State Legislature Passes Law to Fund Hotel and Office Conversion to Affordable Housing

The properties will be owned, operated and managed by selected nonprofit organizations. On June 9, 2020, the New York State Senate and Assembly passed the Housing Our Neighbors with Dignity Act. The Bill, sponsored by Deputy Majority Leader Michael Gianaris and Assemblymember Karines Reyes, allows New York State to partner with nonprofit organizations to finance the acquisition and conversion of distressed hotels and commercial office space into affordable housing.

HPD Announces Affordable Housing and Library Project in Inwood

The new Eliza project will bring 174 affordable homes and a state-of-the-art public library to the Inwood community. On June 10, 2021, the Department of Housing Preservation and Development announced the Eliza, a mixed use development featuring affordable housing and a public library, and education space, located at 4790 Broadway in Inwood. The project has been fully financed and is moving forward.

Bronx Affordable Housing Development Enters Final Phase

The new affordable housing development will house 261 low-income and formerly homeless ¬†families. On March 19, 2021, Mayor de Blasio and the Department of Housing Preservation and Development announced the groundbreaking of a new affordable housing building in the West Farms section of the Bronx. The building, named Compass Six, is located at 1923 West Farms Road. Compass Six is part of the Compass Resident Development, which will consist of eight buildings and be one … <Read More>

HPD Releases New Design Guidelines for Affordable Housing

The newly revised design guidelines will promote equity, health, and sustainability for affordable housing. On March 4, 2021, the Department of Housing Preservation and Development released newly revised design guidelines for affordable housing. The COVID-19 pandemic led the Department of Housing Preservation and Development to have stronger requirements to improve the standard of living, promote public health, and reduce the carbon footprint of New York City.

City Planning Hears Application for Hotel, Affordable Housing in Belmont

The proposed hotel would be located near several cultural, academic and medical institutions within the Bronx. On March 3, 2021, the City Planning Commission held a public hearing for an application to build a hotel and a residential building on East 188th Street between Arthur Avenue and Hughes Avenue. Currently, the site consists of low-density residential and commercial buildings and a funeral home; none of the residential units are currently rent stabilized, and the commercial <Read More>