Affordable-housing provider Habitat for Humanity of the Chesapeake said its new chief executive — who brings a construction and finance background — will come on board this month.
Mike Posko, a principal with real estate consulting firm Cross Street Partners in Baltimore, replaces longtime CEO Mike Mitchell at the helm of the nonprofit after Mitchell's resignation in November. Before Cross Street, Posko worked at developer Struever Bros., Eccles & Rouse and at the Federal Reserve.
He is to start work Feb. 13.
When he was asked in December to interview for the job to head the Baltimore-area chapter, Posko said, he was coincidentally in Nepal on a volunteer mission with Habitat for Humanity International.
"It just seemed like a perfect fit for me," he said.
Posko will take over an organization with an operating budget of approximately $15 million, said Mark Bendann, Habitat's chief operating officer. Bendann said the nonprofit was on track to build 49 homes this fiscal year, which ends in June.
Habitat keeps the costs down on the homes it sells to low-income buyers by relying on volunteer work — including "sweat equity" from its buyers — and by providing no-interest mortgages.