Phipps Houses Annual Community Builder Awards Gala

Tuesday, September 19, 2006 at Cipriani 42nd Street, New York City--Phipps Houses Annual Community Builder Awards Gala. Phipps Houses, the largest non-profit provider of affordable housing in New York City, tonight honored two individuals whose work contributes significantly to building strong communities. Adam Weinstein, president and CEO of Phipps Houses, presented awards to Bryce Blair, chairman and CEO of AvalonBay Communities, Inc. and Richard Paul Richman, chairman and founder of The Richman Group, Inc. at the annual Phipps Houses Community Builder Awards Gala. Emmy award-winning anchor and WNBC correspondent Jane Hanson emceed the gala at Cipriani 42nd Street. Mayor Michael Bloomberg was in attendance. The event raised an estimated $850,000 that will benefit Phipps Community Development Corporation (Phipps CDC), the not-for-profit educational, social and human services arm of Phipps Houses. AvalonBay Communities, Inc. is among the nation�s largest and leading apartment Real Estate Investment Trusts and was Phipps Houses� lead partner in the redevelopment of the Cooper Square Urban Renewal Area. The Richman Group, Inc. a long-time developer, owner and financier of mixed-use and mixed-income housing, has been an active participant in housing financed with the low-income housing tax credit, and has been an equity partner with Phipps Houses on nearly 400 units of affordable housing. �At Phipps Houses we have always believed in advancing both housing and community building. AvalonBay Communities and The Richman Group, under the extraordinary leadership of Bryce Blair and Richard Paul Richman, have been strong partners in providing much-needed affordable housing to New York City. Proceeds from tonight�s dinner will allow Phipps CDC to continue providing educational, career development, technology and other vital programs to our residents,� said Mr. Weinstein. �I�d also like to salute Mayor Bloomberg for his visionary leadership in expanding the City's investment in the affordable housing. And on behalf of Phipps Houses, we thank the many federal, state and local officials who are so critical to both our human services programs and bricks and mortar development.� Dinner co-chairs included Robert C. Dinerstein, Greenberg Traurig, LLC; Joel I. Picket, Gotham Construction Company, LLC; and Frederick S. Harris of AvalonBay Communities, Inc. Bronx Music Works provided musical entertainment. Funds raised by the dinner will support Phipps CDC�s youth and family development programs in the Bronx and Manhattan. These programs � including a new �West Farmers� Market� and community garden, excellent Head Start centers and after-school / summer programs, GED, ESL and college preparation classes, community greening internships, job readiness assistance and senior programming � serve an estimated 5,500 children and adults each year, and meet pressing community needs. Phipps Houses was created in 1905 with a gift of $1 million dollar by Henry Phipps to build housing affordable to low-income families. Henry Phipps believed providing safe and sanitary housing to low-income wage earners would enhance their ability to take advantage of the City's economic opportunities. Over the past 101 years, Phipps Houses has evolved into a major affordable housing provider, property manager, and leader in community-based educational, vocational and social services. Phipps� affordable housing assets exceed $1 billion, serving the housing and service needs of 45,000 New Yorkers. Today, Phipps Houses provides housing for 4,300 families in its own properties, and another 9,000 under management for other housing owners. With a development pipeline of 500 new apartments a year, Phipps continues to build and preserve affordable housing to give more families the needed framework of a safe and well maintained home. MEDIA CONTACTS: Bettina Lee | Phipps CDC | tel: (212) 243-9090 x234 and Christina Carper, Vice President | Linden Alschuler & Kaplan, Public Relations | (212) 575-4545 |e-mail: ccarper@lakpr.com PHOTO CREDIT: ©Manhattan Society.com 2006 by Gregory Partanio |tel:718.614.7740 |e-mail: PrinceGregory@manhattansociety.com Photos ManhattanSociety.com by Gregory Partanio 2006