Tuesday, August 21, 2018

Housing Development Policy and CDCs

Community Development Corporations (CDCs) are not-for-profit organizations based in a specific neighborhood or community – usually historically low-income neighborhoods that have suffered from economic disinvestment.   They are mission-driven to build and improve their neighborhoods.  Over the last 20 years, these CDCs have developed more than 100,000 units of affordable housing, and stabilized neighborhoods through youth, workforce, education, and economic development programs.    CDCs have also become a thriving part of New York City’s housing development community – often times working to provide vital affordable housing when others would not.   Throughout this, CDCs have remained committed to their neighborhood.   “Different neighborhoods have different needs, and you need to be in touch with the community to know what those are.   CDCs are really the organizations that get this.” Today, times are different, and the challenges facing neighborhoods are different as well.   Instead of burnt out buildings, stalled condo developments dot neighborhoods.  Instead of redlining neighborhoods, irresponsible lenders have decimated the affordable housing stock through predatory lending.   The need for the neighborhood stability, community, and development that CDCs provide is stronger than ever.   Today CDCs tackle everything from Homeownership Counseling, to Eviction Prevention, to Responsible Development and Management.    But one thing in common is that no matter the area, in all 5 boroughs of New York CDCs have their ear to the ground of the community, and are there to address the needs of the people in the neighborhood.