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HDC Will Issue $660M in Multifamily Revenue Bonds
Following approval by its board of directors at a recent meeting, the New York City Housing Development Corporation (HDC) plans to issue up to $661 million in multifamily housing revenue bonds. The proceeds will support the financing of affordable housing associated with 13 developments across New York City, comprising 3,197 rental homes, including 980 in newly constructed developments.
They include the 94-unit Victory Commons in the Morrisania section of the Bronx and 163 units of senior housing in Northern Manhattan’s Washington Heights.
“Minority and women- owned business enterprises and local nonprofit organizations will lead these developments and, with HDC’s partnership, the city can help turn affordable housing into a diverse engine of growth,” said HDC board chair Louise Carroll, Commissioner of the New York City Department of Housing Preservation and Development. “Emerging from this crisis will take every New Yorker’s contribution and these projects help set that foundation.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
