Economic Development and Community Facilities

Strategic Properties Initiative (SPI)– Although CDCs have changed the landscapes of their neighborhoods through successful housing development, many commercial corridors and industrial buildings in these same neighborhoods lay vacant and decaying.  As a result, CDCs and community residents increasingly express the need for non-residential community  building--  active shopping centers, office and industrial space, community facilities, and health and human service facilities.

SPI, developed in partnership with HSBC Bank USA, is designed to provide financial and technical assistance to CDCs for the rehabilitiation and development of commercial space in an effort to attract businesses, jobs, and goods and services to the areas that need them most. 

With 8 projects in the SPI pipeline, LISC NYC is currently working with CDCs such as Abyssinian Development Corporation, Alianza Dominicana, Cypress Hills Development Corporation, and Rockaway Development and Revitalization Corporation on various community and economic facilties projects.