Theresa Stegman

Director, Development

Ms. Stegman manages the development of complex and innovative adaptive-reuse projects in Baltimore City and Gainesville, FL. She oversees multiple projects from inception to occupancy, leading site selection and feasibility analysis, entitlements, budgeting, detailed cash flow projections, financial structuring, design team selection, contract negotiation, financial closing, and construction management.

Ms. Stegman is well-versed in securing and structuring public-private financing for commercial real estate. Since joining Cross Street Partners (CSP) in 2014, Ms. Stegman has obtained approval for $10 MM of public economic development funds and has closed over $60 MM in New Markets Tax Credit (NMTC) allocation, both from the developer and lender side. Most recently, Ms. Stegman secured public approval for a 17-acre mixed-use redevelopment in Gainesville, FL that features over 500,000 square feet of development over multiple phases. She also led the successful closing of the Lion Brothers project, which involved almost $10 MM in NMTC allocation, federal and state historic tax credits, state grants, and senior and subordinate financing. Prior to transitioning to development, Ms. Stegman served as the Director of Portfolio Development and Administrative Services for CSP’s affiliated Community Development Entity, Urban Action Community Development LLC, where she identified mission-aligned investments, evaluated project feasibility and readiness, and managed the closing process.

Prior to joining CSP, Ms. Stegman worked in development at Washington Real Estate Investment Trust, where she gained expertise in land use and zoning, budgeting, and financial modeling. Before beginning her career in real estate development, Ms. Stegman served as Chief of Staff to a Maryland State Senator, where she successfully guided several initiatives through the legislative process while overseeing all communications for the office.

Ms. Stegman received her Master’s degree in Real Estate Development from the University of Maryland, where she placed first in the 2011 Fall Colvin Capstone Competition. She has a Bachelor of Science, with honors, from Cornell University in Urban and Regional Studies. Ms. Stegman is a Board Member of Commercial Real Estate Women (CREW) Baltimore, where she serves as the Membership Committee Liaison. Civically, Ms. Stegman serves as a member of the Zoning and Land Use Committee for the Hampden Community Council.

 

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