In Fiscal Year 2019 (FY 19), The Community Preservation Corporation (CPC) continued to bring our brand of stable, flexible capital to workforce and affordable housing projects, investing $671 million and financing more than 5,800 units of multifamily housing in communities across New York State and beyond.
CPC continued to build on the strong partnerships we’ve cultivated with our borrowers and government partners during our 45 years as a trusted multifamily housing lender. We officially launched CPC Mortgage Company LLC, our Agency lending subsidiary, to expand our ability to meet the diverse capital needs of our borrowers with a full suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) products. And, our Equity investing team closed the year on a high note, having been selected by the City of New York as part of a team that will rehabilitate and manage more than 1,700 units of public housing, helping to dramatically improve the living conditions of nearly 3,000 residents.
I am proud of what the people of CPC accomplished in collaboration with our partners, and I invite you to explore our latest annual report to learn more about our impact this year.