The Building and Constructions Trades Council (BCTC) and Cirrus Real Estate Partners are joining forces with New York City in a public-private partnership to launch a $500M fund to build new affordable workforce housing in NYC.

BCTC, an umbrella organization representing more than 100,000 buildings trades workers, has made an initial pledge of $100M from a pool of union pension funds. Cirrus, an NYC-based investment firm with a portfolio encompassing an estimated $150B of commercial real estate loans, has pledged to raise more than $400M for the initiative.


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Jack Rogers

GlobeSt

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