The Center for New York City Neighborhoods, Inc. (CNYCN) was created to address the local repercussions of the national subprime lending and foreclosure crisis. Through comprehensive citywide programming that includes legal services, counseling, community outreach and education activities, CNYCN will pursue multiple strategies to help distressed homeowners retain their equity and preserve New York City neighborhoods. The organization is working closely with the City of New York to develop a coordinated response to assist distressed homeowners, along with program partners Neighborhood Housing Services, Legal Services of New York, and the Neighborhood Economic Development Advocacy Project. Besides providing some of the earliest funding to create this organization, Deutsche Bank Americas Foundation was intensively involved in shaping its mission and operations.
As an awardee under Deutsche Bank’s Working Capital program, Women’s Housing and Economic Development Corporation (WHEDCo) received support over three years to retrofit its Urban Horizons housing complex to make it more energy efficient, thereby reducing greenhouse gases and lowering utility bills for residents. Improvements made in the first two years of the program have already lowered residential electricity usage by 13%, and WHEDCo expects to make improvements to the building’s heating, ventilation, and maintenance systems that will reduce energy use even further.
Support from Deutsche Bank’s Supportive Housing Acquisition and Rehabilitation Effort (DB SHARE) program allowed the Jericho Project to move forward its plan to develop two supportive housing developments in the Bronx targeted toward homeless veterans. Veterans comprise a disproportionate number of homeless individuals, and the development’s service model has been designed with input from the Veteran’s Administration and other veterans’ groups. These residences will combine Jericho Project’s effective model of supportive housing and counseling services that stress recovery, employment, and graduation to independent living.