Sydne Garchik’s Impactful Mission | From 0 to 6,000 Affordable Units
Feb 5, 2025
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Sydne Garchik, the founder of MRK Partners and an expert in affordable housing, shares her inspiring journey in real estate. She discusses the hurdles women face in the industry and highlights her firm’s creation of over 6,000 affordable units. Sydne dives into the complexities of financing these projects and underscores the importance of local partnerships. Balancing motherhood and her career, she emphasizes female empowerment and community engagement, showcasing how strategic investments can reshape lives and communities.
Sydne Garchik's journey into real estate was shaped by her family's involvement, driving her passion for impactful and innovative housing solutions.
The complexity of affordable housing development necessitates creative financing strategies and compliance with government regulations to maintain affordability.
Sydne advocates for increased female representation in real estate, emphasizing mentorship and support to foster a more inclusive industry.
Deep dives
Journey into Real Estate
The speaker describes their personal journey into real estate, highlighting how their upbringing in a family involved in the industry influenced their career choices. From a young age, they were exposed to various facets of real estate, through their father’s work and their mother's legal background in construction. Their early desire was to create something impactful and innovative, which eventually guided them toward affordable housing development. This combination of familial influence and a personal drive for creativity led them to explore various aspects of real estate during their formative years.
Education and Career Development
The speaker discusses their academic journey, revealing a broad interest in subjects such as psychology, sociology, and logistics, rather than a strict focus on real estate. Post-college, they started their career in a mortgage brokerage, where they gained essential skills in underwriting and asset valuation during the financial crisis. This challenging period offered significant learning experiences, highlighting the cyclical nature of real estate, which required adaptability and creative problem-solving. Their time in this role solidified their understanding of the industry and positioned them for future successes in affordable housing.
Challenges and Innovations in Affordable Housing
The speaker emphasizes the complexity of affordable housing development, noting it requires a range of funding mechanisms, including tax credits and bonds. They explain that the goal is to maintain rent affordability for low-income residents, often targeting those earning significantly below the area median income. Navigating government regulations and ensuring compliance are critical to successful project execution, and the speaker enjoys the challenge of creatively structuring financing to address these issues. This approach not only benefits the projects financially but also aligns with their commitment to community welfare.
The Importance of Community Integration
The speaker reveals their company's strategic focus on integrating affordable housing developments into the communities they serve. This involves understanding community needs and addressing them through thoughtful development practices, rather than merely completing projects for profit. The addition of resident services and community resources aims to foster a sense of belonging and improve residents' quality of life. By actively engaging with the community, the speaker believes their company can create a meaningful impact and promote social equity in housing.
Empowering Women in Real Estate
The speaker passionately advocates for increasing female representation in the real estate industry, emphasizing the need for mentorship and networking opportunities. They highlight that women often feel intimidated in a male-dominated field and encourage women to seek out allies and advocates who can support their careers. The speaker also believes in the value of diverse backgrounds in the field, noting that success isn't confined to traditional roles. By creating a culture that supports women and recognizes varied skill sets, the speaker envisions a more inclusive and successful real estate environment.
Sydne Garchik is a highly accomplished and driven real estate professional with a proven track record in property investment, development, and management. Sydne has demonstrated expertise in affordable housing preservation, multi-family real estate acquisitions, and community-focused initiatives. Sydne is adept at fostering strategic partnerships and delivering exceptional results.
In 2015, Sydne established MRK Partners, a prominent real estate investment and management firm specializing in the acquisition, repositioning, preservation, and creation of affordable multi-family properties nationwide. Under her leadership, MRK has delivered over 6,000 affordable housing units across 25+ properties, with an additional 700 units in the pipeline. The company’s portfolio represents over $1 billion in assets, solidifying its impact in delivering sustainable housing solutions for underserved communities.
Sydne serves as the Chair of the Board of Directors for BLOOM, a 501c3 organization dedicated to creating equitable opportunities for upward mobility and fostering resilient individuals and thriving communities. BLOOM is steadfast in its commitment to delivering comprehensive support and resources that empower personal and professional growth. She is also a Board Member of UMiami’s School of Architecture MRED and is an active participant in the Women’s Leadership group.
Sydne lives in Florida with her husband and three young daughters.
