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Owings Mills, MD (October 10, 2018) – Starting today, The Preserve at Red Run is now accepting applications! The Conifer Community is in the final stages of construction, with an anticipated completion date of November 2018.

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The Preserve at Red Run is a brand-new, energy efficient, apartment community, located in Owings Mills, Maryland. The community is surrounded by a Forest Conservation area which provides a quiet and relaxing atmosphere. These spacious one, two- and three-bedroom apartment homes were designed for families in Northwestern Baltimore County, offering the best of location and amenities. Shopping, dining, entertainment, I-795, and so much more are just minutes from your front door.

The Preserve at Red Run is equipped with a beautiful community room, perfect for entertaining, as well as a fitness center and computer lab. Come fill out an application to join our community today!

Applicants must qualify, income restrictions apply, background check required. Please visit our website to download an application or visit our temporary leasing office at Morningside Senior Apartments, 104 Pleasant Ridge Drive, Ownings Mills, MD 21117. Please do not visit the construction site as no leasing assistance is available on site.

Frederick County Building Industry Association hosted its annual Awards of Excellence (AOE) Reception honoring outstanding individuals, organizations and companies. “Members can submit their best project to be measured against the standards of excellence.”

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Conifer Realty, LLC is happy to announce that their joint venture with Interfaith Housing Alliance, Inc. (IHA), Sinclair Way, received two awards at the 2018 Frederick County Building Industry Association Awards of Excellence Annual Reception on Wednesday, May 16, 2018. Sinclair Way is a brand new, mixed-income rental community in historic downtown Frederick, MD. The development received the award for Best Multifamily Project and for Best Integration of Historical Feature.

“Without the support of Frederick and the State of Maryland, we would not be standing here today celebrating this wonderful apartment community,” said Sam Leone, Regional Vice President of Conifer Realty. “Interfaith Housing Alliance and Conifer are committed to increasing the supply and quality of affordable housing available in Maryland, for families, for seniors and disabled individuals.”

Sinclair Way Log Cabin Duringcompressed log cabin after

Bruce Zavos, President at Zavos Architecture + Design, commented, “Sinclair Way is an excellent example of what can be accomplished with vision from the developer, support from the city and state agencies and the creativity of the design team.” He added, “Creating affordable housing so that residents can work and live in the City of Frederick is something all involved should be very proud of.”

This community is a shining example of the IHA, Conifer, the City of Frederick, Frederick County, and the State, working together to address the undeniable need for additional affordable housing in Frederick.

Sinclair Way is situated on 1.6 acres of in-fill property between West Patrick and West South Streets, two main, east-west, arterial roads through the City. The development consists of the construction of 69 apartments in seven buildings, and the historic renovation of two vacant buildings into two apartments. Due to its location within the Frederick Town Historic Preservation District, the entire development was subject to a historic committee review. The careful placement and mix of building types, transformed the property from a vacant, overgrown lot, into an attractive housing community that reconnects the local community and historic fabrics of the overall downtown.

Nearly 13,000 new downtown rental units have been approved in the past 12 years, and another 10,000 are in the works.


Angelo Iannone, seen here on Monday, says The Vanderbilt in Westbury offers "everything that would be in a luxury New York City apartment building." Photo Credit: Barry Sloan

By Maura McDermott
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Updated July 13, 2018 6:00 AM

Long Island’s newest, most luxurious rentals are getting snapped up by affluent empty-nesters and young professionals seeking flexibility, convenience and hotel-like amenities such as pools, concierges and room service.

The demand for high-end rentals has driven up prices throughout the Island. In Nassau County, the average rent for units in multifamily buildings was $2,257 a month in the first three months of 2018, up 3.2 percent from a year ago and 27 percent from five years earlier, Manhattan-based real estate market research company Reis reported. Suffolk County rents have risen by about 2 percent in a year and 13 percent over five years, to an average $1,775 in western Suffolk and $1,654 in eastern Suffolk, according to Reis.

The growing number of rental complexes provides more options for Long Island apartment-hunters, though some planners say the supply still falls far short of demand, especially when it comes to rentals that are priced for recent college graduates, retirees, and people with low to moderate incomes.

