President
Henry Flores is the President of Madhouse Development Services, Inc. which was established in the mid-1990s by a group of housing and community development professionals who were segueing from local and state government to the private development sector. Henry committed the first 20 years of his career to public service with 15 years of tenure in local government followed by his appointment by Governor Ann Richards as the first Executive Director of the Texas Department of Housing and Community Affairs. He continued to serve in that capacity under George W. Bush and subsequently was appointed Chairman of the Federal Home Loan Bank by President Bill Clinton and then again by President George W. Bush serving both Democratic and Republican administrations at the state and federal levels.
Henry was formerly the Vice President of Public Finance for RBC Dain Rauscher. His practice focused on facilitating the efforts of public agencies and not-for-profit corporations who were seeking to maximize operating revenue, create additional physical assets and provide affordable housing. He is the former President of the Texas State Affordable Housing Corporation (TSAHC). During his tenure, Mr. Flores oversaw and coordinated the issuance of over $600 million in bonds that helped TSAHC ensure the availability of single-family mortgages for its targeted consumers and facilitated the development of over 11,000 units of affordable multi-family housing.
Previously, Mr. Flores was a partner in Flores Elizondo, a Texas-based corporation dedicated to developing apartment communities utilizing the syndication of Low Income Housing Tax Credits. In addition, Flores Elizondo was active in providing housing related consulting services to the federal government, corporate clients and community-based non-profits including the U. S. Department of Housing and Urban Development, the Federal Deposit Insurance Corporation, PriceWaterhouseCoopers, Allstate Insurance, and the San Antonio Housing Authority.
Madhouse has participated in the development of conventional market-rate apartment projects though its primary focus is on the financing of complex affordable housing transactions via a number of local, state and federal funding sources. In an intensely competitive environment, the principals of Madhouse have compiled a highly successful record in receiving awards via the Housing Tax Credit Program (HTC). Since its inception, the principals of Madhouse have developed over 5,000 units of affordable housing at a total investment exceeding $650MM. The company has chosen to concentrate its efforts in Texas, due to the large low and moderate income population base and the lack of availability of quality, affordable multifamily communities though it has also experienced success in Mississippi and Colorado.
Henry is a native Texan and the grandson of Mexican immigrants. He possesses a Bachelor's Degree from Yale University and a Master's Degree in Public Administration from Harvard University. He served on the Board of Commissioners of the Housing Authority of the City of Austin, the Austin Affordable Housing Corporation, the Community Land Trust of Austin and the Southwest Housing Compliance Corporation for fourteen years from 1999 to 2013 serving as Chairman of the Board for thirteen of those years. During his tenure, he was chosen by the National Association of Housing and Redevelopment Officials (NAHRO) as the "Commissioner of the Year" for both the state of Texas and the Southwest Region.
He previously served on the boards of the National Housing Trust, the Texas Housing Finance Corporation and the Rural Development Finance Authority. He was one of the founding members and first president of the National Hispanic Housing Council. In addition, Henry’s commitment to affordable housing was recognized when he received the Award of Merit from the Texas State Bar Association, was named one of the Most Prominent Hispanics in Texas by Hispanic Magazine, and was selected by the White House to serve as a member of the U.S. Delegation to the United Nations Conference on Human Settlements held in Istanbul, Turkey.
