Dr. Michael C. Threatt plans to implement his "Housing Authority of the Future" model at the Sanford Housing Authority by Increasing Affordable Housing Options

SANFORD, NC, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- After a six-month nationwide search, the Sanford Housing Authority (SHA) is excited to announce Dr. Michael C. Threatt as its new leader and CEO. Dr. Threatt’s impressive career spans 19 years in the real estate industry, encompassing the public, private, and nonprofit sectors. Notably, he has served in leadership roles for 12 years, including 9 years in executive leadership at public housing authorities (PHAs) in Alabama, as COO in Dothan, CEO in Sylacauga, and VP in Birmingham. He also spent time with the Hillsborough County and Tampa Housing Authorities in Florida earlier in his career.

Since 2019, he has been awarded 15 state, regional, or national affordable housing best practice awards for improving the efficiency and effectiveness of PHAs. This includes a 2019 CEO of the Year for Alabama PHAs. He has worked in urban, rural, and suburban areas, demonstrating his versatility and adaptability.

“Our entire Board is thrilled to welcome Dr. Threatt as our new CEO. The changing business needs of the affordable housing industry requires the skillset of an innovative, collaborative leader with a modern-day leadership approach and entrepreneurial worldview. He understands that the future of affordable housing will require “outside the box” thinking, investing in technology, and collaborative partnerships, the hallmark of his nearly two decades in the industry.” - Hope W. White, SHA Board Chairperson.

As a licensed REALTOR^®, Dr. Threatt’s diverse background uniquely positions him to contribute to SHA and its nonprofit development affiliate, the Central Carolina Strategic Developers, based on his understanding of the private, public, and dual housing markets. His unique perspective and real estate development experience with the HOPE VI, Choice Neighborhood, Rental Assistance Demonstration (RAD), and Rural Development (RD) programs have prepared him to lead SHA’s real estate development strategies, asset repositioning plans, neighborhood revitalization, and homeownership programs.

Under his leadership as COO in Dothan, the agency converted its entire portfolio to the Section 8 Program by converting all six properties to the RAD Project Based Voucher (PBV) and Housing Choice Voucher (HCV) programs to become a regional PHA that provides HCVs in five counties. These conversions include 47 million in mixed-finance, low-income housing tax credit redevelopments. He led the creation of a 10-year real estate development plan that included a 15-acre subdivision and 25 acres for future multifamily developments for seniors, veterans, individuals with disabilities, victims of domestic violence, youth aging out of foster care, and working families. He also led the formation of a regional HUD-approved Continuum of Care (CoC) based on a 10-year plan to end homelessness, focusing on special purpose vouchers (SPVs).

Dr. Threatt looks forward to working with the Board of Commissioners and the staff at SHA. As the new CEO, he plans to provide healthy, safe, and sustainable affordable housing that promotes economic self-sufficiency programs, high-level aging-in-place supportive services, and workforce development opportunities that improve the quality of life for all Sanford and Lee County residents. He also plans to pursue community economic development, property management, and other revenue-generating opportunities. "I am humbled to have been chosen as the new CEO. I am grateful to God for allowing me to utilize my gifts and talent to help elevate SHA to the next level with modern-day business practices." - Dr. Michael C. Threatt.

Dr. Threatt obtained his Doctor of Public Administration from West Chester University, where his research focused on HCV landlords. His research was instrumental in helping Dothan become a Moving to Work (MTW) Landlord Incentive Cohort #3 Agency. This led to Dothan being placed on the map and in the country's top 4% of PHAs. While the rest of the country loses 10,000 landlords annually, under his leadership and guidance, Dothan added 130 new units, retained 180 landlords, and added 65 new landlords to its HCV program through monetary and nonmonetary incentives over the past two years.

These best practices are in his affordable housing game-changing book on housing policy reform, The Price of Bureaucracy, which focuses on building better public-private partnerships through PHA-landlord relationships. He received his Master’s in Criminal Justice Administration from the University of South Florida and his Bachelor’s in Psychology from the University of Alabama at Birmingham.

The growth of Sanford and Lee County and the need for affordable housing solutions led him to the region. Dr. Threatt's leadership will drive the strategic planning efforts for SHA, ensuring robust goals and objectives similar to the two-time award-winning Purpose 2025 strategic plan based on his innovative “Housing Authority of the Future” model, which he successfully implemented in Dothan. This will guide SHA in its new endeavors of providing affordable, supportive, and workforce housing options.

Throughout his career, he has understood that the greatest asset to a PHA is the housing professionals he has led, mentored, and worked with. He is dedicated to developing and ensuring that the SHA team is ready to pursue housing opportunities and supportive services to meet the needs of today’s households.

Dr. Threatt is committed to changing the affordable housing narrative in the region through mixed-income, mixed-finance, and mixed-use development. By offering a range of housing options, he plans to bring the City of Sanford’s 2024-2025 Strategic Framework Goal #2: Preserving & Creating Affordable Housing to fruition. He also plans to join Sanford's S3 Housing Connect Committee and help the committee create a plan to address the area's affordable housing and homeless challenges.

Dr. Threatt is an Adjunct Social Work Professor at Troy University, and he completed the Executive Director Education Program (EDEP) certification through the Public Housing Authorities Directors Association (PHADA). He serves the industry as an At-Large Board Director with the Southeast Regional Section 8 Housing Association (SERSHA) and on the Legislative Advisory Network and Community Revitalization & Development Committees for the National Association of Housing & Redevelopment Officials (NAHRO). He is a proud member of Kappa Alpha Psi Fraternity, Inc., NAREB, NACCP, & Rotary.

Dr. Threatt’s first day with SHA will be December 2nd. The Let’s Do It Together Foundation will host a welcome reception for Dr. Threatt and his family in early January.

Dr. Michael C. Threatt
Elevate Housing Solutions, LLC
+1 205-552-9491
mthreatt@elevatehousing.com
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