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Neighborhood Ownership Works

Program (?) Neighborhood Ownership Works
Abbreviation NOW
Program Description

Neighborhood Ownership Works (NOW) conveyed clusters of occupied and vacant city-owned buildings throughout New York City to selected community-based, non-profit organizations for rehabilitation and operation as rental housing. HPD maintained ownership of the properties during construction, which was financed through a combination of city and federal funds. After construction completion, HPD sold the properties to non-profit organizations.

The structure of NOW is very similar to the Neighborhood Redevelopment Program, with the difference that under NOW, the gut rehabilitation of the city-owned buildings was performed while in city ownership. Under NRP, the rehabilitation was performed under private ownership.

Related Programs Neighborhood Redevelopment Program
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 N/A
Developer/Owners (?) Non-Profit, Government
Property Information (?)  
Property Occupancy Occupied, Vacant
Property Type Building
Building Type One- to Four-family
Construction Type Rehabilitation
Occupant Income Restrictions (?) Low-Income
More Information NY Times
Available on CoreData.nyc? No

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