COMMUNITY INVESTMENT STRATEGIES, INC. NAMED TO HURRICANE SANDY MULTI-FAMILY COLLABORATIVE TO ESTABLISH DISASTER RESPONSE BEST PRACTICES
12 Select Organizations to Develop Strategies to Enhance Region’s Affordable Housing Infrastructure
LAWRENCEVILLE, N.J., June 4, 2013 – Community Investment Strategies (CIS), Inc., a leading fully integrated commercial real estate company specializing in multi-family housing, has been selected to participate in Enterprise Community Partners’ (ECP) Hurricane Sandy Recovery and Rebuilding Program. ECP is working with 12 select organizations to develop best practices to enhance the long-term capacity of the region’s affordable housing infrastructure in the wake of Superstorm Sandy.
“CIS is pleased to be part of this multi-family collaborative committed to developing efficient, effective disaster-response strategies,” said Barbara K. Schoor, CIS’ vice president. “We will focus on preparedness plans, and create a response network as well as triage retrofits for the region’s physical housing stock.”
As the owner and manager of more than 3,000 multi-family housing units throughout New Jersey, CIS was selected based on their submitted proposal. The company is working with ECP and other consortium members to assess its communities’ vulnerability in the event of future crises; explore effective, maximum-impact options to repair physical damage; and identify potential financing mechanisms to implement retrofits.
ECP was instrumental in rebuilding nearly 10,000 Gulf Coast homes in the wake of Hurricane Katrina. The goal of the organization’s three-year effort to upgrade the New Jersey/New York/Connecticut region’s affordable housing stock is to provide safe shelter during weather-related crises while supporting disaster response in low-to-moderate income neighborhoods. Program participants receive funding during the course of two years through a combination of private and federal sources.
“The devastation of Superstorm Sandy reminded all New Jersey residents, and those throughout the entire New York metropolitan area, of the importance of having a safe place to call home where we can take refuge to weather a storm and its aftermath,” said Schoor.
CIS Will Prepare a Comprehensive Response Plan for Future Disaster Scenarios
Post-Sandy, a number of CIS communities and surrounding neighborhoods within the program’s prioritized counties were impacted by flooding, a loss of power, heat, hot water and phones as well as property damage. CIS was able to successfully mobilize its resourceful property management team to address these situations. For example, CIS responded swiftly by setting up a grill at one senior community in central New Jersey to prepare nutritious meals that are vital to the health and well-being of older adults.
By tapping into its depth of experience and successes, the company is dedicated to creating an organizational map and comprehensive response plan for future disaster scenarios. Not only can these be applied across all geographic locations and property types, CIS can share their formula for success with other affordable housing operators in ECP’s multi-family collaborative.
Established in 1994 as a woman-owned business enterprise, CIS is a leading developer/owner/manager of a broad spectrum of affordable and market-rate multi-family properties, ranging from multiplex apartments and townhomes to garden-style and mid- and high-rise complexes. The company’s portfolio, which extends from Cape May County to Northern New Jersey, is valued in excess of $350 million.
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