Submitted by: Morgan Stanley
Posted: Mar 28, 2012 – 09:00 AM EST
NEW YORK, Mar. 28 /CSRwire/ - Morgan Stanley (NYSE: MS) announced today that it is launching the Morgan Stanley New York City Community Development Fellowship Program, in partnership with The Association for Neighborhood and Housing Development (ANHD). The Fellowship Program will pair eight high-performing nonprofit community development corporations with eight graduate students from New York City’s finest urban planning, community development and public administration programs.
The Fellowship Program leverages New York City’s strength as a leader in community development education and addresses several critical needs. New York City and the surrounding area are home to some of the best graduate-level programs in urban planning, creating strong demand for their students to develop practical, hands-on experience. At the same time, local community development corporations are facing a critical need to create a pipeline of the next generation of community leaders, while also increasing their capacity in a time of decreasing resources.
The Fellows will spend an entire academic year with the nonprofits, planning and initiating high-impact community projects that these groups would not otherwise have the capacity to commence.
Examples of projects could include a feasibility study for a new housing development, a planning survey of underutilized sites in their neighborhood, an environmental study of a brownfield, starting a small business development program, or other projects that offer a challenging, independent community development project.
Both Fellows and host nonprofits will be chosen based on a competitive application process.
“We are grateful to Morgan Stanley for their leadership as the sole supporter of this innovative new fellowship program,” said Benjamin Dulchin, ANHD Executive Director. “We look forward to working with our Fellows as they support our member organizations and create meaningful impacts on the low- and moderate-income neighborhoods their projects serve.”
Said Audrey Choi, Managing Director and Head of Global Sustainable Finance at Morgan Stanley, “The Fellowship Program will have both an immediate and a long-term impact on our New York City neighborhoods and the capacity of the selected nonprofits. We are excited to partner with ANHD, which has a decades-long track record of assisting housing organizations and preserving housing for New Yorkers.”
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries. Since 2006, Morgan Stanley has executed more than $5 billion in investments to strengthen underserved communities. For further information about Morgan Stanley, please visit www.morganstanley.com.
ANHD is a membership organization of New York City nonprofit neighborhood housing groups engaged in community development and organizing throughout the city. ANHD’s mission is to ensure flourishing neighborhoods and decent, affordable housing for all New Yorkers. ANHD provides training, technical assistance and advocacy for and on behalf of 98 neighborhood-based nonprofit housing organizations in New York City. Its goal is to assist those organizations to expand and preserve affordable housing opportunities for low- and moderate-income New Yorkers. For further information, please visit www.anhd.org.
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