(Fond du Lac & Middleton, Wis.) January 1, 2021 – The Commonwealth Companies (“Commonwealth”), a Wisconsin-based organization comprised of real estate development, construction, architectural design, and property management companies, announced that Brent Schumacher has been named the new President of Commonwealth Construction Corporation, and David Ritchay has been named the new President of Commonwealth Development Corporation, effective January 1, 2021.
Schumacher has been with Commonwealth since 2008 and has over 30 years of experience in the construction and development industries. He started at Commonwealth as a Project Manager and over the years has worked to expand the capabilities and capacity of the construction company. In this new role as President of Commonwealth Construction Corporation, Schumacher will oversee and be responsible for establishing short and long-term goals for project execution, reporting, financials, and business development to grow and strengthen the construction companies’ national footprint.
Ritchay has 17 years of development and asset management experience with broad application in most aspects of the affordable housing industry. He joined Commonwealth in 2015 as Vice President of Development with the focus of identifying affordable housing development opportunities. In 2017, he become Senior Vice President of Development, overseeing all housing production. Ritchay was later tasked with building an Asset Management department to look after Commonwealth’s growing portfolio of stabilized communities. Currently, he shares development production responsibilities with Dan Kroetz, Senior Vice President of Development, while also overseeing Asset Management. In his new role of President of Commonwealth Development Corporation, Ritchay will provide strategic leadership and corporate oversight to achieve company goals that will improve both operational efficiency and the bottom line.
“Brent and David have continuously shown strong leadership, and both have made significant contributions to advance our companies’,” said Kristi Morgan, Principal, The Commonwealth Companies. “I am 100% confident that they will stay true to our mission and continue to grow the firm.”
The naming of Schumacher and Ritchay as Presidents is the result of thoughtful leadership development and succession planning.
“In 2018, Commonwealth merged with Mirus Partners (based in Middleton, WI) to build capacity and allow for us to groom and establish our next generation of leadership,” said Louie Lange III, Principal/Founder, The Commonwealth Companies. “This is a special opportunity to hand over the role of President of two of our entities to two individuals who have the same vision and values that have made this family of companies so successful.”
“We made this change with an eye toward a very bright future,” said Chris Jaye, Principal, The Commonwealth Companies. “There is no doubt in my mind that Commonwealth will continue to open doors to opportunity and positively impact the lives of our residents and communities for many years to come.”
About Commonwealth: Since 2001, Commonwealth has been a leader in innovative development of affordable housing, cost-efficient construction processes, sophisticated architectural design, and quality property operations. They have been cited as the nation’s 11th Largest Affordable Housing Developer (2019) by Affordable Housing Finance and Best Affordable Housing Developer – USA (2020) by BUILD Magazine. Commonwealth’s mission is to open doors to opportunity by designing, developing, constructing, and managing winning products and services for our communities, families, partners, and employees.