NeighborWorks Names Chief of Merged Units

James Ferris has been named executive director of NeighborWorks Capital, the newly formed real estate development financing arm of NeighborWorks America.Mr. Ferris, 50, joined the organization from the Fannie Mae Foundation, where he had been senior director of national initiatives since 2004. He is based in Washington, D.C. NeighborWorks Capital is the result of a recent merger of Neighborhood Capital Corp. and RNA Community Builders, which served NeighborWorks organizations enrolled in specific initiatives such as multifamily real estate development and rural housing and community development. In contrast, NeighborWorks Capital will serve the full range of real estate development activities, including affordable rental housing, affordable homeownership housing, and commercial projects, NeighborWorks America said. It will also offer new products to serve its expanded market. The parent organization can be found online at http://www.nw.org.