In December 2017, we obtained approval from the State of New York Office of the Attorney General Division of Economic Justice Real Estate Finance Bureau to collect money from members and use it for real estate investment for any property that is consistent with this mission:
“combating community deterioration and advancing long-term stability, diversity, vibrancy and cohesion in New York City neighborhoods most affected by disinvestment and displacement.”
You can read our application and the approval. Thank you so much to Nixon Peabody for representation through the process.
In 2016, the Project Scoping Workgroup led our members in a collective process to create a set of criteria to guide investment. It resulted in the Criteria for Investment which you can read here:
NYC REIC – Official Project Selection Criteria
Members bring potential projects for investment before the membership at our regularly-held member meetings. Join the mailing list below so that you know when these meetings and votes will be held. Subscribe below.