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CPC Resources

In late 1992, CPC created CPC Resources, Inc. (CPCR) as a wholly-owned development subsidiary. Its purposes include consulting on a wide range of affordable housing problems and investing equity to purchase troubled residential properties in an effort to restore their viability.

To accomplish this, CPCR created two equity investment funds. Since its inception, CPCR has constructed more than 1100 units in 30 development projects.

CPCR's most significant accomplishment to date was the restoration of the vast Parkchester complex in the Bronx. This consisted of the purchase, (along with two experienced developers), of the 6,362 unsold condominiums, 438,000 square feet of commercial space, and five garages. The $250 million effort upgraded and modernized all 12,271 apartments, without tenant displacement, and reclaimed this vital community. Click here to read the Parkchester turnaround story.

In addition, CPCR has created a unique Infill Housing Model -- an efficient, cost effective prototype for affordable housing throughout the City. Since completion of the first project under this model--a 16-unit market rate condo in Park Slope-CPCR has adapted the prototype to fit rental as well as ownership housing parameters. This well-received model can now meet housing needs across the income spectrum, and CPCR plans to move forward with numerous additional infill units.