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CoreData.nyc

Directory of NYC Housing Programs

Neighborhood Homes Program (NH)

The Neighborhood Homes (NH) program 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 the New York City’s Department of Housing Preservation and Development (HPD) and a construction loan from the Local Initiatives Support Corporation (LISC), the Enterprise Foundation (now known as Enterprise Community Partners), 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.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Medium Scale (between 1,000 and 4,999 units)
  • Timeframe: 1998 - 2008
  • Occupancy tenure: Homeownership
  • Construction Type: Rehabilitation
  • Building Type: One- to Four-family
  • Developers/Owners: Non-profit, Government

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