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Directory of NYC Housing Programs

Small Rental Development Initiative (SRDI)

The Small Rental Development Initiative (SRDI) supports the creation and preservation of single-family housing with one to four units and small rental developments of fewer than 25 apartments. SRDI funds were made available through New York State Homes and Community Renewal’s (HCR) NYS HOME Local Program and were awarded to non-profits, community housing development organizations and housing authorities that will own, develop and long-term manage single-family and small rental development housing throughout New York State. SRDI was designed to meet the needs of both rural and urban communities by addressing the specific needs of small rental homes and developments. The program is flexible to account for the large variety of rental housing types and sizes present in New York’s communities.

Program Information Help Icon

  • Supply/Demand: Supply
  • Category: Land and Financing
  • Scale: Small Scale (between 1 and 999 units)
  • Timeframe: 2017 - Present
  • Occupancy tenure: Rental
  • Construction Type: New Construction, Rehabilitation
  • Building Type: One- to Four-family, Multi-family (max of 25 units)
  • Developers/Owners: Non-profit, Government
  • Income Restrictions: Low-income

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