Weatogue, Conn.—Steve Erie, managing director, principal & co-founder of Vesta Corp., is retiring after 35 years of activity.
Vesta Corp. was founded in 1981 by Erie and his partner, Arthur Greenblatt, and is specialized in the creation and operation of affordable housing communities. Greenblatt will remain president & CEO of the company.
The organization delivered over $1 billion in financing for the development of more than 20,000 apartment homes in 12 states and currently owns or operates roughly 40 affordable housing communities in Connecticut, New Jersey, Ohio, Texas and the District of Columbia, encompassing over 7,100 units. The company went through a growth period in the past five years, nearly doubling the number of communities under management.
“Steve’s decision to retire will bring to a close a remarkable 35-year career of creating affordable housing that is responsive to the needs of investors, residents, and the market. His impact on our organization and the affordable housing industry as a whole is a legacy of which he can be extremely proud,” said Chuck Moran, executive vice president of Vesta, in a prepared statement.
Image courtesy of Vesta Corp.