Our Work
Building affordable futures. At Homes & Hope, we are more than developers; we are architects of opportunity, crafting vibrant communities where everyone has a place to call home. Our passion drives us to create affordable housing solutions that make a lasting impact.
Mission: Homes & Hope is a dedicated team of affordable housing leaders, driven by a singular mission: to provide affordable, safe, and welcoming homes for all. With decades of experience and a deep-rooted commitment to social change, we empower communities, one home at a time.
Approach: Homes & Hope is a mission-driven affordable housing developer led by highly skilled affordable housing professionals with nearly 20 years of industry experience. The organization aims to balance the nonprofit affordable housing model's positive aspects with the efficiency, market responsiveness, and innovation of a market-rate developer.
Cost Efficiency & Innovation: Homes & Hope employs a lean but well-capitalized framework and emphasizes innovation and efficiency, particularly given its capacity for in-house general contracting and construction management. This approach helps reduce overall building costs and maximizes limited public resources.
Partnerships & Targeted Housing Opportunities: The organization collaborates with local nonprofits on its developments and adheres to government funding regulations and fee caps. Homes & Hope focuses on providing a full spectrum of affordable housing opportunities, including permanent supportive housing, housing for seniors, veterans, and other special needs populations. Homes & Hope also addresses the gap in the continuum of housing by offering workforce/moderate-income rental housing and low/moderate-income for-sale housing.
Synergistic Relationship with McCarthy Companies: Affiliated with McCarthy Companies (over 40 years of experience developing and building both market-rate and affordable communities), we share resources, ensuring efficient project management and innovative solutions.
Maximizing Expertise & Funding: Our team has successfully secured hundreds of millions of dollars in private, local, state, and federal financing for affordable housing and is CTCAC-certified for maximum General Partner experience points, including the Special Needs set-aside.
Leadership Team
Alexander Russell
Chief Executive Officer
Alexander Russell is an industry expert and leader in the field of affordable housing and community development. He is the founding CEO of Homes & Hope, a premier affordable housing builder that focuses on the full spectrum of affordable housing opportunities. As the former Executive Vice President and Chief Operating Officer at Many Mansions (a southern California-based nonprofit affordable housing builder, property manager, and services provider) for over 17.5 years, Alex worked on 15+ affordable housing developments totaling over 1,000 units. He has utilized innovative construction techniques (e.g. volumetric modular) and successfully secured over $400 million in private, local, state, and federal financing for affordable housing. He has also directly overseen every aspect of the affordable housing business, including finance and administration, government relations, asset management, property management, business development, and most extensively, real estate development.
In his current role as CEO at Homes & Hope, Alexander Russell oversees all aspects of the organization's operations, ensuring compliance with legal and contractual obligations, while acting as the primary spokesperson for the company. He also plays a pivotal role in real estate development and business development. With a strong track record of leadership and a passion for creating sustainable, affordable housing solutions, Alexander continues to make a significant impact in the field, working tirelessly to provide safe and affordable housing for those in need.
Luis A. Hernandez
Director of Affordable Housing Development
Luis currently serves as the Director of Affordable Housing Development at Homes & Hope. In this role, he is responsible for overseeing all aspects of the organization's real estate activities, including the development of new affordable housing projects, affordable housing consulting, business development, and community and public relations. Before joining Homes & Hope, Luis worked as a Senior Project Manager at Many Mansions, where he was involved in every stage of housing development, from initial concept and predevelopment to securing financing, managing construction, and overseeing the transition to operations. One of his significant accomplishments was Central Terrace Apartments, an 87-unit AHSC-funded multifamily housing complex in Downtown Oxnard. Concurrently, he also managed it’s sister project, Aspire Apartments, which is set to provide an additional 88 residential units as well as a public pocket park.
Prior to joining Many Mansions, Luis was a Licensed Real Estate Professional, helping first-time, low- and moderate-income homebuyers achieve homeownership, before briefly working for a General Contractor. In his role as Director of Affordable Housing Development for Homes & Hope, he is passionate about creating sustainable and affordable housing solutions that empower communities and change lives.
Rodney “Rod” Thompson Jr.
Director of Affordable Housing
Rod brings eight years of valuable experience to the Homes & Hope team. With a career dedicated to the affordable housing sector, Rod has become a prominent figure in the industry, known for his strategic vision, financial acumen, and impactful project management skills. Currently serving as the Director of Affordable Housing Finance at Homes & Hope, Rod leads all aspects of the organization's affordable housing initiatives. In this key role, he oversees the development of new affordable housing projects, provides expert consulting services, and spearheads business development efforts. As a vital member of the senior management team, Rod plays a pivotal role in shaping the strategic direction of Homes & Hope, ensuring the successful implementation of affordable housing solutions.
Rod's passion for affordable housing is reflected in his diverse professional background. He has successfully managed numerous projects from conception to completion, demonstrating a deep understanding of financial feasibility, funding applications, and construction oversight. His expertise encompasses navigating various funding programs, including project-based Section 8, VASH, AHP, HOME, HHH, VHHP, MHP, NPLH, and both 4% and 9% Low-Income Housing Tax Credits. Rod's proficiency in these areas has resulted in the realization of multiple affordable housing initiatives, positively impacting communities, and improving housing accessibility for those in need.
Homes & Hope benefits from the invaluable support of the three Partners of the McCarthy Companies, whose expertise, resources, and dedication strengthen organizational efforts. Furthermore, Homes & Hope enjoys comprehensive support from the entire back-office team at the McCarthy Companies, encompassing functions such as finance, HR, IT, administration, construction management, and real estate project management. This collaborative and multifaceted approach ensures that Homes & Hope can effectively address the challenges of affordable housing while maximizing its resources and expertise.
