ULI Names First Female Chair

LOS ANGELES—The Urban Land Institute has named Charmaine Atherton, an SVP at Bank of America Merrill Lynch as chair of the advisory board. Atherton is the first female chair of the ULI board. She will serve a two-year term.

“Community development banking is such an essential part of boosting affordable housing and I am eager to work with the Urban Land Institute to increase engagement among local developers and financers to truly make an impact in our surrounding community,” Atherton tells GlobeSt.com. “The housing crisis continues to be an important issue that must be addressed head-on and I am honored to be working with ULI Los Angeles to continue to support underserved communities and strengthen our neighborhoods.”

Atherton has 34 years of experience in the commercial real estate industry, with a special focus investing in low- to moderate-income communities. Her past projects include YWCA Job Corps Urban Campus, the Chinatown Metro Senior Lofts, the MacArthur Park Family Apartments and the Downtown Women's Center.

During her term as chair, she plans to focus on the affordable housing crisis in Southern California. “As chair, I am fully committed to an improved focus on Southern California's housing crisis, and one of my main goals is a strong emphasis through ULI Los Angeles' efforts on affordable housing projects that will benefit low-to moderate income families, veterans, at-risk youth, seniors and the formerly homeless,” she says. “Increasing the supply of housing locally will create a ripple effect that will inevitably impact the larger community by supporting small businesses and promoting economic development.”

At a recent ULI breakfast, experts discussed the affordability crisis in Southern California. While there was a debate about whether urban sprawl would help or harm affordability, both sides agreed that Los Angeles is in need of more multifamily development.