The New York City Department of Housing Preservation and Development (HPD) is the largest municipal housing preservation and development agency in the nation. The agency’s mission is to promote housing equality and create and sustain viable neighborhoods for New Yorkers though housing education, outreach, loan and development programs and enforcement of housing standards. HPD is responsible for implementing the New Housing Marketplace Plan (NHMP), a multibillion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers by the close of the 2014 fiscal year. HPD is on track to meet that deadline and perhaps surpass the goal.
Thanks to the programs and partnerships created by HPD most of the property formerly owned by the City is now back in private hands, having been developed or preserved as affordable housing. The agency has developed innovative community revitalization initiatives that promote private investment and productive public-private partnerships such as Mortgage Assistance Program (MAP), HomeFirst Down Payment Assistance Program and Real Estate Owned (REO). HPD works with its governmental, community, non-profit, and for-profit partners to strengthen neighborhoods increase the supply of well-maintained, affordable housing and to enable more New Yorkers to become homeowners.
Today, vacant buildings and lots that were once a blight on many of the City's neighborhoods have been transformed into safe, affordable homes for families. Communities that were devastated are now vibrant with dynamic new construction and large scale developments that feature commercial space, community space and open spaces for public and private use. HPD's housing programs have helped to restore and rebuild housing as well as to improve the quality of life in New York City's richly diverse communities.