Keeping People in Their Homes and Neighborhoods
While new development is a critical piece of the puzzle, the majority of our work through Housing New York involves preserving the quality and affordability of the city’s existing housing stock.
Although recent data show that incomes are now rising more than rents, one-third of New York City renters are severely rent-burdened – paying more than 50 percent of their income on rent – and, more New Yorkers fear they are losing their place in the city they love and helped to build. With a shrinking supply of low-cost housing, the City’s preservation efforts are more critical than ever. Whether financing renovations to a portfolio of small buildings scattered across a neighborhood or making major capital improvements to the City’s valuable Mitchell-Lama developments, HDC is at the forefront of this work to secure the long-term health and affordability of existing housing to keep people in their homes and stabilize communities.

