New York State Common Retirement Fund, Albany, committed an additional $100 million to an affordable housing program run by the Community Preservation Corp., bringing its total investment to $300 million. State Comptroller H. Carl McCall, sole trustee of the $112 billion fund, said the CPC already created 4,400 affordable housing units with help from previous fund commitments. The additional money should help the CPC build a total of 9,300 units of affordable housing, Mr. McCall said.
The CPC loans money to developers for affordable housing construction in New York. The fund’s commitments help finance those loans.
