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An article by LISC NYC Executive Director Sam Marks is featured in the latest report by Cornerstone Capital Group, a leading advisory firm for foundations, family offices, individuals, and other impact investors. The article, The Creativity Lens in Practice: LISC’s NYC Inclusive Creative Economy Fund, describes how LISC NYC has been raising new impact investment capital to fund loans to affordable artist studios, spaces for artisans and light manufacturers, and cultural venues.
Attend this free workshop to get the latest information on how the RAD program can position HUD 202 PRAC properties to undertake physical upgrades and/or rehabilitation. Also learn about opportunities to develop new affordable housing on underutilized HUD 202 land.
LISC NYC and National Equity Fund recently celebrated the closing of Phase 1 of BK Union, the preservation of five Bronx buildings comprising 124 units of affordable housing, a joint venture between Banana Kelly Community Improvement Association (Banana Kelly) and the Joint Ownership Entity NYC (JOE NYC).
LISC New York City is dedicated to helping low-income New York City neighborhoods become healthy communities of choice – good places to live, do business, work and raise families. LISC has nearly four decades of experience developing the infrastructure of community-based organizations by providing technical and financial assistance; building capacity of local institutions to respond to changing community needs; sharing best practices to maximize precious resources; and brokering collaboration among its vast network of partners—government, nonprofit, and corporate—to tackle issues on the community level.
Over the last 36 years, LISC New York City has invested over $2.5 billion in more than 75 New York City community development corporations (CDCs) and other local groups. With our support, these organizations have developed over 37,000 affordable homes and apartments as well as 1.7 million square feet of retail and community space. In 2015 alone, LISC New York City and our affiliates provided over $13 million in financing for affordable housing developments and over $120 million in equity investments.