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Hofstra students Jeffrey Rozanski and Monika Rivera, seen here on Tuesday, say their Hempstead apartment is more comfortable and economical than living in a dorm. Photo Credit: Newsday/J. Conrad Williams Jr.

Communities such as Patchogue, Farmingdale and Mineola are “flourishing” in part because of new downtown rental buildings, said Richard Guardino, executive director of the Long Island Regional Planning Council. Still, he said, “we’re getting a significant increase in the stock of rental units, but a lot of them are not affordable — you’re talking about $2,500 or $3,000 a month.”

In a sign of how tight the rental market is, Long Island’s vacancy rate is 2.9 percent, higher than Manhattan’s 2.1 percent but roughly half the national rate of 5.9 percent, real estate information company CoStar Group reported.

Developers are scrambling to meet the local demand. New apartments “are snapped up in an instant; you can’t build rentals fast enough, at all different price points, from affordable to market rate to what we would consider higher than market rate,” said Mitchell Pally, chief executive of the Long Island Builders Institute, a trade group.

In the past 12 years, nearly 13,000 new downtown rental units have been approved, and more than half of those have been built, with another 10,000 units making their way through the approval and construction pipeline, said Eric Alexander, the director of Vision Long Island, a Northport-based planning group that supports downtown development and tracks apartment construction.

“The higher end of the market is starting to be serviced now,” Alexander said. “A significant minority of Long Islanders want to live in a downtown, want to live in rental units and are paying a premium to live in rental units. They’re shopping in the downtown, they’re eating and drinking and being part of public life.”

Among the new breed of luxury renters is Angelo Iannone, 56, who sold his 2,700-square-foot house in Roslyn Heights last year and moved into a two-bedroom apartment with a den at the Vanderbilt, a new 195-unit building in Westbury where apartments rent for about $3,500 to $8,000.

“I was living in a house that was comfortable but really too large for me,” said Iannone, an investment banker who is divorced and has a daughter in college and a son who just graduated from college. Living at the Vanderbilt gives him access to a heated pool, outdoor grills, a fitness center, game room and library, plus concierge service and proximity to stores and restaurants, he said.

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Army veteran Thomas Velez rents an apartment in Copiague Commons, an affordable housing complex built by Conifer Realty LLC of Rochester in partnership with the Community Development Corp.. of Long Island. Photo Credit: David L. Pokress

“There’s everything that would be in a luxury New York City apartment building, on Long Island,” he said.

The move made sense financially, too, he said. He had been paying $24,000 in property taxes, and under the federal tax overhaul signed into law last year by President Donald Trump he could only have claimed deductions for $10,000 in state and local taxes.

“The real estate market has had a good run, with many years of appreciation...It was time for me to further diversify my assets,” he said.

Strong demand for high-end rentals — primarily from baby boomers who are selling their homes — has led to a faster-than-expected pace of lease signings at the Vanderbilt, said Steven Dubb, a principal with the developer, Jericho-based Beechwood Organization.

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Angela Landi walks her dog, Angel, outside her apartment at the Devonshire Hills complex in Hauppauge on Tuesday. Photo Credit: Barry Sloan

The building opened in March, and it is 75 percent occupied and 90 percent leased, Dubb said. With demand so strong, rents have risen from their original range of about $3,000 to $7,000, he said. The $120 million project was Beechwood’s most expensive development outside the Hamptons, on a per-square-foot basis, Dubb said.

“We took a pretty big gamble and we said, ‘We believe there’s a market that’s not being served, and we’re going to spare no expense,’ ” Dubb said. “Luckily it seems to have worked out.”

Indeed, Beechwood has plans for a similar, 237-unit complex at a shuttered Syms department store on Merrick Avenue in Westbury, he said.

It’s not a coincidence that many new buildings cater to the luxury market.

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The Vanderbilt apartment complex in Westbury, seen here on Monday. Photo Credit: Barry Sloan

On Long Island, “the land costs are enormous,” labor costs keep rising, and new tariffs on lumber imported from Canada have led to a 20 percent increase in the overall price of construction, Pally said. “You need subsidies to build the affordable units.”

