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Rising Above: Community Economic Development in a Changing Landscape

 

Community development corporations are non-profit, community-based organizations that anchor capital locally through the development of both residential and commercial property, ranging from affordable housing to shopping centers and even businesses. First formed in the 1960s, they have expanded rapidly in size and numbers since. An industry survey published in 2006 found that 4,600 CDCs promote community economic stability by developing over 86,000 units of affordable housing and 8.75 million square feet of commercial and industrial space a year.