Get to know Connie Gonzalez, Associate Vice President, Development Finance Group
Connie shares her passion for creative capital markets projects and the impact they have on her state’s growth.
1. Can you describe your role and the key responsibilities you handle on a daily basis?
As a banker in the Development Finance Group in Salt Lake City, Utah, I have the rewarding role of securing finance for real estate developments. My days are filled with securing funding, providing strategic advice, and conducting financial analyses to ensure the success of each project. I stay attuned to capital market trends and state and national regulatory changes, offering clients the insights they need to make informed decisions. Building strong relationships with developers, investors, and other stakeholders is critical in my role, and I take pride in understanding their goals and challenges. Whether it’s structuring deals or managing expectations, I am dedicated to supporting my clients every step of the way, knowing that our collaborative efforts contribute to the growth and development of Utah for years to come.
2. What motivated you to pursue a career in finance, and what keeps you passionate about your work?
My motivation is deeply rooted in my journey as an immigrant from Argentina. Growing up, I had ambitions to be successful but did not fully understand the world of finance. My time working in New York City at BlackRock was an incredible and eye-opening experience that exposed me to various roles within finance. The demands at BlackRock were high, with rigorous performance standards, complex financial analyses, and the need to manage relationships with high-profile institutions. Navigating this fast-paced and competitive environment required adaptability, innovation, and effective teamwork.
My experience and other experiences since then have inspired me to develop my skillset further to make an impact through financing institutional capital for the state’s growth. It is amazing to think about the significant funds ready to be invested that previously have not had an avenue or vehicle to do so. Marrying my passion for capital markets with opportunities in my own backyard has made my career incredibly fulfilling.
As an avid sports fan, being part of the financing team that creatively structures the funding of projects like the expansion of the Delta Center, the potential new baseball field, or the PGA tour at Black Desert has been particularly special. These challenging times in the capital markets push us to be more creative and innovative, and it’s rewarding to see our efforts deliver results. A city staff member once complimented our work by saying we are the “Tesla of our industry,” and that trust and recognition drives us to excel even further.
3. How has the industry evolved since you started, and what significant changes have you observed?
When I first joined the industry, the Utah Public Infrastructure District (PID) tool was very new, and only five or so PID transactions had occurred in the state. Fast forward more than three years and we have more than 150+ PIDs, a new Infrastructure Financing District (IFD) tool, and Tax Increment Financing (TIF) projects that are ready and primed to be financed. While similar tools and financing mechanisms have been around for several decades in other markets, they have been increasingly popular and needed in Utah as we continue to grow. I always say, it feels like part of my job is helping Utah and the infrastructure hit a whole new horizon. There are many changes, both comfortable and uncomfortable, as we continue to grow as a state; our ability to adapt and be innovative and creative to fund growth matters more than ever. It’s exciting and neat to be at the forefront of so many of these large developments.
4. What skills do you believe are essential for success in your field, and how do you cultivate them?
Ability to make correct judgements and utilize time efficiently. Early on, I learned the value of surrounding myself with other bankers who are smart, kind, respectful, and incredibly talented at our craft (shout-out to my Development Finance Group!). Otherwise, one will find immense amounts of frustration and undeliverable expectations for both the client and you. Banking typically attracts very competitive and type-A personalities. Many will believe that the way to get ahead or be successful is to push others down or tarnish their reputations and relationships, but in reality, those bankers are not needed in this industry. There is no such thing as an easy transaction, so being able to adapt, change, and find solutions is essential to being successful. With that being said, my favorite aspects of my role are the constant change, variety of challenges, and working to find solutions for both the institutional buyer and the developer who could benefit from innovative financing.
5. Can you share a memorable project or deal you’ve worked on and what made it stand out?
One of my favorite recent transactions was the Range IFD. Working with Colin Wright and the CW Group was a dream, but also closing the first Infrastructure Financing District in the state was a nice cherry on top. The Range Development in Morgan County by Cole West (CW) will have a significant impact on local infrastructure. Our financing will help provide improved roads, utilities, and public services to support the growing population and ensure seamless connectivity within the community. Utilizing the financing tools and avenues provided by the state has provided solutions and funding to infrastructure, not only for CW, but many other development projects.
6. How do you balance the demands of your job with your personal life, and what strategies do you use to manage stress?
Balancing banking and personal life can be challenging, and what balance looks like can vary greatly from one colleague to another. Personally, I have found great joy and fulfillment in building genuine relationships with clients, consultants, investors, and industry experts. Although it sometimes requires late hours at the office, I make sure to step away and dedicate time and energy to organizing non-profit activities and programs aimed at cultivating the next generation of leaders. I deeply value relationships, and investing the necessary time to build them has been key to my success. Ultimately, nurturing new and existing relationships, both at work and outside of it, has brought me significant personal and professional rewards. I admire many of our clients and industry experts, and I feel fortunate to learn from them whenever possible.
7. What advice would you give to someone just starting out in your field?
The banking environment is fast-paced, and balancing multiple tasks and deadlines is a constant challenge. Learning how to prioritize client expectations in an evolving economic environment and staying on top of each transaction will take time and experience but is extremely valuable. Banking is not just about technical skills; relationships are also key. Start building your network early on. Choose to attend events (like Urban Land Institute, NAIOP, Crew, or the Utah Alliance), seek out mentors both formal and informal, be proactive in meeting people within and outside of your industry. Be curious and always be willing to learn more and find ways to grow your expertise. Be grateful and always give thanks to the team, your clients, the industry, and the opportunities in front of you.
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