Ignacio Montojo serves infrastructure and real estate developers and investors, international finance institutions, and public agencies in planning and delivering complex transportation, broadband, climate, and large-scale urban development projects globally.

Ignacio brings deep analytical rigor and a strong quantitative background to support the delivery of capital projects, through market analyses, funding and financing plans, public-private partnerships, and economic and fiscal impact studies. Ignacio’s work in the United States has ranged from supporting transit agencies such as the MTA, GoTriangle, and WMATA devise and execute partnerships for joint development, to working alongside two dozen municipalities and states to define actionable funding, financing, and delivery strategies for their capital plans. More recently, Ignacio has supported HR&A’s emerging work in distributed energy resources and electrification, including co-leading an assessment of New York City’s state of electric vehicle charging infrastructure.  

Abroad, Ignacio’s work for the World Bank Group and the Inter-American Development Bank in more than a dozen countries has positioned him as a torchbearer of HR&A’s growing international practice. His prolific work on value capture funding and financing in Brazil, Colombia, and Costa Rica has resulted in substantial legal and regulatory changes and accelerated the adoption of tools such as tax increment financing and the sale and transfer of development air rights by municipalities and transit agencies such as Metro de Medellin. More recently, he has led the firm’s efforts to measure and illustrate the benefits of climate adaptation and mitigation investments in several cities in South Africa and Egypt.  

At HR&A, Ignacio is a mentor to several colleagues, including those who share an international background and an interest in the built environment. At the firm, he is an active member of the Technical Advisory Group that develops internal tools, models, and templates and trains new staff in advanced quantitative analyses. Internally, he has also spearheaded the development of HR&A’s digital tools, including the Infrastructure Funding Navigator that helps governments and communities identify and assess their readiness for pursuing federal infrastructure funds.  

Prior to joining HR&A in 2015, Ignacio worked for Hotusa Hotels in Barcelona, where he supported the renovation and opening of the group’s properties in Europe and Latin America. Ignacio holds a master’s degree in Real Estate Development from Columbia University and obtained the 1st Thesis Award for his global comparative Real Estate Investment Trust study. Ignacio also holds graduate studies in finance and accounting. Previously, he obtained a Degree in Architecture from UPC BarcelonaTech. He is an active member of the Urban Land Institute New York Infrastructure Council and the Young Professionals in Infrastructure and has been a guest lecturer to urban planning and real estate students at the Harvard Graduate School of Design and the Stuart Weitzman School of Design at the University of Pennsylvania. 

Alex Stokes is a firm leader in real estate financial modeling and strategic planning for economic development and urban revitalization.

Since joining HR&A in 2010, Alex has assessed the financial feasibility of numerous large-scale, mixed use redevelopment projects and crafted strategies to guide the use of public incentives and public financing, the provision of affordable housing and high-quality open space, waterfront redevelopment, developer engagement and university campus redevelopment. His analysis has supported over $1.5 billion in successful public-private financing.

Alex serves as HR&A’s in-house advisor for real estate finance, economic impact modeling and other diverse analysis and strategy assignments and leads a team of analytic experts across the firm’s five offices.  Alex has also taught a seminar on redevelopment feasibility at the University of Pennsylvania’s School of Design with HR&A Vice-Chairman Candace Damon since 2015.

Recent projects Alex has directed include the Southern Manhattan Coastal Protection Study, a major public initiative to foster economic development and flood protection in New York, as well as a Kendall Square redevelopment study sponsored by MIT and equitable redevelopment strategies for several neighborhoods in Detroit and Flint, Michigan. Alex supported successful transactions and partnership agreements for the American Dream retail-entertainment destination in New Jersey, mixed-use districts in Denver, Nashville and Charleston.  Alex was previously the lead analyst for a strategic growth and modernization plan for the Research Triangle Park in North Carolina, a tax-increment financing strategy for the City of Atlanta and an award-winning master plan for a seven mile stretch of waterfront on the Delaware River in Philadelphia. Alex is currently overseeing implementation planning for a large-scale waterfront master plan in his hometown of Sarasota, Florida.

Prior to joining HR&A, Alex served as a financial advisor to state and local housing finance agencies at Caine Mitter and interned with GE Capital Real Estate in Paris.

Alex holds a Bachelor of Arts from Harvard College and a Master of Real Estate Management from the Université Paris-Dauphine, which he attended as part of a Harvard-sponsored Williams-Lodge Scholarship.