State Labor Department Releases Preliminary April 2024 Area Unemployment Rates

 

The New York State Department of Labor released preliminary local area unemployment rates for April 2024. Rates are calculated using methods prescribed by the U.S. Bureau of Labor Statistics. The State’s area unemployment rates rely in part on the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month. To recap last week’s statewide press release, New York State’s seasonally adjusted unemployment rate decreased from 4.3% in March to 4.2% in April 2024.

Local Area Unemployment Rates* (%)
April 2023 and April 2024
(Not seasonally adjusted)

The data in the preceding table are not seasonally adjusted, which means they reflect seasonal influences (e.g., holiday and summer hires). Therefore, the most valid comparisons with this type of data are year-to-year comparisons of the same month, for example, April 2023 versus April 2024. Labor force data for the current month are preliminary and subject to revision as more information becomes available the following month. Revised estimates for prior months are available at: https://dol.ny.gov/local-area-unemployment-statistics Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U.S. Bureau of Labor Statistics. These are the most up-to-date estimates of persons employed and unemployed by place of residence. Estimates are available for New York State, labor market regions, metropolitan areas, counties and municipalities with population of at least 25,000. Unemployment Rates By County, New York State, April 2024 Jobs and Unemployment Fact Sheet This fact sheet conveys important technical information that will contribute to a better understanding of labor force data (“household survey”), including resident employment/unemployment rates, and jobs by industry data (“business survey”), which are presented in the New York State Department of Labor’s monthly press release. State Unemployment Rates Based on Regression Model Beginning with data for January 1996, unemployment rates for New York State and all other states (as well as New York City and the City of Los Angeles) have been estimated using time-series regression statistical models developed by the U.S. Bureau of Labor Statistics (BLS). Advantage of Regression Model Use of a time-series regression model reduces the month-to-month variation in unemployment rates and resident employment by reducing variation caused by sampling errors and other components of statistical noise (irregularities). Benchmarking of Estimates Once each year, labor force estimates, such as civilian labor force and the unemployment rate, are revised to reflect updated input data including new Census Bureau populations controls, newly revised establishment jobs data and new state-level annual average data from the Current Population Survey (CPS). As part of this procedure, all state figures are reviewed, revised as necessary and then re-estimated. This process is commonly referred to as “benchmarking.” Changes in Methodology Labor force estimates are now produced with an improved time-series regression model, which utilizes “real-time” benchmarking. “Real-time” benchmarking reduces end-of-year revisions, which also means that major economic events will be reflected in a more timely manner in state labor force estimates. In addition, the new methodology includes an updated way of estimating for sub-state areas (e.g. counties, metro areas) the number of unemployed who are new entrants or re-entrants into the labor force. This change in methodology will result in lower unemployment rates in some areas and increased rates in others. Unemployed and UI Beneficiaries The estimate of the number of unemployed includes all persons who had no employment during the reference week (the week including the 12th of the month), were available for work, except for temporary illness, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Unemployment insurance (UI) beneficiaries include those who apply for and qualify for UI benefits. Consequently, the estimate of the number of unemployed and the number of UI beneficiaries do not necessarily move in tandem. Jobs Data Jobs data are obtained from a separate joint federal-state survey of business establishments. The survey, called the Current Employment Statistics of Establishments, samples establishments in New York State. It excludes self-employed workers, agricultural workers, unpaid family workers and domestic workers employed by private households. This data represents a count of jobs by place of work. Data for each month is revised the following month as more complete information becomes available. The New York State Department of Labor is an Equal Opportunity Employer/Program.

CONSUMER ALERT: New York Department of State’s Division of Consumer Protection Reminds New Yorkers of Summer Safety Tips Ahead of Memorial Day Weekend

 

Tips Include Heat Safety, Children’s Safety and Outdoor Work and Fun Safety 

 

Follow the New York Department of State on Facebook, Twitter and Instagram for “Tuesday’s Tips” – Practical Tips to Educate and Empower New York Consumers on a Variety of Topics

Acting Secretary Hughes: “From staying informed of potential heatwaves and severe weather, to checking playground equipment before using, these simple safety tips can help ensure you and your family have a fun and safe Memorial Day weekend and entire summer season.”

