CPC poised for continued growth with expanded leadership; Addition of McGrath, Propp, Hammond and Schilling

New York Real Estate Journal

July 14, 2015

The Community Preservation Corp., Inc. (CPC), one of the leading not-for-profit affordable housing and neighborhood revitalization lenders, revealed additions to its leadership and originations teams. Senior vice president Tom McGrath will become director of Upstate revitalization, and Elizabeth Propp has joined as senior vice president for investments and acquisitions, Lawrence Hammond as vice president and mortgage officer, and Christopher Schilling as mortgage officer.

McGrath will lead efforts to increase CPC’s presence in and commitment to Upstate New York. His expertise will be utilized to mentor field office heads to develop Upstate growth strategy and find unique ways CPC can enhance its impact in the communities it serves.

Before joining CPC, Propp worked as a research affiliate & financial consultant for the NYU Furman Center for Real Estate and Urban Policy. Prior to that, she was with JPMorgan Investment Management for 16 years, most recently as managing director and northeast acquisitions team leader.

In his new role, Hammond will help grow the New York City office’s construction and permanent loan portfolio and ensure it reflects CPC’s core mission to stabilize and revitalize communities. With over 30 years of experience in financing community development and commercial real estate projects, he comes from the Popular Community Bank where he was the vice president and relationship manager for nine years. After receiving a bachelor’s degree from Long Island University, Hammond worked at JPMorgan Chase Community Development Group for almost 30 years, most recently serving as the vice president of its community partnership office.

Schilling will lead mortgage officers from all field offices to grow CPC’s Freddie Mac Small Balance Loan (SBL) portfolio. Prior to joining CPC, he worked at the Love Funding for eight years, starting as an investment analyst and advancing to the director of the New York office.