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:
Funded with $20 million from CPC, ACCESS was created with the goals of empowering Black and minority real estate 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:
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].
The ACCESS team is committed to engaging with community stakeholders and has recently participated in the following events:
CPC seeks program support from like-minded partners to finance loans and investments as well as provide training and capacity building to ACCESS real estate entrepreneurs. Contact Lawrence Hammond, SVP and Director of ACCESS, to learn more: