Stephen R. Karp is one of the country’s foremost real estate developers, known for his creative and entrepreneurial approach to developing some of the country’s most successful mixed-use projects, retail destinations, and hospitality properties. His prescience and anticipation of lifestyle and real estate trends led him to enter the shopping center business in the late 1960’s with the development of one of the first enclosed malls in the Northeast, which opened in 1972. He went on to found New England Development shortly thereafter.

Under his leadership, New England Development has developed a national, robust portfolio of award-winning, mixed-use and master-planned projects; acclaimed retail destinations including regional shopping centers, outlet centers, street-front retail, and airport retail; plus, hotels, marinas, golf courses, and more.

Mr. Karp is a Trustee and Immediate Past Chair of the Board of Trustees of Boston Children’s Hospital and Trustee and Inaugural Chairman of Boston Children’s Hospital Trust Board. He serves as Board Chairman of Boston Youth Sanctuary, and he is on the Board of Trustees for Belmont Hill School. Mr. Karp previously was on the Board of Trustees of Boston University and is Past Chairman and current member of the Board of Trustees of the International Council of Shopping Centers. He is a graduate of Boston University.

Steven S. Fischman, together with Stephen R. Karp, has overseen the expansion of New England Development into a multi-faceted real estate development and investment company. Mr. Fischman has worked not only on the many developments overseen by the company but has also overseen investments in other real estate and non-real estate activities. Prior to joining New England Development, Mr. Fischman was a partner at the Boston law firm of Goulston & Storrs where he specialized in real estate and finance law. He represented developers and owners of all types of real estate including shopping centers, hotels, office projects, housing projects and industrial properties.

He is a former director of Partners Healthcare System and serves as co-chair of their Real Estate Committee. He is Trustee Emeritus and former Chairman of the Board of Newton-Wellesley Hospital, former Trustee of Kenyon College, and former Trustee and National Co-Chair of Bend the Arc: A Jewish Partnership for Justice. He serves on the Board of Trustees of William James College and is on the board of Jobs for Massachusetts. He is an Advisory Board member of General Catalyst Partners and Athena Capital Advisors.

Mr. Fischman received a B.A. degree from Kenyon College and a J.D. from the University of Pennsylvania Law School. He served in the Peace Corps in Colombia, South America.

Douglass E. Karp is involved in all aspects of New England Development’s business, including site acquisition, financing, permitting and planning, design, construction and leasing. He manages the firm’s retail and mixed-use development projects and works closely with New England Development’s family of companies, including White Elephant Resorts, MarketPlace Development, The Pinehills, Newburyport Development, and Old Sandwich Golf Club. He also serves as asset manager for White Elephant Resorts, a collection of premier hospitality and retail properties on Nantucket.

In addition to his development and asset management experience, Mr. Karp brings to New England Development the perspective of a retailer, including expertise in market research, real estate development, and marketing. Prior to joining New England Development in 1999, Douglass co-founded Lids, the specialty retail pioneer and leader of officially licensed and branded athletic fashion headgear. Under his leadership, the firm grew to include more than 400 mall-based, airport, and street level stores throughout the country.

Mr. Karp serves on the boards of Boston Children’s Hospital Trust, Boston Youth Sanctuary, Union College, and the Massachusetts chapter of NAIOP. Douglass also serves on the Board of M.Gemi. He received a B.S. degree from Union College and is a graduate of the Harvard Business School Owner/President Management Executive Education Program.

Scott directs the financial and investment activities of the Family Office at New England Development. His prior experience includes serving as Vice President at Athena Capital Advisors where he worked with families and institutions designing and implementing customized strategic and tactical asset allocations. Scott was also an Analyst in Athena’s research group and was with the State Board of Administration of Florida (Pension Board).

Scott received a B.S. in Finance and Entrepreneurship/Small Business Management from Florida State University. He has the Chartered Alternative Investment Analyst designation, and previously held the Series 65 license. Scott currently holds several board level positions for companies and organizations operating within the real estate, hospitality, retail, and venture capital industries.

