CPC: Demystifying the small building financing process

Creating a guide to support small building development

Community Preservation Corporation (CPC) is a leading nonprofit affordable housing and community revitalization finance company. Part of their mission is to support people of all experience levels to navigate the process of financing and managing small building projects. CPC believes that small buildings, and the people behind them, are key to creating affordable and healthy housing landscapes. Small buildings are often the backbone of communities and are integral for providing affordable housing to individuals at a diverse range of incomes. In addition, small building projects are an important first step for people new to real estate. Unfortunately, there is a lack of reliable resources to guide people through the often challenging process. TYTHEdesign was brought in to create the step-by-step guide about the small building development process, informed by the experiences of the many stakeholders.

OUR STRATEGY

TYTHE worked with CPC to lead a series of interactive workshops across New York State that brought together seasoned small building developers, people new to the borrowing process, affordable housing managers, elected officials, and CPC loan managers. During the sessions, people brainstormed best practices, identified where the thorniest challenges lie, and shared advice they hoped to pass on to others.

THE OUTCOME

User-Friendly Tool

TYTHE and CPC used the findings from the workshops to develop a straightforward, engaging, and actionable guide, called Start Small. The guide is a free resource that walks the reader through acquisition, new construction, and building rehabilitation using diagrams, bolstered by additional case studies and worksheets. Start Small helps to demystify the small building financing process and support people with the information they need to shape healthy, sustainable, and affordable communities. To date, CPC has shared the guide at conferences, on webinars, and at a workshop in Rochester, New York attended by over 50 participants.

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Client: Community Preservation Corporation

Collaborators: Kristina Drury, Michaela Kramer

Year: 2018

Publication: Start Small: A Guide to Financing Small Multifamily Building Projects 

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