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Directory of NYC Housing Programs

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Neighborhood Redevelopment Program

Program (?) Neighborhood Redevelopment Program
Alternative Name(s) Management Partnership Program
Abbreviation NRP
Program Description

The Neighborhood Redevelopment Program (NRP) conveys 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. Once the properties are sold to the non-profit organization, rehabilitation is financed by HPD through a combination of city and federal funds. Equity is generated through the sale of Low-Income Housing Tax Credits, which also provides reserves to cover future capital needs and operating costs. Initial rents for vacant units may not exceed market rents for apartments of comparable size in the neighborhood. However, units were primarily subsidized with LIHTC and HOME funds requiring apartments to be rented to households earning 50 percent or 60 percent of AMI.

Related Programs Neighborhood Ownership Works
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 Large Scale (between 5,000 and 9,999 units produced)
Timeframe 1993-Present
Developer/Owners (?) Non-Profit, Government
Property Information (?)  
Property Occupancy Occupied, Vacant
Property Type Building, City-Owned
Building Type Multi-family
Construction Type Rehabilitation
Occupant Tenure (?) Rental
Occupant Income Restrictions (?) Low-Income
More Information NYC HPD
Available on CoreData.nyc? Yes
Last Updated June 2018
Data Source New York City Department of Housing Preservation and Development
CoreData.nyc Notes

Data from New York City Department of Housing Preservation and Development accessed June 2018 (reflects data as of March 2018).

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