Reznick Left a Giant Legacy in Affordable Housing

Published by Michael Novogradac on Wednesday, January 7, 2015 - 12:00am

The affordable housing community lost a giant when David Reznick died at his home in Washington, D.C., on New Year’s Eve. He was 77.

David was the co-founder and chairman of the board of the Reznick Group and a pioneer in the affordable housing industry. He co-founded Reznick, Fedder & Silverman in 1977 and saw it grow into a top-20 accounting firm before merging with J.H. Cohn in 2012 to form New York-based CohnReznick LLP.

If David wasn’t the George Washington of the modern affordable housing movement, he was at least one of the Founding Fathers. He worked with the Department of Housing and Urban Development (HUD) on cost certification compliance as early as 1968, testified before Congress and gave counsel to developers, syndicators and lending institutions throughout his career.

CohnReznick’s description in the announcement of his death was accurate: “David was . . . a legend and visionary in the affordable housing industry that he helped create nearly 40 years ago.”

David won numerous other awards and honors during his career and was the founding member of the Jewish Foundation for Group Homes. He was also involved in fundraising for the research and treatment of breast cancer, children’s cancer, muscular dystrophy, leukemia and lymphoma.

David is survived by his wife, Sandra, and their children Steven (and Lydia), Jodie (and Phil), Mitchell (and Diana) and Laura (and Alex), as well as nine grandchildren.

His funeral was Jan. 4 at Temple Beth Ami Synagogue in Rockville, Md.

Thanks to David’s work, thousands of families found housing. As we reflect on his legacy, we realize this: The affordable housing world is worse off without him, but better off because of him.