CPC SECURES $250 MILLION IN FINANCING FROM CITI, HDC, AND HPD FOR AFFORDABLE HOUSING

New York, NY – March 13, 2013 – (RealEstateRama) — The Community Preservation Corporation (CPC), a leading mortgage lender for multi-family affordable housing, today announced that it has secured $250 million in financing from Citi for the construction, rehabilitation and preservation of affordable housing in New York. The capital will help finance the creation or preservation of nearly 6,000 units of much-needed low- and moderate-income housing throughout New York State, including the construction of approximately 3,000 affordable apartments in New York City.