CPDC

Community Preservation and Development Corporation is a non-profit organization operating in the Mid-Atlantic region that was established to create and preserve financially sound, and socially responsible affordable housing for low and moderate income individuals and families through acquisition, development and ownership; and to develop community development programs with the participation of the residents, that strengthen their communities and increase opportunities for individual growth. Typical multifamily developments range between 100-700 units in the DC/VA/MD area and are competitive with for-profit developments. CPDC currently has a portfolio of approximately 17 properties/3,433 units of which 1,061 are being completed at this time with five properties/645 units currently in the pipeline. They are evaluating approximatelyover 10 new development opportunities each month. Financing sources include state and local government funds, HUD, LIHTC (4%, 9%), conventional debt, various grant programs and traditional equity. Equity partners include Fannie Mae, SunTrust, WNC, JER Hudson and Richman Group. The organization is competitive with and operates much like a private, for-profit developer. It is low-ego, yet fast paced with high standards of achievement placed upon its associates. Self-managing, aggressive types do well here.