 

For this week’s “Tuesday’s Tips,” the New York Department of State’s Division of Consumer Protection is reminding New Yorkers of basic safety tips ahead of Memorial Day weekend. Summer safety tips are guides for enjoying, working and living during the summer without compromising one’s safety. Follow the New York Department of State on Facebook, Twitter and Instagram and check in every Tuesday for more practical tips that educate and empower New York consumers on a variety of topics. Sign up to receive consumer alerts directly to your email or phone here.

 

“While New Yorkers gather this Memorial Day to honor those who have made the ultimate sacrifice for our nation, this weekend also marks the unofficial start of the summer season when many begin spending more time outdoors to enjoy the sun and warmer weather,” Acting Secretary of State Brendan C. Hughes said. “From staying informed of potential heatwaves and severe weather, to checking playground equipment before using, these simple safety tips can help ensure you and your family have a fun and safe Memorial Day weekend and entire summer season.”

 

HEAT SAFETY TIPS:

• Keep Children and Pets Safe and Never Leave Them Unsupervised in Hot Cars. According to the National Highway Traffic Administration, heat stroke is the leading cause of non-crash, vehicle-related deaths in children under 15 years of age. Heat stroke can happen when the outside temperature is as low as 57 degrees F. Parents and caregivers, get in the habit of always checking the back seat of your car before locking the doors. Never leave a child or pet in an unattended vehicle in the warm weather, not even with the windows slightly open or down, due to the risk of heatstroke (hyperthermia). To learn how to prevent hot car deaths, review our consumer alert on the topic.
• Stay informed.Check weather forecasts and sign-up for NY-Alert, the State’s Free Emergency Alert System to stay aware of any heatwaves or severe weather. 
• Beat the heatby minimizing, if possible, strenuous activity and exercise, especially during the sun's peak hours from 11 a.m. to 4 p.m.
• Stay safeduring extreme heat by reviewing heat safety tips from the NYS Department of Health and finding a cooling center near you.

 

CHILDREN SAFETY TIPS:

• Ensure playground safety.Check playground equipment for damage. To check if your public playground is safe to play, review the U.S. Consumer Product Safety Commission Public Playground Safety Checklist. 
• Supervise water activities.Always supervise children near water, including pools, beaches and lakes. Teach them to swim and provide flotation devices for young children. Read our water safety consumer alert for more water safety tips.
• Respect the rules at amusement parks and fair rides. Many injuries that occur at amusement park and fair rides are preventable by following simple safety guidelines. Obey listed age, height, weight and health restrictions, and follow all directions posted on signs, given by ride operators or announced through recorded messages. These rules were created for everyone’s safety. Read ourconsumer alertfor more safety tips at amusement parks and fairs.

OUTDOOR FUN SAFETY TIPS:

• Wear a helmet. Always wear a helmet when biking or skateboarding and follow traffic rules. For more biking tips, check out our recentconsumer alert.
• Grill safely.Cookout fun can quickly turn dangerous if you don’t follow safety procedures when grilling. Remember to only use grills outside in a well-ventilated area. Never use a grill indoors, in a garage, breezeway, carport, porch, next to your home or under a surface that will burn. For more safe grilling tips, check out our recent consumer alert.

OUTDOOR WORK SAFETY TIPS:

If you’re working outdoors in the next several months, follow some basic safety tips to avoid injuries when doing a variety of work around the home.

• Pay attention and check for product recalls.A product recall is a request to return a product after a safety issue or defect has been found that could be dangerous. Always check for recalls before buying new or used power tools. You can stay updated on marketplace safety by visiting the USCPSC database and connect with the New York State Division of Consumer Protection on social media for product recall highlights. 
• Prevent lithium-ion battery fires.Keep power tools and equipment stored safely in a cool, dry space. Learn general buying, usage, charging and storage tips by reviewing the Lithium-Ion Battery Consumer Safety Guide.

 

Follow safety precautions when using the following tools and electricity:

 

Power Tools Safety Tips:

• Make sure you read the directions first and follow the instructions in the owner’s manual.
• Protect yourself while you work: wear snug clothing and remove jewelry that could get caught in tools.
• Wear safety goggles to protect your eyes from flying debris.
• When using power tools, never carry them by the cord and keep cords away from heat, oil and sharp edges.
• One power tool that is regularly involved in injuries is a table saw. No matter how expert you are, always use the blade guard for through cuts and use a push stick for small pieces.
• When using battery-powered tools, only use the battery and charger provided by the manufacturer.
• Always keep hands away from moving parts.
• Extreme caution is required when operating a chainsaw. Never cut over your head (kickback can land the chainsaw into your face or shoulder).
• Bear in mind that power tools and alcoholic beverages do not mix well; stay sober to stay safe.

