Author: Eric Bederman

The Wall Street Journal March 12, 2013 Community Preservation Corp., which for decades was one of the city’s leading affordable-housing lenders, was on the brink of irrelevance a year ago after it made a number of bad bets on the condo boom. Now the 38-year-old nonprofit lender has received a $250 million infusion of capital…

The New York Real Estate Journal March 12, 2013 By Nicholas Petragnani, The Community Preservation Corporation Across New York state, new and strategic housing investments that focus on historic revitalization have spurred advanced downtown infrastructures. Downtown districts in cities like Syracuse, Buffalo, and Rochester are on the rise and experiencing a rebirth, reminiscent of their…

The Poughkeepsie Journal February 21, 2013 Hudson River Housing has secured a $2.4 million loan from the Community Preservation Corp. to rehabilitate its homeless shelter in the Town of LaGrange. The CPC said 116 units of housing at 389 Manchester Road is composed of a 100-unit single-room occupancy building and a 16-unit townhouse complex. The…

NY Real Estate Journal February 8, 2013 New York, NY – The Community Preservation Corp. (CPC), a leading non-profit lender for affordable housing throughout New York State, announced today that its Bronx and Brooklyn offices are being consolidated into a single New York City originations team to be led by Robert Riggs, senior vice president…

New York Real Estate Journal January 15 – 28, 2013 Syracuse, NY The Community Preservation Corp. (CPC) has closed a $5.475 million Freddie Mac loan to refinance an existing HUD-insured mortgage at the Remington Gardens apartment complex. “Refinancing Remington Gardens’ mortgage with a $5.475 million Freddie Mac loan not only continues our successful partnership with…

Multi-Housing News October 29, 2012 Port Washington, N.Y.—A celebration was held October 16 to mark completion of the $7.8 million rehabilitation of Cow Bay Apartments, an 88-unit affordable housing community in Port Washington, N.Y., on Long Island’s North Shore. A number of state and local officials were on hand to help unveil the rehabilitated property…

The Brooklyn Daily Eagle October 2, 2012   Officials cut the ribbon on Friday for a new affordable and supportive housing development in Crown Heights. The 90-unit complex, at 805 East New York Ave., to be known as the Concern Heights Apartments, is a project of Concern For Independent Living, a nonprofit provider of supportive…

New York Real Estate Journal September 25, 2012 Wallkill, NY The Community Preservation Corp. (CPC), Jonah Mandelbaum, and Occupations, Inc. closed a $7.95 million loan to develop Sunrise Apartments, a 79-unit complex in the Scotchtown section. The complex will house families and individuals with developmental and physical disabilities, and provide access to support and employment…

New York Real Estate Journal September 11 – 17, 2012 Syracuse, NY Demolition began recently at The Pike Block Project, one of the area’s latest flagship developments in progress. Scheduled for completion in 2013, the Pike Block will feature 78 new market-rate residential units and 25,000 s/f of retail space, bringing new life to downtown.…

MHNOnline August 30, 2012 Ballston Spa, N.Y.—The Community Preservation Corporation (CPC) has closed on a $13 million Freddie Mac construction loan to refinance the recently completed Phase II of the Winner’s Circle at Saratoga apartment complex. “It’s a really terrific property and terrific market as Saratoga County has grown over 20 percent in population in…

Multi-Housing News Online Aug. 3, 2012 Wallkill, N.Y.—The Community Preservation Corporation (CPC), a not-for-profit mortgage lender financing multifamily development throughout New York, has closed on a $7.95 million construction loan to develop Sunrise Apartments in the town of Wallkill, N.Y. The 79-unit complex, located in Wallkill’s Scotchtown neighborhood, will provide housing and access to supportive…

New York Real Estate Journal July 17, 2012 Syracuse, NY The Preservation Association of Central New York (PACNY) honored The Community Preservation Corp. (CPC) recently with a Preservation Merit Award at the 2012 PACNY Awards. CPC was honored for its commitment to financing historic rehabilitation projects throughout Central New York. The annual PACNY Awards celebrate…

April 04, 2012 Real Estate Weekly March 28, 2012 By Andrew Giglio, Benchmarking Specialist, CPC Since unveiling his Greener, Greater Buildings Plan on Earth Day 2009, New York City Mayor Michael Bloomberg has been hailed for creating an innovative blueprint for groundbreaking sustainability. The core of the plan concentrates on a thorough set of efficiency…

March 22, 2012 Real Estate Weekly March 15, 2012 The Community Preservation Corporation (CPC) has struck a deal to extend its credit facility with its member banks that will lead to $70 million in direct lending to small and mid-size builders. The move should allow the veteran affordable housing lender to help create of preserve…

March 12, 2012 In announcing the new push, Community Preservation Corp. names an 81-unit, four-building rental complex in the Morrisania section of the Bronx as its first beneficiary. Crain’s New York Business March 9, 2012 Community Preservation Corp. announced late Thursday that it will be able to help finance the creation or preservation of nearly…

New York Real Estate Journal February 28, 2012 Syracuse, NY – Continuing a trend of Freddie Mac financing for new residential and mixed-use development, The Community Preservation Corporation (CPC) has closed on a $9 million loan for Franklin View Apartments, a former mill building that was transformed into a mixed-use complex of rental apartments and…