LAWRENCEVILLE, N.J.-- Community Investment Strategies Inc (CIS) is among the country's top developers of affordable housing, according to Affordable Housing Finance magazine. The ranking is based on the number of units currently under development.
The Lawrenceville-based CIS, an integrated real estate company focused on multi-family and senior citizen housing and mixed-use development, currently has a portfolio of more than 2,000 rental units in the Northeast, with much of that portfolio in New Jersey. Among other projects, the company has recently completed construction of Water's Edge Crescent in Elizabeth and the lease-up of Cape Manor, a special needs community in West Cape May.
"This level of activity is promising news for affordable housing development," says Christiana Foglio, the company's founder and CEO. "That activity has been catalyzed by the return of low-income housing tax credit capital and confidence in affordable housing as an effective tool for economic development."
CIS is currently expanding its activities within urban and suburban areas, with a goal of incorporating market-rate and affordable housing components, including special needs housing. The company is also partnering with community groups and public officials to determine residential opportunities in distressed neighborhoods.