(Updated at noon) Walter Webdale, the CEO of local affordable housing developer AHC, is retiring.
Webdale’s retirement announcement comes as the nonprofit faces fallout from reports of poor conditions and maintenance at its Serrano Apartments complex on Columbia Pike. Outrage over apartments infested with rodents, filthy air conditioning units and walls covered in mold has led to condemnations from local elected officials and a flurry of actions to fix the problems, as ARLnow first reported.
Among the actions taken: replacing AHC’s own for-profit management company with another firm to manage the Serrano Apartments.
Webdale, in an email this morning to AHC supporters, announced that he will be retiring as of this coming Monday. He touted AHC’s growth and good works over the course of his more than two decades of leadership. He said the organization will be announcing plans for new leadership soon.
Webdale received more than $400,000 in compensation by the nonprofit in 2018, according to federal filings. AHC and its affiliates and subsidiaries reported around $92 million in revenue that year, mostly from apartment rents.
Answering an ARLnow inquiry about Webdale’s compensation, AHC spokeswoman Celia Slater noted that “he does not receive compensation from AHC’s other affiliated entities.”
Webdale’s letter about his retirement is below.
Dear AHC family,
I am writing to you all today to announce my retirement, effective May 31, 2021. It has been my honor to lead our organization for the past 22 years, and I’m immensely proud of the growth and good work we have accomplished together.
You will hear more about specific plans for AHC’s new leadership soon, but I want to personally assure you that the organization is committed to continuing our mission of providing affordable, stable homes for those in need and serving our residents.
The AHC Board, led by Board Chair Bob Bushkoff, in conjunction with senior staff, will provide oversight while we undertake a search for a new CEO. A special committee has been set up to ensure a seamless transition. I have full confidence in the Board’s ability to find a successor that will lead AHC into the next chapter.
I wish you well and want to thank each and every one of you for your support of AHC’s mission of providing affordable housing and educational opportunities for our residents.
All my best,
Walter D. Webdale
President & CEO