CPC celebrates $500m financing milestone.From Port Jervis to Port Chester Port Chester, village (1990 pop. 24,728), Westchester co., SE N.Y., a suburb of New York City, on Long Island Sound at the mouth of the Byram River, and on the Conn. border; settled after 1660, inc. 1868. Primarily residential, it produces some household goods. Gen. , Newburgh to New Rochelle New Rochelle (rōshĕl`), city (1990 pop. 67,625), Westchester co., SE N.Y., on Long Island Sound; settled by Huguenots 1688, inc. as a village 1858, as a city 1899. , Yorktown to Yonkers, The Community Preservation Corporation (CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. ) has been providing financing to rebuild and revitalize neighborhoods throughout the Hudson Valley
The Hudson Valley refers to the canyon of the Hudson River and its adjacent communities in New York State, generally from northern Westchester County northward to the cities of Albany and Troy. for the past 16 years. This month, CPC celebrated a milestone--a half billion dollars invested and more than 10,000 units of new housing created or preserved in communities throughout the Hudson Valley. Joining CPC for the celebration were New York State Comptroller The New York State Comptroller is the chief fiscal officer of the U.S. state of New York. The duties of the comptroller include auditing government operations and operating the state's retirement system. Alan Hevesi Alan G. Hevesi (born January 31, 1940) hails originally from Queens, New York and is of Jewish descent.[1] He is the former Comptroller of the State of New York. , Westchester County Executive Westcheste County Executive is the head of the executive branch of the Westchester County government. The county executive has power to veto acts of Westchester County Board of Legislators [1] History Andrew Spano, New Rochelle Mayor Timothy Idoni and other local officials from communities throughout the Hudson Valley. The celebration was held at Davenport Lofts, One of the most successful projects financed by CPC in the Hudson Valley. Located in the former Bloomingdale's department store on Main Street in New Rochelle, Davenport Lofts features 72 loft apartments, all of which are sold and occupied. Since opening its Hudson Valley office in Hawthorne in 1989, CPC has financed a wide range of housing in the region including: 1,212 units of senior housing; 187 units of special needs housing; 1,585 units of cooperative housing cooperative housing n. an arrangement in which an association or corporation owns a group of housing units and the common areas for the use of all the residents. and; 3,521 units of subsidized housing In Westchester County alone, CPC's investment totals more than $315 million with nearly 6,660 units of housing. Of that total, $140 million has been invested in Yonkers, $55 million in Mount Vernon and $54 million in New Rochelle. In addition to Westchester, other counties served by CPC's Hudson Valley office include Dutchess ($50 million invested),Orange ($50 million), Rockland ($36 million), Ulster ($24 million) and Putnam ($2 million). "The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Common Retirement Fund has been a proud partner with the CPC since 1992," said New York State Comptroller Alan Hevesi. "In that time, through the extraordinary efforts of Michael Lappin and his talented team, we have invested $400 million to create more than 6,000 units of affordable housing statewide, including the Hudson Valley. My sincerest congratulations go out to the CPC on reaching this milestone. I am extremely proud to have been a part of it, and I look forward to working with them to help even more New Yorkers find decent, affordable homes." "This is a tremendous milestone for the CPC Hudson Valley Office. "We are very proud of the contribution we have made to the overall success of the company and of the impact we have had in the creation of affordable housing and the redevelopment of so many communities throughout the lower Hudson Valley," said Sadie McKeown, Senior Vice President and Regional Director of CPC's Hudson Valley Office. The Community Preservation Corporation is a not-for-profit mortgage lender that finances residential multifamily development throughout New York and New Jersey. Since its founding in 1974, CPC has invested more than $4.2 billion in more than 110,000 units of housing in New York and New Jersey. |
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