Avesta Housing names successor to longtime CEO Dana Totman

File photo / Tim Greenway Rebecca Hatfield was named the new president and CEO of Avesta Housing.

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By Jessica Hall

Following a nationwide search, Rebecca Hatfield has been promoted to president and CEO of the nonprofit Avesta Housing, succeeding longtime leader Dana Totman.

Hatfield, who joined Avesta in 2015, has been senior vice president of real estate at the Portland-based developer of affordable housing. She will move into her new role on Sept. 6.

She will oversee an organization with 300 employees and a portfolio of 109 properties with 4,600 residents.

Avesta's scope includes real estate development, property management, housing stability services and assisted living, with affordable housing at its core.

“It’s a critical time for me to lead the largest affordable housing organization in northern New England. I have a strong commitment to helping solve the housing crisis,” Hatfield told Mainebiz.

“The housing crisis is at such a dire level that we all need to come to the table — local, public, private, nonprofits — and bring something crucial. People need a lot of support when they’re in need of housing, so we need to take a holistic approach to solving all the issues around housing,” Hatfield said.

“Housing is the No. 1 issue right now. We can create all the jobs we want, but if people don’t have a place to live, there won’t be a sustainable workforce. People need housing first and foremost," she said.

Maine's housing crisis is a culmination of several factors, including an influx of out-of-state buyers, limited new home construction, high material and labor costs, old housing stock and escalating prices, she said.

A recent report by the National Low Income Housing Coalition and the Maine Affordable Housing Coalition found that Maine needs 20,000 affordable housing units to meet the needs of its lowest-income residents.

Although the overall real estate market is showing signs of slowing down amid higher interest rates, the issue of affordable housing remains.

“Even if the housing market cools, the affordable housing crisis is not going to cool. It’s still a problem,” Hatfield said.

The Avesta board of directors said it selected Hatfield from a competitive pool of applicants. It cited her strong leadership skills, extensive experience in nonprofit management and real estate development, and deep commitment to Avesta’s mission.

“Rebecca impressed us with her compassion for the people in our community and her strategic vision for our organization,” said Jonathan Culley, chair of the Avesta board. “As Avesta celebrates its 50th anniversary this year, we are excited to support Rebecca as she leads this nonprofit into the next chapter of its history.”

Hatfield succeeds Totman upon his retirement in September. During his 22 years with Avesta, Totman has led the organization through tremendous growth as the number of staff increased from 60 to 300, affordable homes in the Avesta portfolio increased from 700 to 3,200, and assets increased from $60 million to $350 million.

Prior to joining Avesta, Hatfield was a senior vice president at Citigroup. She brings over 15 years of experience in finance and real estate with a focus on deal structuring, underwriting, portfolio management and relationship management. Her previous employment also includes five years as a software and network management engineer.

Hatfield was named a 2021 Mainebiz Women to Watch. In addition to her work at Avesta, she serves as the board vice chair and loan committee chair for Genesis Community Loan Fund and is on the boards of the Maine Real Estate and Development Association (MEREDA) and the Gulf of Maine Research Institute. She is also a corporator for Androscoggin Bank. Previously, she served on the board of the Maine Council on Aging.