David Rockefeller, CPC Founder, Passes Away at 101

“We mourn the loss of David Rockefeller, who passed away yesterday morning at the age of 101. He was a true visionary whose love for New York and lifetime of work has altered the business, civic, philanthropic and cultural arc of our city. It was this love and dedication that led him to help found The Community Preservation Corporation (CPC) in the early 1970s as a direct response to the blight and abandonment wracking our communities, and at a time when many of his contemporaries had given up.

“The history of CPC’s impact is a testament to Mr. Rockefeller’s vision. It was his leadership on the Public Affairs Committee of the New York Clearing House Association that brought together New York’s leading financial institutions to provide the funding that would allow a small nonprofit to invest in the revitalization of some of the hardest hit and most vulnerable neighborhoods in the city.

“During times of economic crisis and disinvestment when the risk involved in lending has kept many out of struggling and underserved neighborhoods, CPC has remained a consistent and stable source of capital. On behalf of the Board of Directors and the entire staff at CPC, I would like to thank Mr. Rockefeller for instilling this unique mission that has guided our work for more than four decades.

“The work he started with CPC all of those years ago has seen its reach and impact expand well beyond New York City. Mr. Rockefeller leaves a legacy that reaches from the Bronx to Buffalo, from Harlem to Watertown and all points in between. The nearly $9.7 billion in public and private funds that CPC has invested in quality housing since our founding has helped to rebuild and strengthen countless communities and bring stability and opportunity to the people who call them home.

“I am proud to come to work every day knowing that the values that guide our mission are the same as those that guided Mr. Rockefeller. Our thoughts and prayers are with his family.”

Rafael E. Cestero, President & CEO