Carol is responsible for all aspects of leasing for New England Development’s real estate portfolio, focusing on the company’s retail properties. With over 35 years of experience in the shopping center industry her accomplishments have included creating and executing merchandising and leasing strategies for numerous new ground up developments, expansions of existing shopping centers and ongoing merchandising and leasing of established properties.

Prior to joining New England Development, Carol worked in the shopping center industry for both developers and consulting firms. She received a B.S. degree in Business Management from Plymouth State University and is a licensed real estate broker. Carol is a member of the ICSC, holding the designation of Certified Leasing Specialist.

Paul manages the approval and permitting process of mixed-use developments for New England Development, overseeing consultant team selection and management, coordination with tenants and end-users, relationships with regulators and local interests, and leasing and construction during the various phases of a project, from diligence through construction implementation.

Prior to joining New England Development Paul was a project manager with Packard, a project manager with Epoch Senior Living, and an engineering consultant with several prominent Boston firms including Sasaki Associates, VHB and Rizzo Associate, where he was responsible for engineering design and permitting for transportation, commercial and residential development projects. He holds a Professional Engineer designation, and a B.S. in Civil Engineering from Merrimack College.

Michael oversees all development, leasing, and management for the firm’s airport projects including the Concessions Programs at Boston Logan International Airport and Philadelphia International Airport. Additionally, he leads all new business efforts for the company.

Prior to his role as President, Michael was MarketPlace’s Executive Vice President responsible for directing merchandising, leasing, and strategic planning. He was previously Vice President of Real Estate for Lids Corporation and held senior real estate positions at Sunglass Hut and Petrie Stores Corporation.

Michael received a BS degree in Finance from Old Dominion University and an MS in Real Estate from New York University. He is a member of ICSC and Airports Council International-NA.

James oversees all aspects of the planning and design of New England Development’s retail and mixed-use properties, including regional centers, outlet centers, street-front retail, neighborhood centers, and office buildings. His specific responsibilities include envisioning the design and development goals for each project, site planning, consultant selection, pricing, and ensuring that each project’s design intent is carried out through construction and completion.

Prior to joining New England Development, James was a Project Manager at Packard Development and Rizzo Associates. A Registered Professional Engineer, James is a member of ICSC with the designation as Certified Design Professional. He holds a degree from Wentworth Institute of Technology in Architectural Engineering where he has mentored numerous engineering students.

Scott Fisher is responsible for leasing New England Development’s retail properties. Prior to joining New England Development, Scott held several positions at The Mills Corporation in Washington, DC. He also worked at Prime Retail in Baltimore, MD as Vice President of Leasing, and was Co-Founder and Principal of FFO Real Estate Advisors, a full-service leasing and development advisory firm also based in Baltimore, MD.

Scott holds a B.S. degree in Community Development Studies from The Pennsylvania State University and has held Real Estate Licenses in the state of Pennsylvania and Maryland. He is a member of the ICSC and has served on various neighborhood historic preservation and design committees.

Tony is Managing Partner for The Pinehills in Plymouth, Massachusetts which has earned over 100 awards as one of the nation’s most celebrated examples of thoughtful planning and design. Integrating buildings and homes into the forested landscape changes the feel of this new New England town and its 2500 homes, 930 apartments, more than 30 shops, restaurants, and businesses, including Forbes 4-Star Award-winning Mirbeau Inn & Spa, and The Market in the walkable Village Green. He is a third-generation builder and former Green Company principal, holding both a BA and a Master’s in Planning from Harvard.

Tony has served on the Harvard Real Estate Academic/Initiative Board, NAHB Executive Committee, the Neighborhood and Urban Revitalization ULI Councils, and has lectured at MIT, Harvard, Tufts, and the EPA.

As President of White Elephant Resorts Khaled oversees overall operations, finance, and marketing for luxury properties on Nantucket Island, Palm Beach, and The White Elephant Aspen (opening 2025). Khaled has over thirty-five years of experience within the hospitality industry. Previously he worked with Four Seasons Hotels, Marriott Hotels, and Renaissance Hotels & Resorts in the U.S., Mexico, and the Middle East.

