MassDevelopment Hires New Head of Finance Programs

October 02, 2025

Kelsey Schiller, 857-325-3477
kschiller@massdevelopment.com

BOSTON – Today, MassDevelopment announced that Kathleen (Kathy) McGilvray will join the agency later this month as executive vice president of finance programs. In this role, McGilvray will oversee MassDevelopment’s finance programs division – which includes investment banking, lending, growth capital, and green finance programs – and serve as a member of the agency’s executive team helping align its financing solutions with statewide economic development priorities.

“MassDevelopment is thrilled to welcome Kathy McGilvray, who brings a wealth of experience in community development finance and a strong record of leadership that will strengthen the work of the agency,” said MassDevelopment President and CEO Navjeet Bal. “Our team delivers a wide range of high-impact financing solutions to spur job creation and housing production in communities across Massachusetts, and we continue to innovate and expand our offerings to meet this mission. Kathy is the right leader to guide these efforts and we look forward to having her on board.”
   
McGilvray comes to MassDevelopment from Opportunity Communities (OppCo), an organization working to strengthen the capacity of community development corporations, where she has served as Chief Executive Officer since 2023. Prior to that, she worked at Massachusetts Housing Investment Corporation from 2003-2023 in numerous roles, including as Director of Investment. McGilvray holds a Master of Public Policy from Harvard University’s John F. Kennedy School of Government and a Bachelor of Arts in Economics and American Studies from Tufts University.  

“I am honored to join MassDevelopment as Executive Vice President of Finance Programs where I will help advance financing strategies that drive equitable growth across Massachusetts,” said Kathy McGilvray. “My time at Opportunity Communities reinforced my belief in the power of strong partnerships to expand affordable housing production and economic opportunity. I am confident that under Jessica Boatright’s interim leadership, OppCo will continue to build on this foundation and thrive during the transition.”

MassDevelopment, the state’s development finance agency and land bank, delivers financing solutions, real estate expertise, and other assistance to strengthen and grow the Massachusetts economy. We partner with businesses, nonprofits, developers, banks, and municipalities, providing resources to help create jobs, build housing, and foster vibrant communities across the state. During FY2025, MassDevelopment financed or managed 409 projects generating investment of more than $4.65 billion in the Massachusetts economy. These projects are estimated to create or support 25,246 jobs and build or preserve 2,867 housing units.