Sponsor: New York Local Initiatives Support Corporation
For nearly four decades, Local Initiatives Support Corporation (LISC) NYC has supported local champions to advance equitable development of historically underinvested neighborhoods. To date, LISC NYC has invested over $2.87 billion, leveraging an additional $6 billion in low-income communities, resulting in over 38,000 affordable homes built and preserved as well as 1.8 million square feet of retail and community space created. The primary challenge facing low and moderate-income NYC neighborhoods today has shifted from disinvestment and a lack of access to capital to hyper-investment and the rising cost of housing. This trend is threatening to displace low-income residents of the neighborhoods that LISC NYC community-based partners have traditionally served. In September 2016, LISC NYC organized and hosted, along with the Federal Reserve Bank of New York and the NYU Furman Center, a convening of community development practitioners, policymakers, government officials, researchers, and funders to explore what the latest research tells us about neighborhood change and displacement, identify gaps in data, learn about anti-displacement and equitable development strategies from other cities, and discuss with key stakeholders the challenges and opportunities to implement effective anti-displacement initiatives in New York City. LISC NYC’s sponsorship of the CUSP Capstone project is a follow up to that convening. Its primary role has been to advise the project and connect the CUSP team with community-based partners on the front lines of gentrification and displacement in NYC in order to inform the work.
Contributing Institution: New York University’s Center for Urban Science and Progress
The Center for Urban Science And Progress (NYU CUSP) is a unique public-private research center that uses New York City as its laboratory and classroom to help cities around the world become more productive and livable.