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Directory of NYC Housing Programs

New York City Housing Trust Fund (NYC HTF)

The New York City Housing Trust Fund (NYC HTF) provided a flexible subsidy to non-profit and for-profit developers to build or substantially rehabilitate multi-family apartments. Subsidies were provided in the form of a 30-year term, one percent interest loan. Apartments were rentals, condominiums, or cooperatives of at least ten units. In order to be eligible for funding consideration, proposed projects had to include a minimum of 20 percent of units affordable to hard-to-reach households, defined as those whose earnings are at or below 30 percent of AMI, or between 61 percent and 80 percent of AMI. The NYC HTF was funded in 2006 with $130 million in revenues from the Battery Park City Authority, a state agency created in 1968 charged with overseeing the development of Battery Park City.

Program Information Help Icon

  • Alternative Name(s): Affordable Trust Fund
  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Medium Scale (between 1,000 and 4,999 units)
  • Timeframe: 2006 - 2008
  • Occupancy tenure: Rental, Homeownership
  • Construction Type: New Construction, Rehabilitation
  • Building Type: Multi-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: Extremely Low-income, Low-income

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