Affordable Neighborhood Cooperative Program

Affordable Neighborhood Cooperative Program

The Affordable Neighborhood Cooperative Program (ANCP) selects qualified developers to rehabilitate distressed city-owned occupied multi-family properties, managed by the Tenant Interim Lease Program, in order to create affordable cooperatives for low and moderate-income households.

How does the program work?

ANCP provides low- to no- interest loans in the form of City Capital subsidy. All ANCP properties are currently owned by the City of New York. Upon construction loan closing, ownership will be transferred to Restoring Communities HDFC, a nonprofit, interim owner. Upon cooperative conversion after construction is complete, ownership will subsequently be conveyed to a newly formed, resident-controlled cooperative HDFC. 

For more information on the loan terms, see the ANCP term sheet.

View Completed Projects

Image of 244-46 Elizabeth Street
244-46 Elizabeth Street
Image of 21 Arden Street
21 Arden Street
Image of 508 West 134th Street
508 West 134th Street
Image of 46-48 East 129th Street
46-48 East 129th Street
Image of 152 East 116th Street
152 East 116th Street
Image of 518 West 161th Street
518 West 161th Street

Resources 

Contact

Affordable Neighborhood Cooperative Program
100 Gold Street, Room 9-W7
New York, NY 10038
ANCP@hpd.nyc.gov