PHILADELPHIA — Pennrose, a Philadelphia-based developer and operator of affordable and mixed-income housing, has appointed Timothy Henkel as CEO. Henkel, who formerly served as president, will oversee the company’s development and property management activities across 17 states, the District of Columbia and the Caribbean.
As part of the succession plan, Executive Chairman of the Board Richard Barnhart and CEO Mark Dambly have transitioned from day-to-day responsibilities with the organization to active members of the Pennrose board.
Additionally, Pennrose has named Charlie Adams as president of development. In this role, Adams will be responsible for Pennrose’s national development strategy. Karmen Cheung will inherit Adams’ prior role of New England regional vice president.