named programs · 3 · from sources
What they call their work
221 McKibbin Street Industrial Center
72,000 sq ft redevelopment project providing space for 19 light industrial and artisanal tenants, utilizing New Markets and Historic Rehabilitation Tax Credits
GMDC Brownsville Industrial Center
$118 million mixed-use project combining 39,000 sq ft of light manufacturing space with affordable and supportive housing in Brooklyn
Industrial Property Redevelopment
Acquires, rehabilitates, and manages neglected industrial buildings to provide affordable, long-term space for small manufacturers and artisans
activities · 4 groups
What they do
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Affordable Housing Development and Management 1 activity
- Develop mixed-use industrial and affordable housing projectsUndertakes new construction projects that combine light manufacturing space with affordable and supportive housing, such as the GMDC Brownsville Industrial Center in Brooklyn, which added 39,000 square feet of industrial space and integrated housing components.
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Renewable Energy and Energy Efficiency Initiatives 1 activity
- Install renewable energy infrastructure in owned facilitiesInstalls photovoltaic solar arrays across its redeveloped industrial properties, including a 106 kW array at the Manhattan Avenue complex and multiple smaller arrays (19 kW to 62 kW) at other facilities, supporting sustainability goals and reducing energy costs.
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Land Bank Property Revitalization 1 activity
- Redevelop industrial properties using public and private financing and tax incentivesUndertakes redevelopment of deteriorating industrial buildings and vacant properties, including historic rehabilitation and new construction projects, leveraging public and private capital. Projects include infrastructure upgrades, unit demising, and use of New Markets Tax Credits and Historic Rehabilitation Tax Credits. Completed projects include an $85,000-square-foot LEED Silver-certified building in Ozone Park and the transformation of a former bowling alley into The Greenpoint Wood Exchange.
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Uncategorized 2 activities
- Conduct research on tenant demographics and economic impactConducted a tenant survey across six GMDC-managed buildings, achieving a 97% response rate in 2023, to generate a statistical portrait of tenants and assess the economic and employment impacts of its properties, including support for over 760 jobs with an average annual salary of $54,587 in 2022.
- Provide affordable industrial and manufacturing space for small businesses and artisansDevelops, acquires, and redevelops industrial properties in urban neighborhoods to provide flexible, affordable manufacturing and workspace units ranging from 1,200 to 6,000 square feet, with rental rates between $14.50 and $17.50 per square foot. Properties are located in Brooklyn and Queens, including within designated Industrial Business Zones, and support small manufacturers, artisans, and creative enterprises.
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financials · form 990 · fy2024
revenue
Total revenue$4.41M
Contributions & grants$00%
Program service revenue$4.41M100%
Investment income$980%
Other revenue$0
expenses
Total expenses$4.20M
Program expenses94%
Admin / overhead6%
Fundraising0%
Salaries & benefits$478K
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$17.79M
Cash$674K
Investments$0
Liabilities$15.86M
Net assets$1.94M
Liquid reserves1.9 mo
5 years on record · 2020–2024 · YoY revenue +11.8%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 5
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| BRIAN T COLEMAN | CEO | 16 | $474K |
| MICHAEL CAVAGNARO | CFO | 16 | $243K |
| CASSANDRA SMITH | SENIOR PROJECT MANAGER | 16 | $217K |
| CURTIS BIEDERBECK | FACILITIES MANAGER | 16 | $165K |
| GUSTAVO MARTINEZ | PROJECT MANAGER | 16 | $158K |
board members · 13
- ADAM TELL METZGER — DIRECTOR
- ALIREZA ESMAEILZADEH — DIRECTOR
- HARRY SCHWARTZ — SECRETARY
- JOHN HOROWITZ — DIRECTOR
- JOSEPH TOOMA — DIRECTOR
- JUDITH KUNOFF — DIRECTOR
- KATE ASCHER — DIRECTOR
- LIBBY RYAN — VICE CHAIR
- LORINDA KAROFF — DIRECTOR
- MICHAEL NIXON — DIRECTOR
- MORT GOLDFEIN — DIRECTOR
- ROSALIND S PAASWELL — TREASURER
- SEBASTIAN HARDY — CHAIR
relationships · 10
Who they work with
- Adobe Partner — Recommends Adobe Acrobat Reader for accessing financial documents.
- Citi Community Capital Partner — Collaborated with GMDC to secure New Markets Tax Credits for the 221 McKibbin Street development.
- City of New York Government — Partnered with GMDC to transfer ownership of the 1155-1205 Manhattan Avenue property for redevelopment.
- Curtis Biederbeck Partner — Point of contact for space leasing inquiries.
- East New York Business Improvement District Partner — Located in close proximity to the East New York Business Improvement District, enhancing local economic development collaboration
- East New York Industrial Business Zone Partner — Located in close proximity to the East New York Industrial Business Zone, supporting industrial and economic development synergy
- HUD Government — Recognized by HUD with the Economic Excellence Award for its work in industrial revitalization and economic development.
- New York State Office of Historic Preservation Government — Awarded the Project Achievement Award for preservation and redevelopment efforts on historic industrial buildings.
- Seedco Partner — Collaborated with GMDC to secure New Markets Tax Credits for the 221 McKibbin Street development.
- United Fund Advisors Partner — Collaborated with GMDC to secure New Markets Tax Credits for the 221 McKibbin Street development.
strategies · 5
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Affordable and Flexible Industrial Space Provisionmethodology: affordable_industrial_spaceBy providing affordable, flexible, and scalable manufacturing spaces with shared infrastructure, we support the growth and sustainability of small, artisanal, and trade-based businesses in urban areas, because access to stable and adaptable workspace is a critical determinant of survival and expansion for small manufacturers.
- Data-Informed Tenant Support and Building Managementmethodology: data_driven_tenant_supportBy collecting and analyzing tenant data on production type, revenue, workforce demographics, and business ownership, we tailor support services and improve building management, because understanding tenant needs enables more responsive, equitable, and effective support for small manufacturers.
- Financing Underserved Industrial Development via Tax Creditsmethodology: tax_credit_financingBy leveraging New Markets and Historic Rehabilitation Tax Credits, we fund industrial real estate development in underserved urban areas, because conventional financing is often unavailable for such projects and these mechanisms enable otherwise-unfeasible investments in community-serving infrastructure.
- Mixed-Use Development Integrating Housing and Industrymethodology: mixed_use_developmentBy combining affordable housing with light manufacturing space in single developments, we promote economic and residential stability, because co-locating homes and workplaces strengthens community resilience and reduces displacement pressures on both workers and businesses.
- Urban Manufacturing Retention through Adaptive Redevelopmentmethodology: urban_manufacturing_retentionBy redeveloping underutilized or historic industrial properties and leasing them to small and mid-sized manufacturers, we preserve urban manufacturing ecosystems, because maintaining physical industrial capacity in cities prevents displacement and sustains local economic diversity and resilience.