Rick Gropper, Development Director at L&M Development Partners Inc., is responsible for sourcing and structuring preservation and new construction transactions. Rick has grown L&M’s preservation business exponentially over the past 5 years with the acquisition and rehabilitation of nearly 5,000 totaling $1.2 billion in development cost. He has led the physical and financial repositioning of several large distressed Mitchell Lama housing projects and most recently completed the acquisition of a 900 unit project based Section 8 portfolio in partnership with the New York City Housing Authority. Rick also spearheaded the acquisition, recapitalization and rehabilitation of the 1,100 unit complex known as Arverne View in Rockaway, Queens in wake of Hurricane Sandy. Prior to joining L&M, Rick worked for a boutique adaptive reuse development firm based in New Haven, CT. He has an undergraduate degree from Connecticut College and an MS in Real Estate Development from Columbia University. Rick serves on the boards of New Yorkers for Parks, NYSAFAH 2G and the CHPC Strategic Impact Fund.
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