New Head of CPC

January 13, 2012

January 13, 2012


Friday, January 13, 2012 –  Rafael E. Cestero, former Commissioner of the New York City Department of Housing Preservation and Development, has been named President and CEO of the non-profit organization Community Preservation Corporation and its for-profit development subsidiary, CPC Resources.

Cestero, succeeds Michael Lappin, who announced his retirement last November after leading the company for 31 years. CPC, created in 1974 to stem a tide of abandonment in New York City, has financed the preservation and development of nearly 144,000 affordable housing units involving public and private investments of approximately $8 billion. Mr. Cestero’s appointment is effective January 17th.

Cestero most recently held the position of Managing Director of L+M Development Partners, a private sector developer of affordable and market rate housing where he was instrumental in efforts to expand nationally and restructure the property management business.

Cestero was appointed by Mayor Michael R. Bloomberg as Commissioner of the New York City Department of Housing Preservation & Development (HPD) in February of 2009 and served as Commissioner until April 2011. Prior to being appointed Commissioner, Cestero served as the Deputy Commissioner of Development at HPD from 2004-2007 and worked for Enterprise Community Partners for 15 years in key leadership positions, including director of New York programs, and most recently as senior vice president and chief program officer for the national Enterprise Community Partners.

Cestero received his Masters degree in Urban Planning from the University of Illinois at Urbana-Champaign. He received his undergraduate degree in Public Policy Analysis from Cornell University.