Cornerstones Hires Scheurer as New VP, Housing

Reston-based nonprofit Cornerstones has hired Michael J. Scheurer as Vice President, Housing & Community Development.

Scheurer will be responsible for real estate acquisition, development, and advocacy activities supporting the preservation and development of affordable housing, said Cornerstones CEO Kerrie Wilson.

Scheurer will manage the Cornerstones Housing Corporation (CHC), the subsidiary organization that oversees Cornerstones’ existing housing portfolio, and identify new opportunities to broaden our work in this area.

“Mike understands the struggles faced by low-income and working families in our region and brings new ideas and capacity to help us change that picture for the people we serve in the greater Reston-Herndon community,”  Wilson said in a statement.

Cornerstones addresses the need for affordable housing in the community through the efforts of its subsidiary housing corporation, by acquiring, preserving, rehabilitating, constructing and managing housing for formerly homeless and at risk individuals and families.

Scheurer most recently worked for the Virginia Housing Development Authority (VHDA). VHDA is a not-for-profit organization created by the Commonwealth of Virginia in 1972 to help Virginians attain quality, affordable housing.

At VHDA,  Scheurer was responsible for community lending and relationship initiatives as well as developing strategies to finance affordable housing for homeownership and rental. Prior to VHDA, Scheurer was Senior Deputy Director of the Fannie Mae Washington Metropolitan Community Business Center, and Director, Multifamily Finance for the National Association of Home Builders (NAHB).

He has also served as Director of Development and Real Estate Finance for the Department of Housing and Community Development for Fairfax County where he administered and directed the planning, development and preservation of over 4,000 units of housing. He is immediate past Chairman of HAND–the Housing Association of Nonprofit Developers, past chairman of HomeAid of Northern Virginia and serves on the Fairfax County Affordable Housing Advisory Committee.

“Reston and Cornerstones are entering a new and exciting period of possibilities over the next two to five years,” said Scheurer. “I am very excited to be able to bring a career and experience in all phases of affordable housing to Cornerstones and especially in the community where I have resided for over 30 years.”

Scheurer’s position was most recently held by Tim McMahon, who retired in May after 20 years of service.

Photo: Michael Scheurer/LinkedIn