Our Mission

At CPC, we believe that housing is central to transforming underserved neighborhoods into thriving and vibrant communities. That’s what we’re about: providing innovative capital solutions, fresh thinking, and a collaborative approach to the often complex challenges that owners and developers of multifamily housing face.

Our Approach

As a leading nonprofit affordable housing and community revitalization finance company, we utilize our deep, strategic relationships with government agencies, local community groups, banks, and other lenders to create customized loan opportunities for our customers. As a trusted partner in your success, we work hand-in-hand with you to help maximize the potential of your multifamily project and its impact on the community.

Our Story

CPC was formed in 1974 as a direct response to the is­sues of property abandonment and blight that New York City was facing at the time. Each year, between 20,000 and 30,000 rental units were being lost in to abandonment, fire, or demolition, and the City was taking ownership of hundreds of buildings through foreclosure and forfeiture.

In response to a 1972-73 study conducted by the New York City Clearing House, an association of com­mercial banks, and the banking community, led by David Rockefeller, stepped up with a pro­posal to address the problem. Perhaps, focusing a small amount of pooled capital on a few neighborhoods-namely Crown Heights in Brooklyn and Washington Heights in Manhattan—would improve building quality and people’s living conditions, and help pre­vent the blight in surrounding neighborhoods from de­stabilizing them. CPC was founded in 1974 to be a self-sustaining vehicle, a departure from many non­profits, which rely on regular injections of charita­ble support.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $11.9 billion to finance the creation and preservation of more than 220,000 units of quality housing in neighborhoods across New York State and beyond.

Our Values

At CPC, our values define who we are as an organization and guide the way we work with our partners, within our communities, and with each other.

• We have a deep commitment to our mission. We work hard to create the best outcomes for our customers and communities, and we have fun doing it.
• We respect, trust and empathize with others. We are supportive and responsive and value different perspectives. While we are diverse in backgrounds and skills, we are united by our values and our passion for bringing capital to underserved communities.
• We strive for excellence in everything we do and aim to add measurable value to neighborhoods, customers, and the industry. We go the extra mile to find the right solution and deliver on our commitments.
• We believe in accountability and operate with the highest standards of integrity and transparency. We communicate openly and honestly with our partners and each other.
• We embrace collaboration. The connections we foster with our colleagues, customers, government partners, and other like-minded organizations are crucial to improving housing quality and making a positive impact on the physical, social, and economic infrastructure of communities.