[dropcap]L[/dropcap]AWRENCEVILLE, N.J. (April 18, 2016) – Community Investment Strategies, a recognized builder of award-winning 55-plus and multi-family housing communities throughout New Jersey, was recently recognized as one of Affordable Housing Finance’s Top 50 Affordable Housing Developers in the nation.
The Affordable Housing Finance Top 50 was developed as a way to identify development and costs trends in the affordable housing market nationwide, capturing a snapshot of industry activity. The rankings are determined by the number of affordable housing units a developer started construction on in 2015.
Affordable Housing Finance’s Top 50 also includes an overall total number of units under development among all 50 winners. This year’s list includes 52 companies who have collectively started construction on 226 developments with 17,653 affordable units.
“We are so pleased to make the list again this year,” said Christiana Foglio, Founder and CEO of Community Investment Strategies. “We had an active 2015, completing 171 units, starting construction on 203 units and closing our first HUD Rental Assistance Demonstration (RAD) deal. We are already continuing this momentum into 2016, breaking ground on a brand new 110-unit property this May and completing construction on another 93-unit community in June. We are also in the midst of demolishing two obsolete buildings to make way for an additional 96 units of affordable housing.”
Since 1994, Community Investment Strategies has been a leading developer of multifamily housing, including 55-plus, senior housing and mixed-use redevelopments, as well as market-rate and affordable housing. The company’s diverse portfolio includes more than 3,000 apartment rental units. CIS has been recognized for its award-winning communities, corporate citizenship and advocacy, as well as its people-first philosophy. A woman-owned business enterprise, the firm is committed to promoting gender and ethnic diversity throughout its own organization as well as the communities in which its projects are located. For more information, visit www.communityinvestmentstrategies.com.