Lawn Mowing Safety Tips:

• Do not allow children to ride on a mower as a passenger. To keep children safe, children should never be in the yard when mowing.
• Before you start mowing, pick up objects like stones, branches and toys, which potentially could become flying objects if you run over them.
• Dress appropriately for the job: sturdy shoes with slip-resistant rubber soles, long pants and long-sleeved shirts, close-fitting clothes, eye protection, heavy gloves and hearing protection, when needed.
• Do not mow in reverse, unless absolutely necessary, and always look down and behind you before and while going in reverse.

Electrical Safety Tips:

• Electrical power used outdoors poses a shock or electrocution hazard. Make sure that extension cords are properly grounded, not damaged with exposed wires, rated for outdoor use and suitable for the intended current of the equipment you’re using.
• Avoid using corded power tools in damp or wet conditions. Ensure that receptacles used to supply outdoor power have properly tested ground fault circuit interrupter (GFCI) protection or use a portable GFCI.
• Make sure you check your deck for loose hardware (nails or screws), rotting boards and eroding foundations.

About the New York State Division of Consumer Protection

The New York State Division of Consumer Protection provides resources and education materials to consumers on product safety, as well as voluntary mediation services between consumers and businesses. The Consumer Assistance Helpline 1-800-697-1220 is available Monday to Friday from 8:30am to 4:30pm, excluding State Holidays, and consumer complaints can be filed at any time at www.dos.ny.gov/consumer-protection.

 

For more consumer protection tips, follow the Division on social media at Twitter: @NYSConsumer and Facebook: www.facebook.com/nysconsumer.

Disbarred Attorney Sentenced To Nine Years In Prison For COVID-19 Relief Loan Fraud Scheme

 

Damian Williams, the United States Attorney for the Southern District of New York, announced today that DOUGLAS RAYMOND ARNTSEN was sentenced to nine years in prison for his scheme to defraud the U.S. Small Business Administration (“SBA”) of more than $1.4 million in government-funded loans designed to provide relief to small businesses during the COVID-19 pandemic.  ARTSEN previously pled guilty before U.S. District Judge P. Kevin Castel, who imposed today’s sentence. 

U.S. Attorney Damian Williams said: “Douglas Raymond Arntsen, a disbarred attorney and recidivist fraudster, took advantage of a national emergency to line his pockets, masterminding a scheme to defraud the government out of more than $1.4 million by submitting fraudulent COVID-19 relief loan applications.  Thanks to the hard work of this Office and our law enforcement partners, Arntsen is being held accountable for his fraud.” 

According to the Indictment, other public filings, and statements made in court:

Between about June 2020 through about August 2020, DOUGLAS RAYMOND ARNTSEN orchestrated a scheme to defraud the SBA by submitting fraudulent loan applications through the Economic Injury Disaster Loan (“EIDL”) Program.  In doing so, ARNTSEN recruited multiple co-conspirators.  ARNTSEN promised potential co-conspirators a way out of their difficult financial circumstances.  Certain of those co-conspirators trusted ARNTSEN because they thought he was an attorney.  In reality, ARNTSEN had been disbarred. 

ARNTSEN asked his co-conspirators to give him their personal information, including social security and driver’s license numbers, and then used this information to submit fraudulent loan applications to the EIDL program.  The applications submitted by ARNTSEN falsely claimed that the co-conspirators owned businesses that had substantial revenue.  Often, the co-conspirators named as owners of the businesses, in fact, had no legitimate connection to the businesses at all.  After the loan applications were submitted, ARNTSEN directed his co-conspirators to lie to the SBA during the loan diligence process.

ARNTSEN also directed his co-conspirators to recruit additional participants to his fraudulent scheme.  After one co-conspirator had obtained a fraudulent loan, ARNTSEN directed him, in sum and substance, to “[g]et me one more warm body.”  The co-conspirator proceeded to give ARNTSEN the personal information of a relative, which was then used to obtain another fraudulent loan.

