Stephen R. Whyte, Managing Director

Stephen Whyte founded Pacific Housing Advisors in 1993 and is a specialist in the structuring of complex projects involving a combination of tax-exempt financing and low-income housing tax credits. With more than 20 years in the industry, Mr. Whyte is a frequent speaker at industry conferences and workshops, providing a practical, experience-based counterpoint to the more technical discussions. Mr. Whyte graduated with honors from Pacific Lutheran University in Tacoma, Washington with a B.A. in Economics and History and is a Certified Management Accountant.

David A. Beacham, Group Director

David Beacham heads up the San Diego office of Pacific Housing Advisors where he directs consulting assignments for clients in the acquisition of low-income housing projects financed by tax-exempt bonds, tax credits, USDA 515 funds, HUD loans and HUD rental assistance. Mr. Beacham joined Pacific Housing Advisors in 2003 after four years with the San Francisco office of Novogradac & Company LLP, where he was a principal. He earned a B.S. in Business with an emphasis in Accounting from San Diego State University.

Gregory M. Dunfield, Director

Gregory Dunfield provides both financial and development consulting to clients in the affordable housing market. Mr. Dunfield joined Pacific Housing Advisors in 1999 after four years as Director of Development with Pacific Harbor Capital, later known as Lennar Affordable Housing, in Portland, Oregon. Mr. Dunfield graduated with honors from the Urban Development Program at the University of Western Ontario with a degree in Urban Geography.

Sara A. Fay, Director

In addition to her extensive hands-on development experience, Sara Fay has the financial fluency to provide clients looking to begin or expand their affordable housing portfolio with top counsel. Ms. Fay joined Pacific Housing Advisors in 2001 after nine years with American Capital Development, Inc., a real estate development company in Bellevue, Washington.

Makani Maeva, Director

Makani Maeva runs the Honolulu office and specializes in acquisitions, entitlements and development management. Ms. Maeva joined Pacific Housing Advisors in 2001 and has worked in the affordable housing industry since 1995. She holds a B.A. from Pepperdine University in Malibu, California.

Stephanie J. McFadden, Director

A prominent figure in real estate and investment banking for more than 15 years, Stephanie McFadden opened the San Francisco office of Pacific Housing Advisors in 2007. Prior to joining the company, Ms. McFadden served as Vice President for ARCS Commercial Mortgage Co. L.P. in San Francisco, where she originated permanent loans primarily through the Fannie Mae multifamily loan program. She also had a distinguished career at the Bank of America, where she launched the tax-exempt bond program for affordable housing. Ms. McFadden received a Masters in City Planning from UC Berkley and a B.S. in Civil Engineering and Architecture from Princeton University.

Francine L. Kellman, Director

Francine Kellman runs Pacific Housing Advisors' New York office and concentrates on the acquisition, refinancing, and rehabilitation of affordable housing. Francine began her prominent 20-year government career at HUD and was Vice President of Housing Policy and Coordination at the New York State Housing Finance Agency for the past nine years. At HFA, she created and launched their first housing preservation program, refinancing and renovating over 5,000 units of low-income housing.