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.