It is not only a local phenomenon. Across the country, said Sam Khater, chief economist at mortgage giant Freddie Mac, “for many builders now, it’s just not economical for them to build below a certain level. That’s why you’re only seeing high-end multifamily and single-family homes being built.”

Many renters in high-end buildings are millennials. Across the country, less than 38 percent of those ages 25 to 34 owned a home in 2016, lagging 8 percentage points below the 2004 peak for that age group, Freddie Mac reported last month. The main reasons were increasing home values and costly rents that make it hard to save for a down payment, Freddie Mac found. Other factors included lower marriage and childbearing rates, student debt, difficulty getting a mortgage and some young adults’ preference for renting.

Many buildings that cater to young renters offer generous amenities, with prices to match.

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Angela Landi poses for a portrait with her dog, Angel, inside her apartment at the Devonshire Hills apartment complex in Hauppauge Tuesday, July 10, 2018. Photo Credit: Barry Sloan

The 166-unit Metro 303 building in Hempstead is among those marketed to young adults, with a pool, fitness center, Xbox and PlayStation in the gaming center and a website that boasts of “grilling and chilling areas for entertaining with friends.” Jeffrey Rozanski and Monika Rivera, both 20-year-old students at Hofstra University, said it’s more comfortable and economical than living in a dorm and paying for meal plans.

“I feel like I’m in a hotel; there’s a pool, there’s a little lounge area,” Rivera said.

Rozanski said he has seen 10 to 15 cars in the garage with stickers from local universities. But while it’s a comparatively good deal, he said, the costs – about $2,600 for a two-bedroom, which they share with a roommate – “are definitely pretty high.”

For that price in his native Miami, he said, “you get a place right on the beach and you’re 20 stories up.”

Many young adults “are willing to spend money, and they demand more,” said Wendy Sanders, a Great Neck-based real estate agent with Douglas Elliman who specializes in rentals. Apartment buildings that cater to millennials have “completely revitalized” communities such as Patchogue, Farmingdale, Huntington, Rockville Centre and Mineola, she said.

Even so, Long Island’s relatively stagnant wages have not kept up with the rising cost of housing, and the region has such a shortage of affordable rentals that about four in 10 adults ages 18 to 34 live with family members because they cannot pay for an apartment here, said Gwen O’Shea, chief executive of the Community Development Corp. of Long Island. The group has helped build roughly 1,800 affordable rental apartments on Long Island since 1973 and has plans for 400 more.

Rentals make up about 20 percent of the housing stock on Long Island, compared with 37 percent in northern New Jersey and 34 percent in Westchester, a 2016 report by the Long Island Index showed.

The Island’s high cost of living is not only a challenge for young adults.

Thomas Velez, 65, is an Army veteran who works part-time at the Veterans Affairs Medical Center in Northport. A year ago he moved from a shelter for homeless veterans in Yaphank to Copiague Commons, a rental complex for people with low and moderate incomes. He pays $1,169 for a one-bedroom apartment he shares with his Jack Russell terrier, J.D. Staying on the Island lets him remain close to his 92-year-old mother and his three grown children, ages 28 to 33.

“I love it,” he said of the 89-unit complex, built by Conifer Realty LLC of Rochester in partnership with the Community Development Corp.

Housing costs are “out of control” on the Island, he said. “We can use a lot more affordable housing out here.”

Roughly one-third of Long Island renters are baby boomers in their mid-50s to mid-70s, Vision Long Island’s Alexander said. Renting “is not just about the millennials.”

Some retirees choose to rent in Suffolk County, where prices are lower than in Nassau. Angela Landi, 75, started looking for apartments in Nassau County when she was preparing to move out of the house she had been renting in Long Beach, but they were largely “not in good condition,” she said.

By contrast, she said, the one-bedroom apartment she now shares with her 5-month-old puppy, Angel, at the 656-unit Devonshire Hills in Hauppauge is well-maintained, with two pools, a new barbecue area and a patio where she has planted impatiens and other flowers, she said. The complex advertises units renting for about $2,000 to $2,800.

