HPD’s Mixed Income Program funds the new construction of multi-family rental
projects affordable to households earning up to 130% of Area Median
Income.
HPD may provide a subsidy of up to $75,000 per unit in
addition to construction and permanent financing sources provided by, but not
limited to: private institutional lenders, the NYC Housing Development
Corporation (HDC) programs such as LAMP, Mixed Income, or New HOP; New York
State Division of Housing and Community Renewal (DHCR) programs such as Homes
for Working Families, New York State Low Income Housing Tax Credit (SLIHC),
Federal Low Income Housing Tax Credit (LIHTC) and New York State Low Income
Housing Trust Fund (HTF); and New York State Housing Finance Agency (HFA)
programs. Projects may qualify for §421-a, §420-c, or Article XI tax
exemptions
For more information about loan terms and eligible applicants, please
download the New Construction Mixed Income Program term sheet here.
Phone Number: (212) 863-6482
Click here
to learn more about other new construction loans.
