IRVINE, Calif., Sept. 17, 2025 (GLOBE NEWSWIRE) — Community Preservation Partners (CPP), a mission-driven developer dedicated to preserving and creating affordable housing, today announced the promotion of two seasoned leaders who will help guide the company’s national growth and its commitment to delivering high-quality communities across the country. John Fraser has been elevated to Senior Vice President of Development, while Bobby Syharath has been appointed Vice President of Asset Management.
Together, these promotions underscore CPP’s commitment to cultivating talent from within and ensuring the highest standards of development and asset management as the company continues to expand nationally. Fraser and Syharath will work hand in hand to align CPP’s rigorous development practices with standardized asset management approaches, ensuring that both new and established communities meet the company’s mission of providing safe, sustainable, and affordable housing for residents.
“As CPP grows into new markets across the country, these key promotions position us for continued success,” said Seth Gellis, President of CPP. “John and Bobby represent the very best of CPP – leaders who have grown with our company, embody our values, and set the standard for what it means to preserve and enhance affordable housing communities for generations to come.”
In his new role, Fraser will oversee CPP’s entire national development portfolio. Fraser began his career with CPP as a project manager focused on CPP’s East Coast development. Over the past several years, he has been instrumental in driving CPP’s expansion from a regional West Coast developer into a truly national platform.
Fraser has led some of CPP’s most complex and transformative preservation projects, including the $335 million rehabilitation of Andrews Terrace in Rochester, NY, which preserved 526 affordable units in a historic high-rise, and the $54.7 million redevelopment of Ellicott Park Townhomes in Buffalo, safeguarding 220 family units for the long term. His ability to structure innovative financing solutions and manage large-scale, high-impact transactions has made him a key influencer in the affordable housing sector.
In addition to his transactional success, Fraser has championed organizational initiatives to streamline and codify CPP’s development processes, enabling teams across the country to collaborate more effectively while preserving the entrepreneurial spirit that defines CPP’s culture. His leadership extends beyond projects, investing in team development and fostering a collaborative, mission-driven approach that strengthens both the organization and the communities it serves.
“CPP’s mission to preserve and create affordable housing has never been more important, and I’m grateful for the opportunity to help lead our development strategy on a national scale. From complex preservation projects to expanding into new markets, our work is about more than just buildings — it’s about ensuring families and communities have safe, sustainable homes for generations to come,” said Fraser. “I’m proud to be part of a team that combines innovation with impact every step of the way.”
Syharath brings more than 20 years of experience with the WNC & Associates family of companies, including CPP, to his new role. Having joined the company in an administrative role in 2005, Syharath steadily advanced through positions of increasing responsibility in finance, portfolio management, and asset management. Over the course of his career, he has overseen large, multi-state portfolios totaling thousands of affordable housing units, directed risk management and investor relations, and implemented operational systems that enhanced oversight and performance.
Moving forward, Syharath will lead CPP’s asset management team, ensuring standardized practices nationwide and applying the same rigor to both stabilized and non-stabilized assets. His expertise spans regulatory compliance, financial and operational strategy, and integration of new acquisitions — all while maintaining a resident-first focus. His deep knowledge of CPP’s history, portfolio, and culture uniquely positions him to elevate operational excellence and long-term sustainability across the company’s communities.
“Having spent more than two decades growing with WNC & Associates and CPP, I’m honored to step into this leadership role and continue building on the strong foundation we’ve created together,” said Syharath. “My focus will be on ensuring that our communities across the country are managed with the same rigor, consistency, and care — whether they are newly acquired or long established. At the end of the day, it’s about creating stability and the highest quality of life for the residents we serve.”
About Community Preservation Partners
In 2004, Community Preservation Partners was established by their parent company, WNC & Associates, a national investor in affordable housing and community renewal initiatives. Since then, CPP has successfully acquired, developed, and rehabilitated more than 15,000 affordable multifamily and senior housing units nationwide. From the very beginning, they’ve done things differently. As more than a consultant or an investor, CPP is a true partner in every sense. By joining leading nonprofits and strategic partners, they can provide essential social services to residents, support neighborhood initiatives and transform multifamily affordable housing communities. Creativity, Performance, and Purpose are their core values and embody everything they do. Together they define A Different Way to Home for their excellent employees, partners, and communities. To learn more, visit: https://www.cpp-housing.com/
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