Community Preservation Corporation

Daytime view of Riverdale Osborne Towers

Developers Close on $100M Refinance for Riverdale Osborne Towers in Brownsville, Brooklyn

The Community Preservation Corporation (CPC) and Proto Property Services have closed on a $100 million refinance for Riverdale Osborne Towers, a 525-unit affordable housing complex in Brownsville, Brooklyn. The partners plan to use the financing to complete extensive renovations and facility modernization throughout the complex, which is addressed as 420-440 Watkins Street. The funds will also ensure the property remains financially stable and preserves long-term affordability for residents.

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Rendering of Wise Towers - Permanent Affordability Commitment Together [PACT]

NYCHA, Affordable Housing Groups, and Private Developers Forge $271M Deal to Upgrade Public Housing Throughout Manhattan

The NYCHA has revealed plans to significantly renovate and repair its aging portfolio of affordable housing properties in a deal valued at $271 million. Referred to as PACT, or Permanent Affordability Commitment Together, the consortium of public and private entities has committed to renovations on 16 individual buildings including 1,718 apartments throughout Manhattan.

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