Living there allows her to remain close to her friends and a daughter who lives in Wantagh, Landi said.

Prices are lower in Virginia, where her other daughter lives, but Long Island “is really home to me,” said Landi, who retired from a career in medical billing.

Nassau County’s efforts to increase the supply of affordable rentals includes its Industrial Development Agency’s recent decision to hire a consultant who will work with private developers to construct more affordable housing.

In addition to rentals subsidized by state and federal funds or local industrial development agencies, Long Island also needs the ultrasmall “micro” apartments built in New York City and other urban areas, with space-saving features such as foldaway wall beds, Alexander said.

“We call it ‘affordable by design,’ ” Alexander said. “You don’t need subsidies for these types of units because they’re just smaller spaces.”

Average monthly rent
Nassau: $2,257
Western Suffolk: $1,775
Eastern Suffolk: $1,654

Source: Reis, first quarter 2018 rents for units in multifamily buildings

By Maura This email address is being protected from spambots. You need JavaScript enabled to view it.

Lampher Robert low resIt is with great pleasure that we announce the addition of Robert Lampher to the Conifer Realty Team. Robert joins Conifer this month to lead our property management team as the Senior Vice President of Property  Management. 

“Robert has more than 25 years of experience in multifamily property management,” stated Tom Johnson, Executive Vice President. “He had previously lead property management groups at several large affordable housing companies, including The Shelter Group in Baltimore, MD and Pennrose in Philadelphia, PA. Robert will focus on continuing to grow and innovate our well-established property management team and its   processes to lead us through our next phase of growth.”

Mr. Lampher exemplifies the Company’s core values of commitment, dedication, honesty, innovation, integrity, quality and respect, every day. He has gained invaluable experience from his previous positions focusing on large affordable and conventional housing portfolios of up to 20,000 units including, family, senior living, student, and mixed-use housing and retail communities. Mr. Lampher is relationship-oriented and his experience in this dynamic, ever-changing industry is vital to Conifer as we continue to grow. Conifer is fortunate to have Mr. Lampher as part of our team of dedicated professionals.

Conifer Realty, LLC is proud to announce the recipients of the Annual Property Management Excellence Awards. The award winners are an extension of Conifer’s values, they positively impact the lives of our residents and support our unwavering dedication to providing superior communities that welcome workforce families, elderly and those with special needs. These committed recipients were announced during Conifer’s annual leadership conference with over 250 employees in attendance to celebrate, connect, collaborate and communicate.

2018 Conference Excellence Award Winners

From left to right: Aimee Pike (Rookie of the Year); - Brookside I & II (Community of the Year); Deborah Reil (Outstanding Customer Service); Lucin Meyer and David Crowder – Erie Harbor (Most Improved Community NOI); Kelly Park (Community Manager of the Year); Ismael “MO” Munoz (Maintenance Super of the Year); Monica Pritchard accepting for Dan Coyle (Conifer Value Award).

Congratulations to our 2018 award winners and thank you for helping Conifer do what we do, better.


Mt. Airy Baptist Church, Conifer Realty, LLC and BCM Affordable Housing are pleased to announce the funding award of their joint venture, Golden Age Living Accommodations (GALA), by the Pennsylvania Housing Finance Agency (PHFA). Located on Limekiln Pike and Haines Street in Philadelphia, GALA will feature 46 one, and 4 two-bedroom apartments for seniors 62+ within a newly constructed, four-story, state-of-the-art building. Amenities will include a fitness center, arts and crafts room and an office for Chestnut Hill Hospital, whom will provide health and wellness services to GALA’s residents. Construction is projected to begin later this year with expected completion in early 2020.

GALA Rendering

Congressman Dwight Evans of Pennsylvania's 2nd Congressional District stated that “Stable housing is vital to reducing poverty in the city of Philadelphia and affordable housing plays a key role. Each and every resident in our city deserves a place to call home and a sense of pride in his or her home. I'm so pleased that the Pennsylvania Housing Finance Agency (PHFA) is making critical investments in Northwest Philadelphia and is giving necessary funds to support our seniors who are in need. These crucial investments will not only increase home ownership but will allow residents to age in place as they now have the tools and resources they need to make improvements to their homes that enhance both safety and livability.”

