Approach

Center Development understands that success rests on a foundation of thoughtful planning. To this end, the company has evolved a ten-step process in its quest for excellence in every development.

CDC carefully considers every aspect of a site, including desirability and potential pitfalls, design possibilities, market potential, and the environmental and social impact of a project on the surrounding community.

A thorough marketing study is conducted for each project to confirm its financial feasibility and help refine the development program.

Assemblage strategies range from private purchase to acquisition with the assistance of government agencies. Sites may be acquired on a fee-simple basis or through a long-term lease.

Existing condition surveys and environmental assessments are conducted for all rehabilitation projects. For new construction, soil analysis and other subsurface investigations are also undertaken. CDC's professional engineering staff oversees the entire site assessment process.

CDC's development team and the expert architects it employs work together to ensure that the design of the project closely follows the development program and that the aesthetic appearance of the project is sensitive to its surroundings.

Development and equity funds are supplied by the principals and/or by syndicating interests in the projects to other investors --- either conventionally, or through such vehicles as the federal Low Income Housing Tax Credit program.

One of the keys to successful urban revitalization is knowing the financing tools available and having the expertise to employ them appropriately. CDC has decades of experience working with local, state and federal agencies, as well as private investors and institutions, in structuring the most efficient blend of public and private debt.

To enhance mortgage credit, CDC has employed the federal Low Income Housing Tax Credit program; Senior and Assisted Housing programs; various New York City Housing Preservation and Development initiatives; New York State Division of Housing and Community Renewal programs; U.S. Department of Housing and Urban Development mortgage insurance, Section 8 vouchers; and Public Housing Authority programs.

The selection and supervision of subcontractors is one of the most critical elements of successful development. CDC Construction Corporation carefully screens and supervises each contractor employed to ensure that all work is completed on schedule and within budget.

Newly created residential and commercial real estate must be marketed competitively. CDC's marketing strategies are designed and implemented to ensure optimal rents and timely occupancy.

Successful management of both residential and commercial properties is essential to enhancing property values. CDC Management Corporation has an experienced team of hands-on, technically proficient personnel. The team uses state-of-the-art property management and maintenance software accessed through a local area network within the home office and via the Internet from satellite offices. Whether it is the use of consolidated purchasing to keep costs down or meticulous record keeping to ensure that building equipment receives regular preventive maintenance checks, this integrated approach has made CDC Management Corporation a leader in the field of building management.