Longtime NeighborWorks Capital Partner Tom Cruess Named New CEO of NeighborWorks New Horizons
NeighborWorks New Horizons (NWNH) of Connecticut named Tom Cruess as their new CEO. Before being elevated to President & CEO, Cruess was with NWNH for eight years, most recently as Director of Real Estate Development.
Outgoing President & CEO Seila Mosquera-Bruno served as the head of NWNH for 15 of her 22 years with the organization.
“We’ve worked with NWNH on 10 loans—probably at the top of number of loans per borrower we’ve done. We wish Seila the best in her next position and we look forward to continuing to work closely with Tom,” said Adam Coile, Senior Portfolio Manager, NeighborWorks Capital, who manages all of NWNH's loan.
Mosquera-Bruno was appointed Commissioner of the Department of Housing for the State of Connecticut.
“Having someone with an affordable home development background focused on affordable housing will be good for the state,” Coile said.
NeighborWorks Capital most recently renewed a $1.5 million line of credit with NWNH for two years. “NWNH is unique in that we’ve been able to create solutions for a variety of affordable real estate projects, from single family homes to large multifamily developments. Many lenders focus on one type of product,” Coile said.
NWNH is a nonprofit affordable housing provider that seeks to strengthen neighborhoods by developing quality, affordable homes and supporting community building initiatives throughout southern Connecticut. The organization currently operates and manages more than 665 apartments and single-family rentals, and serves more than 1,500 people annually through homes, rental/homeownership education, and resident services and programs in New Haven, Fairfield, and New London Counties.