilitation and rebuilding projects under the Permanent Affordability Commitment Together program. Previously, he was an assistant commissioner at the New York City Department of Housing Preservation and Development, where he directed comprehensive neighborhood housing plans and redevelopment projects.
VOA-GNY delivers services to more than 35,000 adults and children annually. It is also the largest provider of residential services for veterans within a coalition that has virtually ended chronic homelessness for veterans in New York City.