Every Week Counts For Affordable Housing: How Industry Leaders Can Help Amid Federal Program Delays
America’s affordable housing crisis is nearing a breaking point. More than 10 million extremely low-income renter households compete for too few affordable units, creating a shortage of 7.1 million homes. Federal rental assistance programs help families, but many more remain on waiting lists or in precarious situations. At the time of writing, in this environment, […]
Who Qualifies for Affordable Housing?
In California, the cost of housing is among the highest in the country, making affordable housing essential for many working families. The Area Median Income (AMI) is used to determine eligibility for many publicly-funded affordable housing programs, particularly through the Low-Income Housing Tax Credit (LIHTC). According to the Department of Housing and Urban Development (HUD), […]
The Low-Income Housing Tax Credit (LIHTC): A Critical Tool for Affordable Housing Development
By: Belinda Lee, Director – Development The Low-Income Housing Tax Credit (LIHTC) program has been an essential component of affordable housing finance since it was enacted as a part of the Tax Reform Act of 1986. Originally created as a tool to encourage public-private partnerships to increase the low-income housing stock, it has been modified […]
What Is Affordable Housing and Why Does It Matter?
Affordable housing refers to housing that is reasonably priced, allowing low- and moderate-income individuals or families to live comfortably without spending an excessive portion of their income on housing. Typically, the standard guideline is that housing costs, including rent and/or mortgage payments and utilities, should not exceed 30% of a household’s gross income. Affordable housing […]
Use It Or Lose It: Ensuring The Creation Of Affordable Housing Through Volume Cap
Originally published on Forbes Business Councils by Seth Gellis, President of CPP. With the continued urgent need for more affordable housing across the country, industry experts and academics are looking for solutions, whether they involve preserving existing communities nationwide or creating additional units where they are needed most. According to a recent study by the […]
CPP Announces Acquisition of Canoga Park Apartments in Los Angeles, California
CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer has announced the acquisition and planned renovation of Canoga Park Apartments, an affordable housing development in Los Angeles, Calif. This is the fifth community in the greater Los Angeles area for CPP and the 60th in the state. Built in 1983, Canoga Park Apartments is comprised of […]
New Solutions To Old Problems: Creating Efficient And Effective Affordable Housing Developments
Originally published on Forbes Business Councils by Seth Gellis, President of CPP. It’s no secret that there is a nationwide housing crisis. According to the National Low Income Housing Council, “there is a shortage of more than 7 million affordable homes for our nation’s 10.8 million plus extremely low-income families.” And that’s just one of […]
Community Preservation Partners (CPP) Appoints Belinda Oakes as New Chief Financial Officer
Community Preservation Partners (CPP), one of the nation’s most active affordable housing preservation developers, today announced the appointment of Belinda Oakes as chief financial officer. Oakes will be responsible for the development, oversight and maintenance of financial policies and accounting systems and functions, ensuring proper financial controls are in place. Working closely with various divisions throughout […]
CPP Housing Closes on Third New Mexico Portfolio, Providing Much-Needed Refinancing and Rehabiliation to 20 Rural Communities
Community Preservation Partners (CPP Housing), a national affordable housing developer committed to creativity, performance and purpose, today announced the closing of six rural communities in Central New Mexico. This marks the final installment in a total grouping of 654 units in 20 properties across 10 counties in the state that began in 2019. CPP serves […]
Community Preservation Partners Debuts Refreshed Brand with Focus on Corporate Mission, Vision and Values; Anchors Organizational Identity for Next Phase of Accelerated Growth
Community Preservation Partners (CPP Housing), one of the nation’s most active preservation developers, today announced its brand relaunch, including a new logo, messaging platform, visual identity and revamped website. Positioned with the new tagline, “Creativity. Performance. Purpose. A Different Way to Home.,” the new branding underscores CPP’s mission of revitalizing, rehabilitating and preserving affordable housing communities across […]