The Community Preservation Corporation Appoints NYS Affordable Housing Industry Leader to its Board

Chairperson and CEO of Grenadier Realty Corp. Felice Michetti elected as newest member of CPC’s board

New York, NY, November 19, 2013 – The Community Preservation Corporation (CPC), a leading mortgage lender for multi-family affordable housing, announced today the appointment of Felice Michetti to its Board. An established leader in affordable housing, Ms. Michetti is currently Chairperson and CEO of Grenadier Realty Corp., one of the nation’s largest and most innovative residential management firms.

“Our board members are valued experts who guide CPC towards providing every New Yorker with quality, affordable housing. Their input and guidance are invaluable, and we are lucky to have an industry frontrunner such as Felice Michetti joining our team,” said Michael Hegarty, CPC Board Chairman. “The board enthusiastically welcomes her and has no doubt that her extensive experience and knowledge will guide CPC towards an even stronger future.”

“We are honored to welcome Felice Michetti to our board. She is not only a recognized leader in the New York real estate field but also has devoted her illustrious career to ensuring New Yorkers have access to safe, stable affordable housing,” said Rafael E. Cestero, President and CEO of The Community Preservation Corporation. “Her experience, insight, and passion will be an invaluable asset to our board, and we look forward to working closely with her to continue our mission of stabilizing, strengthening, and sustaining New York’s neighborhoods in need through investment.”

“CPC has a long and successful history of contributing to the preservation and creation of quality affordable housing in New York, and I have witnessed first-hand how passionate they are about revitalizing local communities and improving both the quantity and quality of the available housing stock,” said Felice Michetti. “We share the belief that a strong community starts with stable housing, and I look forward to working closely with Rafael, the CPC Board, and their other crucial partners to make that belief a reality.”

Prior to joining Grenadier, Ms. Michetti devoted more than 20 years to public service. Beginning her career in NYC government as a city planner, she later moved to the NYC Department of Housing Preservation and Development, where she quickly rose through the ranks, holding successively senior level positions culminating in her appointment as Commissioner. As Housing Commissioner, Ms. Michetti was responsible for developing and implementing NYC’s unprecedented $5.1 billion Ten Year Housing Program. This nationally acclaimed initiative successfully refocused the City’s housing efforts from a historical reliance on federal programs to the creation of the largest locally funded and administered housing program in the nation. She has also served as President of the NYC Housing Development Corporation. A summa cum laude graduate of Fordham University and the Fordham University School of Law, she is an attorney and admitted to the New York Bar.

Contact: Eric Bederman, VP/Communications
212-895-5300, ext. 482 [email protected]