BALTIMORE (AP) — Housing charity Habitat for Humanity of the Chesapeake has named a local development executive as its next chief executive.

Mike Posko, who was named to the position this week, is a principal with the Baltimore real estate consulting firm Cross Street Partners. Previously he was a developer with Struever Bros., Eccles and Rouse and at the Federal Reserve Bank of Baltimore.

Posko begins as CEO on Feb. 13. He succeeds longtime CEO Mike Mitchell, who stepped down late last year.

Habitat for Humanity expects to build 49 homes this fiscal year. It has an annual operating budget of about $15 million. The nonprofit sells homes to low-income buyers and keeps costs down by relying on volunteer work.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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