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
JV buys Fremont apartments from Harbert in latest Silicon
Valley deal
Grid Properties’ Harlem shopping center again faces default
warning
Welltower drops $100M on San Jose senior housing complex as
silver tsunami washes across Silicon Valley
Fisher Brothers heads to Israeli bond market to buy JPMorgan
out of Midtown office
Empire State Realty Trust quickly unloads 1359
Broadway
Judge tosses Mark Nussbaum’s bad faith bankruptcy
filings
Council tantrum: Is Mamdani nominee really so
terrible?
NY Dirt: City’s lofty 700k housing push eyes low growth
areas
One Number Could Change Everything About Your Next
Move
JPMorgan Makes a $750B Bet on the Housing Market
