Affordable housing industry veteran Beth Stohr is retiring in May after 25 years with U.S. Bank.
Through her work as managing director of U.S. Bancorp Community Development Corp.’s (USBCDC’s) affordable housing division, Stohr leads one of the nation’s top low-income housing tax credit (LIHTC) investors and has been a leading industry voice.
“It’s time,” Stohr says. “I have been in this role for 25 years. USBCDC has a lot of exciting plans ahead in terms of our own growth and the pending merger with Union Bank. So it felt like the right time for a fresh, long-term view.”
She joined USBCDC in 1997, becoming the division’s second employee. Now, there are more than 400 at USBCDC, which has made approximately $14 billion in LIHTC investments and currently has about $3.4 billion in affordable housing loans.
“We couldn’t have achieved that growth if U.S. Bank had not recognized the value of the mission of what we were doing as well as the value of the housing tax credit program itself,” she says.
Stohr, who began her career as a commercial real estate lender, says she will miss the industry and the many people who make affordable housing possible, including rallying whenever challenges surface. “I feel very fortunate to have found this industry and to have had the opportunity to play the role that I’ve played,” she says. “I’m very grateful.”
Over the years, she and the USBCDC have invested in affordable housing developments across the country. Memorable projects include the organization’s first project for formerly homeless residents, the 8 NW 8th development in the Richard L. Harris Building by Central City Concern in Portland, Oregon.
“Beth’s contributions to the affordable housing industry have gone far beyond the investments into the housing credit that she worked to shepherd. She’s been an invaluable contributor to the Affordable Housing Tax Credit Coalition (AHTCC) and other industry groups that work to advocate for and set the direction of the housing credit program,” says Emily Cadik, executive director of the coalition.
Stohr, a St. Louis resident, plans to take retirement “in increments,” connecting with people and finding ways to give back to the community.
In addition to her work at USBCDC and serving on the AHTCC board, she has been a member of Affordable Housing Finance’s Editorial Advisory Board. She is also a past president of the Affordable Housing Investors Council.
“I would like to see the industry continue to keep coalescing and speaking with one voice,” she says. “There are hurdles ahead, but this industry is nothing but nimble. I wish everyone continued success and resilience in building as much affordable housing as possible.”