The Falcone Group, led by mega-developer Art Falcone, has announced that Alfonso Costa Jr. has been hired as Executive Vice President of Falcone Residential’s newest division focused on affordable and workforce housing. In his new role, Costa will be responsible for leading Falcone Residential’s workforce and affordable housing platform, as well as the firm’s Opportunity Zones strategy.

Costa most recently served as Deputy Chief of Staff at the United States Department of Housing and Urban Development (HUD). In his role, he was responsible for counseling the Secretary and overseeing policy for the $52 billion annually budgeted Cabinet-level agency, which maintains a wide range of Federal housing and community development programs, and more than 7,000 employees across 65 offices nationwide.

Costa’s agency-wide portfolio included advising on HUD’s multifamily mortgage insurance programs, managing policy decisions with regard to the agency’s COVID-19 response and CARES Act appropriations, and directing actions taken through the White House Council on Eliminating Regulatory Barriers to Affordable Housing. Mr. Costa also served as the Chairman’s representative and HUD’s lead on the Federal Government's inter-agency White House Opportunity and Revitalization Council (“Opportunity Zones Council”). He was ranked #10 in the Opportunity Zone Magazine’s “Top 25 Opportunity Zone Influencers of 2020” list.

“Alfonso’s wealth of knowledge and experience in affordable housing and Opportunity Zones is second to none,” said Art Falcone. “As we continue to commit more of our firm’s time, energy and resources into workforce and affordable housing, we are confident that there is no one more primed for this position than Alfonso.”

"I am very excited about the opportunity to work with someone as respected and accomplished as Art Falcone, whom I know to be a true icon in the real estate industry, especially considering his humble beginnings," said Costa. "My admiration for Art and his team's work ethic is what led me to the Falcone Group, and I look forward to helping them address the country’s undersupply of housing and underinvestment in historically neglected Opportunity Zones."

Costa earned his juris doctor from Harvard Law School, master's degree from the University of Oxford (UK), and bachelor's degree from Yale University. He is currently a Public Sector Fellow of the Harvard Alumni Real Estate Board, Advisory Board Member of Nova Southeastern University’s Real Estate Development Program, Emerging Leaders Council Member and alumnus of New Heights Youth Inc., and a Full Member of the Urban Land Institute.