Cornerstone Program
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The Cornerstone Program is an HPD multifamily new construction initiative designed to facilitate the construction of mixed income housing on City-owned land. Developers are selected on a project-by-project basis through a competitive Request for Proposals (RFP) process. The Cornerstone Program draws on a variety of funding sources including HPD’s Mixed Income Rental Program (MIRP) and Participation Loan Program (PLP), New York City Housing Development Corporation’s New Housing Opportunities Program (NewHOP), Low Income Affordable Marketplace Program (LAMP), and Cooperative Housing Program, New York State’s Affordable Housing Corporation (AHC) and Homes for Working Families Program (HWF), and the New York City Housing Partnership Development Corporation. Preference is given for mixed income projects that provide the greatest mix of affordability, using the least amount of subsidy. In FY07 and FY08, over 3,500 new housing opportunities will be generated through the Cornerstone Program.
As development opportunities through the Cornerstone program become available, Requests for Proposals will be posted below. Developers seeking more information about this program may call (212) 863-5998. If you are looking for an affordable apartment or home, please visit our apartment listings.
List of Cornerstone Round IV Designees
Click here for HPD's lists of affordable homes
To request a homeownership kit, call 311
Information for developers: (212) 863-5998
