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The Community Preservation Corporation
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Finances affordable housing across New York
The Community Preservation Corporation
Work Here?
Finances affordable housing across New York
Overview
The Community Preservation Corporation provides financing for affordable housing in New York City and statewide, partnering with government agencies, banks, and community groups to offer customized capital solutions for housing providers. Its financing leverages public and private funds and a wide network to support development and rehabilitation, helping projects attract loans and incentives that might not be available through traditional private financing. CPC stands out through its 50-year track record, deep multi-stakeholder relationships, and a history of financing more than 225,000 affordable housing units with about $14.4 billion in investments, focusing on underserved neighborhoods. Its goal is to expand access to quality affordable housing and revitalize communities by acting as a trusted capital partner that enables housing providers to complete projects serving low-income residents, seniors, and people with disabilities.
About The Community Preservation Corporation
Industries
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
New York City, New York
Founded
N/A
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Simplify's Take
What believers are saying
- Micron’s $100 billion Clay project drives seven years of housing demand across six counties.
- Housing CNY’s $150 million pool targets at least 2,500 homes with subordinate financing.
- CFHF reached 4,709 units in pipeline by June 2026, expanding CPC’s climate platform.
What critics are saying
- Bronx tenants and Ritchie Torres attacked CPC in April 2026 over Parkash building oversight.
- FY25 liabilities and line usage show leverage; CPC drew $37.5 million on credit.
- CPC’s public-program dependence risks political backlash if state partners tighten underwriting or oversight.
What makes The Community Preservation Corporation unique
- CPC administered New York’s $150 million Housing Central New York Fund in February 2026.
- CPC closed 90-plus loans in FY25, financing $955 million and 6,715 units.
- CPC runs state climate programs, including CFHF, with 2,414 homes financed by June 2026.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Commuter Benefits
Paid Vacation
Paid Sick Leave
Paid Holidays
Parental Leave
Disability Insurance
Tuition Reimbursement
Remote Work Options
Flexible Work Hours
Hybrid Work Options
Professional Development Budget
Company News
New York Governor Kathy Hochul has launched the Housing Central New York Fund, a $150 million public-private initiative to accelerate housing production in response to Micron's $100 billion regional investment. Empire State Development is contributing $30 million, with Micron, local financial institutions and other partners providing $120 million. The revolving loan fund aims to develop at least 2,500 workforce housing units over seven years across six counties: Cayuga, Cortland, Madison, Oneida, Onondaga and Oswego. A 2023 study found the region needs 30,000 additional housing units, requiring triple the current annual production rate. Community Preservation Corporation will manage the fund, providing subordinate financing for mixed-income, multifamily housing. Projects must meet affordability requirements, including 10% of rental units affordable to households earning at or below 80% of Area Median Income.
Community Preservation Partners has acquired the Witmer Manor workforce housing complex in Los Angeles for $48.4 million.
CPP is partnering with LifeSTEPS to provide onsite adult education, health and wellness, and skill-building classes and services to residents.
In February 2020, CPC raised $150 million through its inaugural public debt offering of Sustainability Bonds, making it the single largest bond sale completed by a community development financial institution (CDFI) at the time.
Industry awards recognizing impact, innovation and leadership in community development finance were presented at OFN40, the nation's premiere CDFI convening. LOS ANGELES, Oct. 24, 2024 /PRNewswire/ -- Opportunity Finance Network, the nation's leading network and intermediary focused on community development investment, recognized three organizations and two individuals for significant contributions to the community development finance industry. The awards recognize innovation, leadership, and community impact. The inaugural awards were presented over the past three days at OFN's 40th annual conference in Los Angeles. "The strength of our industry is in our people, and our people show up every day motivated and driven by the mission to create opportunity for all," said OFN President and CEO Harold Pettigrew
The Community Preservation Corporation is Hiring for 13 Jobs on Simplify!
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About The Community Preservation Corporation
Industries
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
New York City, New York
Founded
N/A
The Community Preservation Corporation is Hiring for 13 Jobs on Simplify!
Find jobs on Simplify and start your career today