Councilwoman Cherelle Parker, District 9, Philadelphia City Council said of GALA, “The community and I wholeheartedly support this project because there is a clear need for more quality, affordable senior housing in the Ninth Council District. This development will feature several amenities, including high-level energy efficiency and access to quality shopping options and public transportation. I look forward to the improvements to the quality of life, aesthetic presentation and economic conditions this project will yield. Additionally, I thank Pastor Brown and his team for their perseverance and tenacity, and applaud all of the partners for their vision and commitment to making this a model for inclusive, responsible development.”

Pastor Willis A. Brown of Mt. Airy Baptist Church shared, “[GALA] became a vision to meet the needs of our aging loved ones. Through prayer and patience, as well as working with membership (church), community organizations, city and state officials, our vision is to become reality. With the city and state approval of our application for financial support the work can begin.”

It is through the commitment and effort of many to bring a project such as this to the starting line. In appreciation of this Mt. Airy Baptist Church, Conifer Realty and BCM Affordable Housing and would like to thank Congressman Dwight Evans, Mayor Jim Kenney, Councilwoman Cherelle Parker, Councilwoman Marian Tasco, Councilman Derek Green, State Representative Isabella Fitzgerald, and State Senator Art Haywood for their support and investment in GALA.

About BCM Affordable Housing
Since its inception in 2007, BCM Affordable Housing, Inc. has pursued inner-city rental and for sale residential development opportunities as well as affordable and market rate. They also provide consult for community development corporations in the Mid-Atlantic Region.

About Conifer Realty
Conifer is a nationally ranked, full-service real estate company specializing in the development, construction, management and ownership of high-quality, affordable housing communities. Since its inception in 1975, Conifer has grown considerably – currently owning and managing over 15,100 multifamily units representing 230+ apartment communities in New York, New Jersey, Pennsylvania, Maryland and Ohio. In addition, the Company consistently maintains a pipeline of over 30 unique projects in various stages of the development process. For more information, please visit, like us on Facebook at and follow us on Twitter @ConiferRealty.


Riverhead, N.Y. (April 30, 2018) – Community Development Corporation of Long Island (CDCLI) and Conifer Realty, LLC, will be hosting a lottery to select residents and establish a waiting list for its 45 mixed-income apartments that are being constructed in downtown Riverhead on Main Street. The lottery will be held on Friday, June 1, 2018, at the Riverhead Town Hall, located at 200 Howell Avenue, Riverhead, NY, beginning at 10 AM. To be included in the lottery, download an application at and send the completed application to P.O. Box 179, Riverhead, NY 11901, or email them to This email address is being protected from spambots. You need JavaScript enabled to view it.. The application deadline is May 25, 2018.

Preference will be given to artists and those displaced survivors of a Covered Storm including but not limited to Superstorm Sandy, Hurricane Irene and Tropical Storm Lee.

Located in the heart of Downtown Riverhead, home to East End Arts, Suffolk County, residents will enjoy walking or biking to work, restaurants, shops and more. Peconic Crossing will also offer gallery space available for residents to Create—Collaborate—Live.


peconic crossing main street Copy


These brand-new, one and two-bedroom apartments, enjoy a waterfront location a well as many amenities such as spacious floor plans, elevator, a laundry center, energy efficient appliances, a fully equipped fitness room, an art gallery/studio workspace, and more. Pricing for these units vary: one-bedroom $976–$1,159, two-bedroom $1,169–$1,562. *Maximum Income Limits Apply (50%, 60%, & 90% AMI).

For more information about Peconic Crossing, or to obtain an application, please visit, call (631) 830-6402 or email This email address is being protected from spambots. You need JavaScript enabled to view it..




Community Development Corporation of Long Island (CDCLI) invests its resources, talents, and knowledge in the people of Long Island, helping them to achieve their dreams of an affordable home in a vibrant community. Since its inception 48 years ago, CDCLI has assisted more than 200,000 Long Islanders and invested $1.3 billion into the communities in which they live. CDCLI is a chartered member of the NeighborWorks network, a group of more than 245 nonprofit organizations across the United States that work to provide affordable housing opportunities for low- and moderate-income people.  For more information, please visit Like CDCLI on Facebook at and follow us on Twitter @cdclongisland.

