ALCO Management, Inc. CEO Retiring, Successor Announced Amid Company Move into Recently Renovated Offices

ALCO Management, Inc. announced that CEO Frank Jemison will be retiring and assuming the role of chairman of the board for the company.

Jemison has been a leading voice at ALCO for fifty years and has guided the company through the years with his industry-leading expertise in apartment finance and affordable housing communities. Jemison has also served within the industry as a board member of the Institute for Responsible Housing Preservation and the National Leased Housing Association.

ALCO Vice President of Development, Berkeley Burbank, will be succeeding Jemison as CEO.

“Frank has built an amazing company and we have a really great leadership team in place. We are excited and ready to continue the work that he spent years building in this community and we look forward to growing and adding to what we’ve accomplished together,” Burbank said.

Burbank joined ALCO’s acquisitions and development team in 2006 and has more than 25 years of experience in the development of affordable housing as an expert in a broad range of debt and equity sources including conventional and FHA mortgage programs, tax exempt bonds, low income housing tax credits, HOME and HOPE VI. Burbank holds a degree in public policy from Stanford University.

ALCO’s own Dana Patterson will assume the role of Senior Vice President of Operations when Burbank moves into the role of CEO. Patterson moves from Asset Management to a new role of directing Property Management, Learning & Development, and Compliance.

Among these exciting changes, ALCO also completed extensive renovations to their offices at 35 Union Avenue in downtown Memphis. The company has been in the same offices since the building was initially renovated in the 1980s.

“Our company wanted to have a working space for our employees that provided the same support and encouragement that we provide for our properties,” said Burbank, “We want a sustainable, open atmosphere and these renovations will provide that!”

The offices now have river views accessible to all employees, new exercise facilities, and a wellness room.