Image credit: HPD.

One hundred percent affordable buildings will rise in the South Bronx. On April 20, 2018, construction began on two new buildings at La Central in the Bronx. The 1.2 million square-foot development is one of the largest mixed-income projects currently in development in the City. The buildings will be located at 556 and 600 Bergen Avenue. (read more…)

Two sites located at Hudson Yards will be used for future affordable housing development. On April 9, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer announced the release of a Request for Proposals that seeks qualified teams to develop two city-owned sites into mixed-use affordable housing developments. The sites are located in Hudson Yards in the Hell’s Kitchen neighborhoods. (read more…)

NYC HPD

Property owners face 421-a suspension for failure to submit Final Certificates of Eligibility. On March 9, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer and Department of Finance Commissioner Jacques Jiha announced the suspension of 421-a benefits to more than 1,700 property owners. The decision to suspend benefits is part of the Housing Preservation and Development and Department of Finance’s initiative to ensure that properties comply with the 421-a application rules. Currently, there is a total of 11,022 apartments that are not in compliance with 421-a rules. These owners’ 421-a benefits represent $66 million in tax revenue for 2018. (read more…)

NYC HPD

A new comprehensive process will seek to understand and address discrimination, residential segregation, and unequal access to opportunities through studies and community collaboration. On March 9, 2018, the Department of Housing Preservation & Development announced the launch of “Where We Live NYC” in partnership with the New York City Housing Authority. Where We Live NYC is a comprehensive fair housing planning process to study, understand, and address patterns of residential segregation and how these patterns impact New Yorkers’ access to opportunities like jobs, education, safety, public transit, and positive health outcomes. (read more…)

NYC HPD

New cooperative building will give first time home buyers affordable opportunity to own their home. On February 28, 2018, the Department of Housing Preservation & Development (HPD) announced plans to develop a 100 percent affordable seven-story co-op building in the Williamsbridge section of the Bronx. The building, named Sydney House, is the first affordable housing development to be financed under the HPD’s Open Door program. (read more…)