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Directory of NYC Housing Programs

Neighborhood Pillars

The Multifamily Disposition and Finance Programs encompasses the New York City Department of Housing Preservation and Development’s (HPD) Third Party Transfer Program (TPT) and Multifamily Preservation Loan Program (MPLP) and designates qualified sponsors to purchase and rehabilitate distressed vacant and occupied multi-family properties in order to improve and preserve housing affordable to low- to moderate-income households. All TPT properties are currently owned by the Neighborhood Restore Housing Development Fund Corporation (Neighborhood Restore HDFC) and MPLP properties are currently owned by the City of New York. All properties are subject to an in rem foreclosure. HPD provides loans using City Capital and Federal HOME funds at one-percent interest. HPD may also provide a subsidy in addition to construction and permanent financing sources provided by, but not limited to, private institutional lenders, New York City Housing Development Corporation (HDC) and Low Income Housing Tax Credits (LIHTC).

Program Information Help Icon

  • Alternative Name(s): Pillars, Neighborhood Pillars Down Payment Assistance Fund
  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Large Scale (between 5,000 and 9,999 units)
  • Timeframe: 2018 - Present
  • Occupancy tenure: Rental
  • Construction Type: Rehabilitation
  • Building Type: Multi-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: Low-income, Moderate-income

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