PHILADELPHIA — Pennrose, a Philadelphia-based developer of multifamily properties including seniors housing, has promoted Marsha Blunt to president of Pennrose Management Co. (PMC) and Margot Elton-Ratliff to vice president of operations.
Blunt will be responsible for the financial and operational performance of the organization, overseeing the property operations, risk management, compliance and maintenance departments. Elton-Ratliff will be responsible for enhancing company performance by providing overall direction and guidance of Pennrose operating activities.
Blunt joined Pennrose in 2006, serving as regional property manager and later regional vice president, where she oversaw 2,400 units in New Jersey and Pennsylvania. Most recently, she served on the executive team as vice president of operations, where she provided property management oversight for communities across Pennsylvania, Maryland, Washington, D.C., and the Southeast.
Blunt has experience leasing-up and managing affordable housing programs, including LIHTC, HUD 202, Section 8, HOME, Hope VI, ACC and Housing Choice Voucher. Prior to joining Pennrose, she held several positions in multifamily management.
Blunt earned her MBA and bachedlor’s degree in business administration from Strayer University. She also holds her Certified Occupancy Specialist (COS) and Blended Occupancy Specialist (BOS) certifications.
As vice president of operations, Elton-Ratliff will provide direct oversight of the Pennrose transition management team and its interactions with development, operations, and community impact teams. Together with the senior leadership team she will evaluate the effectiveness of Pennrose’s internal processes and interdepartmental collaboration, develop recommendations for efficiency in reporting structures, and implement policies to improve procedures, processes and workflow.
Elton-Ratliff joined Pennrose in 2016, most recently serving as director of development operations, where she led the goals of the Pennrose Strategic Plan by supporting the structures, policies and systems established to manage, train and deploy development staff resources and expand Pennrose’s deal pipeline. She also maintained development responsibilities for projects in New Jersey, Pennsylvania and Delaware.
Prior to her role as director of development operations, Elton-Ratliff served as an associate developer and developer with Pennrose. She also worked for the New York City Department of Housing Preservation and Development (HPD) as a senior project manager, where she supported the Low-Income Housing Tax Credit (LIHTC) Preservation Program.Elton-Ratliff earned her bachelor’s degree in sociology from Haverford College and her master’s in urban and environmental planning from the University of Virginia.