HPD and HDC Announce Vacant Lot Will Be Transformed Into 79-Unit Affordable Housing Development

The new affordable housing development will also include a community space that houses a local church and a non-profit organization. On October 4, 2018, the Department of Housing Preservation and Development and the Housing Development Corporation announced the start of the construction of a 79-unit affordable housing development on a previously vacant city-owned lot in Harlem. HPD and HDC partnered with Lemor Development, TD Bank, Street Corner Resources, and the Downtown Baptist Church of Christ … <Read More>

Renovations For Staten Island Affordable Housing Completed

Modernization of apartment complex includes extension of affordability for the next 40 years. On June 5, 2018, the Department of Housing Preservation and Development announced completion of modernization work at the Fox Hill Apartments. The New York State Homes and Community Renewal, Rockabill Consulting-Development, Park Management, and development partners joined HPD in a ribbon cutting ceremony in front of the complex, at 320 Vanderbilt Avenue in Staten Island.

Request for Qualifications Used To Match Buildings With Buyers

Request for Qualifications will be used to identify potential buyers who will preserve and maintain affordability. On April 5, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer announced the release of a Request for Qualifications to establish a list of Qualified Preservation Buyers. The Request for Qualifications will identify qualified buyers to purchase and rehabilitate buildings in the City. It will be used as a resource to create a list for potential sellers to find … <Read More>

Financing Approved for Affordable Housing Developments

HDC approves the financing to fund 2,226 units of affordable housing. On June 16, 2014, the Board of Directors of the New York City Housing Development Corporation approved the financing for projects in Manhattan, the Bronx, and Brooklyn which will consist of $2756 million in bonds and $88.7 million in subordinate financing for HDC. The money will be used to construct eleven new buildings with 1,259 affordable housing units and preserve and protect seven projects … <Read More>