Julián Castro is confirmed as next HUD Secretary

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Flag CapitolWith a resounding 71-26 vote, the Senate has confirmed Julián Castro as the 16th Secretary of Housing and Urban Development. President Obama’s nomination of Mr. Castro replaces outing Secretary Shaun Donovan, who was in turn nominated to serve as Secretary of the Office of Management and Budget. Mr. Castro is a member of the Democratic Party, and he gained national attention in 2012 as the first Hispanic keynote speaker at a Democratic National Convention. Before his nomination to HUD Secretary, Mr. Castro served three terms as mayor of San Antonio, Texas, from 2009 through 2013.

Mr. Castro will hold critical sway over housing policy, industry trends, allocations, budgeting, and the financial and political means by which communities will develop and grow. It will be interesting to see how his successful tenure as a community-oriented mayor of an up-and-coming U.S. city will inform his stances and priorities. During his tenure as mayor, he focused on revitalizing the city of San Antonio through numerous housing and economic development initiatives. Mr. Castro created economic growth by fostering partnerships between city projects, small businesses, and community leaders. He also draws support from and maintains strong working relationships with mayors throughout the country.

Mr. Castro is poised to be a dynamic leader. Needless to say, we are eager to see Mr. Castro bring his community-oriented visions to HUD.

 

Topics:  Confirmation Proceedings, HUD

Published In: Elections & Politics Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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