About Conifer Realty

Conifer is a nationally ranked, full-service real estate company specializing in the development, construction, management and ownership of high-quality, affordable housing communities. Since its inception in 1975, Conifer has grown considerably – currently owning and managing over 15,100 multifamily units representing 230+ apartment communities in New York, New Jersey, Pennsylvania, Maryland and Ohio. In addition, the Company consistently maintains a pipeline of over 30 unique projects in various stages of the development process. For more information, please visit, like us on Facebook at and follow us on Twitter @ConiferRealty.


  Joanna Cuevas  

As our portfolio continues to grow at Conifer Realty, LLC, we are excited to announce the addition of Joanna Cuevas and Rima Edmonds to the team. Joanna will be taking on the role of Senior Project Director and Rima will be Conifer’s new Director of Compliance and Administration, the two will play an essential part in helping Conifer do what we do, better.

Joanna Cuevas website

Joanna Cuevas joins Conifer Realty with over 14 years’ experience in Affordable Housing Development, with projects in California, New Jersey, New York, Connecticut, and Pennsylvania. Ms. Cuevas will be responsible for leading the development team in Long Island, NY. She brings her knowledge of local, state, and federal funding, procurement, and entitlement processes as it relates to the design and construction of residential, commercial and mixed-use buildings for both corporate and non-profit organizations.

Cheryl Stulpin, Senior Vice President of Development, said, “Joanna has a Master’s Degree in Architecture and is an experienced developer. Joanna’s experience will further expand the depth and breadth of our development team.” 

Rima Edmonds website

An industry professional of over 20 years, Rima Edmonds comes to Conifer from Security Properties of Seattle, Washington. Ms. Edmonds served as Security Properties’ National Compliance Director where she oversaw compliance for more than 10,000 units in 25 states. She started her career in property management at the site level and worked her way up in both regional site leadership, asset management and compliance roles. She has Certified Property Manager (CPM) and Certified Apartment Manager (CAM) designations, as well as several other certifications that exemplify her expansive knowledge in the field.          

Executive Vice President, Thomas R. Johnson, said “[Rima Edmonds’s] strong passion for affordable housing brings her to Conifer and we are excited to have her here!”

Please join Conifer in welcoming Ms. Cuevas and Ms. Edmonds to our growing team!

Clayton, NJ (February 28, 2018) – Starting today, People for People Foundation, in partnership with Conifer Realty, will be accepting applications for Camp Salute. Camp Salute is a brand new affordable housing apartment community that features a Veteran preference and is the first and only of its kind in South Jersey. The public is invited to apply in person at The Clayton Senior Center, 1 Garwood Road, Clayton, NJ. Representatives will be available today to accept applications.

Camp Salute, an ENERGY STAR certified apartment community, features 14 one-bedroom units; 40 two-bedroom units; and 22 three-bedroom units; all of which will be constructed using the best practices in energy saving technology.

Applications will be accepted between the hours of 10 am – 4 pm. Those applying for residency, must bring a DD214 and completed applications. Please contact People for People Foundation for applications or complete the Camp Salute Interest List at

Charles Lewis, Senior Vice President of Development for Conifer Realty, stated, “The response from the veteran’s community has been incredible – over 200 have expressed interest in Camp Salute. The overwhelming demand shows the unfulfilled need for affordable housing and services for our veterans.”

People for People Foundation, also known as a “Veteran Support Organization,” will be moving their headquarters to the Camp Salute Apartment Community once completed and will provide on-site veteran and social services to Camp Salute’s residents. The 76-unit apartment complex will also offer 5 units dedicated to homeless veterans, 19 units dedicated to disabled veterans and 51 units will be veteran preference.

Bernadette Blackstock, President and CEO for People for People Foundation said, “It is the first time we are giving the veterans of South Jersey, who served this country an opportunity to have affordable permanent housing. Their excitement at the information session was overwhelming.”

