PROMINENT AFFORDABLE HOUSING DEVELOPER PRC ANNOUNCES NEW OWNERSHIP, COMPANY NAME AND EXPANSION INTO NATIONAL MARKETS

New York-Based Affordable Housing Developer Rebrands as "People Restoring Communities"

WHITE PLAINS, N.Y., Aug. 13, 2025 /PRNewswire/ -- PRC, the full-service, vertically integrated, national real estate firm based in New York specializing in affordable housing, today announced that Matthew Linde and Benjamin Linde have officially acquired full ownership of the company, which has rebranded from Property Resources Corporation to People Restoring Communities. This transition marks a new chapter for the organization, positioning it for expanded growth and deeper community impact under the continued leadership of Matthew Linde as Principal and CEO and Benjamin Linde as Principal and COO, who will remain in their respective roles to which they were appointed in 2022.

"As we usher PRC into its next chapter, we're proud to be carrying the firm's core values into new markets across the nation," said Matthew Linde, Principal and CEO of PRC. "With a talented leadership team dedicated to making a meaningful impact through our work, we look forward to expanding our reach into national gateway communities where we can continue our firm's legacy in creating much-needed affordable housing opportunities."

With over 50 years of experience and now under its third generation of family leadership, PRC is an established leader in affordable housing, recognized for its expertise in executing projects utilizing complex sources of financing through both private and public funds. Since its founding, the mission-driven firm has been committed to transforming lives and neighborhoods by delivering high-quality, affordable housing and cultivating inclusive, thriving communities.

Building off the firm's esteemed reputation in New York, PRC is rapidly expanding into new markets while staying true to its mission of positively impacting communities by increasing access to high-quality housing. Marking the firm's first acquisition outside of New York, PRC recently closed on the acquisition of Paulsboro Gardens Apartments, a 150-unit affordable housing complex in Paulsboro, New Jersey. Forthcoming projects in the pipeline include developments in Downtown Richmond, Virginia, Trenton, New Jersey and Boston, Massachusetts. Additionally, PRC will continue its robust development in New York, with the projected completion of projects in East New York and Bed-Stuy as well as a new project planned in New Rochelle, which is scheduled to close later this year.

PRC's track record includes the development or preservation of over 20,000 apartment units representing nearly $1.75 billion in developed assets. For more information about People Restoring Communities and its properties, please visit www.peoplerestoringcommunities.com.  

ABOUT PEOPLE RESTORING COMMUNITIES
Founded in 1971, People Restoring Communities (PRC) is a full-service, vertically integrated family-run national real estate firm based in New York. With over 50 years of experience, PRC is known for its leadership across the affordable housing sector. PRC is committed to the core value that housing is a human right and is dedicated to giving everyone, regardless of income, a quality place to call home. Providing its projects with a suite of in-house capabilities, including development, design, construction, property management, operations and in-house architectural services, PRC aims to positively impact communities around the nation. For more information, visit http://www.peoplerestoringcommunities.com/.

SOURCE PRC