Helping Underserved Communities
Thrive & Create Wealth
Kalel Companies creates a positive long-term economic impact with each development – for lenders, investors, and tenants.
A certified MBE, Kalel creates housing opportunities that allow family and community to thrive.
Formed in 2012, Kalel has led the redevelopment and preservation of over 3,000 affordable units with an estimated $800 million in capitalization.
About Kalel Companies
Kalel Companies is a minority-owned real estate development firm specializing in the creation and preservation of affordable, mixed-income and mixed-use communities.
Our practice is grounded in the concept of equitable development, and we define our success primarily by the economic empowerment of the residents and communities we serve.
Kalel’s principals are housing professionals with over 35 years of combined experience in real estate development, construction and finance. The firm is a NYC-certified MWBE business. We have broad expertise across residential development types, including rehabilitation, new construction, public housing authority redevelopment, supportive housing, mixed-use and mixed-income.
At Kalel Companies, our mission is to construct housing and foster communities that cultivate interconnected ecosystems, enabling underserved populations to flourish and generate prosperity. We believe in empowering individuals and families by providing them with access to high-quality homes, nurturing environments, and abundant opportunities. Through our commitment to building sustainable and inclusive communities, we aim to create a foundation for success, well-being, and wealth creation, ensuring that everyone has the chance to thrive and fulfill their potential. Together, we are building a brighter future for underserved communities, one home and one connected ecosystem at a time.
Pierre Downing, Founding Principal – Pierre Downing is a seasoned real estate development professional with almost two decades of experience in the real estate development across the public, non-profit and private sectors. At Kalel, Pierre focuses on sourcing and structuring transactions through his relationships with community stakeholders, local government, lenders and investors. Pierre’s most recent experience includes roles as Vice President of Affordable Housing at Monadnock Development and Director of Real Estate for Notias Construction, Inc. During his tenure, he led the redevelopment of an estimated 3,000 units totaling $800 million in total development cost. Pierre began his affordable housing career at the New Jersey Housing Mortgage & Finance Agency (NJHMFA) as an analyst. Based in his hometown of Trenton, NJHMFA sparked Pierre’s passion for affordable housing, allowing him to see the transformative impact that safe, vibrant housing would have on neighborhoods like his own. It is this passion that fuels Pierre to continue serving at-risk populations throughout New York City.
Amy Stokes, Principal – Amy Stokes has been working in the housing industry for decades, leading large scale new construction and rehabilitation projects, totaling over $1 billion in development cost. At Kalel, Amy focuses on sourcing and execution of development projects across the portfolio. Previously, Amy’s was Vice President at Monadnock Development where she led the development of approximately 2,400 residential units across New York City. Prior to Monadnock, Amy was the Deputy Director in the New York City Housing Authority’s Real Estate Department where she managed a team who worked closely with government agency partners on the financing and closing new construction and preservation projects developed on NYCHA property, including the first RAD transaction. She started her career working on housing finance policy for the New York City Council Speaker’s office. Amy received her Bachelor of the Arts from Barnard College and Master in Urban Planning from New York University. She is also on the advisory council for the New York City Housing Conference and for the Fund for Public Housing.
Noel Henderson-James, Principal – Noel is an affordable housing development and finance professional with more than two decades of experience originating, structuring and developing
affordable housing. Over his career, Noel has participated in the syndication of more than $500 million of LIHTC investments and the development of more than 5,000 affordable and mixed-income units. Most recently, Noel was Development Director at Laurel Street Residential, responsible for the day-to-day management of a $200 million 1,000-unit new construction pipeline in Durham, NC. Prior to that, he was responsible for originating, structuring and closing more than $500 million in LIHTC investments in New York City, Boston, Philadelphia and Washington, DC with Raymond James Affordable Housing Investments and Richman Housing Resources. Noel began his career in affordable housing with the National Equity Fund and then worked as Development Coordinator with Michaels Development Company, both in Chicago, and after that spent four transformative years as a Project Manager with Gulf Coast Housing Partnership in New Orleans after Hurricane Katrina.
“The Greatness of a Community is Most Accurately Measured by the Compassionate Actions of its Members”
– Coretta Scott King