MURIEL BOWSER
MAYOR
April 3,
2024
The Honorable Phil Mendelson
Chairman
Council of
the Dis Columbia
John A. Wilson Building
1350 Pennsylvania Avenue, NW, Suite 504
Washington, DC 20004
Dear Chairman M endelson:
In accordance with section
2 of the Confirmation Act of 1978, effective March 3, 1979 (D.C. Law 2-
142; D.C. Official Code § 1-523.01), and pursuant to section 202 of the District of Columbia Housing
Finance Agency Act, effective March 3, 1979 (D.C. Law
2-135; D.C. Official Code § 42-2702.02), I
a
m pleased to nominate the following individual:
Ms. Carri Cowan
L
inden P lace, NE
Washington, DC 20002
(Ward 6)
for rea
as a member w i th experience in f inance of the Board of Directors of the District of
Columbia Housing Finance Agency, for a term to end June 28, 2026.
Enclosed, you will find biographical information detailing the experience of the above-m entioned
nominee, together with a proposed resolution to assist the Council during the confirmation process.
I would appreciate the Council’s earliest consideration of this nomination for confirmation. Please
do not hesitate to contact me, or Steven Walker, Director, Mayor’s Office of Talent and
Appointments, should the Council require additional information.
Sincerely,
Muriel B owser
Mayor 1
2
3 at the request
of the Mayor
4
5
6 A PROPOSED RESOLUTION
7
8
9
10 IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
11
12
13
14
15 To confirm the reappointment of Ms. Carri Cowan to the Housing Finance Agency Board of
16 Directors.
17
18 RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, that this
19 resolution may be cited as the "Board of Directors of the District of Columbia Housing Finance
20 Agency Carri Cowan Confirmation Resolution
of 2024".
21 Sec. 2. The Council of the District of Columbia confirms the reappointment of:
22
23 Ms. Carri Cowan
24 Linden Place,
NE
25 Washington, DC 20002
26 (Ward
6)
27
28 as a member with experience in finance of the Board of Directors of the District of Columbia
29 Housing Finance Agency, established
by section 202 of the District of Columbia Housing
30 Finance Agency Act, effective March 3, 1979 (D.C. Law 2-135; D.C. Official Code§ 42-
31 2702.02), for a term to end June 28, 2026.
32 Sec. 3. The Council of the District of Columbia shall transmit a copy of this resolution,
33 upon its adoption, to the nominee and to the Office of the Mayor.
34 Sec. 4. This resolution shall take effect immediately. CARRI COWAN
EXPERIENCE
2016 – Pre sent BRIGHT HORIZON VENTURES, LLC
Mitchellville, MD
Founder & Managing Member
•Develop and execute over $360M in real estate asset transactions, specializing in hospitality,
multi-family, and single -family residential projects
•Raise private funding for institutional grade investments including real estate assets and
privately held businesses
•Provide project management, financial modeling & analysis, and development management
services for small to mid-size developers
Selected Transactions
The JC Layne at Euclid and The JC Layne Georgia (Stabilized Fall 2022)
Development Consultant Responsible for development oversight and construction management of the renovation
of a $13M portfolio of 52 affordable units in the Columbia Heights and Brightwood
neighborhoods of the District of Columbia . Navigated Rental Housing Act of 1985
statute to successfully complete the Tenants Opportunity to Purchase Act process,
Voluntary Agreement Petition process and Services and Facilities Petition process.
Finance syndication included District of Colu mbia Department of Housing and
Community Development Housing Preservation Fund (thru Capital Impact Partners), and
traditional financing from Congressional Bank and City First Bank (construction loans)
and Amalgamated Bank and City First Bank (permanent loans).
Urban Village ( Delivery Fall 2025)
Development Consultant Responsible for the $153M redevelopment of 72 units of affordable housing into 294
units of affordable housing in the Columbia Heights neighborhood of Washington, DC .
Navigated Rental Housing Act of 1985 and partnered with tenants to exercise its Tenants
Opportunity to Purchase Act where tenants are now co-owners of this property. Finance
syndication includes traditional acquisition financing, LIHTC equity, gap financing and
construction to p ermanent financing.
