Laura Mascuch, Mark Reed, and Steve Coe.
If you didn’t know an ‘alembic’ is a "device used in alchemy to transform common materials into rare and valuable ones” (and we didn’t), you could infer its meaning from seeing the results of Alembic’s work with nonproﬁts here and in the Gulf Coast, simultaneously strengthening communities and the nonproﬁt organizations that serve them: rebuilding Chinatown after September 11th and Biloxi after Hurricane Katrina.
Much of Alembic’s magic stems from its people, notably founders Benjamin Warnke and Mark Reed. Benjamin had started a consulting ﬁrm dedicated to helping nonproﬁts focus on their core mission drawing upon the expertise he’d developed at HPD, Enterprise, and CSH. Mark had founded the Contact Fund, a mission-driven private invest-ment ﬁrm making high impact loans to New York City nonproﬁts working in low income communities, raising capital from socially motivated individuals and foundations.
Since teaming up in 2005, they’ve made a huge impact on New York supportive housing. Team Alembic has worked with a dozen supportive housing providers, both experienced providers like Services for the Un-derServed and Community Access as well as ‘first timers’, helping them develop more than 500 units of supportive housing.
Alembic worked with Barrier Free Living to develop their ﬁrst two supportive housing residences. “Having a values driven developer made for a great work-ing relationship,” notes Paul Feuerstein.
The Network is delighted to join the fan club for Alembic Community Development and honor their com-mitment and passion for developing beautiful and functional supportive housing as our 2016 Private Sector Partner of the Year.