In total, ARNTSEN and his co-conspirators obtained at least approximately $1.4 million in fraudulent loans and attempted to obtain hundreds of thousands of dollars of additional loans that the SBA declined to fund.  After one fraudulent loan was approved by the SBA, ARNTSEN texted a co-conspirator, in sum and substance, “Need how you want your bank checks.  Your chariot has arrived this morning.” 

Prior to the instant offense, in 2012, ARNTSEN, then a barred attorney working for Crowell & Moring, was convicted and sentenced to four to 12 years in prison for engaging in a multi-year scheme to steal more than $10 million in clients’ money from escrow accounts.

In addition to his prison term, ARNTSEN, 45, of Staten Island, New York, was sentenced to three years of supervised release and ordered to pay restitution in the amount of $1,430,200 and to forfeit the same amount.

Mr. Williams praised the outstanding investigative work of the Federal Bureau of Investigation and additionally thanked the Suffolk County District Attorney’s Office for its assistance.

DEC Urges New York Drivers to 'Give Turtles a Brake'

 

Each May and June, Motorists Advised to be on the Alert for Turtles Crossing Roads 

World Turtle Day is May 23

New York State Department of Environmental Conservation (DEC) Interim Commissioner Sean Mahar today reminded New Yorkers that turtles are nesting in May and June and encouraged motorists to ‘give turtles a brake.’ In New York, thousands of turtles are killed each year by unsuspecting drivers when turtles cross roads to find nesting areas.

“Vehicle strikes are a major cause of mortality among turtles and at this time of year, turtles are particularly vulnerable as they seek sandy areas or loose soil in which to lay their eggs," Interim Commissioner Mahar said. "When travelling on roads near rivers and marshy areas, DEC encourages drivers on New York roads to slow down and keep a lookout for turtles in our communities.”

Drivers who see a turtle on the road are encouraged to slow down to avoid hitting it with their vehicle. If the vehicle can safely stop and drivers are able to safely do so, motorists should consider moving the turtle to the shoulder on the side of the road in the direction it was facing. Motorists are advised not to pick turtles up by their tails, which could injure the turtle. Most turtles, other than snapping turtles, can be picked up safely by the sides of their shells. Snapping turtles have necks that can reach far back and have a strong bite, and should be picked up by the rear of the shell near the tail using both hands, or dragged safely across the road on a mat or blanket. Never drag turtles by the tail as doing so can dislocate the tail bones.

A licensed wildlife rehabilitator may be able to help if an injured turtle is found.

DEC reminds people not to take turtles home. All native turtles are protected by law and cannot be kept without a DEC permit. Most of the 11 species of land turtles that are native to New York are in decline. Turtles are long-lived species and it takes many years for a turtle to reach maturity. Losing even one mature female can have a negative impact on a local population. Learn more about New York's native turtles on DEC's website.

DEC recognizes May 23 as World Turtle Day®. American Tortoise Rescue (ATR), a not-for-profit organization dedicated to the protection of all species of tortoise and turtle, created World Turtle Day® to celebrate and protect turtles and tortoises and their disappearing habitats around the world. These gentle animals have been around for 200 million years, yet are rapidly disappearing due to smuggling, the exotic food industry, climate change, loss of habitat, and the illegal pet trade.

Follow @NYSDEC's social media accounts on May 23 for more information about turtles in the state.

MAYOR ADAMS, COMPTROLLER LANDER, PUBLIC ADVOCATE WILLIAMS, PENSION TRUSTEES, PARTNERS CELEBRATE $60 MILLION INVESTMENT IN LOAN PORTFOLIO THAT WILL PRESERVE 35,000 RENTAL UNITS

 

New York City Employees Retirement System’s $60 Million Investment Advances Affordable Housing Stabilization and Delivers for New York City Retirees

 

Following Collapse of Signature Bank, City Supported Joint Venture Between Related Companies, Community Preservation Corporation, and Neighborhood Restore to Purchase Loan Portfolio Dedicated to Affordable Housing

New York City Mayor Eric Adams, New York City Comptroller Brad Lander, New York City Public Advocate Jumaane Williams, and trustees of the New York City Employees’ Retirement System (NYCERS) today announced an investment of up to $60 million to preserve rent-stabilized housing units impacted by the sudden collapse of Signature Bank last spring. The investment was made in Community Stabilization Partners — a joint venture led by Community Preservation Corporation with Related Fund Management and Neighborhood Restore HDFC — leading affordable housing providers in New York City. The investment represents the largest single investment by NYCERS in preserving New York City’s rent stabilization stock and will both advance the stabilization of much-needed affordable housing and deliver competitive returns for retirees.

