PHILADELPHIA — Pennrose, a Philadelphia-based developer, has hired Shannon Cox Baker as regional vice president to lead the company’s activities in Colorado, Arizona and Utah. She will work out of the company’s regional office in Boulder, Colorado.
Bringing more than 15 years of affordable and supportive housing development experience, Baker will lead the execution and continued growth of Pennrose’s development footprint in the region.
In her role as regional vice president, Baker is responsible for all aspects of the real estate development process from initial conception through construction, to lease-up and stabilized occupancy or sale.
Prior to joining Pennrose, Baker ran her own consultancy and development company, Rivet Development Partners. For over a decade, she provided owner’s representation and project management services to for-profit, nonprofit and housing authority LIHTC developers throughout Colorado. She also previously held positions with for-profit and public housing agencies where she became a leading advocate for community-based development solutions.
Baker earned a bachelor’s degree from University of South Carolina Honors College and an MBA from University of Colorado Leeds School of Business. She is an active member of the CU Real Estate Center and Housing Colorado.
Pennrose’s presence in the Mountain Region is in direct response to the increasing affordable housing shortage throughout the mountain states. According to the National Low Income Housing Coalition, Colorado, Arizona and Utah are facing some of the most extreme cases of limited housing supply in the country, with only 26 affordable rental homes per every 100 low-income households in Arizona, and 30 and 32 rental homes per every 100 low-income households in Colorado and Utah, respectively.