Karen Kelleher Email & Phone Number

BlueHub Capital is a mission-driven, nonprofit community development finance organization focused on building healthy communities where low-income people live and work. BlueHub uses innovative financial tools to support projects that make communities more vibrant places to live. I lead new business development, loan originations, credit quality, portfolio management, measuring and communicating impact, financial self-sufficiency, innovative loan products and programs, partnerships and capitalization.Since 1985, BlueHub Capital has invested over $2.6 billion — and leveraged over $13.6 billion — to connect people and communities with resources and capital. BlueHub Loan Fund has financed more than 31,300 units of affordable housing, 8.4 million square feet of commercial real estate and community facilities, and financed the construction of school buildings for 77,000 students. The substantial majority of projects funded by BlueHub Loan Fund are led by people of color and/or women. Historically, almost all of BlueHub Loan Fund’s lending is in low-income communities.

Massachusetts

Led Local Initiative Support Corporation (LISC) work assisting community development corporations (CDCs) and other public and private entities working to create and sustain healthy communities in Massachusetts. Co-founded the Coalition for an Equitable Economy and co-led statewide coalition that helped M/W/DBEs access more than $200 million in relief grants. Launched LISC Digital Growth Accelerator and LISC Massachusetts Small Business Growth Fund. Led program management of Small Business Strong, and supported LISC staff to launch Bridge to Green Jobs program, LISC provides financing, training, technical assistance and policy support to local partners to promote real estate development, housing affordability, economic development, and community health and wellness.

Greater Boston Area

Chief business officer of self-supporting quasi-public housing finance agency. Led more than $1.3 billion of annual lending activity, including record multifamily volume resulting in preservation of more than 10,000 affordable homes over 2 years. Implemented $100 million Workforce Housing Program to stimulate construction of 1,000 units affordable to middle income borrowers and created statewide down payment assistance program for first time homebuyers. Led a comprehensive, customer-focused reinvention, including reorganization, standards for exceeding customer expectations, new risk-based asset management protocols, technology updates, and policy alignment. Leader of industry advisory committees appointed by the Governor, including co-management of impactful mission-driven projects.

Massachusetts

Chief legal officer of innovative housing finance agency that provides financing for the construction and preservation of affordable rental housing, and for affordable first and second mortgages for homebuyers and homeowners.

Boston, Ma

Senior manager and chief legal officer of national, nonprofit organization that builds, owns and manages sustainable affordable and mixed income communities. Led policy engagement and in-house legal department. One of five SVPs participating in leadership team responsible for all strategy, business and operations in 14 states and the District of Columbia.

Structured, negotiated and closed complex affordable and mixed income housing transactions involving federal and state low income housing tax credits, historic tax credits, tax-exempt bonds, public housing capital and operating subsidy, HOPE VI grant funds, HOME, CDBG and AHP, Section 8 and other state and local programs.

Boston, Ma

Represented clients developing, syndicating and financing affordable housing, including structuring, negotiation and drafting of LIHTC partnership agreements and collateral documents, due diligence review, and preparation of tax opinions. Advised owners and developers regarding rent and income limits, conditions of federal funding, and other regulatory matters relating to affordable housing finance.

Washington Dc

Program counsel for Community Planning & Development programs, including CDBG, Section 108, Economic Development Initiative, HOME and HOPE 3.

Boston, Ma

5th and 6th grade teacher at start-up school for low-income boys from Boston's inner city neighborhoods.

J.D.

Bachelor Of Arts (B.A.), Political Science

Education record

Bachelor Of Arts - Ba