For more information about the Camp Salute visit the People for People website at: or call: (856) 579-7561.





BUFFALO, N.Y., Feb. 6, 2018 /PRNewswire/ -- M&T Bank and the Federal Home Loan Bank of New York announced today the awarding of $11.5 million in grants to community-based organizations in nine different cities through the FHLB-NY's Affordable Housing Program.

The grants will help fund projects in: Buffalo, N.Y.; Albany, N.Y.; Trenton, N.J.; Asbury Park, N.J.; Cherry Hill, N.J.; Newark, N.J.; Altoona, Pa.; Claymont, Del.; and Frederica, Del.


Organizations seeking funding through the FHLB's Affordable Housing Program must submit an application sponsored by one of the FHLB-NY member banks.

"The success of our bank is directly related to the success of the communities we serve and every community needs safe and affordable housing for its citizens. We appreciate the support of our colleagues at the Federal Home Loan Bank of New York in approving these grant applications that M&T Bank sponsored for these organizations in our communities," said Brad Dossinger Group Vice President of Community Reinvestment at M&T Bank.

Grants approved included:

  • Buffalo City Mission in Buffalo will receive $3.26 million to be used toward an expansion of its building on 100 East Tupper Street. The project will create 134 housing units for homeless and low-income residents of Buffalo. This is the largest FHLB-NY Affordable Housing Program grant ever secured through M&T Bank.
  • Buffalo Neighborhood Stabilization Company Inc. in Buffalo was approved for a $214,154 grant to help with the rehabilitation of 11 affordable housing units as part of its GDZ Homes project.
  • My Place Home for the Homeless in Buffalo will receive $100,000 to be used on 10 units of its Polly Jean Suites project.
  • A $1.1 million grant for the Albany Housing Authority in Albany will be used on 76 affordable housing units being redeveloped as part of the second phase of the Ida Yarbrough Homes Redevelopment.
  • The Trenton Housing Authority in Trenton, N.J. will receive a $1.4 million grant to be used toward its Page Homesproject, which involves the redevelopment of a former public housing project to create 77 new units of one-bedroom, two-bedroom and three-bedroom apartments.
  • The Jewish Federation of Southern New Jersey has been awarded a $1.6 million grant toward a project at 1721 Springdale Road in Cherry Hill, N.J., creating 79 units of affordable housing.
  • Michaels Community Services Corporation of Asbury Park, N.J., was approved for a $1 million grant for its 64-unit projects called The Renaissance.
  • The Housing Authority of the City of Newark in Newark, N.J., was approved for an $841,500 grant to help rehabilitate 153 units of affordable housing at Montgomery Heights II.
  • Riverside Charitable Corporation will be making upgrades to 76 units in the Cherry Grove Apartments in Altoona, Pa., including upgrading HVAC systems, replacing windows, doors and roofing. Funds will also be used to provide residents with access to case management services in partnership with Blair County Community Committee, financial literacy courses in partnership with M&T Bank, and free high speed internet. The project will receive a $1.6 million grant.
  • Gaudenzia Foundation Inc. in Claymont, Del., was approved for a $375,000 grant to be used toward the rehabilitation of 26 units of affordable housing.
  • Central Delaware Habitat for Humanity will use the $60,000 grant to aid construction of four housing units in Frederica, Del., two are currently under construction. The grant will be evenly divided, with $15,000 to be spent per house. These additions will bring the total to 16 homes built in Frederica.

The Federal Home Loan Bank System's Affordable Housing Program, created by Congress in 1989, provides member community lenders with direct subsidies, which are passed on to qualified households through a sponsoring local non-profit organization. AHP financing is combined with other funding sources to create housing for moderate-, low- and very-low-income families. Program awardees receive this funding through semi-annual competitive rounds. Each competing project must be sponsored by a financial organization that is a member of the Federal Home Loan Bank in partnership with a community-based sponsoring organization.

These grants announced today were part of the annual competitive round completed in the fourth quarter of 2017.

About M&T Bank: 
M&T Bank Corporation (NYSE: MTB)("M&T") is a financial holding company headquartered in Buffalo, New York.  M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia.  Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.