Senior Housing Program
Through the Senior Housing Program, New York State Homes and Community Renewal (HCR) provides financing to develop new multi-family rental housing so that New York State’s low-income seniors may age in place and live independently in their own homes and communities. The housing created will include healthy aging programming that does not trigger Department of Health (DOH) licensure, yet will access community partnerships, resources and activities for those aged 62 and above.
- Supply/Demand: Supply
- Category: Land and Financing
- Occupancy tenure: Rental
- Construction Type: New Construction, Non-residential Conversion
- Building Type: Multi-family
- Developers/Owners: For-profit, Non-profit
- Income Restrictions: At least 85 percent of the units must be affordable to households with an annual income of up to 60 percent Area Median Income (AMI). Up to 15 percent of the units can serve seniors with an annual income of more than 60 percent AMI and up to 100 percent AMI.
- Special Populations: Seniors