Rancho Cucamonga, CA – National CORE, the nation’s third largest nonprofit developer of affordable housing, has named Courtney Richard as its Senior Vice President of Property Management, the top leadership post in the company’s largest department.

National CORE is a vertically integrated affordable housing developer, with teams that directly handle construction, property management and resident services. The Rancho Cucamonga-based company owns and operates more than 100 communities in California, Florida and Texas serving nearly 30,000 residents.

Richard, who joined National CORE in 2012, has a record of exceptional leadership and innovation as well as a passion for community development. As Vice President of Property Management, she pioneered new business lines and elevated standards across the division.

“Courtey’s new role heralds a new chapter of growth and opportunity for National CORE,” National CORE President Mike Ruane said. “Her ability to effectively manage the complex world of property management is unmatched. It’s a key ingredient in our mission to tackle the nation’s housing crisis and provide our residents with the tools to create a more prosperous future for their families.”

Richard succeeds Senior Vice President Dan Lorraine, who retired after guiding National CORE during a period of unprecedented growth over the last decade.

“The seamless handoff from Dan to Courtney speaks directly to the strength of our focus for cultivating leaders from within, like Courtney, across the organization,” said Robert Diaz, National CORE’s executive vice president. “Courtney was not only prepared to pick up the reins, but to guide the department in meeting current challenges and pursuing exciting new opportunities. She understands this business intimately at all levels and is a consummate property management professional.”

Richard’s immediate focus will be on ensuring National CORE is prepared for an acceleration in new properties to manage. The company, which operates about 10,000 apartments, plans to open an estimated 2,500 new apartments in the next three years.

“I am honored by the support of my colleagues as we take the next step toward serving our residents and pursuing our mission to deliver critically needed, high-quality affordable housing that serves vulnerable populations today and tomorrow,” Richard said.

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About National CORE

National CORE is one of the largest nonprofit developers in the nation, with a 30-year history of being an innovator in the field. In 2021, National CORE became one of only two affordable housing developers to earn an A+ credit rating from Standard & Poor’s Global Ratings. In 2022, National CORE issued $100 million in Series 2022 Social Bonds to accelerate the development of critically needed affordable housing. Serving more than 25,000 residents, National CORE strives to be a launching pad, not a landing pad, for families struggling financially. In 1998, National CORE created the Hope through Housing Foundation, a philanthropic nonprofit, whose mission is to end the cycle of generational poverty through resident services that promote educational attainment, economic mobility, and overall well-being.