Center Development Corporation
The first Center company, the Center for Housing Partnerships (CHP), was established in 1971 to develop residential and mixed-use real estate projects in New York's inner-city communities. It was founded by William N. Hubbard, Chairman and President of Center Development Corporation. As an attorney and advocate of affordable housing in East Harlem in the late 1960's, Mr. Hubbard witnessed the catastrophic devastation caused by disinvestment in that community.
CHP was formed to address the problems of urban decay in East Harlem, the Bronx, and other communities. From the beginning, the company emphasized rehabilitating existing housing stock when possible, rather than demolition and new construction. This approach improves neighborhoods, while conserving resources and preserving their architectural and historic integrity.
In 1972, CHP was designated a "Project Rehab" sponsor by the U.S. Department of Housing and Urban Development and became an associate of the National Housing Partnership. Since then, the company has been involved in the development, ownership and management of more than twenty projects in the greater New York metropolitan area, with a total replacement value in excess of $500 million.
In 1989, CHP formed Center Development Corporation --- a full-service real estate organization designed to carry out future development activities.