Khaled earned a B.B.A. from the University of Texas at Dallas and attended executive training programs at Cornell University and the Culinary Institute of America. He is a board member of the Massachusetts Lodging Association and a previous board member of the Nantucket Chamber of Commerce, Nantucket Holiday for Heroes, Nantucket Boys & Girls.

As Executive Vice President and Controller, Bruce Herman oversees all administrative, financial, investment and treasury management for New England Development and its family of companies and Family Office. Bruce manages all reporting requirements for various joint venture partners and third-party management contracts. He joined NED in 1983, later serving as Chief Financial Officer at Liberty Properties in Boston, before returning to the company in 1990.

Bruce is a graduate of Bentley College and is a member of the American Institute of Certified Public Accountants, the Massachusetts Society of Certified Public Accountants, and the ICSC. He has also served on the Town of Needham Council of Economic Advisors and was Treasurer of the Needham Sports Council.

Tad Lee works in the Development and Leasing departments at New England Development. His responsibilities include the acquisition and development of new projects and the expansion of existing shopping centers. He oversees all office and life science leasing and development including the current redevelopment of CambridgeSide in Cambridge, MA, and the development of Allston Yards in Boston.

Prior to joining New England Development, Tad was a Senior Vice President and Partner at Colliers International where he represented a wide array of clients, leasing and selling over one million square feet of office and laboratory space during his tenure. Tad received a B.A. degree in English from Union College and graduated from Deerfield Academy. He resides in Beacon Hill.

Kenneth A. Leibowitz is responsible for all aspects of New England Development’s real estate capital markets transactions including all acquisitions, dispositions, joint ventures, and financings. He has more than 25 years of experience in the industry and joined New England Development in 1993. Mr. Leibowitz has guided all of New England Development’s portfolios and assets through due diligence, underwriting, structuring, negotiating and closing. Transactions have included New England Development’s numerous retail projects, along with mixed-use, hospitality, residential and office properties. As part of his responsibilities Mr. Leibowitz has transacted and partnered with landowners, developers, banks, life companies, financial partners and REITS.

Prior to joining New England Development, Mr. Leibowitz was a Vice President for the predecessor firm to HFF, Inc. in Boston working on financing, joint ventures and sales of commercial real estate. He received a B.S. Degree in Accounting from Georgetown University, and is a member of the International Council of Shopping Centers, the Pension Real Estate Association and the Real Estate Finance Association and is on the Board of Overseers for Newton Wellesley Hospital.

Sarah manages all aspects of the development of new real estate projects, from conceptual design through construction completion, where she oversees consultant teams, manages the design and entitlement processes, and project schedules and budgets. She is managing the redevelopment of CambridgeSide from an urban, retail center into a mixed-use center with over 1,000,000 square feet of new first-class lab/office space, retail/restaurant, and residential uses.

Prior to joining New England Development, Sarah was a partner at the law firm of Hinckley Allen and began her career as an attorney at Goulston & Storrs. She is a graduate of Northeastern University School of Law and Middlebury College, and a member of the Medfield (MA) Planning Board.

Bill is responsible for all aspects of construction and development on New England Development projects, including White Elephant Resorts. He joined New England Development after two years as a construction consultant to the company.

Over his four decades in the industry, Bill has overseen the development and construction of major shopping centers and the conversion of the Reading landfill into a state-of-the-art retail center. He has served as Director of Construction and Development at Stop & Shop corporate headquarters, and prior to joining New England Development was founder and CEO of Pinnacle Partners and Pinncon Construction. Bill holds a degree in Construction Management from Wentworth College and is a Certified Design Development Professional, a member of ICSC, and a member of Associated General Contractors.

Liam manages all accounting, lease administration, treasury management, tax, and financial reporting for New England Development. He leads a team of experienced accounting and financial reporting specialists who provide analytical support to the finance, leasing, property management, development, and construction teams. Prior to rejoining New England Development in 2014, where he had worked from 1992 to 1999, he was Chief Financial Officer at The Congress Group and a Senior Manager in Ernst & Young’s Real Estate Advisory Services practice.

