New Construction and Preservation
HDC helps to finance the creation and preservation of affordable housing under the Administration’s Housing New York plan. Under Housing New York, the City aims to achieve 300,000 units of housing by 2026, with 40% of that plan aimed at the creation of newly constructed housing opportunities and the remaining 60% of production targeted towards preservation efforts to repair and extend the affordability of existing housing stock to ensure New Yorkers can remain in the communities they call home.
Public Housing Finance
HDC is dedicated to financing the rehabilitation of our City’s public housing stock, working together with the New York City Housing Authority (NYCHA) to advance the NYCHA PACT plan and NYCHA’s Blueprint for Change ideas. PACT and the Blueprint aim to convert NYCHA developments from federal Section 9 funding to more stable, project-based federal Section 8 funding, while maintaining tenant protections and public control of NYCHA buildings. Converting to Section 8 will enable residents of public housing to secure critical capital repairs for their homes and buildings.