Seasoned affordable housing executive joins Pennrose to strengthen operational leadership

Pennrose, a national leader in the development and management of high-quality mixed-income and mixed-use housing, announced the appointment of Rhonda Caldwell as vice president of operations.

In this role, Caldwell will oversee Pennrose Management Company (PMC)’s property operations across communities in New England and New Jersey, ensuring operational excellence and high-quality service delivery through the development of strategic initiatives and process improvements.

“Rhonda’s deep industry experience in affordable housing operations, asset management, and regulatory compliance will make her an immediate asset to the Pennrose team,” said Marsha Blunt, president of Pennrose Management Company. “We’re confident she is the ideal candidate to help ensure the highest quality living experience for our valued residents.”

Caldwell brings more than 30 years of experience in affordable housing property management, asset management, and housing finance. Most recently, she served as regional operations manager for Related Management Co., where she oversaw a 3,600-unit affordable housing portfolio in Connecticut and Massachusetts. Prior to that role, she spent nearly eight years at the Connecticut Housing Finance Authority (CHFA), where she served as the statewide compliance officer for 14,000 units. Her career also includes senior leadership roles at Trinity Management Co. and Winn Residential.

“I’ve seen firsthand Pennrose’s commitment to creating high-quality, inclusive communities that transform lives and drive economic growth,” said Caldwell. “I look forward to contributing to that mission and working alongside a talented team dedicated to delivering exceptional outcomes for residents and partners alike.”

Caldwell earned her Master of Public Administration from the University of New Haven and a Bachelor of Science in Finance and Business Administration from Sacred Heart University. She holds multiple industry certifications, including the C4P LIHTC Compliance designation from Spectrum Enterprises, Specialist in Housing Credit Management (SHCM) from the National Affordable Housing Management Association, Certified Apartment Manager (CAM) from the National Apartment Association, and Blended Occupancy Specialist (BOS) from the National Center for Housing Management.

She is actively engaged in her local community, currently serving as a city councilperson for the Town of Hamden, CT and as treasurer for the Connecticut Chapter of the Institute of Real Estate Management (IREM), which recognized her as its 2025 Board Member of the Year.