MHN Executive of the Year: Ken Lombard
BRIDGE Housing’s CEO is dedicated to making a difference by advancing affordable housing nationwide.
Under President & CEO Ken Lombard’s leadership, BRIDGE Housing Corp. expanded its affordable housing portfolio by more than 15,000 units in 2024, growing assets to more than $4 billion, despite an unpredictable market. With his knowledge of the private sector, Lombard has crafted a leadership team to further his mission of financing and developing affordable housing.
His achievements include completing 10 projects, breaking ground on seven and acquiring three market-rate properties for conversion to affordable housing across California, Oregon and Washington. These accomplishments earned him recognition as MHN’s 2025 Executive of the Year.
“Ken is a natural leader who sets a high bar for himself, his team and the many partners he collaborates with,” noted Mary Leslie, president of the Los Angeles Business Council.
Putting people first
Lombard gained experience with people from all walks of life when he worked at his grandfather’s dry-cleaning business as a child. That instilled a philosophy that he’s carried throughout his career: Everyone deserves a high level of service and respect.
He later found his niche in urban development and markets, which gave him an opportunity to serve the needs of residents in those settings. Lombard started his career in market-rate communities before he transitioned to affordable housing at BRIDGE in 2021.
He had a long record of leadership in urban investment and development when he stepped into his current role. For 12 years, he served as president & partner at Johnson Development Corp., the investment firm founded by Earvin “Magic” Johnson, the basketball great and entrepreneur. As the co-managing partner of the Canyon-Johnson Urban Funds, he negotiated partnerships that helped create entertainment and retail properties in 17 states and more than 65 cities.
Very few people get the opportunity to have a career where you can make a difference. For me, I’ve had that opportunity to participate in solving the crisis of a lack of affordable housing.
—Ken Lombard, President & CEO, Bridge Housing
Other former senior positions include president of MacFarlane Partners, which acquires, develops and manages assets for pension funds and other institutional investors. At Capri Capital Partners, he was vice chairman & head of investments and led the Capri Urban Fund, which invested upward of $1 billion in major markets. Lombard joined BRIDGE from Seritage Growth Properties, where he was the REIT’s special adviser and had previously served as executive vice president & COO.
The shift from market-rate to affordable required a lot of discipline and commitment to execution. Additionally, Lombard cited the importance of being determined to provide residents with housing and other opportunities they didn’t have access to before.
“Regardless of whether he’s working in the public or private sector or leading a nonprofit organization, he consistently puts the needs of residents in historically overlooked communities first,” said Leslie.
While the company has posted impressive growth in recent years—11 percent in 2024 and 9 percent in 2025—Lombard doesn’t view success solely in terms of profits. His team also measures progress by the number of people BRIDGE houses.
“Our commitment starts with our mission to provide quality, affordable housing to the communities we serve,” Lombard noted. “We start there and try to find real estate projects that will meet the criteria. We don’t assume that success can maintain itself if we don’t keep that same discipline.”
Evolving strategy
BRIDGE’s growth over the past two years has been driven in part by a shift in business strategy. Amid high interest rates and other challenges, ground-up development, BRIDGE’s specialty, became difficult. Lombard responded by building the company’s portfolio through acquisitions and conversions with capital from the BRIDGE Housing Impact Fund.
His visionary leadership and the work of our incredible team have positioned BRIDGE for long-term growth that will extend our impact throughout the West Coast as we address the housing affordability crisis.
—Kenneth Novack, Chairman, BRIDGE Housing Board of Directors
A shift in mindset was also required. “I wanted to make sure that we got back to the culture of BRIDGE as it was meant to be,” Lombard reflected. “There were some old traditions and systems that didn’t align with our new approach to sustainability. I had to provide leadership and guidance on expanding our strategy beyond ground-up development.”
This path is laid out in the company’s 2024–27 strategic plan. BRIDGE started in 2024 by acquiring 682 apartments across three communities, including market-rate units that were converted to affordable. Two years later, the company is on track to meet its four-year goal of adding 5,100 affordable units through acquisition by 2027. In addition to 8,295 units under development, the company has 1,848 units in its acquisition pipeline.
An active fundraising program is advancing the growth initiative. BRIDGE exceeded its $150 million target for its second round of bond financing, raising $175 million in October 2025. Lombard also highlighted the organization’s ongoing relationships with Morgan Stanley and multiple other banks, which support debt financing and other capital needs. As a $4 billion nonprofit, the organization operates with the same competitive discipline as a for-profit company, he shared.
“Under Ken’s steadfast leadership, BRIDGE Housing is one of AvalonBay’s preferred affordable housing partners,” said Benjamin Schall, AvalonBay Communities’ president & CEO. “It’s been exciting to see Ken put his imprint on the organization, from the BRIDGE team to expanding the organization’s capital sources to delivering high-quality affordable housing across the West Coast.”
Preparation and discipline
Throughout his career, Lombard has focused his leadership philosophy on discipline, preparation and astute judgement. He goes back to the lesson he learned in childhood: Roll up your sleeves and do the hard work that gets the job done.
I’ve known Ken as a colleague, a board member and now as a partner. In each of those settings, Ken has displayed the unique and powerful balance of being very thoughtful and strategic, while also being action-oriented and results-driven.
—Benjamin Schall, President & CEO, AvalonBay Communities
The most important thing I’ve learned is how much discipline it actually takes to put together a successful project,” he said. “You must have the discipline and commitment to walk away when the deals don’t make it.”
Weighing the risks of a project while also meeting BRIDGE’s underwriting standards is central to Lombard’s approach. He pointed to such criteria as cash flow, property quality, occupancy levels and a resident base capable of making payments. Prioritizing relationships with other agencies that are involved in projects is yet another important aspect of the process.
“Someone once told me, ‘Preparation prevents poor performance,’” Lombard recalled. “I don’t assume anything, so when I’m walking into anything I try and make sure I’m making the time to prepare.”
Preparation and discipline also help Lombard determine when a project is worth walking away from and when it’s worth staying committed. Jordan Downs—a public housing project nearing completion in Los Angeles’ Watts neighborhood—represents this balance. The community is taking shape on a 21-acre site and is part of a $1 billion redevelopment that’s bringing 1,400 units, community spaces, retail and parks to the area.
In January, BRIDGE held the grand opening for its latest project at Jordan Downs. Part of the development’s third phrase, Cypress View is a 119-unit community with 107 affordable residences. The community also offers the Building Bridges Program, a partnership with Harbor Freight Tools, which offers students at the development an opportunity to strengthen skills in various trades including carpentry, plumbing, welding and more.
The company worked with the Housing Authority of the City of Los Angeles to develop a mixed-income master-planned community. Lombard enjoys seeing the transformation of the site as well as the efforts of the community as the development progresses. It reflects his principle of giving back to communities and offering them something new.
