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Directory of NYC Housing Programs

Housing Asset Renewal Program (HARP)

The Housing Asset Renewal Program (HARP) was a pilot program that provided funding to convert unsold condominiums, market-rate rental buildings, and stalled construction sites into affordable housing for households with incomes up to 165 percent of Area Median Income (AMI). HARP was a response to the downturn of the real estate market and the inventory of incomplete, partially occupied or vacant residential developments. Eligible buildings were those where the owner was unable to complete construction, or to sell or rent a sufficient number of units to meet private lending requirements.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Small Scale (between 1 and 999 units)
  • Timeframe: Started 2010
  • Occupancy tenure: Rental, Homeownership
  • Construction Type: Rehabilitation
  • Building Type: Multi-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: Units must be affordable to households with an annual income of up to 165 percent of Area Median Income (AMI).

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