CDC Properties, Inc. is a 501(c)(3) not-for-profit organization, incorporated in the State of New Jersey, which was founded in 1995 and commenced operations in July 0f 1997. The principal purpose of the corporation is to provide decent housing that is affordable, in Middlesex and Somerset Counties, to low- and moderate-income residents; and, to provide housing services throughout the State of New Jersey. The State of New Jersey Department of Community Affairs (NJDCA), the County of Somerset and the City of New Brunswick certify the corporation as a Community Housing Development Organization (CHDO).

The organization has received HOME Investment Partnership grants through the Somerset County Office of Community Development. The grants have allowed the corporation to establish its Renaissance 2000 Affordable Housing Program, a program designed to create permanent home ownership opportunities. The Renaissance 2000 Affordable Housing Program Involves CDC Properties acquiring single-family homes; renovating the properties to code; and selling the properties to income qualified purchasers. The properties targeted are existing, scattered-site homes located in the Renaissance 20000 neighborhood (an area targeted for redevelopment straddling Route 27 in Franklin Township and New Brunswick). CDC Properties has completed the acquisition, renovation and resale of three homes; has purchased and is in the process of renovating two additional houses; and, has executed contracts to acquire two more houses.

First Baptist Development and Urban Renewal Corporation (FBDURC), an affiliated 501(c)(2) real estate holding company of CDC Properties, Inc., with financing from the New Jersey Housing Mortgage Finance Agency (NJHMFA) and the NJDCA, has acquired 124 incomplete condominium units and 14 acres of vacant land at a 312-unit condominium complex in New Brunswick. FBDURC has been designated project redeveloper by the City of New Brunswick's Redevelopment Authority. By virtue of its ownership position, FBDURC holds three of the five seats on the Condominium Association's Board of Directors. FBDURC and the Condominium Association have worked cooperatively to the Master Deed and finalize FBDURC's Public Offering Statement for the project.

In keeping with our commitment to enhance the lives of area residents with varying economic profiles, the corporation has acquired two multi-family rental properties. CDC Properties, Inc. operates these buildings as market-rate rental housing.