 

“Today, we are proud to announce a $60 million investment from our NYCERS pension fund that will go toward preserving 35,000 units of affordable housing,” said Mayor Adams. “This housing is critical to making our city more affordable and livable for working-class New Yorkers, and I want to thank everyone who came together to make sure we got this deal done, including Community Preservation Corporation, Related Fund Management, Neighborhood Housing Restore, our trustees, and our partners in labor. When we came into office two years ago, we had a mission: protect public safety, rebuild the economy, and make this city more livable for hardworking New Yorkers and this investment is a step toward all three of those goals.”

 

“Today’s announcement is a shining example of creative and prudent investments we can make to preserve existing housing that we simply cannot afford to lose,” said Comptroller Lander. “Expanding and protecting our affordable housing supply through sound investment decisions is a major priority of my office, in partnership with NYCERS trustees. I am grateful to my fellow trustees for their work to secure this opportunity and thrilled to collaborate with Community Preservation Corporation, Related Fund Management, and Neighborhood Restore who have decades-long experience ensuring that New Yorkers have an opportunity to afford to live in the city they love. I also want to praise the diligent work of the FDIC, HCR, HPD, and advocates, including ANHD and UNHP, who sounded the alarm on Signature’s lending practices and worked tireless to organize tenants within these buildings. Preserving the nearly 35,000 rental units in the Signature portfolio — which could have faced grave risks as a result of the bank’s collapse — is an enormous team effort, and we are proud to be part of it.” 

 

“We should be using every tool available to address the housing and homelessness crisis, and this investment is a strong safeguard against the unsteady practices of some financial institutions and housing stock that is falling apart,” said Public Advocate Williams. “Any serious affordable housing plan has to heavily invest in preservation, and together with my trustee designee, I’ve been proud to support this investment in both the tenants and retirees of New York City. I thank all of the partners involved in advancing this historic investment, which will help provide both financial security and housing stability for New Yorkers.”

 

“This NYCERS investment in affordable housing shows how we can deploy investments to continue making New York an accessible place to live while protecting the hard-earned pensions of our city workers,” said First Deputy Mayor Sheena Wright. “The continued partnership between the mayor, the trustees of the pensions systems, the comptroller, and the private sector demonstrates how the City of New York can collaborate to implement a working people's agenda.”   

 

“I’m thrilled to see NYCERS’ $60 million investment in Community Stabilization Partners, a joint venture with some of the most experienced affordable housing providers in New York City,” said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. “This Economically Targeted Investment not only infuses a new source of capital into preserving a critical source of housing for thousands of New Yorkers, but it will also deliver for retirees over time. I commend the comptroller and other NYCERS trustees for joining our administration in demonstrating what is possible through sound local investments like this.”

 

“It’s a great day when the future of 35,000 affordable homes in New York City is secured,” said New York City Housing Preservation Development Commissioner Adolfo Carrión Jr. “Today’s $60 million commitment reflects an unwavering dedication to preservation of New York’s housing stock. In the wake of the Signature Bank collapse, the collaborative effort between NYCERS, Related Companies, Community Preservation Corporation, and Neighborhood Restore emerged as a source of housing resilience and dedication to a stable, equitable, affordable future for all New Yorkers.”

 

When Signature Bank collapsed in March 2023, the Federal Deposit Insurance Corporation (FDIC) was appointed receiver for its portfolio of real estate loans, which included a substantial concentration of rent-stabilized housing in New York City. In December 2023, as part of an RFP process managed by the FDIC, Community Preservation Corporation, Related Fund Management, and Neighborhood Restore partnered to create a new venture, Community Stabilization Partners, which purchased a 5 percent equity interest in Signature Bank’s rent-stabilized loan portfolio, with the remaining 95 percent held by the FDIC. The portfolio totals approximately 1,140 buildings and 35,000 units with over 80 percent rent regulated and representing approximately 3 percent of New York City’s entire rent regulated housing stock.

