Karmen Cheung
Regional Vice President, New England
As Regional Vice President Karmen Cheung is responsible for the execution and continued growth of Pennrose’s development pipeline within the New England area. She oversees a team of developers that are responsible for all aspects of the real estate development process from initial conception through entitlements, construction, lease-up, and stabilized occupancy or sale.
Karmen joined Pennrose over eight years ago and was promoted to Regional Vice President in 2025. As someone who grew up in affordable housing, Karmen is passionate about furthering Pennrose’s mission of creating safe and stable communities for families. While at Pennrose, she has closed on affordable housing developments totaling over $170 million and almost 400 units, including the closing and development oversight of The Pryde, Boston’s first LGBTQ+ affirming senior housing project totaling more than $40 million in development cost.
She also led the development and completion of several historic rehabilitation affordable housing developments, including Mary D. Stone School, in Auburn, MA, which was the AHF Readers’ Choice Historic Rehab and Overall winner in 2022. She also spearheaded various brownfield, transit-oriented redevelopments, including Riverfront in Torrington, CT and Parcel B in Naugatuck, CT.
Karmen has a Bachelor of Arts in Environmental Studies from Yale University and a Master of City Planning and Master of Science in Real Estate Development from Massachusetts Institute of Technology. She serves on the Advisory Committee of the Professional Women in Construction Boston Chapter.