Cestero: “Affordable homeownership has often helped to lay the foundation for stability and subsequent revitalization in underserved communities.”
NEW YORK CITY—The Community Preservation Corp. and Goldman Sachs have announced the creation of a $70 million loan facility to finance projects that create opportunities for affordable home ownership for moderate-and middle-income households here.
The facility will finance construction loans for developers who receive subsidies from the NYC Dept. of Housing Preservation and Development for the construction and rehabilitation of up to 350 affordable home ownership units over the next 18 months throughout the city.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
