Image Credit: NYC HPD

The City estimates the program will assist in the acquisition of approximately 35 vacant sites over the next five years. On March 8, 2019, the New York City Department of Housing Preservation and Development announced a new program to advance the process for affordable housing development by providing loans for upfront costs to nonprofit developers. The New York City Down Payment Assistance Fund (DPAF) seeks to speed up the development process for affordable housing by providing funds to nonprofit developers that compete for the acquisition of vacant sites to build supportive and affordable housing. The program will provide flexible down payment loans to pre-qualified applicants. (read more…)