Thomas M. Farasy, President

Thomas M. Farasy is the President of Terra Verde Communities, LLC.  With more than thirty years of experience, Mr. Farasy has led the development of numerous multifamily developments, using a broad range of ownership structures and financing arrangements.  He also serves in an advocacy role for the Maryland State Builders Association and other multifamily housing interests both in Maryland and nationally.

Mr. Farasy is responsible for the development and construction of the FIRST privately financed project at a METRO station in Prince George’s County, Maryland.  Mosaic at Metro is a 260-home Class A Rental Community at the Prince George’s Plaza Metro Center, located on Metro's Green line.  Mosaic at Metro is the FIRST HUD-financed project at a METRO Transit Center in the Washington, D.C. region. This market-rate community serves HUD’s revitalization goals.  Mr. Farasy defined, initiated, processed, and obtained all of the entitlements, permits, and financing for the Mosaic at Metro.  The project was originated in 2002 and is approximately 50% complete today.

Mr. Farasy is also working with the University of Maryland on a 300-unit intergenerational condominium project adjacent to the flagship campus of the University in College Park, Maryland.  Known as Mosaic at Turtle Creek, this luxury Community will involve a public-private collaborative to bring the intellectual assets of the University to the residents of this condominium community. The project's preliminary plan went to record plat in 2009 and the Detailed Site Plan was approved in November 2008. Mr. Farasy has extensive relationships with the Mayor and City Council of College, Park, Maryland National Capital Park and Planning Commission, the County Council and key Prince George’s County departments and agencies, all of whom are necessary to keep the entitlements current.

Additional current projects include a 195-unit development in Germantown, Maryland. This project will be financed via the HUD 221(d)(4) program which insures mortgage loans for the new construction or substantial rehabilitation for moderate-income families and individuals.

Mr. Farasy was the 2010 President of the Maryland State Builders Association (MSBA), with approximately 2,000 members in the state of Maryland.  The MSBA is facing an unprecedented onslaught of Federal/State regulations and laws governing stormwater, erosion and sediment control, buffers, hazardous materials, and Clean Up the Bay.

Mr. Farasy was the 2009 President of the Maryland-National Capital Building Industry Association (MNCBIA) , and has been on the Board of Directors for the past eight years. As President, Mr. Farasy set an ambitious agenda to foster real estate development in tough economic times by easing development restrictions and fees with local governments. Since 2007, he has been the Chairman of the Prince George's County Liaison Committee. The Committee represents the building industry on regulatory and legislative matters in Prince George's County.

Prior professional experience included The Bozzuto Group, Osprey Property Group, Perpetual Savings Bank, Interstate General Corporation and Arthur Andersen & Co.

Mr. Farasy can be contacted at tomttc@msn.com.

Leadership

Professional Affiliations & Awards

Milton E. Kettler Award, 2010. For lifetime achievement to the Building Industry.

Maryland State Builders Association, President, 2010, and Lifetime Director. Leading building industry association with approximately 2,000 members in the state of Maryland.

Purple Rail Alliance, Chairman of the Board, 2011.

Maryland-National Capital Building Industry Association (MNCBIA)

President, 2009. To learn about the activities of MNCBIA, please click here.

Board Member, 2001 - present

MNCBIA Multi-Family Builders' Council, Chairman, 1999 – 2006

MNCBIA Prince George’s Liaison Committee, Chairman, 2007 – 2008;  This Committee gives Mr. Farasy access to County officials in all departments and agencies.  2007 activities included improvement of DER’s permitting process and DPW&T’s plan regulations and interpretations. 2008 activities include defeat of proposed TDR legislation.

Metropolitan Washington Builders' Council, Member and Maryland Representative, 2007- 2009

Victory Housing, Board Member, 2004 - 2008

Mother Dear’s Community Center, a feeding and clothing center for homeless persons in Washington, D.C., Board Member, 1986 – 2007

Real Estate MBA Program at American University, Adjunct Professor, 2002 - present; Guest Lecturer, 2001 - present

Speaker at numerous events on critical areas, wetlands, and stormwater management as it relates to development. 2010-2011.