CREA Chairman Brings Unique Experience to CPC’s Governance Structure
New York, August 31, 2017 – The Community Preservation Corporation (CPC), a leading not-for-profit affordable housing and neighborhood revitalization lender, announced today the election of Gary Rodney, Chairman of CREA LLC and former New York City Housing Development Corporation (HDC) president to the CPC board of directors. Mr. Rodney will serve on the Board’s Capital Allocation Committee.
“Gary brings a deep knowledge of the affordable and multifamily finance landscape to the CPC board. In the leadership roles he’s held at Omni, HDC, and now at CREA he has led teams that have worked on some of the most important and complex housing projects in New York,” said Rafael E. Cestero, President and CEO of the Community Preservation Corporation. “We’re fortunate to have somebody joining us like Gary who will help guide our work and further our mission of creating vibrant and stable communities.”
“I’ve seen firsthand how access to quality affordable housing can help transform neighborhoods and bring stability to hardworking families,” said Gary Rodney, Chairman of CREA LLC. “We need lenders like CPC who are committed to investing in our housing stock, and who understand how those investments can positively impact the people who live there. It’s an honor to join the CPC board and work with a company that’s dedicated to the development and revitalization of our communities.”
Gary Rodney currently serves as Chairman of CREA, LLC, a full service national syndicator of the Low-Income Housing Tax Credit. In February 2014, he was nominated as president of HDC by Mayor Bill de Blasio. As HDC president, Mr. Rodney led one of the nation’s most active Housing Finance Agencies and the largest municipal issuer of mortgage revenue bonds for affordable multifamily housing. Throughout his time at HDC, Mr. Rodney oversaw approximately $14 billion of assets. This included a portfolio of 190,000 multifamily units and approximately $10 billion in mortgage loans. Prior to serving as HDC president, he was Executive Vice President for Development at Omni New York LLC, a real estate development company with a focus on preserving and developing affordable housing properties. He attended the University of Rochester and received a Masters of Urban Planning from the Robert F. Wagner Graduate School of Public Service at New York University.
About the Community Preservation Corporation (CPC)
Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. To date the company has leveraged approximately $9.7 billion in private and public investment to finance more than 170,660 units of housing. CPC’s work with its partners has helped revitalize countless neighborhoods and provided quality housing for families, senior citizens, and individuals with disabilities. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.