CPC closes $16M in loans for Harlem projects.The Community Preservation Corporation's (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. ) Bronx/Manhattan office, in partnership with the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Department of Housing Preservation (HPD HPD Honolulu Police Department (Honolulu County, Island of Oahu) HPD Housing Preservation and Development HPD Housing Preservation and Development (New York City Department) ) has closed on three Harlem construction loans totally nearly $16 million in a one-week span. Financing of $9.2 million will provide the gut rehabilitation of two seven-story buildings in the Hamilton Heights section of Harlem. The properties, located at 3603-3605 Broadway, will be reconfigured into 37 units. The developer is a Housing Development Fund Corporation which is sponsored by the Urban Homesteading Assistance Board, an organization formed in 1973 to create and facilitate innovative solution to 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 City's housing abandonment crisis. CPC and HPD will provide a $4.5 million construction loan to developer Malcolm Shabazz Development Corporation, an outgrowth of the Masjid Malcolm Shabazz Mosque which promotes housing and economic development activities in Harlem. Using HPD's Third Party Transfer program, which forecloses on tax delinquent properties and conveys them to qualified third parties for rehabilitation, the developer will renovate the six-story building located at 2512 Adam Clayton Powell Adam Clayton Powell can refer to:
A loan of $2.2 million will provide for the gut rehabilitation of a five story Harlem building located at 131 East 101st Street. As another UHAB-sponsored project the building contains 10 rental units, which will be converted into HDFC HDFC Housing Development Finance Corporation (India) HDFC Housing Development Fund Corporations (New York City limited-equity, low income, housing cooperatives) HDFC Huntington's Disease Family Center co-ops upon completion. |
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