ACCESS

CPC was founded in New York City in 1974 to be a source of stable capital and a resource to marginalized communities suffering from blight and abandonment during a time when other institutions either couldn’t or wouldn’t step up and invest in their future. Many of the communities we serve (and have historically served) are Black and minority neighborhoods that live under a cloud of institutional racism that affects their opportunities for housing, education, healthcare, and economic prosperity.

 

To help directly address these inequities, CPC established ACCESS:

access acronym image

Funded with $20 million from CPC, ACCESS was created with the goals of empowering Black and minority entrepreneurs who have disproportionately experienced barriers to entry within the development industry by providing funding, education and other resources to build their capacity to compete in the marketplace, while also targeting projects that bring high quality housing to communities of color.

 

ACCESS is led by Senior Vice President, Lawrence Hammond, who brings decades of experience in multifamily lending to his role as director of the program. At CPC, he distinguished himself as an expert in affordable housing and multifamily finance, working with borrowers on some of their most challenging projects. As an ordained minister, Mr. Hammond has also focused on building relationships with, and advising faith-based organizations who are interested in developing housing as part of their mission to serve the community.

 

The ACCESS team is currently on a “listening tour” to identify ways in which this funding can be deployed to help address the gaps and barriers that prevent minority business owners from successfully competing in the real estate marketplace, as well as to add value to ACCESS borrower(s) and or project(s).

 

Some of the consistent feedback the ACCESS team has received from community members and potential program borrowers, is the need for:

 

  • Capacity building programs such as borrower training and financial literacy that helps first time entrepreneurs navigate the development process;
  • Subordinate soft debt and recoverable grants to fill gaps where subsidies are unavailable or limited;
  • Predevelopment and acquisition loans that enable those with lower upfront capital to compete in the market;
  • Construction and permanent debt capital for projects smaller than those usually financed with conventional CPC products; and
  • Equity in initiatives and alternative financing vehicles for partners in targeted communities.

 

Based on these conversations, CPC is beginning to tailor specific ACCESS product offerings to satisfy those needs.

 

For opportunities to provide input, please contact [email protected].

Events

The ACCESS team is committed to engaging with community stakeholders and has recently participated in the following events:

  • March 4, 2021: Affordable Housing Discussion with  Mission Based Leaders – an event with the Long Island Housing Partnership’s new Mission Based Affordable Housing initiative.
  • December 8, 2020: NYC Department of Housing Preservation & Development M/WBE RFP Training for Minority- and Women-owned Business Enterprises and Nonprofit Developers.
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  • October 28, 2020: Black Economic Agenda Summit hosted by the New York Real Estate Chamber and The Black Businesses Collaborative.
Join Us

CPC seeks program support from like-minded partners to finance loans and investments as well as provide training and capacity building to ACCESS entrepreneurs. Contact Lawrence Hammond, SVP and Director of ACCESS, to learn more: