Community Preservation Corp. Surpasses $1B Milestone in Fiscal 2022
The Community Preservation Corporation (CPC) said Monday it had deployed over $1 billion in capital to support affordable and workforce housing and community development projects during the 2022 fiscal year that ran from July 1, 2021 through June 30, 2022. CPC’s work across its construction and permanent lending, mortgage lending, and equity investing platforms and through its initiatives and programs financed 144 transactions totaling 9,638 units across 18 states.
“This fiscal year was a tremendous success in which CPC continued to grow its impact, deliver volume, and expand important partnerships despite challenges that lingered from the pandemic,” said Rafael E. Cestero, CEO of Midtown Manhattan-based CPC.
He added, “We’re excited about the $1-billion milestone because it represents an expansion of our mission and our ability to invest, share our knowledge and resources, and create an impact in communities where it is needed most.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!