by Carol Corden
New Destiny E.D., 1997-2020
Rich Froehlich’s sudden death on September 24th, 2021 left New York City’s affordable housing world shocked and saddened. Rich was a major actor on the New York and national housing scenes and he was in the prime of his career.
He was also a steadfast friend and supporter of New Destiny Housing. Rich served on the Board of Directors from 2003 to 2010. Even after leaving the Board, he continued to support the organization as a generous donor and resource. Rich was available to talk through challenges, discuss strategy, and provide advice.
Rich’s commitment to affordable housing guided his career and shaped his life. He delighted in overcoming challenges and developing new and creative ways of financing housing for low-income households. And he wanted to share his passion with others — a quality that made him a superlative teacher of housing finance during his years as an adjunct professor at Columbia University.
New Destiny benefited from his expertise on several occasions. One I remember particularly was a presentation he made to the Board on “Housing 101.” Rich unpacked the distinctly wonky subject of low-income housing tax credits, income inequality, and the NYC real estate market in a short and entertaining presentation. It was a bravura performance that conveyed not only the depth of his knowledge but his passion for sharing it with others.
Rich will be missed by his friends and colleagues at New Destiny Housing. His premature loss is a tragic one for the entire affordable housing world. We are grateful for the time he was with us, his support of New Destiny, and for his many contributions to producing and financing affordable housing.