Milestone project pushes CFHF past 1,000 units of housing electrified across New York State
YONKERS, NY (January 14, 2026) — The Community Preservation Corporation (CPC), a mission-driven non-profit multifamily finance company today announced a $12,035,000 grant from New York State Homes and Community Renewal’s Climate Friendly Homes Fund (CFHF) to Municipal Housing Authority for the City of Yonkers (MHACY) to support the full electrification of Palisade Towers, a 415-unit affordable housing development at 1-8 Schroeder Street in Yonkers. Originally constructed in 1954, the building is currently operating on temporary boilers following the failure of its original heating system.
Located in a NYSERDA-designated Disadvantaged Community and a HUD Qualified Census Tract, 1-8 Schroeder Street serves low-income residents and is a prime candidate for energy-efficient upgrades. The CFHF funding is part of a renovation project at the development that will make critical improvements, including the installation of window heat pumps and heat pump hot water heaters, ensuring residents benefit from cleaner, safer, and more reliable heating, cooling, and hot water systems.
With the addition of 1-8 Schroeder Street, the CFHF has now provided funding to electrify more than 1,000 units of affordable housing across New York State—marking a major milestone in the fund’s mission to decarbonize multifamily buildings across the state.
Enterprise Community Partners originated the project, which also received support from the Landlord Tenant Assistance Program (LTAP). LTAP, administered by Westchester County, provides financial assistance to landlords and public housing authorities to maintain safe and habitable housing for tenants.
“This project is a powerful example of how targeted investment can deliver real climate and housing equity outcomes,” said Atalia Howe, SVP, Head of Sustainability and Market Building, CPC. “By replacing outdated fossil fuel systems with modern electric alternatives, we’re not only improving the quality of life for residents but also helping New York meet its climate goals. We’re proud to work alongside Enterprise Community Partners, HCR, and Westchester County’s LTAP program to bring this vision to life.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “This project shows that affordable housing and sustainability go hand-in-hand. With this $12 million investment, 415 households are on their way towards cleaner air and more energy-efficient heating. We are excited to be a part of this renovation. Thank you to our all our partners for your dedication.”
“Without the support of CPC, New York State, Westchester County, The City of Yonkers and Senate Majority Leader Senator Stewart Cousins, this herculean effort would never have been possible to accomplish,” said Wilson Kimball, President and CEO, MHACY. It’s one thing to have a vision but without a great team nothing will get done.”
“Today’s announcement is about more than funding for upgrades at a housing site,” said Baaba Halm, Senior Vice President for Programs, Enterprise Community Partners. “It is about targeted investment in our critical public housing stock that will address our state’s climate goals, while also ensuring heating and cooling systems are cleaner and more reliable for residents. Enterprise was proud to play a role in this milestone and looks forward to replicating the success elsewhere around the state.”
CFHF is a $250 million initiative launched by HCR to help multifamily building owners across New York State transition to high-performance, all-electric heating, cooling, and hot water systems. The fund targets buildings with 5-150 units in economically disadvantaged communities, aiming to retrofit at least 10,000 units to reduce greenhouse gas emissions and improve energy efficiency.
CPC administers a portion of CFHF. The program has so far delivered $34.2 million to fund 1,262 units of housing.
High-performance buildings deliver better financial stability, durability, and quality of life. By reducing utility costs, minimizing disruptions from equipment failures or extreme weather, and extending system life, they make building performance predictable and lower long-term risk. These efficiencies protect residents and preserve affordability. Beyond financial benefits, high-performance homes create safer, healthier, and more comfortable living environments, ensuring communities remain strong and affordable for decades.
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About The Community Preservation Corporation (CPC)
CPC is a nonprofit, multifamily finance company that was founded in 1974 to provide financial and technical resources to stabilize and revitalize underserved communities. Today, CPC uses its unique expertise in housing finance and public policy to expand access to affordable and workforce housing, advance diversity and equity within the development industry, and expand investment in the green economy and lessen the impact of climate change. Since its founding, CPC has invested over $15 billion to finance the creation and preservation of more than 230,000 units of housing. The company provides a suite of construction and permanent products including Freddie Mac, Fannie Mae and FHA mortgages, and is an Equity Investor with approximately 4,500 affordable units under ownership. CPC is a carbon-neutral company and maintains AA- S&P rating. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.