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NY gets $63M for housing.

Twenty-four New York community-based developers will receive $63 million this year for neighborhood renewal and affordable housing initiatives in some of New York's most distressed neighborhoods.

The money will come from a record $223-million corporate investment fund announced today by the Local Initiatives Support Corporation (LISC), the nation's largest community development support corporation. LISC announced that 60 U.S. corporations invested the unprecedented amount in its National Equity Fund 1992 Limited Partnership.

Of the 60 corporations involved in the 1992 Fund, 29 are based in New York. The $63 millio available for New York will be used to finance and leverage additional public and private dollars for 27 affordable housing developments. New York is one of 23 cities and regions across the nation that will receive NEF equity financing. nearly 6,800 units.
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Title Annotation:New York, New York real estate developers receive money from corporate investment fund, National Equity Fund 1992 Limited Partnership
Publication:Real Estate Weekly
Date:Mar 17, 1993
Words:133
Previous Article:BOMA report finds occupancies drop in '92.
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