Jacqueline Tom ’11

Finds Fulfillment Guiding a New York City Housing Nonprofit

It’s widely reported that New York City is facing an affordable housing crisis. Over a quarter of all households spend 50% or more of their income on rent. For nearly half of all households, more than 30% of their income goes to rent. The pandemic has only made matters worse for the city’s rent burdened, who now have to navigate the end of the statewide eviction moratorium.

One of the local nonprofits working to address this crisis is Settlement Housing Fund, Inc. (SHF), which has created and sustained high-quality affordable housing and related community development programs in New York City since 1969. Jacqueline Tom is the organization’s general counsel, a role she started in recently as the next step in a career that has taken her from private practice to work in the public interest.

Growing up in Rego Park, Queens, Tom saw her family’s three-bedroom home as the realization of the American dream. “My parents, both of Chinese descent, purchased our house in the 1970s,” she says. “It was a different time then. Interest rates were higher and money market funds yielded greater returns. Two people, neither of whom had a bachelor’s degree, were able to spend conservatively (I’m told they ate a lot of noodles) to save up and buy a house while also raising two children.” As a student at St. John’s Law, Tom continued to build on the foundation her parents set as industrious homeowners. After graduating, she worked as an associate at a large law firm, but soon realized it wasn’t a good fit. “Some people thrive at big law firms, but I’m not one of them,” she shares. “I was falling asleep at my desk so often that I brought a pillow and blanket to the office so I could take naps under my desk. The combination of stress and sleep deprivation eventually led to a diagnosis of major depression.”

Even with all the clear signs of overload and overwhelm, Tom says, she tried to push through. “I wanted what my parents had—a three-bedroom house in a nice neighborhood. Then, one night, I overheard them whispering to each other. My dad was concerned about how tired I looked, and about the fact that I was 30 and still single. My mom replied: ‘Don’t worry. She won’t be working like this forever. This is only a steppingstone.’ When your Asian parents are worried about you working too hard, you’re definitely working too hard.”

With that parental nudge, Tom left big law for the New York City Department of Housing Preservation and Development, where she rose through the ranks to become associate general counsel. Her job as an advisor there focused primarily on the rehabilitation and preservation of the city’s aging stock of affordable housing. It was exciting work in an industry she came to love.

“What many people don’t realize is that public sector work can be so much more challenging than private sector work, and much more fascinating,” Tom explains. “In New York City, when politicians, policymakers, government agencies, real estate developers, private financial institutions, nonprofits, investors, and all of their lawyers come together to create an affordable housing project, you often end up with an extremely creative deal structure and an ownership chart that closely resembles a large family tree covering the last 200 years. Funding sources for these projects vary, and federal, state, and local laws all come into play—and don’t always play nicely. It’s issue spotting heaven.”

That same fascination drives Tom now, as she guides affordable housing projects and programs at SHF. As a corporate officer and board member, she has a seat at the decision-making table and welcomes the responsibility that comes with it. “New York City needs innovative, affordable housing solutions,” she says. “SHF has broadened, and continues to broaden, its involvement in various initiatives, developing housing both on its own and in partnership with private developers. It’s a privilege to support its efforts. I may never own a three-bedroom house in New York City, but I have more than enough as I do this important and fulfilling work.”