The New York City Housing Development Corporation (HDC) is dedicated to increasing the availability of multi-family housing, promoting economic growth, and revitalizing neighborhoods by financing the development and preservation of affordable housing for low-, moderate-, and middle-income New Yorkers.

Established in 1971 by the New York State Legislature, HDC was designed as a supplementary, independent financing body separate from the City’s capital budget. Initially focusing on large-scale rental developments, HDC now plays a pivotal role in issuing bonds, providing subsidies, and offering low-cost loans to support a diverse range of housing projects, including both rentals and homeownership opportunities.

Over the decades, HDC’s adaptability to changing economic climates has solidified its reputation as the nation’s leading local housing finance agency. Notably, in 2012, HDC ranked third nationally in Affordable Housing Finance magazine’s annual review of top multi-family bond issuers, surpassing major financial institutions like Bank of America Merrill Lynch and JP Morgan Chase. To date, HDC has issued over $1.8 billion in bonds and allocated a similar amount in direct subsidies to ensure deeper affordability for its supported developments.

With a mission centered on creating sustainable, affordable housing, HDC continues to drive impactful projects across New York City.

For more information, visit: www.nychdc.com