HOUSING FINANCE VETERAN MATTHEW GROSS JOINS

LETTIRE CONSTRUCTION AS DIRECTOR OF R.E. DEVELOPMENT

Leading green development and construction firm continues to expand  

New York, NY – August 29, 2012 – East Harlem-based Lettire Construction Corporation, one of the largest, premier builders and developers of sustainable housing in the New York region, has named Matthew Gross as its Director of Real Estate Development. The announcement was made by Nick Lettire, President and CEO of Lettire Construction Corp.

Mr. Gross’ responsibilities as Director of Real Estate Development at Lettire will include site identification and acquisitions, overseeing due diligence, and composing financial structures with investors and various public agencies involved in affordable and supportive housing development. He will also be involved in overall building planning, design, branding and marketing of projects, and general oversight of all Lettire developments.

“We are delighted to welcome Matt to our team,” said Nick Lettire. “We’ve had the pleasure of working with Matt in his role as a lender and have completed a number of successful projects with him. We are delighted by the relationships, reputation and skills he brings to Lettire as Director of Development, and we know he will play an important role in our company’s expansion as we continue to develop vibrant communities throughout the New York market.”

Prior to joining the Lettire team, Mr. Gross was a Vice President at Citi Community Capital, where he was responsible for underwriting, structuring and closing $400 million of debt to finance the new construction and rehabilitation of 1,500 units of affordable multifamily housing. Prior to that, he served at The Richman Group, one of the top ten largest apartment owners in the country, where he syndicated over $500 million of Low Income Housing Tax Credit (LIHTC) equity and provided financing to construct over 4,500 units throughout the five boroughs and metro New York area. In addition to working with LIHTC equity and construction debt, Mr. Gross also financed a number of projects throughout his career involving Historic, Brownfield and New Markets Tax Credits, as well as various HUD programs.

Mr. Gross serves on the Young Leaders Committee of the New York State Association For Affordable Housing (NYSAFAH) and is active with the Supportive Housing Network of New York (SHNNY). He holds a B.S. in Finance from NYU’s Stern School of Business and a M.S. in Real Estate Development from Columbia University.

###

About Lettire Construction Corporation:

Lettire Construction Corporation, headed by brothers Nicholas and Gerard Lettire, is one of the largest, premier builders and developers of green affordable and supportive housing in the region. Headquartered in East Harlem since 1980, the company’s founders are actively participating in the economic rebuilding of the City, and creating local jobs in the communities where the firm is active. By working closely with government agencies, development partners and neighborhood leaders and coalitions, Lettire has been able to further its mission, and dramatically increase the supply of high quality affordable and supportive housing in the New York area.