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The Libertad development in Cedar City, Utah, is among affordable housing projects take on by The Vecino Group.
Photo courtesy The Vecino Group LLC
The Libertad development in Cedar City, Utah, is among affordable housing projects take on by The Vecino Group.

Vecino Group CFO to lead new subsidiary

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The Vecino Group LLC named its chief financial officer as president of a new subsidiary.

Kody Redwing took on the new leadership role ahead of a planned 2021 public launch for Vecino Capital. Redwing also is a partner in the new business, which will work with investors, private equity funds and other sources to connect financing for developments, according to a news release.

“In my three decades of development experience, I have not seen someone with Kody’s combination of raw financial talent and work ethic," Vecino Group CEO Matt Miller said in the release.

Redwing has worked for Vecino Group for nearly three years, according to his LinkedIn profile. Prior to joining the company, he worked for more than eight years in banking.

Reached this morning, Redwing said Vecino Capital would work to fund projects taken on by The Vecino Group, especially affordable housing projects.

“That may change down the road. This is a new line of our business, so it will evolve as time goes on,” Redwing said of financing outside projects in the future.

In the affordable housing industry, Redwing said the need for financing is immense given that “it’s probably one of the biggest challenges in our society.” The Vecino Group currently has 10 affordable housing projects in the pipeline, he said.

The Vecino Group in a separate release announced the hiring of Aaron Henry as its new CFO.

Henry comes to the Vecino Group from his position of director of financial reporting and corporate controller at Gardner Capital in St. Louis.

In addition to affordable housing and other projects, The Vecino Group is working on the planned expansion of IDEA Commons downtown in partnership with Missouri State University.

Springfield City Council on June 1 approved tax increment financing and redevelopment plans for the IDEA Commons redevelopment. The $55 million project is expected to generate $3.3 million in local TIF revenues over a 23-year collection period, according to past reporting.

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