Council Subcommittee Hears Application for Affordable Homeownership Project in Bedford-Stuyvesant

HPD’s Open Door Program a key facet of Rochester Suydam application. On February 26, 2020, the City Council Subcommittee on Landmarks, Public Sitings and Dispositions heard the Department of Housing Preservation and Development and BJF Development’s application for the disposition of City owned property, the designation of an Urban Development Action Area and the approval of a property tax exemption under Article XI of the Private Housing Finance Law. The approval would facilitate the development … <Read More>

HPD Proposes Affordable Homeownership Project in Bedford-Stuyvesant

Affordable homeownership project receives generally positive feedback. On January 22, 2020, the City Planning Commission heard an application by the Department of Housing Preservation and Development for the disposition of city-owned property and to designate three areas in the southern portion of Bedford-Stuyvesant, Brooklyn as Urban Development Action Areas. The UDAAP designation would help facilitate the construction of seven new buildings and 78 affordable homeownership units. Felipe Cortez, a borough planner at HPD and Jack … <Read More>

Public Advocate Investigation Reveals HPD’s Grossly Inadequate Oversight of Homeownership Programs

Investigation uncovers HPD’s 13 years of failing to enforce housing program requirements against developers and depriving the City of affordable housing and resources. On February 29, 2016, New York City Public Advocate Letitia James released a report on an investigation conducted by her office into 26 residential properties in Brooklyn. The 26 properties had been given to a nonprofit developer to be rehabilitated and resold, subject to affordable housing income restrictions, as part of the … <Read More>

Center for NYC Neighborhoods Hosts Panel on Affordable Homeownership

The keynote panel focused on the issues and challenges raised by affordable housing creation and preservation in New York City.  On September 30, 2015, the Center for NYC Neighborhoods held its conference on the Future of Affordable Homeownership in NYC.  The event was hosted at New York Law School and sponsored by NYLS, JPMorgan Chase, Goldman Sachs, the Center for Real Estate Studies, the Center for New York City Law, and several other … <Read More>

City Launches $50 Million Initiative for Minority-Business Enterprise Developers to Work on Affordable Housing

On March 4, 2024, New York City Mayor Eric Adams, the New York City Housing Preservation Development (HPD) Commissioner Adolfo Carrión Jr., and New York City Housing Development Corporation (HDC) President Eric Enderlin announced an initiative to provide up to $50 million to help Minority Business Enterprises (MBE) overcome financial barriers and participate in developing much needed affordable housing for New Yorkers. The “New York City Minority Business Enterprise Guaranty Facility” is established in partnership … <Read More>