The Community Preservation Corporation

What The Community Preservation Corporation does

The Community Preservation Corporation (CPC) is a New York-based 501(c)(3) nonprofit community development financial institution (CDFI) founded in 1974 to finance the creation and preservation of affordable and workforce multifamily housing. CPC is the largest CDFI in the United States solely dedicated to multifamily housing, with more than $16 billion deployed and over 247,000 units financed (276,000+ per the FY2025 update) across its 50-year history. The organization operates through a full suite of lending, investment, and program-administration products: construction and bridge loans ($250,000 to $15 million+), permanent mortgages through CPC Mortgage Company (a cooperative with Cinnaire and National Equity Fund acting as the only nonprofit-owned Freddie Mac, Fannie Mae, and FHA multifamily lender across 23 states), equity investments of $2.5M–$7.5M, and government-program administration including the $250M Climate Friendly Homes Fund, $150M Housing Central NY Fund, and NYC HPD's CPAR program. The 2024 launch of CPC Climate Capital — which secured a $2.4 billion allocation from the EPA Greenhouse Gas Reduction Fund — extended the platform into nationwide decarbonization finance, while Community Stabilization Partners (CSP), a joint venture CPC manages with Neighborhood Restore and Related Fund Management, services 860+ permanent loans and ~35,000 rent-stabilized units acquired from the FDIC after Signature Bank's collapse.

CPC's revenue model combines interest income from construction, bridge, and permanent lending (priced on per-deal term sheets with spreads driven by risk and mission alignment), servicing fees on a ~$12 billion loan portfolio (including CSP), equity participation returns, and program-administration fees charged to government partners. Distribution is operated through seven New York State regional offices (NYC, Hudson Valley, Albany, Syracuse, Rochester, Chappaqua, Buffalo) and a national agency-lending channel, with go-to-market driven by long-standing government relationships (NYC HPD, NYCHA, NYS HCR, NYSERDA, ESD) and capital partnerships with NYS Common Retirement Fund, JPMorgan Chase, Goldman Sachs, Citi, and others. CPC holds an AA- S&P rating and is the first nonprofit real estate company to achieve carbon-neutral operations. Customer segments include government housing agencies, nonprofit and for-profit multifamily developers, institutional investors, and BIPOC and emerging developers served via the ACCESS initiative. Internally, CPC uses a proprietary online tool, CPC VeriFi, which applies big-data modeling to project utility savings and financing options for multifamily building efficiency upgrades.

Name

The Community Preservation Corporation

Legal name

The Community Preservation Corporation

Website

https://communityp.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

The Community Preservation Corporation is a nonprofit CDFI founded in 1974 that provides construction, bridge, and permanent mortgage financing, equity investments, and program administration for affordable and workforce multifamily housing developers, serving government agencies, nonprofit and for-profit developers, and institutional investors across 23 states.

Ownership category

akta.pro rank

Product category

Multifamily Affordable Housing Finance

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Investors, Nec (6799)

akta.pro primary industry

Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives) (BPAIANAE)

Keywords

• Multifamily housing finance
• Affordable housing lending
• Construction bridge financing
• Mortgage lending services
• Community development lending

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income — Construction & Bridge Lending: CPC generates interest income from construction loans ($250,000–$15 million) and bridge financing products for multifamily developers across New York State and nationally.
2. Interest Income — Permanent Mortgage Lending (CPC Mortgage Company): CPC Mortgage Company, a first-of-its-kind cooperative of impact-driven nonprofit mortgage lenders, originates Freddie Mac, Fannie Mae, and FHA multifamily loans nationally. Revenue is generated through loan origination fees and interest income.
3. Loan Servicing & Asset Management: CPC services its own construction and bridge loans and permanent mortgages, as well as a nearly $12 billion servicing portfolio including the Community Stabilization Partners (CSP) portfolio of 860+ permanent loans for Signature Bank's rent-stabilized portfolio.
4. Equity Investing: CPC's Equity Investment platform provides mission-driven investments of $2.5M–$7.5M into properties, portfolios, platforms, and funds, generating returns through equity participation and appreciation.
5. Sustainability & Grant Administration: CPC administers government-funded programs such as the $250 million Climate Friendly Homes Fund and the $150 million Housing Central New York Fund, generating fee income for program administration.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

The Community Preservation Corporation (CPC) is a national nonprofit Community Development Financial Institution (CDFI) that finances affordable and workforce multifamily housing. It originates construction loans ($250,000–$15M+), bridge loans, permanent mortgages through CPC Mortgage Company (Freddie Mac, Fannie Mae, FHA across 23 states), mission-driven equity investments ($2.5M–$7.5M), and administers government-funded sustainability and affordable housing programs.