 

Through the $60 million investment — which NYCERS voted on in March 2024 — NYCERS has become a 25 percent partner in Community Stabilization Partners. NYCERS is partnering with Related Fund Management, Community Preservation Corporation, and Neighborhood Restore due to their extensive expertise and deep roots in preserving and expanding affordable housing. Community Preservation Corporation has been a decades-long partner of NYCERS in their efforts to secure strong returns for pension members and beneficiaries, while investing in expanding the city’s affordable housing supply.

 

This investment is part of the Economically Targeted Investment program of the five New York City Retirement Systems, managed by the New York City Comptroller Office’s Bureau of Asset Management, and is aimed at achieving strong returns for members and beneficiaries while helping to preserve some of the city’s stock of rent regulated housing. Including today’s investment, NYCERS has invested nearly $700 million in rental apartments in the city, with 19 real estate fund managers.

 

“For four decades, the NYCERS and CPC relationship has played a critical role in financing the construction and rehabilitation of high quality, affordable multifamily housing for New Yorkers across all five boroughs,” said Rafael E. Cestero, CEO, The Community Preservation Corporation. “We are proud to welcome this important investment by the Comptroller and NYCERS alongside our partner Related Fund Management, which will help preserve the long-term stability of this critical piece of New York City’s affordable housing stock. We understand the unique role that this portfolio of rent regulated housing plays in our neighborhoods, along with the distinct financial challenges it faces, and we are dedicated to working with all of our partners to ensure that it remains a haven of affordability. My thanks to Comptroller Lander for his work to make our neighborhoods more affordable and equitable, to the FDIC and our partners in CSP, and to the city and state for their commitment to securing the future of these properties.”

 

“We cannot allow bad actors or bad business to put New York City’s precise affordable housing stock in jeopardy,” said Barika Williams, executive director, Association for Neighborhood and Housing Development. “ANHD applauds the New York City comptroller’s investment to stabilize over 30,000 rent-regulated housing units formerly held by Signature Bank. We look forward to continuing to partner with the New York City comptroller, the Community Stabilization Partners, and the FDIC to ensure the preservation of New York City’s affordable housing and that our tenants live in safe and healthy conditions.”

 

Trustees of the New York City Employees’ Retirement System are:

• Mayor’s Office of Pension and Investments Director Bryan Berge (Mayor Adams’ appointee);
• Comptroller Lander;
• Public Advocate Williams;
• Borough Presidents: Vanessa L. Gibson (Bronx), Antonio Reynoso (Brooklyn), Mark Levine (Manhattan), Donovan Richards Jr. (Queens), and Vito Fossella (Staten Island);
• Henry Garrido, executive director, District Council 37, AFSCME;
• Richard Davis, president, Transport Workers Union Local 100; and
• Gregory Floyd, president, International Brotherhood of Teamsters, Local 237.

 

About The Community Preservation Corporation

Community Preservation Corporation is a nonprofit, multifamily finance company that was founded in 1974 to provide financial and technical resources to stabilize and revitalize underserved communities. Today, Community Preservation Corporation uses its unique expertise in housing finance and public policy to expand access to affordable and workforce housing, advance diversity and equity in the development industry, and address the effects of climate change through the financing of sustainable housing. Since its founding, Community Preservation Corporation has invested over $14.8 billion to finance the creation and preservation of more than 225,000 units of housing. The company provides a suite of construction and permanent lending products and is an equity investor with approximately 4,200 affordable units under ownership. Community Preservation Corporation is a carbon-neutral company and maintains AA- Standard & Poor’s rating.

 

About Neighborhood Restore HDFC

Neighborhood Restore Housing Development Fund Corporation and its affiliate not-for-profit entities collaborate with city, state, and federal housing agencies on programs that seek to foster neighborhood stabilization by efficiently transitioning properties from physical and financial abandonment to responsible third-party ownership. Since its formation in 1999, Neighborhood Restore has successfully implemented affordable housing development and preservation programs throughout New York City while maintaining strong relationships with government, lenders, and community partners. Over time, it has emerged as an incubator for housing development programs focused on transforming distressed properties into affordable community assets.

 

About Related Fund Management

Founded in 2009, Related Fund Management is a real estate investment manager, with approximately $12 billion of assets under management. Related Fund Management and its affiliates have a long history in affordable housing preservation.