NYC pension funds enter second JV with housing developer

The New York City Employees’ Retirement System and the Teachers’ Retirement System of the City of New York have launched a partnership with the Hudson Cos. to create new, mixed-income housing in the five boroughs of New York City as well as Nassau, Suffolk, Westchester, Putnam, Orange and Rockland counties.

“Fighting climate change and increasing access to affordable green housing are crucial to making New York City an equitable place to live for generations to come,” said Mayor Bill de Blasio. “Our pension trustees are meeting the moment by divesting from fossil fuels and investing in climate solutions like this partnership: a winning combination for our planet, our city and our pensioners.”

“This public-private partnership creates an innovative new fund to generate sound financial returns for our pension systems while developing critical new housing throughout the region and preserve affordability in New York City,” said  Yvonne Nelson, head of rea