Product overview

The Community Preservation Corporation operates as a national nonprofit housing finance company offering a multi-product platform centered on affordable and workforce housing finance. The core offerings include Construction & Bridge Financing (ranging from $250,000 to $15+ million) and Mortgage Lending through CPC Mortgage Company (the nation's only nonprofit-owned Freddie Mac, Fannie Mae, and HUD/FHA lender). Equity Investing provides $2.5M–$7.5M mission-driven investments. Sustainability programs include the $250M Climate Friendly Homes Fund for electrification retrofits and the newly launched CPC Climate Capital subsidiary (2024). The ACCESS initiative ($40M) supports BIPOC entrepreneurs in real estate development. Specialized programs include the $150M Housing Central New York Fund for Central NY housing tied to Micron's investment, and the HPD CPAR program for NYC moderate rehabilitation. These products are unified by CPC's mission to expand affordable housing, close the racial wealth gap, and invest in the green economy.

Differentiator

Problem solved

Functional benefit

Brands

• Climate Friendly Homes Fund: $250 million fund providing grants for owners of 5-150 unit rental buildings in New York State to replace less energy-efficient systems with all-electric, high-performance heating, cooling, and hot water heating systems.
• ACCESS
• Housing Central New York Fund

Products and services

• Construction & Bridge Financing Construction loans from $250,000 to $15 million for multifamily projects including mixed-use, adaptive reuse, affordable/supportive housing, and ground-up construction, plus senior-secured bridge loans up to $8 million for newly completed small multifamily rental properties in NY and NJ.
• CPC Mortgage Company The nation's only nonprofit-owned multifamily mortgage lender cooperative, offering permanent mortgage financing through Freddie Mac, Fannie Mae, and HUD/FHA programs to affordable and workforce housing developers nationally across 23 states.
• Equity Investing

Quantifiable outcome

• Over $16 billion invested; 247,000+ units of affordable and workforce housing created or preserved since 1974
• +4 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

23 partnerships are on record, tiered core, major and minor.

