Neighborhood Ownership Works (NOW)

Neighborhood Ownership Works (NOW) conveyed clusters of occupied and vacant city-owned buildings throughout New York City to selected community-based, nonprofit organizations for rehabilitation and operation as rental housing. HPD maintained ownership of the properties during construction, which was financed through a combination of city and federal funds. After construction completion, HPD sold the properties to non-profit organizations. The structure of NOW is very similar to the Neighborhood Redevelopment Program, with the difference that under NOW, the moderate rehabilitation of the city-owned buildings was performed while in city ownership. Through the NOW program, the BAALDC manages 394 units in 15 former City-owned properties.

Neighborhood Redevelopment Program (NRP)

The Neighborhood Redevelopment Program (NRP) coveys clusters of occupied and vacant city-owned buildings throughout New York City to selected community-based nonprofit organizations for rehabilitation and operation as rental housing. Once the properties are sold to the non-profit organization, rehabilitation is financed by HPD through the sale of Low-Income Housing Tax Credits, which also provides reserves to cover future capital needs and operating costs. Initial rents for vacant units may not exceed market rents for apartments of comparable size in the neighborhood. However, units were primarily subsidized with LIHTC and HOME funds requiring apartments to be rents to households earning 50% or 60% of AMI. As of December 31st, 2016, twenty-seven buildings have been rehabilitated under the NRP program comprising of 396 units. 2089/91 Arthur Avenue rehabilitation will be completed in the year 2017.

Arthur Clinton Apartments

Central Bronx Housing Apartments

Clay Walton Apartments

Stebbins Prospect Apartments

Tri-Bel Apartments

New York State Tax Credit Program

Crotona Park North Apartments were originally funded by New York State Department of Housing and Community Renewal in 1992 under the Housing Trust Fund program. In 2014 the New York State Department of Housing Rehabilitation provided $5,791,122.00 under the New York State Tax Credit Program towards the upgrade of these 67 units.

Crotona Park North Apartments (Hcr / Tax Credit)

SIP Building Program

The Special Initiatives Program (SIP) was a turnkey program to develop vacant city-owned property where either HPD or the New York City Housing Authority (NYCHA) supervised private contractors during constriction, and then conveyed ownership of all newly-constructed or rehabilitated buildings to qualified non-profit sponsors. Originally, 100 percent of the units were reserved for homeless residents, but HPD later modified the program to require a mix of 60 percent homeless, 20 percent low-income, and 20 percent moderate-income households. The formerly homeless population was eligible for Section 8 vouchers, and the rent revenue from Section 8 residents not only covered building maintenance costs, but also provided a revenue steam which allowed non-profit sponsors to make social services available to the residents. These requirements terminated in 2016 and now all future vacant units will be available to the general public as long as they do not exceed income guidelines.

Bathgate Belmont Apartments

Washington Avenue Apartments

Weeks Avenue Apartments

Non-clustered Sip Buildings

Third Party Transfer Program

HPD created the Third Party Transfer Program (TPT) in 1996 as an alternative to owning and managing in-rem properties. Under the TPT, when New York City forecloses on properties for unpaid real estate taxes, ownership is transferred directly to Neighborhood Restore, a non-profit organization. Neighborhood Restore, in turn, works with qualified non-profit and for-profit developers to stabilize, manage, and plan for the rehabilitation and future ownership of these properties. This includes arranging financing which may include HPD and LITHC sources. Neighborhood Restore then transfers ownership of the properties to the qualified developer who must rehabilitate the building if necessary and continue to manage the property as affordable housing. Three of the four buildings listed below comprising of 94 units have been completed and are occupied. 62/66 W. Tremont Avenue is currently under rehabilitation and is slated to be completed by the end of year 2017.

Third Party Transfer Buildings

Section 202 Program-Supportive Housing for the Elderly

The Section 202 Program is designed to enable very low income elderly (62 years of age or older) and disabled persons to live independently by increasing the supply of rental housing with supportive services. The U.S. Department of Housing and Urban Development (HUD) provides capital advances to finance the construction, rehabilitation or acquisition that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable.

The BAALDC has thus far completed four Section 202 housing projects. All facilities feature community rooms, gardening plots, backyards with seating areas, laundry rooms, private parking, and 24 hour security. Rents are subsidized under the Section 202/8 Program so that eligible tenant pay no more than 30% of their income for rent.

Section 202 Program Buildings

The BAALDC has been assigned 5 buildings formally under HPD’s Tenant Interim Lease program. These buildings failed to achieve the goals of the tenant interim lease program and were transferred to the BAALDC as affordable rentals under a regulatory agreement with the City of New York. All of these buildings were rehabilitated by contractors selected by HPD and after rehabilitation were assigned to the BAALDC to own and manage as affordable housing.