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Directory of NYC Housing Programs

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Neighborhood Homes Program

Program (?) Neighborhood Homes Program
Abbreviation NHP
Program Description

The Neighborhood Homes Program (NHP) transferred occupied, city-owned one- to four-family residential buildings to selected community-based sponsors for rehabilitation and eventual sale to owner occupants. Non-profit sponsors received an evaporating loan from HPD and a construction loan from Local Initiatives Support Corporation (LISC), the Enterprise Foundation, or a conventional lender to rehabilitate the building. Tenants that lived in the building prior to the program had the opportunity to purchase program homes before non-tenants. To qualify for the purchase of the home, households must have demonstrated an ability to qualify for mortgage financing and be committed to residing in the renovated home for a minimum of 10 years.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Financing, Property
Government Agency (?) NYC Dept of Housing Preservation and Development
Program Information (?)  
Scale Medium Scale (between 1,000 and 4,999 units produced)
Timeframe 1998-2008
Developer/Owners (?) Non-Profit, Government
Property Information (?)  
Property Occupancy Occupied
Property Type Building, City-Owned
Building Type One- to Four-family
Construction Type Rehabilitation
Occupant Tenure (?) Homeownership
Occupant Income Restrictions (?) No Restrictions
More Information NYC HPD
Available on CoreData.nyc? No

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