Kimberly Sherman Stamler is president of Related Beal, a real estate development firm specializing in residential, commercial, and mixed-use properties in urban areas, including Boston. She’s also a Class B member of the Board of Directors at the Federal Reserve Bank of Boston. Class B Directors are elected by member banks to represent the public. We spoke to Stamler about her career and her focus on expanding affordable housing.

What is Related Beal, and how are you making an impact in New England?

Related Beal is a real estate development firm that focuses on developing, building, and investing in New England’s landscape through collaborative approaches that consider the needs of our neighborhoods, cities, and communities. Related Beal is one of the largest developers in the preservation of affordable and workforce housing in the country.

We’re making an impact in New England by investing in communities. We’re creating vibrant places for people to live and work and inclusive spaces to come together. Whether we are building a mixed-income residential development or a corporate headquarters, our goal is for our projects to further enhance people’s lives and create opportunities.

What is urban design, and what role does it play in our communities?

People approach urban design in different ways, but for us at Related Beal it’s thoughtful and large-scale planning across neighborhoods, cities and regions that meets a community’s current and future needs in an equitable way. When thinking about urban design, we think about how to build and create environments that will lead to more engaged communities and reflect the neighborhood’s existing character. For instance, we are always thinking about how we can create housing that people are excited to come home to, and the broader landscape around that housing, including public spaces and transportation options. That is why with our developments, for example, we have focused on rebuilding waterfronts, creating green spaces, and investing in public-private partnerships.

When did you realize you were interested in commercial real estate, and how did your career grow at Related?

At a young age, I was excited by the vibrancy of cities. I have always been fascinated by the different components that make up cities and how they vary across neighborhoods, geography, and industries.

My journey in this industry started when I was an intern at Related’s New York City office. I joined the firm full-time after I graduated, and I was fortunate early in my career to work on all aspects of our business in parallel with the growth of the company. When Related decided to expand to Boston, we formed Related Beal in 2014. I moved here to be the chief operating officer. The business continued to evolve to include new asset classes and grow geographically, and I ultimately became president in 2016.

What are some of the biggest issues facing the housing sector?

Our region is a terrific place to live, but over the years housing production hasn’t kept up with housing needs for several reasons, including the cost of construction, lifestyle changes, and inflation. Since our company was founded on affordable housing, we are focused on preserving and investing in existing housing and housing production.

Ultimately, if we are going to increase our housing supply, we need more public-private partnerships. For instance, we created a public-private partnership to build a project called The Beverly. It is a 239-unit, 100% income-restricted housing unit in downtown Boston. We need to do more of that to keep up with our growing communities.

Why did you decide to join the Board of Directors at the Boston Fed?

I am really honored to be on the Board of Directors and to have the opportunity to interact with an amazing group of thought leaders who are assessing all areas of economic conditions and monetary policy. Directors are expected to provide local expertise and report on economic developments in their industries. I appreciate the opportunity to either act as a sounding board or as a resource to share information from my sector. I enjoy learning from the other leaders and contributing to our region and nation in a civic way.