Peter McNally Executive Director
Peter McNally is the Executive Director of the I-195 Redevelopment District Commission. The Commission is charged with bringing to market 19 acres of land that was reclaimed after the relocation of a portion of route I-195 in downtown Providence, Rhode Island. Mr. McNally is a nationally respected professional who has a demonstrated passion for urban projects.
He spent most of his career in the investment management industry, focused within the real estate sector. As an investor he has been responsible for well over 100 real estate transactions which include large-scale mixed-use development projects as well as numerous historic and iconic building renovations in cities across the country, including San Francisco, New York, Los Angeles, and Chicago.
Before coming to the I-195 Redevelopment District Commission, Mr. McNally was Managing Director serving as head of BlackRock Real Estate’s Global Client Group in New York City. He was responsible for all capital-raising activity and client relations for approximately 300 institutional clients which included state and corporate pension funds as well as sovereign wealth funds, central banks, and other global financial institutions. He directed a staff based in the US and Europe, serving a client base that invested in a variety of risk/return mandates in real estate debt and equity.
Prior to serving in that role, Mr. McNally headed Black Rock's US Transactions Group with oversight for all acquisitions, dispositions, and capital market activities for BlackRock's $20 billion real estate platform. BlackRock’s Transactions Group was one of the largest in the US and its investment activities included the acquisition of office and residential properties, retail malls, and industrial buildings. In his role as Head of Transactions during the financial crisis, Mr. McNally directed all lender negotiations and restructurings on behalf of the entire platform. This effort comprised 92 individual workouts of approximately $10 billion of restructured debt. Mr. McNally also founded and served as Senior Portfolio Manager for Black Rock's flagship value-add, open-end real estate fund. From the time the fund launched in 2004, Mr. McNally grew it to 65 properties with a gross asset value of close to $3 billion, and it became one of the top-performing open-end funds in the US. The investment strategy focused on marquee, urban buildings in city centers across the country. The fund’s investor base comprises 70 clients, including many of the largest US financial institutions as well as several major international investors. Mr. McNally was responsible for establishing every aspect of the fund’s investment strategy, diversification program, and its capital structure. Earlier in his career, Mr. McNally was Senior Vice President of investments for GE Capital Investment Advisors in Boston, and prior to that he was with AEW Capital Management, also in Boston. Mr. McNally earned his B.A. degree from Boston University in 1987 and his M.A. from Massachusetts Institute of Technology in 1996.
Caroline Skuncik Vice President/Senior Project Manager
Caroline Skuncik is Vice President/Senior Project Manager for the I-195 Redevelopment District Commission. Prior to joining the Commission, Ms. Skuncik worked at the Rhode Island Commerce Corporation where she led the Corporation’s real estate investment activities under the Rebuild Rhode Island Tax Credit and Tax Increment Financing programs. She has also worked as a Senior Project Manager for Urban Edge Housing Corporation in Boston where she managed real estate development projects, focusing on affordable housing and other community-oriented projects. Other professional experiences include consulting positions in planning and environmental policy firms. Caroline has a Master in City Planning degree from the Massachusetts Institute of Technology and a B.A. in Sociology and Environmental Studies from the College of William & Mary.
Amber Ilcisko Operations Manager
Amber Ilcisko is the Operations Manager for the I-195 Redevelopment District Commission. Reporting directly to the Executive Director, Ms. Ilcisko directs all operational and managerial matters for the Commission including its financial affairs (both revenue and expenses), grants, staffing, overseeing the Commission’s vendor relationships, and administration. In addition, Ms. Ilcisko is responsible for the construction, planning and management of a seven-acre urban park which will deliver in 2019. She also coordinates all government affairs for the Commission working closely with the various departments of the City of Providence, as well as with all State agencies and other regulatory agencies with the Federal government. Ms. Ilcisko chairs the Commission’s Operating Committee, which is a team that convenes monthly to execute the Commission’s administrative and operational functions. Supporting the Executive Director, she also has primary responsibility for several of the Commission’s key contractor relationships such as civil and environmental engineering, communications, urban planning/design, and outside counsel. In this role, she negotiates fees as well as the contracts and is directly accountable for services and deliverables by these firms. Ms. Ilcisko also manages the Commission’s website which she designed. Prior to joining the Commission in 2015, she worked for the City of Providence for five years, serving three mayoral administrations. Most recently she worked with the City Planning Department. She held various roles with the City including roles with the Providence Redevelopment Agency, Arts Culture and Tourism and Economic Development. She has a master’s degree in Public Administration and Graduate Certificate in Community Planning from the University of Rhode Island and a bachelor’s degree from Bowling Green State University. Ms. Ilcisko earned her master’s while working full time.