New York City Housing Development Corporation
The New York City Housing Development Corporation (HDC) plays a key role in advancing the goals set forth in the City’s Housing New York 2.0 plan which aims to create a more fair and equitable city through the creation and preservation of affordable housing. Together with the New York City Department of Housing Preservation and Development (HPD) and our many other valued partners across the housing industry, we have made significant strides towards bringing affordable housing opportunities to New Yorkers in greatest need.
This year alone, the City financed more than 25,000 affordable homes, bringing the total number of units created or preserved under the Housing New York 2.0 plan to 147,933. Roughly half of this overall production has been supported through financing provided by HDC.
In 2019, a record-breaking 10,197 newly constructed apartments were financed under the housing plan, including transformative projects like The Peninsula Building 1B which is part of a multi-phased development that will ultimately bring more than 700 units of 100 percent affordable housing to the Bronx.
The City preserved an additional 15,692 apartments this year—among them the 524-unit, scattered-site JOE Central Brooklyn project, which will help to make sure more New Yorkers can continue to live in and afford the neighborhoods they call home.