On March 21, 2025, the New York City Department of Housing Preservation and Development announced the leads for the Stemma Project, a new affordable housing development to be built on a vacant lot in Crotona Park East in the Bronx at the corner of Stebbins Avenue and East 170th Street. The announced partners include The Doe Fund Inc., Xenolith Partners, LLC, and Ametrine Group.

On February 14, 2025, New York City Mayor Eric Adams, joined by critical stakeholders, launched the requests for proposals for the 388 Hudson Street development project. The City hopes to transform the underutilized site in the Hudson Square neighborhood into a community-focused mixed-use development. This project is part of the City’s “Manhattan Plan”, which was first announced in his fourth State of the City address last month. The Manhattan Plan aims to create 100,000 new … <Read More>

On February 12, 2025, the New York City Department of Housing, Preservation and Development announced that the online application for the J-51 R program, formally J-51, is now open. Since 2009, the J-51 tax relief program has resulted in the rehabilitation of more than 3,200 buildings, consisting of over 143,000 homes. In December 2024, the City Department of Housing, Preservation and Development created the updated version of J-51, “J-51 R”, available to property owners and … <Read More>

On December 11, 2024, New York City Department of Housing Preservation and Development Commissioner Adolfo Carrión Jr. announced a 11,540 square-foot City-owned parking lot, located at 324 East 5th Street in the East Village, will be redeveloped into a housing complex with only affordable housing units.

On October 28, 2024, the New York City Department of Housing Preservation and Development, in collaboration with other critical stakeholders celebrated the opening of Melrose North, a new building with 171 affordable apartments. Of the 171 affordable homes, 103 of the housing units are allocated for formerly homeless individuals and families. The apartments are located at the New York City Housing Authority’s Morrisania Air Rights campus in South Bronx and has a ramp for accessibility.

On October 8, 2024, the New York City Department of Housing Preservation and Development (HPD) published the proposed rules for the Affordable Neighborhoods for New Yorkers (Real Property Tax Law Section 485-x) and Affordable Housing From Commercial Conversions (Real Property Tax Law Section 467-m) programs.