The Pavilion at Lottsford (D elivery Spring 2026)
Sponsor
Development of a $300M new construction mixed -use project consisting of 800
residential units and 70,000 square feet of retail. Residential program consists of 30%
affordability at 80% AMI. Positioned to be the catalyst that creates Downtown Largo in
alignment with the Prince George’s County Blue Line Corridor E conomic Development
Initiative. Financing syndication to include public economic development incentives (TIF
and PILOT), traditional construction and permanent financing, sponsor equity and
institutional equity.
Homewood Suite by Hilton Largo (Stabilized Spring 2019)
Equity Investor Led an equity raise for $20M new construction 117 key extended stay hotel. Analyzed
Sponsor experience, investment feasibility, and financial projections to syndicate a group of sophisticated investors. Property consistently outperforms local and national
competitive sets in key metrics including occupancy and average daily rate (ADR).
Financing syndication included Prince George’s County Economic Development
Initiative Loan and traditional financing.
2009 – 2013 J.P. MORGAN New York, NY
Private Bank Investment Team - Associate
•Managed analyses for a $300M client portfolio book including investment modeling, performance reporting, asset allocation, depletion/spending rate, and risk-return optimization
•Provided investment recommendations in several diverse asset classes including publicly traded
securities such as stocks and bonds as well as private investments such as private equity and
private debt funds
EDUCATION
2013 – 2015 KELLOGG SCHOOL OF MANAGEMENT Evanston, IL
NORTHWESTERN UNIVERSITY
Master of Business Administration, Focus: Real Estate, Innovation & Entrepreneurship
•President - Black Management Association
•Hospitality Club, Entrepreneurship Club
•Dean’s Service Award
2005 – 2009 HOWARD UNIVERS ITY SCHOOL OF BUSINESS Washington, DC
Bachelor of Business Administration: Finance
•Magna Cum Laude
•Founders Scholarship Recipient
•Beta Gamma Sigma International Business Fraternity
•Delta Sigma Theta Sorority, Incorporated – Alpha Chapter
ORGANIZATIONS
•Prince George’s County Community Foundation – Emerging Leaders Impact Fund
•Delta Sigma Theta Sorority, Incorporated
•Girl Scouts of the USA – Gold Award Recipient
•African American Real Estate Professionals of DC Executive Office of the Mayor – Mayor’s Office of Talent and Appointments
John A. Wilson Building | 1350 Pennsylvania Avenue, Suite 600 | Washington, DC 20004
Carri Cowan
Carri Cowan is the founder and managing partner of Bright Horizons
Ventures, LLC.
Under Ms. Cowan’s leadership, Bright Horizons Ventures, LLC has
developed and executed over $360 million in real estate asset transactions
concentrated in hospitality and single- and multi-family residential
projects. Ms. Cowan has also worked as a development consultant on the
JC Layne at Euclid, the JC Layne Georgia, and Urban Village which led
to the renovation of over 300 affordable units in the Columbia Heights and
Brightwood neighborhoods combined. Prior to her current role, Ms.
Cowan was an associate with JP Morgan, where she provided investment recommendations in
several diverse asset classes.
A Ward 6 resident, Ms. Cowan received a Bachelor of Business Administration in Finance from
Howard University and a Master of Business Administration with a focus on Real Estate,
Innovation, and Entrepreneurship from Northwestern University. GOVERNMENT OF THE DISTRICT OF COLUMBIA
Executive Office of Mayor Muriel Bowser
Office of the General Counsel to the Mayor
______________________________________________________________________________
The John A. Wilson Building • 1350 Pennsylvania Avenue, NW • Suite 300 • Washington, D.C. 20004 • Office (202) 724-7681
To: Tomas Talamante, Steve Walker
From: Betsy Cavendish
Date: March 18, 2024
Subject: Legal sufficiency review of Resolutions nominating Heather Wellington (née
Howard) and Carri Cowan as members of the District of Columbia Housing
Finance Agency Board of Directors
This is to Certify that this office has reviewed the above- referenced resolutions and
found th em to be legally unobjectionable. If you have any questions in this regard, please do not
hesitate to call Erika Satterlee, Deputy General Counsel, Executive Office of the Mayor, at 202-
724-1303, or me at 202-724-7681.
______________________________
Elizabeth A. (Betsy) Cavendish