Liam has a BA in Economics from Middlebury College, and an MBA from the F. W. Olin School of Business at Babson College. He is an active member of the International Council of Shopping Centers.

Diane oversees all employee relations, staffing, compensation administration, benefit management and design, recruitment and retention initiatives and policy creation for New England Development and its family of companies. Diane joined New England Development in 2008 and has over 25 years of experience in human resources management in a variety of different industries.

Prior to joining New England Development, she was with Palladium Group, a 300-employee professional services firm where she was responsible for all human resource functions including managing national and international compensation and benefit plans. Diane received a BS from the University of Massachusetts, Amherst, and her MBA from Babson College. She is a member of the Society for Human Resource Management.

Jennifer oversees corporate and property marketing for New England Development including leasing-related and property marketing for retail, outlet and mixed-use destinations including the redevelopment of CambridgeSide and development of Allston Yards. She directs branding, advertising, events, grand openings, social media, and public relations for properties including Chestnut Hill Square, Outlets of Des Moines, Nantucket Island Retail and Newburyport Development.

During her twenty-five years at the company, she has served as marketing director, senior marketing director and vice president property marketing. She is an ICSC certified marketing director and received multiple MAXI awards showcasing innovative programming. She holds a BA in Business from Gordon College and is an advisory board member of The Salvation Army of Cambridge.

Deborah Sedares is President and General Counsel for Pinehills LLC. She has been on The Pinehills leadership team for over twenty-four years, previously serving as Executive Vice President and General Counsel. As President, Deb oversees strategic planning, land use development, financial management, permitting, construction management, marketing, site operations, regulatory compliance, conveyancing, contracting, and community association governance for the Plymouth-based mixed-use development.

Prior to joining The Pinehills, Deb was Secretary and General Counsel for the Providence and Worcester Railroad Company, General Counsel for the Worcester Redevelopment Authority, and Assistant General Counsel for the Massachusetts Turnpike Authority. Deb is a graduate of Suffolk University Law School and Wheaton College. Deb is a licensed attorney in both Massachusetts and Rhode Island.

Issie Shait oversees the management of New England Development’s retail and mixed-use properties, including regional and outlet centers, street-front retail, office buildings, marinas, and restaurants. He works extensively with development and leasing on future and redevelopment projects. With more than 30 years of experience at New England Development, Mr. Shait has comprehensive experience in retail management, budgeting, leasing, operations, and marketing.

Prior to working at New England Development, Mr. Shait served in managerial and buying capacities at Lord & Taylor, Macy’s, B. Altman & Co., and Filene’s. He is a member of the International Council of Shopping Centers and achieved the designation of Certified Shopping Center Manager.

Kurt Sjostedt, Senior Vice President, Construction brings over 25 years of experience to New England Development where he oversees construction on projects including the development of Chestnut Hill Square, Pier 4, University Station, White Elephant Palm Beach, and 20 CambridgeSide; and the renovations of CambridgeSide, White Elephant Nantucket and Westgate Mall.

Kurt joined New England Development in 2005, after six years as a civil engineer and project manager at Tetratech (formerly Rizzo Associates). He graduated magna cum laude from the University of Massachusetts Amherst with a Bachelor of Science degree in Civil and Environmental Engineering and is a Registered Professional Engineer.

John E. Twohig oversees all real estate projects at the company with an expertise in complex land use projects, zoning and permitting matters, land acquisitions, title issues, structuring of joint ventures, and financing arrangements. He is involved in projects in Nantucket and Newburyport, where the company maintains a wide variety of hospitality, retail, restaurant, and residential properties.

Prior to joining New England Development in 2017, John was a Senior Partner at Goulston & Storrs specializing in real estate and finance. John received his JD from Boston College Law School and his BA from Boston College, Summa Cum Laude/Phi Beta Kappa. He is a member of the Real Estate Bar Association of Massachusetts, and former Chairman of Old Colony, one of the largest and most diverse YMCA/social services organizations in New England.