Staff Spotlight: Paul Carney

December 13, 2023

December 13, 2023-Oakland, CA

Paul joined Merritt’s Board of Directors in 2019 to fill a need for developer representation. As a strategic financial leader in the affordable housing industry, he made a valuable addition. As a Board Member, Paul was intrigued by Merritt’s evolving structure and the ambitious vision for its future and was an active participant in the strategic planning committee, playing a pivotal role in shaping that future. When the opportunity came, Paul was excited to join Merritt as a staff member, taking on the CFO/COO role in December 2021.  

Paul’s career began in New York and was rooted in an interest in cities, community development, and the observation that cities could function more efficiently. The many challenges faced by low-income individuals informed his dedication to housing as a viable solution. Before his move to California, Paul attended Harvard’s Kennedy School for his M.A.  

Paul’s career trajectory is diverse, with each role contributing to his unique understanding of affordable housing. He recognizes that affordable housing continually presents new challenges, pushing the industry to find innovative solutions. His perspective on the wide range of roles in affordable housing underscores the need for a varied and skilled workforce to tackle the multifaceted challenges. 

After his time as CFO at TNDC, Paul returned to consulting in affordable housing finance which he had done previously for nine years at Devine and Gong. This experience not only contributed significantly to his professional growth but also exposed him to a work culture built on trust—a leadership style he has carried into his role at Merritt. 

Paul is enthusiastic about contributing to Merritt’s growth and development, not just financially but also in operations. Looking forward, Paul envisions Merritt as an organization that listens attentively to its partners, responds to industry needs, and actively addresses barriers faced by those in the field. He sees the potential for Merritt to play a crucial role in eliminating obstacles and fostering collaboration within the affordable housing sector. 

Trust and openness are at the core of Paul’s professional values. He believes that trust is indispensable in any collaborative effort, emphasizing the significance of transparency. Paul’s commitment to these values underscores his approach to building meaningful partnerships and collaborations within the affordable housing industry. 

Paul’s journey to his current role as CFO/COO at Merritt reflects a dedication to creating a comprehensive understanding of affordable housing. His financial acumen, strategic vision, and commitment to value-focused work position him as a driving force in Merritt’s mission to continue being a valuable and essential organization in the affordable housing sector. 

Thank you for your two years at Merritt and we look forward to more years with you!  

About Merritt Community Capital Corporation 

Merritt Community Capital Corporation is a nonprofit dedicated to our mission to provide equity capital for affordable housing exclusively to California. We do this by partnering with mission-aligned affordable housing developers throughout the state to ensure the most critical communities are developed and maintained for low-income residents. Since 1989, Merritt has created and/or preserved 11,000 affordable homes, through investing over $1.2 billion in 26 separate funds, providing housing for over 29,700 people. 



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