Community Asset Preservation Corporation

Community Asset Preservation Corporation (CAPC) is the first nonprofit of its kind: an entity equipped with the financial strength, regional reach, and real estate expertise to arrange creative large-scale acquisitions of pools of hard-to-reach foreclosed properties.

CAPC utilizes its strong partnerships with local community developers to ensure these properties are redeveloped into quality affordable housing.  CAPC became a wholly-owned real estate development subsidiary of New Jersey Community Capital in 2009, and has since acquired over 600 housing units for redevelopment.

CAPC continues to expand, incorporating multi-unit property acquisition, direct property rehabilitation, and scattered-site property management into its toolbox to ensure it can meet a wide variety of homeownership and rental housing needs in low-income communities across New Jersey.  With continued growth and versatility, CAPC has a transformative effect in the stabilization of distressed New Jersey neighborhoods and serves as a model for community revitalization across the country.

Stabilizing Communities

CAPC has utilized REO bulk-purchases, multi-unit property acquisitions, and properties attained via spot blight eminent domain to return over 475 housing units to active use. CAPC understands that using a wide variety of tools is critical to having real impact on neighborhoods.

Building Partnerships

CAPC has a proven track record of not only quickly rehabilitating properties into affordable, quality housing, but also of reinforcing the value and power of strategic partnerships. Since 2014, CAPC has partnered with a variety of city and state agencies to provide project-based rental vouchers to low-income individuals and families. These vouchers are for targeted use by families and individuals living at or below 50% of the area median income.

Impact

With each project, CAPC impacts both the neighborhood and municipality by:

Increasing the affordable housing stock in target neighborhoods. Each year CAPC returns between 50-75 affordable units to productive use. Over 80 percent of these units are affordable to low and moderate income households.

Adding significant value to both rehabilitated homes and neighboring properties. Each property rehabilitated by CAPC receives between $100,000-$125,000 in investment. CAPC’s approach continues to stabilize neighborhoods by restoring the value lost to surrounding homes, helping to reverse the negative impacts that vacant and foreclosed properties have on neighboring homes adding to the economic strength of the neighborhood.

Spurring economic activity through the creation of jobs and timely collection of property taxes. CAPC’s approach to housing rehabilitation places a strong emphasis on the creation of local jobs. Additionally, each city stands to benefit greatly from tax revenue collected in a timely manner as homes are rehabilitated and returned to active use.

Learn more by calling CAPC at 973.841.2673.

CAPC Highlights

  • CAPC has completed nearly 650 housing units to date for low- and moderate-income families
  • CAPC returns 50-75 affordable units to active use annually; over 80% are affordable to low- and moderate-income families
  • CAPC invests on average, $100,000, to rehabilitate each property
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Additional Resources

For more information about CAPC, including information about homes for sale and rental,

visit www.capcnj.org

To reach CAPC’s office, call 973.841.2674 or write to

CAPCinfo<at>njclf.com