• Community Stabilization Partners (CSP) — Lender ArrangementcoreStrategic or Co-development Partner · 6 July 2026CSP (managed by CPC) and its lender agreed to a deal with Ved Parkash (NYC 'worst landlord') to prevent foreclosure on his 24-property portfolio. The lender halted foreclosure on 10 buildings and reduced loan payments for two years while CPC appointed an independent monitor to oversee repairs.
• Community Stabilization Partners (CSP)coreStrategic or Co-development Partner · 15 December 2023CSP is a joint venture consisting of managing member CPC, Neighborhood Restore, and Related Fund Management (RFM). Following the collapse of Signature Bank, CSP partnered with the FDIC to service the rent-stabilized portion of Signature Bank's multifamily commercial real estate portfolio — over 860 permanent loans representing ~35,000 units.
• CinnairecoreStrategic or Co-development PartnerCinnaire joined CPC Mortgage Company as a partner, contributing to the nation's only impact-driven multifamily mortgage lender cooperative alongside CPC and National Equity Fund.
• National Equity Fund (NEF)coreStrategic or Co-development PartnerNational Equity Fund joined CPC Mortgage Company as a partner, contributing to the nation's only impact-driven multifamily mortgage lender cooperative alongside CPC and Cinnaire.
• New York State Homes and Community Renewal (HCR)coreStrategic or Co-development PartnerNYS HCR partners with CPC on multiple programs including the $250 million Climate Friendly Homes Fund, the Housing Central New York Fund ($150M), and general affordable housing preservation and production across New York State.
• Empire State Development (ESD)coreStrategic or Co-development PartnerESD is a joint funder of the Housing Central New York Fund, contributing $30 million in grant seed capital. CPC was selected via competitive RFP to administer the HCNY Fund in partnership with ESD and CenterState.
• Freddie MaccoreChannel Partner/ Reseller/ DistributorCPC Mortgage Company is a Freddie Mac Optigo lender, originating multifamily loans under the Freddie Mac program nationally.
• Fannie MaecoreChannel Partner/ Reseller/ DistributorCPC Mortgage Company is an approved Fannie Mae lender, originating multifamily affordable housing loans under the Fannie Mae program nationally.
• HUD/FHAcoreChannel Partner/ Reseller/ DistributorCPC Mortgage Company is an FHA Multifamily Accelerated Program (MAP) approved lender, offering FHA-insured multifamily loan products nationally.
• CenterState Corporation for Economic OpportunitycoreStrategic or Co-development PartnerCenterState co-created the Housing Central New York Fund alongside ESD and CPC to address housing demand in Central New York driven by Micron's semiconductor investment.
• NYC Department of Housing Preservation and Development (HPD)coreStrategic or Co-development PartnerNYC HPD partners with CPC on multiple programs including the Capital Partnership for Affordable Renovation (CPAR), Neighborhood Pillars, and Build it Back (post-Sandy recovery). CPC also services loans for HPD-administered programs.
• NYC Housing Authority (NYCHA)coreStrategic or Co-development PartnerCPC partners with NYCHA on PACT revitalization transactions and the preservation of public housing through the NYC Housing Investment Initiative.
• Enterprise Community PartnersmajorStrategic or Co-development PartnerEnterprise Community Partners is a key nonprofit development partner on multiple CPC projects including the MLK Apartments redevelopment in Troy, NY and other affordable housing developments across New York State.
• TruFund Financial ServicesmajorStrategic or Co-development PartnerCPC and TruFund Financial Services launched a $6 million joint venture to empower NYS BIPOC housing developers, combining CPC's capital with TruFund's community development expertise.
• L+M Development PartnersmajorStrategic or Co-development PartnerL+M Development Partners is a leading developer of affordable and mixed-income housing and a key strategic partner on CPC-financed projects including the $33 million Hudson Valley portfolio refinancing.
• NYSERDAmajorStrategic or Co-development PartnerNYSERDA (New York State Energy Research and Development Authority) partners with CPC on sustainability programs including building electrification and energy efficiency for multifamily properties.
• Enterprise Community Partners (CFHF)minorChannel Partner/ Reseller/ DistributorEnterprise Community Partners serves as a lending partner in the Climate Friendly Homes Fund, collaborating on identification and screening of building retrofit opportunities across New York State.
• Xenolith PartnersmajorStrategic or Co-development PartnerXenolith Partners is a key development partner for affordable housing in New York City, including the $50 million The Rise Brooklyn development in Brownsville and affordable co-ops in the Bronx.
• Beacon CommunitiesmajorStrategic or Co-development PartnerBeacon Communities is a leading affordable housing developer and strategic partner with CPC on developments across New York and Connecticut, including mixed-income projects.
• Habitat for Humanity New York CityminorStrategic or Co-development PartnerCPC partners with Habitat for Humanity NYC on affordable homeownership projects, including the SEED three-building development in Brooklyn and purchase of 23 homes in Queens and Brooklyn.
• Jericho ProjectminorStrategic or Co-development PartnerJericho Project partners with CPC and HPD on supportive housing developments, including the Bronx renovation to house young LGBTQI adults and the Lynn's Place development.
• DePaulmajorStrategic or Co-development PartnerDePaul is a long-standing nonprofit development partner with CPC on affordable housing across New York State, including the Veddersburg Apartments in Amsterdam and multiple Rochester developments.
• Housing VisionsmajorStrategic or Co-development PartnerHousing Visions is a nonprofit development partner with CPC on affordable and mixed-use housing projects in upstate New York, including the Crescent Commons adaptive reuse in Cortland.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cinnaire: Midwest-based CDFI and partner in CPC Mortgage Company cooperative. Comparable mission-driven multifamily lender with similar product offerings and impact focus.
• Low Income Investment Fund (LIIF): California-rooted CDFI focused on affordable housing and community development finance. Comparable multi-product lending platform serving low-income communities, with strong California state-wide footprint similar to CPC's NY dominance.
• National Equity Fund (NEF): Major LIHTC syndicator and partner in CPC Mortgage Company cooperative. Comparable scale in affordable housing finance with focus on multifamily preservation and development.
• Capital Impact Partners: National CDFI focused on community development, health and social services facilities including affordable housing finance. Operates a similar scale and structure to CPC across multiple product lines.
• Enterprise Community Partners: Major national nonprofit combining real estate development and financing for affordable housing. Enterprise is both a development partner and capital provider in the affordable multifamily space, directly comparable to CPC's model.
• Raza Development Fund: National CDFI focused on Latino community development with significant affordable housing lending. Similar product platform, CDFI structure, and mission-aligned investment thesis.
• National Development Council (NDC): National nonprofit CDFI focused on affordable housing development finance and economic development. Operates similar loan products and technical assistance programs for housing developers as CPC.
• Local Initiatives Support Corporation (LISC): One of the largest national CDFIs focused on affordable housing and community development, with similar lending, equity investing, and policy advocacy operations. LISC operates a comparable multi-product platform across multiple states.
• Reinvestment Fund: Mid-Atlantic-based CDFI with similar multi-product lending for affordable housing and community development. Comparable scale, AA- rating pursuit, and nonprofit CDFI structure to CPC.

Broad incumbents

• Opportunity Finance Network (OFN): National CDFI industry trade association and intermediary. While not a direct lender like CPC, it channels capital to CDFIs including CPC and shapes the broader CDFI lending environment CPC operates within.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CommunityP
• LinkedInlinkedin.com/company/the-community-preservation-corporation
• Xx.com/communityp

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Community Preservation Corporation