IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Hudson Valley Property Group

Affordable Housing
Climate Change
Decarbonization and Carbon DrawdownFirm Overview
Hudson Valley Property Group (HVPG) preserves and elevates the quality of affordable housing in the United States. HVPG acquires existing affordable, multifamily properties and strategically invests capital to improve the physical, financial and social vitality of each home. With improved operations and enhanced service offerings, HVPG properties deliver a better standard of living for its residents and stable investment assets. To date, HVPG has preserved over 17,170 units across more than 97 properties, serving more than 47,850 residents.
Years of Operation: 10 years or more
% of Capital from Top 3 Investors: 25% – 49%
We preserve and improve existing affordable housing in the United States for generations to come by acquiring multi-family properties and adding thoughtful and sustainable enhancements, leveraging innovative strategic partnerships in the areas of healthcare, education and technology to deliver a better standard of living for residents and value for investors.
HVPG acquires existing affordable properties, maintains and extends affordability programs and elevates the quality of the housing for its residents. Through strategic renovations, operational efficiencies, improved security measures, community engagement and sustainability efforts, HVPG properties both perform as better assets, and become places that residents are proud to call home. Beyond addressing the quality of housing, HVPG enhances services and facilitates access to other local resources that elevate quality of life.
Hudson Valley Property Group stands out from its competitors because we put people first in everything we do. After observing blatant housing inefficiencies in their hometown of Rockland County, New York, childhood best friends Jason and Andy wanted to improve conditions for families in need of quality affordable housing and founded HVPG. As sons of educators, they felt a connection to the area’s public servants and understood their invaluable contribution to the community. In the aftermath of the mortgage crisis, the two embarked on a mission to use their entrepreneurial experience, financial and real estate industry background, and passion to preserve affordable housing and better serving residents. Jason and Andy came together to build an organization that follows the motto of 'doing well by doing good,' aiming to place people over profit, make a lasting impact in their community and create a scalable model to create impact across the country.
Investment Example
In 2024, HVPG completed a $71M acquisition, preservation and renovation project at Grandview Terrace, a 283-unit low-income senior property at risk of losing its affordable status and in need of significant repairs. The renovations included new cabinetry, countertops, low-flow water fixtures, Energy Star appliances, energy-efficient LED lighting and a new “smart” intercom system. HVPG also created a “sky lounge” with a stretching room, library and space for social services programming. Under previous ownership, the property's regulatory restrictions expired, putting tenants at-risk of being displaced. As a result of HVPG’s efforts, a new 20-year HUD Agreement was secured and 267 income-qualified tenants received new rental subsidies (limiting their rent to 30% of annual income). Sustainable practices are prioritized at every step of HVPG's process, and we have reduced energy usage across our properties by an average of 9% in kilowatt-hour consumption (electricity) and 12% in therm usage (natural gas).
Leadership and Team
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Jason Bordainick – Managing Partner & Co-Founder More Info
Jason co-founded Hudson Valley Property Group with a vision to create the preeminent housing preservation firm, improving upon the availability, quality, and affordability of housing across the country. HVPG acquires existing multi-family properties and enhances their sustainability, leveraging innovative strategic partnerships in the areas of healthcare, education and technology to deliver added value for residents and investors. |
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Andrew Cavaluzzi – Partner & Co-Founder More Info
Andy Cavaluzzi co-founded Hudson Valley Property Group (HVPG) with a mission to preserve and improve existing affordable housing in the United States for generations to come. HVPG acquires multi-family properties and adds thoughtful and sustainable enhancements, leveraging innovative strategic partnerships in the areas of healthcare, education and technology to deliver a better standard of living for residents and value for investors. Andy is focused on bettering the housing situations for thousands of families across the country and making lasting contributions to the communities where they reside. |
Financial Performance
Impact Performance
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Percentage of Total Assets Under
Management that are Impact Investments: |
100%
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In all steps of the renovation and management process, HVPG aims to find partners that are aligned with our mission statement. We use a public/private partnerships with HUD, local housing authorities, cities, municipalities, local IDAs and state finance agencies to increase affordable units that can be preserved, created and rehabilitated. Additionally, our construction companies use sustainable building processes limit environmental impact and blend form with function, in harmony with the environment. We incorporate practices that reduce waste, conserve energy and water and reduce greenhouse gas emissions. Lastly, our community partners are charitable organizations who are passionate about making a positive impact on their community.
Our partners are members of the local community that are passionate about making a difference in the communities we serve. Since we consider impact in everything we do, we expect the same of our partners and expect transparency when it comes to their intrafirm social and environmental sustainability practices.
Impact Tracking and Monitoring
Learn More
200 Vesey Street 24th Floor, New York, NY 10281 USA
Apply for the IA 50 2022
The application period to become an ImpactAssets 50 2022 Fund Manager will open in September 2021!
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