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Career Leader in Affordable Housing in Both Public and Private Sectors Will Succeed
Michael Lappin
Rafael E. Cestero, former Commissioner of the New
York City Department of Housing Preservation and Development, has been named by the
Community Preservation Corporation (CPC) Board of Directors to serve as President and
CEO of the non-profit organization and its for-profit development subsidiary, CPC
Resources, Inc., it was announced today by Michael Hegarty, Board Chairman.
Mr. Cestero, 43, succeeds Michael Lappin, who announced his retirement last November
after leading the company for 31 years. CPC, created in 1974 to stem a tide of
abandonment in New York City, has financed the preservation and development of nearly
144,000 affordable housing units involving public and private investments of
approximately $8 billion. Mr. Cestero’s appointment is effective January 17th.
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