Philadelphia—Lee John Felgar has been named the new president of Pennrose Management Company (PMC), the wholly owned subsidiary of Pennrose Properties, LLC. His new position entails overseeing the company’s professional management services for its more than 150 affordable, market rate and senior residential communities in seven states. He succeeds Robert Lampher, who is completing a six-year tenure.
“Lee has an impressive track record of leadership and value-added contributions, and we couldn’t be more pleased to welcome him to the Pennrose team,” said Mark H. Dambly, president of Pennrose Properties, LLC.
“His range and depth of experience will perfectly complement our expertise and offerings. We’re looking forward to his stewardship in helping to take the company to the next level.”
Felgar joins PMC after serving as president of Boston-based Preservation Housing Management, LLC, the housing operations company of Preservation of Affordable Housing, Inc. Before that, he held senior executive positions with Volunteers of America, as well as with the National Housing Partnership, Cardinal (now part of Equity Residential), and other conventional and affordable multifamily ownership, development and management companies across the country.
Felgar also has deep experience in organizational development and reorganization, and has held financial planning positions with Fortune 100 companies. Early in his career, Felgar served as first lieutenant in public policy for the United States Air Force.
“We continue to see a tremendous need for more workforce and affordable housing for families and seniors, and opportunities for conventional developments within our geographic area of operations and beyond,” said Richard K. Barnhart, chairman and CEO, Pennrose. “Our ongoing investment in our people and capacity building as both a development and management company has positioned Pennrose to prosper in what is a complex and dynamic business. With Lee’s capable leadership on the management side, we look forward to a great future.”