The Network is deeply saddened by the passing of Rich Froehlich, First Executive Vice President and Chief Operating Officer of the New York City Housing Development Corporation. Rich cared deeply about the citizens of New York City and providing them a place to call home. He financed many supportive housing deals and was instrumental in envisioning and funding the Down Payment Assistance Fund which provides pre-development loans to our community.
“Rich Froehlich was a bond guru, housing innovator, and mentor to a whole generation of people working to create and preserve supportive and affordable housing,” said Brenda Rosen President and CEO of Breaking Ground and Network Board Chair. “Rich embodied what it means to be a public servant, and countless vulnerable New Yorkers are today in safe, stable, affordable homes thanks to his tireless work.”
There was no problem too big or too small for Rich to put his mind to. He was a national leader in his depth of understanding of bond and affordable housing financing. The Network is heartbroken at his sudden loss and sends its deepest condolences to the Froehlich family and the NYC HDC and HPD community. Rich will be greatly missed.