Corporate Accomplishments


HDC was created in 1971 to provide financing for the production of affordable multi-family housing within the five boroughs. Since inception, HDC has issued in excess of $9 billion of bonds and notes to provide construction and/or permanent loans for the acquisition, refinancing, construction and/or rehabilitation of more than 116,000 units of affordable housing.  In addition, HDC also provides subordinate financing, typically in the form of 1% mortgages through its limited corporate reserves.

HDC has financed: 

  • Over 38,969 apartments, of HDC's 42,000 commitment, have been created or preserved toward meeting Mayor Michael R. Bloomberg's ten-year initiative, New Marketplace Plan: Creating Housing for the Next Generation (2003 - present)
  • More than 18,000 Mitchell-Lama apartments preserved through the Refinancing Program and Repair Loan and Grant Programs
  • More than 4,130 units of middle-income rental and General Mitchell-Lama Preservation Program under the New Housing Opportunities Program (New HOP) (1997-present)
  • More than 19,300 units of low-Income housing generated through the LAMP Program (including units financed by the former 100% LITE program) (1997-present)
  • More than 2260 units of housing generated through the Mixed-Income Program (2003-present)
  • Over 2550 units of cooperative housing under the Cooperative Housing Program (2004-present)
  • 9,800 units of "80/20" rental housing (1984-present)
  • More than 10,000 low- and moderate-income units of newly constructed and rehabilitated rental and limited-equity cooperative housing in conjunction with the City's Department of Housing Preservation and Development (1985-present)
  • Over 100 seed money and working capital loans to not-for-profit sponsors of more than 10,000 units of HPD-assisted homeless and low-income housing (1987-present)
  • 8,036 units of new Mitchell-Lama housing (1972-1978)
  • Nearly 30,000 units of refinanced Mitchell-Lama housing (1972-1980)
  • Approximately 10,000 Section 8 apartments (1979-1984)
  • More than 3,800 public housing units (1983-1984)
  • 872 units of hospital staff housing (1985-1993)

(Eff. July 2008)