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New York City Pensions to Fund $250 Million Apartment Venture

  • City’s two largest retirement systems team up with Hudson Cos.
  • Partnership will build affordable housing in the metro area

For New York City’s pension funds, there’s no time like now to invest in new apartments.

The two largest retirement systems -- covering public school teachers and municipal employees -- are teaming up with developer Hudson Cos., to allocate $250 million for construction of middle-income housing in the city and surrounding suburbs, the developer said.