Type: Impact
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Revitalized: The Fall and Rise of a Mission Based Housing Finance Company
The Community Preservation Corporation was formed in 1974 as a direct response to the issues of property abandonment and blight that New York City was facing at the time. Over the following four decades, CPC’s creative financing solutions have supported critical housing projects in neighborhoods across New York State and beyond, improving communities and people’s…
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Local Impact: New York City
The Community Preservation Corporation (CPC) was formed in 1974 as a direct response to the issues of property abandonment and blight that New York City was facing at the time. The group of commercial banks that founded CPC to invest in the preservation of rental housing stock in stable, working-class neighborhoods designed its lending to…
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Local Impact: Capital Region, New York
In keeping with its expertise in maximizing housing investments through public-private partnerships, CPC has long worked with the New York State Office for People with Developmental Disabilities (OPDD) and Office of Mental Health (OMH) to finance this much-needed housing type. CPC has invested $130 million of its own capital alongside $40 million in public dollars…
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Local Impact: Hudson Valley, New York
Since 1974, CPC’s creative housing finance solutions have supported critical projects in neighborhoods across New York State and beyond. Find out more about CPC’s impact in New York’s Hudson Valley.
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Small Multifamily Buildings: A Stabilizing Force for Communities
Small buildings are the foundation of communities across New York State, and serve as a haven of naturally occurring affordability for low- and moderate-income renters. In this video, hear from small building owners and CPC executives about the transformative impact that small multifamily buildings are making for residents across New York.
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Local Impact: Central New York
CPC’s Central New York office closed its first loan in 1993, and over time, has financed key revitalization projects in communities from Massena and Alma to Syracuse, investing a total of $800 million and creating and preserving nearly 17,000 units.
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Local Impact: Western New York
Since 1974, CPC’s creative housing finance solutions have supported critical projects in neighborhoods across New York State and beyond. Find out more about CPC’s impact in Western New York.
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Lighting the Way for Economic Development: Transforming a Syracuse Lantern Factory into a Mixed Use Building
An inspiring story of economic revitalization in Syracuse, New York: CPC and partners worked together to renovate the historic Dietz building into 92 market-rate apartments and 37,500 square-feet of commercial space. According to Syracuse Mayor Ben Walsh, transforming the former lantern factory into housing units helped supercharge economic development in the Park Avenue neighborhood.
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Revitalizing Rochester: How a Historic Carriage Factory Became an Affordable Housing Resource
In its heyday, the Carrington Carriage Factory was a landmark symbol of Rochester, New York’s economic prosperity. When cars replaced carriages, the building deteriorated while its historic roots remained. Watch this video to learn how CPC partnered with the City of Rochester and DePaul Properties to repurpose the building for affordable housing.
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Adaptive Reuse: A Nod to the Past, A Focus on the Future
Community Preservation Corporation President & CEO Rafael E. Cestero and CPC partners share the belief that housing is central to transforming underserved neighborhoods into thriving and vibrant communities. Watch to learn more about CPC’s work with its partners to help revitalize neighborhoods and provide quality housing for families, senior citizens, and individuals with disabilities.
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A New Place to Call Home for Buffalo Businesses and Residents
The former box factory at 500 Seneca was once a significant job provider. Years after the business left town, the building stood unused. CPC and partners restored the damaged building from a source of blight to a beacon of opportunity housing both residents and businesses.
