Developers honored by Phipps housing charity.Phipps Houses, the largest nonprofit provider of affordable housing in 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. , recently honored two individuals whose work contributes significantly to building strong communities. Adam Weinstein, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Phipps Houses, presented awards to Bryce Blair, chairman and CEO of AvalonBay Communities AvalonBay Communities, Inc. (NYSE: AVB) is an Alexandria, Virginia-based public real estate investment trust. The company specializes in acquiring, developing, redeveloping and managing high-quality apartment communities in high barrier-to-entry markets, such as the Northeast, , Inc. and Richard Paul Richman, chairman and founder of The Richman Group, Inc. at the annual Phipps Houses Community Builder Awards Gala. Emmy award-winning anchor and WNBC WNBC Wearing Nothing But Chainmail correspondent Jane Hanson emceed the gala at Cipriani 42nd Street. The event raised an estimated $850,000 that will benefit Phipps Community Development Corporation (Phipps CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ), the not-for-profit educational, social and human services arm of Phipps Houses. AvalonBay Communities, Inc. is among the nation's largest and leading apartment Real Estate Investment Trusts and was Phipps Houses' lead partner in the redevelopment of the Cooper Square Urban Renewal Area. The Richman Group, Inc. a longtime developer, owner and financier of mixed-use and mixed-income housing, has been an active participant in housing financed with the low-income housing tax credit The Low Income Housing Tax Credit (LIHTC; often pronounced "lye-tech") is a tax credit created under the Tax Reform Act of 1986 (TRA86) that gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans. , and has been an equity partner with Phipps Houses on nearly 400 units of affordable housing. "At Phipps Houses we have always believed in advancing both housing and community building," said Weinstein. "AvalonBay Communities and The Richman Group, under the extraordinary leadership of Bryce Blair and Richard Paul Richman, have been strong partners in providing much-needed affordable housing to New York City." Weinstein also saluted Mayor Bloomberg for his visionary leadership in expanding the City's investment in the affordable housing, adding, "On behalf of Phipps Houses, we thank the many federal, state and local officials who are so critical to both our human services programs and bricks and mortar A store (shop, supermarket, department store, etc.) in the real world. Contrast with clicks and mortar. development." Dinner co-chairs included Robert C. Dinerstein, Greenberg Traurig, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ; Joel I. Picket, Gotham Construction Company, LLC; and Frederick S. Harris of AvalonBay Communities, Inc. Bronx Music Works provided entertainment. Funds raised by the dinner will support Phipps CDC's youth and family development programs in the Bronx and Manhattan. Phipps Houses was created in 1905 with a gift of $1 million dollars from Henry Phipps to build housing affordable to low-income families. Today, Phipps Houses provides housing for 4,300 families in its own properties, and another 9,000 under management for other housing owners. Phipps has a development pipeline of 500 new apartments a year. |
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