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NYC Department of Housing Preservation & Development
Press Room

Thursday, September 10, 2009
HPD COMMISSIONER CESTERO HEADLINES NYSAFAH BREAKFAST, DISCUSSES PROGRESS OF MAYOR’S NEW HOUSING MARKETPLACE PLAN
New York, NY – New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero delivered remarks this morning at The New York State Association for Affordable Housing (NYSAFAH) Networking Breakfast, regarding HPD’s progress on Mayor Bloomberg’s New Housing Marketplace Plan and the future course of the plan. The event which was held at the Yale Club in Manhattan was Commissioner Cestero’s first NYSAFAH meeting since returning to HPD as Commissioner earlier this year. The Bloomberg Administration’s New Housing Marketplace Plan (NHMP), an ambitious $7.5 billion initiative to create and preserve 165,000 units of affordable housing for half a million New Yorkers. Michael Skrebutenas, Deputy Secretary for Economic Development of New York State, was also a guest speaker at the event.




Thursday, September 3, 2009
HPD, HDC JOIN DUNN DEVELOPMENT, ACORN AND ELECTED OFFICIALS TO CUT RIBBON AT NEW AFFORDABLE HOUSING DEVELOPMENT IN BROOKLYN
Brooklyn, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero and New York City Housing Development Corporation (HDC) Senior Vice President for Development Joan Tally joined Martin Dunn, President of Dunn Development Corp. and Pat Boone, President of NY ACORN, and Hazel DaSent, NY ACORN Housing Company, for a ribbon cutting today at 1825 Atlantic Avenue in the Bedford-Stuyvesant neighborhood in Brooklyn to unveil the newly completed Atlantic Avenue Apartments. The Atlantic Avenue Apartments is a 7-story elevator building providing 150 units of housing. At least a dozen of those units will be reserved for adults with developmental disabilities. Other distinguished guests also in attendance for today’s ribbon cutting included New York State Division of Housing and Community Renewal Commissioner (DHCR) Deborah Van Amerongen, State Senator Velmanette Montgomery, State Assembly Member Annette Robinson, Council Member Darlene Mealy, and New York State Energy Research and Development Authority (NYSERDA) Director of Energy Programs, Michael Colgrove . The creation of affordable housing in neighborhoods across New York City is part of the City's Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.




Tuesday, August 25, 2009
HPD ANNOUNCES 12,500 UNITS OF AFFORDABLE HOUSING FINANCED IN FY09
New York City Housing Preservation and Development (HPD) Commissioner Raphael E. Cestero announced today that amid a nationwide economic downturn and an uncertain housing market, the City has financed more than 12,500 units of affordable housing for middle-class and low-income New Yorkers over the last fiscal year, which ended June 30, 2009.




Tuesday, August 18, 2009
MAYOR BLOOMBERG, GOVERNOR PATERSON & HUD ANNOUNCE NATION'S FIRST HOUSING DEVELOPMENTS TO START CONSTRUCTION USING FUNDS FROM THE AMERICAN RECOVERY AND REINVESTMENT ACT’S TAX CREDIT ASSISTANCE PROGRAM
Mayor Michael R. Bloomberg and Governor David A. Paterson today announced that New York City is first City in the nation to begin construction of new affordable housing using funds from the American Recovery and Reinvestment Act’s Tax Credit Assistance Program (TCAP). Four housing developments – three in Harlem and one in East New York – will comprise 739 units of affordable housing and their construction will provide more than 2,800 construction jobs. The Tax Credit Assistance Program aims to increase the supply of newly constructed or recently renovated affordable housing units that otherwise would not have come to market due to current economic conditions. The $60 million in stimulus funding spent on the first four developments accounts for more than 70 percent of New York City’s Tax Credit Assistance Program allocation. Building affordable housing in neighborhoods across New York City is a central component of the Bloomberg Administration’s Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.




Friday, August 7, 2009
DEPUTY MAYOR LIEBER AND COUNCIL SPEAKER QUINN LAUD FANNIE MAE'S CANCELLATION OF PROPERTY AUCTION IN THE SOUTH BRONX AT THE CITY’S REQUEST
Deputy Mayor for Economic Development Robert C. Lieber and City Council Speaker Christine C. Quinn today praised Fannie Mae's decision to cancel the online auction of the Ocelot Capital Group's properties in the South Bronx. The Department of Housing Preservation and Development had urged Fannie Mae to cancel the online auction to prevent another speculative purchase of the properties. Ocelot purchased 521 units in 19 buildings between 2006 and 2007 and subsequently defaulted on its mortgage, prompting foreclosure proceedings. The buildings have fallen into disrepair, exposing residents to poor living conditions during Ocelot's ownership. Fannie Mae and the Department of Housing Preservation and Development will now collaborate on identifying a new, responsible owner that will maintain and rehabilitate the buildings as quickly as possible. The City will also pursue legislative, financial, and enforcement initiatives to address similar cases, where neighborhoods are facing possible destabilization and reduced quality of life due to troubled investments in multifamily housing.




