Rick Gropper Of Camber Property Group Secures $605M Construction Loan For Linden Plaza In Brooklyn

735 Lincoln Avenue

Stephen A. Schwarzman Of Blackstone Group Secures $550M Refinance Loan For 8 Spruce Street

8 Spruce Street

Will Silverman

Grant Frankel

Ethan Pond

Gary Phillips

Vaya Development Secures $483.3M Loan For Nine Multifamily Buildings In East Harlem

307 314 East 117th Street

Matthew Rooney Of MDG Design & Construction Secures $448.7M Rehab Loan For Williamsburg Multifamily Properties

142 Leonard Street

HDC seeks to increase the supply of multi-family housing, stimulate economic growth and revitalize neighborhoods by financing the creation and preservation of affordable housing for low- , moderate- , and middle-income New Yorkers.
In 1971, the New York State Legislature created the New York City Housing Development Corporation (HDC) as a supplementary and alternative means of supplying financing for affordable housing that was independent from the City’s capital budget. At first HDC concentrated on providing financing for large-scale rental developments but now issues bonds and provides subsidy and low-cost loans to develop and preserve a variety of housing, ranging from large to small and rental and homeownership.
The flexibility built into HDC’s authorizing statute allows it to amend its programs and goals in response to the changing economic climate. As a result, HDC has become the leading local housing finance agency in the nation, outperforming many of the nation’s largest banks in the volume and dollar amount of bonds issued. In the 2012 calendar year, HDC was ranked third nationally in Affordable Housing Finance magazine’s annual rating of the top issuers of multi-family bonds, having issued more than $1.8 billion in bonds; more than Bank of America Merrill Lynch, JP Morgan Chase and Capital One, among others. In addition, HDC has devoted more than $1.8 billion in direct subsidy from its corporate reserves to deepen affordability of the residential developments it supports. For more information on the projects and programs we support, please visit our Press Room.


NYC Housing Development Corporation

NYC Housing Development Corporation | Traded