CPC Announces $350 Million of Construction Lending Capital

New York, NY CPC President & CEO Rafael E. Cestero (Center) is joined by (L-R) NYC Comptroller Scott Stringer, Mayor Bill de Blasio, Bronx Borough President Ruben Diaz Jr., and longtime CPC partner Monsignor Donald Sakano of Highbridge CDC to announce a new $350 million fund to support the creation and preservation of affordable housing across New York City and State.

The new funding will allow CPC to provide construction lending capital to housing developers for the acquisition, construction, rehabilitation and preservation of an estimated 7,500 units statewide.

"This new capital is a testament to the fact that CPC is stronger than ever and stands ready to work with private owners and our partners as a source of consistent and flexible capital for the creation and preservation of essential affordable, multi-family housing throughout New York City and State," said Cestero.

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