Thursday, August 6, 2009
Government, Private and Non-Profit Partners Break Ground on 124 Units of Affordable Housing in the South Bronx
August 6, The Bronx – New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael Cestero, together with Comunilife Inc. President & CEO Dr. Rosa M. Gil and Blue Sea Development Company principals Les Bluestone and Avery Seavey today announced the start of construction of the Prospect Macy Development. The development will consist of a 63-unit affordable cooperative building and a 61-unit supportive housing building, the “Comunilife Prospect Supportive Residence.” Designated through HPD’s Cornerstone Program – a multifamily new construction initiative designed to facilitate the creation of mixed income housing on City-owned land – the buildings will be located on adjoining lots at Prospect Avenue and Macy Place in the Longwood section of the South Bronx. The creation of affordable housing in neighborhoods across New York City is part of the City's Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods. Commissioner Cestero, Mr. Bluestone and Dr. Gil were joined by NYS Senator Ruben Diaz, Sr; Department for the Aging Commissioner Liliam Barrios-Paoli; Council Member Carmen E. Arroyo; Enterprise Vice President Abby Jo Sigal and Bronx Community Board 2 Chairman Roberto Garcia.




Thursday, August 6, 2009
HDC, HPD & Jackson Development Celebrate a Milestone: The First Development in the Nation to Use Recycled Bonds
The St. Ann’s Terrace project will redevelop the largest remaining vacant parcel of land in the Melrose Commons Urban renewal Area of the South Bronx. This three-block parcel of vacant land will be transformed into a mixed-income residential community with ground floor retail space and underground parking. The site is bordered by St. Ann’s Avenue, East 156th Street, Eagle Avenue and East 159th Street. There will be approximately 600 residential apartments, 50,000 sq. ft. of ground floor retail and parking spaces for about 400 cars under several of the buildings. Initially, construction will move forward on six buildings and about 186 parking spaces. The total development cost for these first six buildings is more than $169.4 million. An additional 160 units in two more buildings, that will be to the last to begin construction, as well as additional parking, will be announced at a later date. The St. Ann’s Terrace development is a joint venture between the Jackson Development Group and the Joy Construction Corporation. Joy Construction will also serve the General Contractor for the entire Project.




Thursday, July 30, 2009
HPD INVITES DEVELOPERS TO APPLY FOR HOUSING ASSET RENEWAL PROGRAM FUNDING
Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero announced today that the City is releasing the Notice of Funding Availability (NOFA) for the financing of affordable housing under the City’s new Housing Asset Renewal Program (HARP). The $20 million pilot program will turn unsold condominiums, unrented apartments and stalled construction sites into affordable housing opportunities for moderate- and middle-income families. The affordable housing created will be part of Mayor Michael R. Bloomberg’s New Housing Marketplace Plan to build and preserve 165,000 units of affordable housing, and part of the City’s Five Borough Economic Opportunity Plan to create jobs for New Yorkers, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.
PRESS RELEASE # 13-09




Wednesday, July 22, 2009
HPD, HDC and Artimus Construction Unveil 125-Unit Mixed Income Housing Development in the Central Harlem
July 22, Manhattan – New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael Cestero together with New York City Housing Development Corporation (HDC) President Marc Jahr, Artimus Construction Principal Robert Ezrapour and Citi National Director, North America Community Relations, Gina Doynow today announced the completion of Susan’s Court, a 125-unit mixed-income housing development in Central Harlem. Developed under HPD’s Cornerstone Program – a multifamily new construction initiative designed to facilitate the creation of mixed income housing on City-owned land – Susan’s Court was also financed by HDC’s New Housing Opportunity Program (New HOP), one of a number of programs created to fund the construction and rehabilitation of affordable housing. The creation of affordable housing in neighborhoods across New York City is part of the City's Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.
PRESS RELEASE # 12-09




Thursday, July 9, 2009
HPD RELEASES REVISED INITIAL FINDINGS OF 2008 NEW YORK CITY HOUSING AND VACANCY SURVEY
The New York City Department of Housing Preservation and Development (HPD) today released revised initial results of the 2008 New York City Housing and Vacancy Survey (HVS). The revised 2008 HVS data arose from the US Census Bureau’s correction of erroneous base weights applied to some sample units. Though the resulting changes had little to no meaningful effect on the survey’s technical or policy-related findings, it was important to revise the initial findings to preserve its accuracy for use in comparisons with past and future data
PRESS RELEASE # 11-09



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