CPDC 2014 Year at a Glance
This year was a huge success for CPDC. Below are a few highlights from 2014:
- CPDC launched its new website built on a robust platform and featuring interactive timelines, audio-visual presentations, new publications and more.
- Acquired in September 2013 through the Housing Partnership Equity Trust REIT, Woodmere Trace and its innovative financing mechanism attracted the attention of National Public Radio (NPR) and was featured on their evening news program, “All Things Considered.” Moderate renovations of the property were completed in October 2014.
- Over 400 volunteers joined with CPDC staff, board members, residents, KaBOOM! and several funding partners (Redskins Charitable Foundation, Clark Construction, J. Willard and Alice S. Marriott Foundation, and Marriott International) to build new custom-designed playgrounds at our Cedar Heights and Edgewood Commons communities.
- “Give. Grow. Thrive.” was the theme of the 2014 Volunteer Recognition Ceremony. CPDC celebrated the outstanding contributions of more than 300 volunteers serving across our communities.
- CPDC closed on the refinance/recapitalization of three properties totaling an investment of $73.5 million, including $33.2 million for renovations. Additionally, the organization secured a 9% tax-credit allocation of $293,202 resulting in equity proceeds of $2.9 million for a 77-unit senior building in Richmond, VA and will close on a $9 million acquisition in Newport News by year end.
- CPDC adopted a new strategic plan that propels the organization forward in several new and exciting directions.
- CPDC published our first annual report highlighting our real estate and asset management, resident services, volunteer engagement and other accomplishments for 2013.
- CPDC was featured in the winter 2014 edition of Affordable Housing News.