First Vice Chair Aileen Fuchs to assume chair responsibilities; Elizabeth Pollitt Paisner to represent Quadrangle Development Corporation on the board
WASHINGTON, DC – The DowntownDC Business Improvement District (BID) announced today that Board Chairman Michael McCarthy will retire from the board on December 31, 2026, recognizing his leadership and service to the organization and the Downtown DC community.
McCarthy, Corporate Vice President and Chief Acquisitions Officer at Quadrangle Development Corporation, joined the BID’s Board of Directors in fiscal year 2009 and has served continuously ever since. His tenure includes 18 completed years on the board, 17 years on the Executive Committee and 12 years as a board officer.
“Michael has been far more than a board chair to me. He has been a trusted advisor, a mentor, and an unwavering champion for Downtown DC,” said Gerren Price, President and CEO of the DowntownDC BID. “Throughout his nearly two decades of service, Michael has given generously of his time, wisdom, and leadership to help shape the Downtown DC we know today. Through periods of tremendous growth, unprecedented challenges, and now an exciting new chapter of revitalization, his dedication to this organization and our city has remained steadfast. I have been fortunate to have Michael as my board chair throughout my tenure as President and CEO, and I am deeply grateful for his guidance, his encouragement, and the confidence he has placed in me and our team. His legacy will be felt in Downtown DC for many years to come.”
McCarthy began his Executive Committee service as Treasurer in fiscal year 2010, holding the position for four consecutive years before beginning his first term as Chairman in fiscal year 2014. He later served as Second Vice Chairman in fiscal year 2020 and First Vice Chairman in fiscal year 2021 before returning as Chairman in fiscal year 2022. During his tenure, he helped guide the organization's work to strengthen downtown as a leading destination and a dynamic and diverse district that is green, livable and walkable.
At Quadrangle, McCarthy serves as the primary asset manager for the firm’s 8 million-square-foot commercial office, multifamily and hotel portfolio and helps direct acquisitions, dispositions, financing and investment analysis. Before joining Quadrangle, he was a leasing and investment sales broker in the Washington metropolitan region.
“Serving on the DowntownDC BID board has been a privilege, and I’m grateful to my colleagues and partners I’ve worked alongside over the years,” McCarthy said. “We have navigated significant changes together and I’m proud of the BID’s continued involvement and commitment to businesses, residents and visitors who make Downtown DC what it is today. I have great confidence in the entire BID team as they carry this work forward and I look forward to seeing this downtown area I love continue to grow and evolve.”
Michael McCarthy (left) will retire from the DowntownDC BID board on December 31, 2026, First Vice Chair Aileen Fuchs (right) to assume chair responsibilities
First Vice Chair Aileen Fuchs will assume McCarthy’s chair responsibilities. Fuchs joined the DowntownDC BID board of directors in 2023 and currently serves as First Vice Chair. Fuchs is also currently the President & Executive Director at National Building Museum, located in Downtown DC. In her capacity, Fuchs provides leadership to implement and oversee a progressive program for the Museum's fundraising, exhibitions, educational programs, visitor experience and community outreach. Fuchs was previously the President and CEO of the Snug Harbor Cultural Center & Botanical Garden in Staten Island, New York.
Elizabeth Pollitt Paisner, McCarthy’s colleague at Quadrangle Development Corporation, will also join the board as the company’s representative.
For any media inquiries please contact downtowndcbid@lindarothpr.com. Media assets can be found HERE.
About DowntownDC BID
Downtown DC is one of the most diverse and exciting neighborhoods in one of the most important cities in the world. Here, locals and visitors find all the most thrilling experiences of DC in 140 walkable and transit-rich blocks: shopping and dining; business, education and government; parks, art, music, sports, theater, history - adding up to a bright future. Founded in 1997, the DowntownDC BID’s area includes 530 properties and is defined by Massachusetts Avenue on the north, including the Walter E. Washington Convention Center at Mount Vernon Square, to Constitution Avenue on the south, and from Louisiana Avenue on the east to 16th Street on the west.
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