NYC HOUSING ASSET RENEWAL PROGRAM (HARP)

Funding for the conversion to affordable housing of completed or partially constructed residential buildings in the New York City

The Department of Housing Preservation and Development (HPD) and the Housing Development Corporation (HDC) are inviting development teams to submit applications for the funding of affordable housing units in completed or partially constructed unoccupied residential buildings where, due to market or construction conditions, the owner is unable to complete construction or to sell or rent a sufficient number of units to meet private lending requirements and therefore construction or completion has been stalled.  The funding available through this Notice of Funding Availability (NOFA) is intended to convert market-rate units to affordable units and enable the owner to complete construction and/or rent or sell units.  Applicants can apply for funding to convert the developments into either affordable rental housing or affordable homeownership housing.

The NOFA document is now available on HPD's website:

For more information