The Center for New York City Neighborhoods launched in 2008 in an effort to combat the local repercussions of the national mortgage crisis. The idea for the Center grew out of efforts by local leaders to create a systemic response to rapidly rising mortgage defaults and foreclosure filings, particularly in communities hardest hit by subprime and other unconventional loan products.
The City of New York has a strong track record of successful government and nonprofit interventions to address pressing community needs, and worked in partnership with non-profit organizations, financial institutions, and private foundations to create a vision for the Center could be.
Through comprehensive citywide programming that includes legal services, housing counseling, and consumer education, the Center pursues multiple strategies to assist those at risk of losing their homes to foreclosure. The Center seeks to support distressed homeowners retain their equity, and preserve New York City neighborhoods by limiting the negative impacts of foreclosure, property flipping, and abandonment.
Starting in 2012, the Center's network of partners began providing disaster recovery assistance to victims of Hurricane Sandy needing housing expertise and legal advice on the rebuilding and recovery efforts in affected neighborhoods.
The Center for New York City Neighborhoods is a 501(c)3 charitable organization.