HPD unveils $1B fund for supportive housing preservation
Supportive housing across New York’s five boroughs will get a $1 billion infusion from the Department of Housing Preservation and Development, with a portion allocated to preserving the city’s stock of more than 30,000 affordable rental units that provide services to tenants at risk of homelessness and other challenges. The Supportive Preservation Program launched Tuesday will target only existing supportive housing stock for assistance to address financial needs and grant residential real estate tax exemptions, as well as provide below-market loans and modify existing HPD loans to encourage conventional lenders, according to the announcement. The supportive housing movement in New […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Box Office Magic: Preserving America’s Century-Old
Theaters
Beyond The City Center: Six Splendid Suburban Homes Around
The World
Taconic sells UES life sciences site to LCOR for
$73M
Extell finalizes $1.3B loan for Times Square
supertall
Controversial Mamdani BSA pick confirmed after quelling
concerns
Jay Badame jumps off sidelines with Bravo Group role
Data Centers Are Moving Closer to Homes. What Does That Mean
for You?
Israeli bondholder demands GFI affiliate consider sale of
Beekman, Seville hotels
What Rent Data From All 50 States Says Landlords Get
Wrong
We Asked Brokers: Where Is the Biggest Buyer’s Market
Today?
