Ingrid Gould Ellen and Carol M. Joseph Join the Board of The Community Preservation Corporation

Faculty Director of Furman Center and Former Partner and Business Department co-Chair at Blank Rome, LLP Elected as Newest Members of CPC’s Board

New York, December 21, 2015 – The Community Preservation Corporation (CPC), a leading not-for-profit affordable housing and neighborhood revitalization lender, announced today the election of Ingrid Gould Ellen, Faculty Director of NYU’s Furman Center and Professor of Urban Policy and Planning at NYU’s Robert F. Wagner Graduate School of Public Service, and Carol M. Joseph, Former Partner and Business Department co-Chair at Blank Rome, LLP, to the CPC board of directors.

“Ingrid is one of the foremost critical thinkers in the housing policy field. Her work has helped to educate the public and drive the discussions around the housing and urban planning policies that shape our neighborhoods and affect the lives of the people who call them home,” said Rafael E. Cestero, President and CEO of The Community Preservation Corporation.“I look forward to the unique perspective that Ingrid will bring to CPC’s board of directors in support of our core-mission to provide a stable source of capital to underserved neighborhoods.”

“High-quality, affordable housing is the backbone of strong neighborhoods and cities,” said Ingrid Gould Ellen, Faculty Director of NYU Furman Center. “CPC has been a leader in affordable housing financing for decades, with a deep understanding of how stable, sustainable affordable housing can revitalize New York communities and improve the lives of vulnerable New Yorkers. I hope to draw from my experience and policy research to help CPC carry out this mission.”

As the Paulette Goddard Professor of Urban Policy and Planning at NYU’s Robert F. Wagner Graduate School of Public Service and Faculty Director of the NYU Furman Center, Ingrid’s research focuses on neighborhoods, housing, and residential segregation. Ingrid is also the author of Sharing America’s Neighborhoods: The Prospects for Stable Racial Integration (Harvard University Press, 2000) and editor of How to House the Homeless (Russell Sage Foundation, 2010), and has published numerous articles in academic journals on housing, community development, and segregation. Ingrid has served as a policy advisor at HUD and held visiting positions at the Urban Institute and the Brookings Institution. She attended Harvard University, where she received a Bachelor’s degree in applied mathematics, a Master’s in public policy, and a Ph.D. in public policy.

“Carol has been a trailblazer throughout her career and is an expert in real estate finance, particularly with regard to Freddie Mac and other key programs and policies that are integral to affordable housing. Her commitment to serving in leadership roles with several charitable organizations was also very important to us as a mission-based not-for-profit,” said CPC President and CEO Cestero.“It’s an honor to have Carol serve on our board where her deep knowledge of the industry will guide our work in helping communities throughout New York solve their housing and revitalization challenges.”

“As a real estate lawyer who has represented numerous real estate financiers and developers, I understand the complexities involved in structuring the financing of real estate deals,” said Carol M. Joseph. “I believe that the lessons and best practices that I have learned throughout my career can help CPC remain committed to providing consistent capital to New York’s most vulnerable housing markets, and I am excited for this mutual learning opportunity.”

During her six years at the real estate finance law practice Blank Rome LLP, serving as the Business Department Co-Chair, Partner, and member of the Executive Committee until this year, Carol represented national developers of multifamily and mixed-use real estate portfolios and financiers of affordable housing developments, and directed the acquisition and financing of portfolios of multifamily Real Estate Investment Trusts. Throughout her career, she has closed over $15 billion of real estate and structured financing transactions for sale to Fannie Mae and Freddie Mac, as well as over $3 billion in credit enhancement transactions for fixed and variable rate bonds issued by municipal housing agencies nationwide. She recently left Blank Rome, LLP, to pursue opportunities in the real estate and nonprofit sectors. Carol is also the co-founder of Cassin & Cassin & Joseph, LLP, a real-estate focused legal practice, as well as a member of the Real Estate Board of New York, the Mortgage Bankers Associations of America and New York. She has served in leadership positions on the boards of numerous not-for-profit organizations and has been a member of the New York, New Jersey and Florida Bar Associations for over 25 years. Carol received a Bachelor’s degree in accounting at New York University and her J.D. at Fordham University.

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About CPC

The Community Preservation Corporation, Inc. (CPC) is a non-profit lender providing reliable capital to underserved neighborhoods throughout New York State since 1974. A nationally recognized leader in affordable housing finance, CPC is committed to deliver financing and technical expertise, and to working with community partners to create and preserve affordable housing. To date, CPC has invested more than $9 billion in over 159,000 units of housing. For more information, please visit www.communityp.com


Contact: Eric Bederman, VP/Communications

212-869-5300, ext. 482 ebederman@communityp.com