Pennrose Promotes Patrick Stewart to Lead Development in Maryland

PHILADELPHIA — Pennrose, a Philadelphia-based developer developer of multifamily properties including seniors housing, has promoted Patrick Stewart to regional vice president of the Maryland region.

Stewart will assume responsibilities for the region following the recently announced promotion of Ivy Dench-Carter to senior vice president for development.

Stewart joined Pennrose in 2013 and has since served in Pennrose’s Baltimore office, most recently as a senior developer. He has been active in all facets of the real estate development process, including financial analysis; feasibility; assembling and leading the development team; securing entitlements; and overseeing construction, lease-up and stabilized occupancy.

Stewart’s current portfolio of projects managed for Pennrose includes over 700 units completed or under construction totaling over $178 million, plus an additional 750 units in pre-development with a combined value of over $185 million.

Prior to joining Pennrose, Stewart acted as project manager under the New York City Mayor’s Office of Capital Project Development, where he worked to implement multiple federally funded rebuilding projects aimed at revitalizing Lower Manhattan after the terrorist attacks of Sept. 11, 2001.

Stewart’s background is in urban planning and real estate, having earned a master’s degree in city and regional planning from the University of Pennsylvania, where he also earned a Certificate in Real Estate Design and Development through a joint program of the Wharton School of Business and the Graduate School of Design. Stewart earned his bachelor’s degree from Kenyon College. Stewart is also active in the Maryland Affordable Housing Coalition and serves on the board of the Anne Arundel Affordable Housing Coalition.