The Michaels Organization, a national leader in residential real estate, is pleased to announce the promotion of Jonathan Lubonski to Executive Vice President, Affordable Development. In this new role, Lubonski joins Michaels’ Senior Leadership Team and has primary oversight for all of Michaels’ affordable development.
“Jonathan is a proven leader, with the skill, knowledge and, most importantly, the strategic vision to lead our affordable team into the future,” said Michaels’ CEO Mark Morgan. “He has a stellar track record of leading complex, large scale projects, leveraging his deep understanding of market trends, regulatory environments, and innovative financing mechanisms to deliver impact results.”
Since joining Michaels in 2013, Lubonski has successfully led the creation of new affordable housing developments throughout New Jersey, and has continually taken on more responsibility, first as Regional Vice President, and later Managing Vice President. Most recently, Lubonski served as Senior Vice President, a role in which he spearheaded the implementation of new technologies and established policies and procedures that drive operational efficiencies for Michaels’ development teams and the organization as a whole.
In 2023, Lubonski was named Michaels’ “Teammate of the Year,” in recognition of his achievements assisting our affordable housing development team with all aspects of the development process, including underwriting, debt, equity, transactions and closings, while continuing to work on his own development deals. Most recently, Jonathan has been instrumental in bringing modern, high quality affordable housing to some of the wealthiest counties in New Jersey, including the Residences at Choctaw in Bergen County, which will celebrate its grand opening Oct. 24th.
“We are grateful for Jonathan’s leadership, his commitment to lifting the lives of our teammates, as well as families across the country in need of affordable and attainable housing,” said Michaels Chief Investment Officer, Michael Flanagan. “We congratulate him on this well-deserved promotion and look forward to his success leading our affordable development team into the future.”
