cpc - Community Preservation Corporation - 2025 Annual Report - 50 Years of Impact
CEO's
Message
“CPC’s 50th year was a remarkable one,
with $955 million of new loans and investments driving affordability in communities across New York State and the country. Every project, large or small, advanced CPC’s commitment to transforming underserved neighborhoods into thriving and vibrant communities. My thanks to our talented team, and to the borrowers, government partners, and investors who continue to trust and collaborate with CPC to advance our critical mission.”
Rafael E. Cestero
Chief Executive Officer
Celebrating
50 Years
The Community Preservation Corporation celebrated 50 years of impact and innovation in Fiscal Year 2025 (FY25). During a milestone anniversary year, CPC closed more than 90 loans and investments to finance affordable and workforce multifamily housing in neighborhoods across our home state of New York and across the nation. CPC’s financing created or preserved quality, stable places to call home for more than 33,000 people.
Since
1974
Five Decades of Impact
financed for
FY 25 Highlights By The Numbers
Transactions
Loans & Investments
in NY and Beyond
$458M
in Construction Lending
$484M
in Permanent Mortgage Lending
$13M
in Equity Investing
$955M
In Total Lending and Investing
Our Work
CPC
Mortgage
Company
Construction
Lending
CPC
Equity Investing
CPC
Climate
Capital
Our Impact
2025
Featured Projects
Uniquely CPC
50th
Anniversary
Ideas
Celebrating CPC’s Legacy of Impact and Looking to the Future of Housing
For more than 50 years, CPC has worked to deliver innovative solutions to the most pressing housing challenges facing American communities.
CPC was honored to be recognized with the following awards as we crossed our 50th anniversary milestone:
- Opportunity Finance Network Outstanding Community Development Financial Institution
- New York Housing Conference Legacy Impact Award
In FY25, it was remarkable to gather with more than 600 partners, customers, and multifamily industry peers to celebrate our collective impact and the future of innovation in housing.
CPC also commemorated our 50th anniversary with our first Housing Innovation Symposium, highlighting a collection of bold proposals for housing's future– from academics, policymakers, advocates, and community leaders.
Explore a selection of these innovative solutions below and view the full compilation on our Innovative Ideas website. Thank you to all innovative idea contributors!
2025
Financials
Unaudited results for the 12 months ended June 30, 2025
CPC Consolidated Financial Highlights (000s)
Net Assets
$323,380
Revenues
$95,446
Portfolios (000s)
Servicing Portfolio
$9,385,000
Construction Loan Portfolio
$1,521,000
Equity Portfolio
$169,000
Total Assets Under Management (000s)
Total Assets Under Management
$11,940,000
CPC Board of Directors
Richard Roberts
CPC Board Chair
Principal & Managing Director
Red Stone Equity Partners, LLC
Rafael E. Cestero
Chief Executive Officer
The Community Preservation Corporation
Roger A. Blissett
Founder & CEO
EVS Advisors
Peter Cannava
Head of Multifamily Capital and Community Lending and Investment
Wells Fargo
Louise Carroll
Partner
Katten Muchin Rosenman LLP
Paul Choi
Senior Director, Real Estate Capital Markets
Nuveen
Ingrid Gould Ellen
Faculty Director
NYU Furman Center for Real Estate and Urban Policy
Michael Hegarty
Senior Advisor (Ret.)
CCMP Capital Advisors, LLC
Jackie Klaber
Managing Director, Head of Direct and Co-Investments
Rockefeller Capital Management
Rick Kumro
General Counsel (Ret.)
The Community Preservation Corporation
Sonya S. Mays
President & CEO
Develop Detroit
Manuel Menendez, Jr.
Senior Vice President – Multifamily Chief Credit Officer (Ret.)
Fannie Mae
Gary Rodney
James Wright
Managing Director, Head of U.S. Corporate Banking
CIBC
To learn more about CPC’s leadership and meet the team, please visit our website
The Year Ahead
As we look ahead to the next 50 years, CPC will continue to leverage our diverse product offering, unique expertise, and innovative approach to address the most pressing housing challenges facing our neighbors in New York and neighborhoods across the nation. We look forward to new partnerships and continued collaboration with our partners, customers, and the communities we serve together.
