continue to seek out CPC to take on the toughest housing challenges that are happening in New York and across the country. Together, our $643 million of new investments made an impact on American communities, the people who call them home, and the way capital is deployed across the housing industry."
Rafael E. Cestero
Chief Executive Officer
The Community Preservation Corporation (CPC) elevated its impact in the 2024 fiscal year, deploying $643 million to finance quality homes for more than 13,000 people. During a landmark year leading up to the organization’s 50th anniversary, CPC closed 80 loans and investments to finance affordable and workforce multifamily housing that will deliver enduring economic benefits to communities across the country.
"CPC's FY 24 loans and investments demonstrate an unwavering commitment to the neighborhoods we serve.
Each project tells a story of our impact – view some examples here.
As CPC builds on 50 years of positive impact, the organization is poised to continue delivering economic opportunity and transformation in communities for years to come."
Sadie McKeown
President
Our Impact in Communities
in Lending and Investing
in Mortgage Lending
in Construction Lending
in Equity Investing
in Mission Driven-Capital
Deployed Across 6 States
of Housing Units
Financed were
Affordable
Sustainable
Homes Financed
Invested in ACCESS
Projects
by S&P Global
in Assets Under Management
Servicing Portfolio
Expanding Affordable Housing
CPC believes that housing is central to transforming underserved neighborhoods into thriving communities. We are working to expand housing access and seek new ways to lower the cost of producing affordable housing. Since our founding in 1974, CPC has delivered more than $15 billion for the creation or preservation of more than 230,000 homes for more than one million people.
Closing the Racial Wealth Gap
CPC is dedicated to providing financial resources and technical assistance to entrepreneurs of color who have historically faced barriers to entry in the real estate development market. Since the creation of CPC ACCESS in August 2020 through FY 24, our commitment across the company has resulted in investments with BIPOC developers totaling more than $500 million to help finance development projects and grow and scale their businesses.
High Performance and Energy Efficiency
CPC is committed to expanding our investment in improving building performance through our lending and investing in multifamily housing, and our knowledge sharing and advocacy work. To date, CPC has invested more than $2 billion in energy efficient, affordable and workforce multifamily housing and financed more than 13,000 energy-efficient and high performance homes.
Delivering Agency loan products and empowering customers to make a positive impact in their communities.
In a testament to CPC’s innovative approach and unmatched impact over five decades, the Federal Deposit Insurance Corporation (FDIC) selected a CPC-led partnership for the acquisition of a $5.8 billion loan portfolio, secured by New York City properties containing nearly 35,000 apartments. CPC will service the 868 loans in the portfolio, the majority of which is rent regulated.
In fiscal year 2024, the U.S. Environmental Protection Agency announced the selection of Climate United, a national nonprofit coalition composed of CPC Climate Capital, Climate United Fund, and Self-Help Climate Capital to be the recipient of a $6.97 billion grant award.
CPC Climate Capital, a subsidiary of CPC, was created to lead the coalition’s multifamily strategy.
Housing Units
Unaudited results for the 12 months ended June 30, 2024
| Net Assets | $300,378 |
| Revenues | $105,975 |
| Servicing Portfolio | $9,516,000 |
| Construction Loan Portfolio | $1,600,000 |
| Equity Portfolio | $77,642 |
| TOTAL ASSETS UNDER MANAGEMENT |
$11,654,912 |
Thank you to the customers, partners, and team members whose commitment and collaboration helped elevate our impact in Fiscal Year 2024. Looking ahead, we will continue building on CPC’s 50-year history of meeting the unique housing needs of communities and delivering loans and investments that transform neighborhoods and the lives of the people who call them home.
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