GBX Group CEO Drew Sparacia Joins Up for Growth Action Board of Directors
Washington, DC – Up for Growth Action, a federal advocacy organization that advocates for policies to achieve housing equity, eliminate systemic barriers, and create more homes, today announced the appointment of Drew Sparacia to its board of directors. Sparacia is Founding Partner and CEO of Cleveland-based GBX Group, a real estate investment firm specializing in preserving, revitalizing, and operating historic properties.
“We are excited to welcome Drew to Up for Growth Action,” said Up for Growth CEO Mike Kingsella. “Drew brings extensive experience in urban housing and neighborhood revitalization and is highly regarded in communities nationwide that are confronting an urgent housing crisis. His work with Up for Growth Action will be vital as we continue to advocate for effective reforms among federal, state and local leaders who are working to advance pro-housing policies.”
Under Sparacia’s leadership, GBX Group has become a leading real estate company that has completed more than 200 projects in 24 states. Since its founding in 2001, the company has grown significantly by maximizing market opportunities and by incorporating federal, state, and local tax and other incentives into the acquisition and revitalization of historic properties in urban markets. GBX Group raises capital for these projects, which transform neighborhoods, stimulate economic growth, and preserve the cultural and historic fabric of the community. With 30 years of experience in leveraging tax incentives into everyday business transactions, Drew is responsible for carrying out the company’s mission to achieve the legislative intents of these programs.
Sparacia began his career with Ernst & Young LLP and was later Director of Finance at STERIS Corporation. He received his Bachelor of Arts degree in accounting from Ohio Wesleyan University and his JD/MBA from Case Western Reserve University with concentrations in tax and finance.
“Up for Growth Action is one of the most innovative organizations in the country, offering real solutions and spurring meaningful progress toward an end to a nationwide housing crisis that is crippling families and local communities. GBX has a long track record of investing in and completing adaptive reuse projects that lead to urban revitalization, breathe new life into disadvantaged communities, and improve the neighborhoods where local residents live and work,” said Sparacia. “I look forward to collaborating with Up for Growth Action to improve and expand upon federal programs and policies that spur urban renewal and increase much-needed housing options for our workforce. This national group of thought leaders is committed to removing the obstacles and inequities that stand in the way of creating housing solutions that urban communities need to grow and thrive.”
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Up for Growth Action® is a 501(c)(4) federal legislative advocacy organization that advocates for policies to achieve housing equity, eliminate systemic barriers, and create more homes. Up for Growth Action is affiliated with Up for Growth®, a 501(c)(3) cross-sector member network committed to solving the housing shortage and affordability crisis through data-driven research and evidence-based policy.