YEAR IN REVIEW
2015 was a busy year for CPDC that included expansion into three new cities, several ‘firsts’, a fresh, new resident engagement program, evolution of our resident services model and multiple innovative partnerships that are paving the way toward meaningful impact in community development.
As 2015 draws to a close, check out our wins in real estate and asset management, resident services, volunteer engagement, community development and of course, highlights from CPDC HQ!
- Opened a new office in Richmond, VA with two new team members: a Real Estate Development Officer and a Director of Community Development
- Acquired our first property in Newport News, VA: 274 units at Auburn Pointe.
- Closed on our first property in Baltimore, MD: 130 units at Hollins House to be redeveloped for seniors and the disabled.
- Broke ground on our first property in Richmond, VA: 77 new senior apartments to be developed as Highland Park Senior Apartments. Highland Park is Phase I of an $11 million project to add more than 200 affordable units in Richmond.
- Celebrated the $50 million revitalization of Edgewood Commons and renovation of 550 affordable apartments with a ribbon-cutting for Phase I and groundbreaking to launch Phase II.
- Completed a $5 million reinvestment of SE D.C. Arbor View community including rehabilitation of 51 units, renovation of 5,000 square foot on-site daycare center, and community center expanded to for resident programs and food pantry.
- Led the industry in innovative financing and became the first to return capital ($4.3 million) to the Housing Partnership Equity Trust REIT from the refinancing of our Woodmere Trace community in Norfolk, VA.
- Ramped up community development and forged strategic partnerships across markets including with: Virginia Commonwealth University to encourage restoration and reuse of historic homes in Richmond; Metropolitan Police Department to tackle spike in D.C. violent crime. CPDC also acquired additional parcels near Highland Park Senior Apartments in Richmond to be developed into a community-serving project.
- Launched ServiceWorks, an initiative to build leadership skills of 16-24 year old residents of CPDC communities through soft skills training, career coaching and volunteer engagement.
- Published the 25th Anniversary Commemorative edition of our annual report highlighting our real estate and asset management, resident services, volunteer engagement and other accomplishments.
- Rolled out a new model for resident services and community development now called “Community Impact Strategies” to better reflect the broad work we do with residents and their surrounding communities.
For more on how we’re growing and thriving, be sure to see our “2015 By the Numbers!”