NEW YORK - In a move to help revitalize New York City's low-to- moderate-income neighborhoods, Carver Federal Savings Bank and J.P. Morgan Community Development Corp. last week closed a $4 million loan to Blakel Construction Corp. for the Bridge Street Manor Partnership Homes in the Bedford Stuyvesant section of Brooklyn.

Carver Federal, with $366 million of assets, has participated in loan pools with other banks, but this marks the first time with the J.P. Morgan Co. subsidiary.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.