Investing in Affordable Housing for New Yorkers
Since 1991, the Fund has played a major role in improving the lives of thousands of residents while strengthening their neighborhoods. Through programs with the Community Preservation Corporation, the Fund has been able to provide moderate-income and low-income families across the State with the opportunity to rent affordable housing. By purchasing permanent mortgages, the Fund provides for the production of affordable new multifamily housing and the revitalization of deteriorated or obsolete housing units. Special housing for the State’s senior citizens and other constituencies with special needs is also part of the program. Since inception of this program, 14,913 units have been completed.
As of March 31, 2012, the program has over 2,065 units in the pipeline and has invested $577.4 million in mortgages. In fiscal year 2011-12, the Fund invested in affordable housing throughout the State, including Dutchess, Onondaga, Nassau, Rockland, Saratoga, Ulster and Westchester Counties.
Back to The Fund’s Impact on NYS Residents.