Our Leadership
JAMES J. SCHMID
Founder/Chairman
During his 43-year career, Jim’s responsibilities have included project acquisition, financing, design, construction, marketing and property management of commercial, industrial and residential projects throughout the country. Since 1992, he has focused on development of affordable housing. A respected authority in all aspects of real estate development and management, Jim is a former lecturer for the MSRE degree program at University of San Diego, Past Chairman of the San Diego Building Industry Association, and sought-after panelist and speaker. He is a passionate advocate for the creation and preservation of safe, accessible, and affordable housing; his service to the industry has recently been acknowledged by his induction into the Building Industry of San Diego Hall of Fame.
In addition to growing Chelsea to a company of over 100 employees and a development portfolio of $3 billion, Jim is an attorney with an advanced degree in tax law. As Chairman, he is involved in strategic management of Chelsea and its affiliates.
CHARLES SCHMID
Chief Executive Officer
Charles has been with Chelsea since 1986. He co-founded Chelsea’s affiliated general contractor, Emmerson Construction and serves as its CEO. He applies experience with real estate finance, development, and management to facilitate the needs of both companies. He is licensed general contractor and graduated from the University of California, San Diego. Charles has supervised the construction of more than 8,500 apartments in Southern California, New Mexico, and Arizona. He has a thorough understanding of the life cycle of apartment development, from feasibility analysis through operations and disposition.
CHERI HOFFMAN
President/Chief Investment Officer
Cheri has been part of the Chelsea development team since 1994 and has participated in the development of over 125 affordable apartment communities, involving over $2 billion in financing. She is an authority in financial modeling incorporating tax credits and tax-exempt bonds, and has extensive experience securing multiple forms of local, state, federal and private funding sources. She leads the finance team and is involved throughout the development process, from early feasibility analysis to lease up and stabilization. Cheri received her degree in Accounting from California State University in Fullerton and continued her education with finance studies at California Polytechnic University in Pomona.
JIM ANDERSEN
Chief Development Officer
Jim has over 30 years of experience in a variety of roles in the Real Estate industry. Proficient in both Financial Management and Development, Jim has served as a Development Partner and executive for Legacy Partners, Del Mar Development, Trammell Crow Company and NMS Properties. In his career, he has sourced, entitled, financed and/or completed several thousand units in California. In addition, Jim was Chief Financial Officer for Bay Apartment Communities (predecessor to Avalon Bay), and Trammell Crow Company. Jim is very active in the industry as a member of ULI and NMHC. He earned his CPA while at Peat Marwick and Company and graduated from Loyola Marymount University with a BS in Accounting.
ERIC PAUL
Chief Financial Officer
Eric has over 20 years of experience in a variety of areas of the real estate industry including real estate investment and development, finance, construction and asset management. He oversees financial planning and analysis, financial reporting, treasury, tax strategy and risk management for Chelsea Investment Corporation, Emmerson Construction, CIC Management and affiliates. Eric began his professional career at Ernst & Young and most recently served as Finance Director for Southwest Value Partners. Eric graduated with honors from San Jose State University where he earned a Bachelor’s in Business Administration. He also holds a Master’s in Accounting from the University of Virginia. Eric is a Certified Public Accountant and real estate broker.
David Potter
Director of Development
David has over 18 years of experience in multifamily/mixed-use development, financing and asset management in southern California. As a Director of Development with Chelsea Investment Corporation, David oversees a team of development professionals with a portfolio of 18 active projects throughout California, Arizona, Nevada and New Mexico. He brings a wide range of experience in the multifamily and commercial sectors, including acquisitions, institutional asset/portfolio management, development, dispositions, and finance. David has been involved in the planning and development of over 8,000 units across Southern California and Arizona, including affordable, market rate and for-sale product. David currently sits on the Board of Directors for two local nonprofit organizations: the Downtown San Diego Partnership, which focuses on the economic development of Downtown San Diego, and HomeAid San Diego, who partners with local homeless shelter providers. David holds a Master’s of Real Estate Development from the University of Southern California and a Bachelor’s of Science in Business Administration from the University of California, Berkeley.