Thomas M. Farasy, President
Thomas M. Farasy is the President of Terra Verde Communities, LLC. With more than thirty years of experience, Mr. Farasy has led the development of numerous multifamily developments, using a broad range of ownership structures and financing arrangements.
Mr. Farasy is responsible for the development and construction of the FIRST, and current only, privately financed project at a METRO station in Prince George’s County, Maryland. Mosaic at Metro is a 260-home Class A Rental Community at the Prince George’s Plaza Metro Center, located on Metro’s Green line. Mosaic at Metro is the FIRST HUD-financed project at a METRO Transit Center in the Washington, D.C. region. This market-rate community serves HUD’s revitalization goals. Mr. Farasy defined, initiated, processed, and obtained all of the entitlements, permits, and financing for the Mosaic at Metro. The project was originated in 2002 and is approximately 50% complete today.
Mr. Farasy completed a 195-unit development in Germantown, Maryland. This project was financed via the HUD 221(d)(4) program, which insures mortgage loans for new construction or substantial rehabilitation for moderate-income families and individuals.
Mr. Farasy was the 2010 President of the Maryland State Builders Association (MSBA), and has remained active with MSBA. He has remained active in monitoring, lobbying of the many proposed Federal/State regulations and laws governing stormwater, erosion and sediment control, buffers, hazardous materials, and Clean Up the Bay Program.
From 2012 to 2016, Mr. Farasy was appointed to the Environmental Issues Committee of the National Association of Home Builders.
Mr. Farasy served as state Representative for Maryland at NAHB from 2013 to 2016.
Prior professional experience included The Bozzuto Group, Osprey Property Group, Perpetual Savings Bank, Interstate General Corporation and Arthur Andersen & Co.Mr. Farasy can be contacted at email@example.com.
Prince George’s Chamber of Commerce
- Chair, Economic Development Committee, 2013 to present
- Member, Board of Directors, 2017 to present
- Member, Executive Committee, Board of Directors, 2018 to present
- Chairman elect, Board of Directors 2019
- Milton E. Kettler Award, 2010. For lifetime achievement to the Building Industry.
- Maryland State Builders Association, President, 2010, and Lifetime Director. Leading building industry association with approximately 2,000 members in the state of Maryland.
- Purple Rail Alliance, Chairman of the Board, 2011 – Present
- Maryland-National Capital Building Industry Association (MNCBIA)
- President, 2009. To learn about the activities of MNCBIA, please click here.
- Board Member, 2001 – present
- MNCBIA Multi-Family Builders’ Council, Chairman, 1999 – 2006
- MNCBIA Prince George’s Liaison Committee, Chairman, 2007 – 2008; This Committee gives Mr. Farasy access to County officials in all departments and agencies. 2007 activities included improvement of DER’s permitting process and DPW&T’s plan regulations and interpretations. 2008 activities include defeat of proposed TDR legislation.
- Metropolitan Washington Builders’ Council, Member and Maryland Representative, 2007- 2009
- Victory Housing, Board Member, 2004 – 2008
- Mother Dear’s Community Center, a feeding and clothing center for homeless persons in Washington, D.C., Board Member, 1986 – 2007
- Real Estate MBA Program at American University, Adjunct Professor, 2002 – 2006; Guest Lecturer, 2001 – present
- Speaker at numerous events on critical areas, wetlands, and stormwater management as it relates to development. 2010-Present.