NYU Furman Center Sign Up Facebook Twitter LinkedIn

Directory of NYC Housing Programs

New Foundations Program

The New Foundations Program was a streamlined homeownership program from the New York City Department of Housing Preservation and Development (HPD) to develop infill sites in neighborhoods that lacked home ownership opportunities and to encourage small developers and contractors to create affordable housing. It was a mixed-income program that sought to maximize homeowner affordability and income diversity. At least one third of the units in each project were affordable to households earning up to 80 percent of Area Median Income (AMI). Greater consideration was given to projects that included additional tiers of affordability for households earning between 80 percent and 100 percent and between 100 and 130 percent of AMI. Under the program, sponsors purchased city-owned land and constructed one- to four-family homes, cooperatives, or condominiums to provide as many affordable units as financially feasible for low-, moderate-, and middle-income purchasers. The program was formerly known as Small Homes Scattered Sites Loan Program.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Medium Scale (between 1,000 and 4,999 units)
  • Timeframe: Ended 2008
  • Occupancy tenure: Homeownership
  • Construction Type: New Construction
  • Building Type: Multi-family, One- to Four-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: At least one third of units must be affordable to households with an annual income of up to 80 percent Area Median Income (AMI).

View all programs


Filter By