We combine financial reliability with forward-thinking design and programming to develop best-in-class affordable housing throughout the United States.

forward-thinking DEVELOPMENT


Impact Residential Development is funded by the private family office of Barry Sternlicht, the CEO and founder of Starwood Capital Group. Founded in 1991, Starwood is a global investment leader in real estate, with offices in more than 20 countries and over $125 billion of assets under management.

Under Mr. Sternlicht’s leadership, Starwood has made a long-term commitment to investing in the affordable housing sector, with more than 47,000 affordable units currently owned and operated across 246 communities in 24 states. According to Affordable Housing Finance, Starwood was the second largest owner of affordable housing in the country through year-end 2021. Starwood’s in-house property management firm, Highmark Residential, manages the majority of this portfolio and will provide third party operational and compliance expertise for Impact.

Impact Residential was formed to further Mr. Sternlicht’s mission to help solve the nation’s affordable housing crises by providing high quality new supply, where and for whom it is needed most. In building a purpose-built team of experts in multifamily design, construction, and tax credit financing, he has committed to developing a nationwide, long term portfolio from the ground up. Impact is truly a mission-driven enterprise, with a commitment from Mr. Sternlicht to contribute a portion of all project development fees toward his private charitable foundation.


With an average of 22 years of experience in the industry, our three development executives are supported further by a dedicated team with careers focused on affordable housing and finance.

Alex Waterbury

Chief Executive Officer

Jessica Mullins


Kevin Fitzpatrick

Director of Development

Logan Kieweg

Director of Development

Mark Stewart

Director of Accounting


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Primary Regions

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Target Markets

Impact has assembled a geographically diverse land portfolio supporting over 1,200 affordable units in nine states, with many other ground-up development opportunities in the pipeline. The map below provides additional detail on each of our active communities currently in planning and development.

east vue ranch building


The Impact team understands the value of building long-lasting financial partnerships. In addition to our valued equity and debt relationships, we have formed several creative co-developer structures that bring together complimentary resources and expertise. Whether you are a non-profit with existing affordable housing expertise, a land owner in the market for a solutions-oriented buyer, or a mixed-income housing developer interested in a long-term joint venture, we welcome the chance to explore any number of partnership opportunities.



housing units








multifamily units


assets across

the country