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CPC celebrates $500m home building milestone.

Recently, The Community Preservation Corporation celebrated a milestone--a half a billion dollars invested and more than 10,000 units of new housing created or preserved in communities throughout the Hudson Valley.

The CPC has been providing financing to rebuild and revitalize neighborhoods throughout the Hudson Valley for 16 years.

Joining CPC for the celebration at Davenport Lofts, one of the most successful projects financed by CPC were New York State Comptroller Alan Hevesi, Westchester County Executive Andrew Spano, New Rochelle Mayor Timothy Idoni and other local officials. "The New York State Common Retirement Fund has been a proud partner with the CPC since 1992," said 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."

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.
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Title Annotation:Community Preservation Corp.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:May 4, 2005
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