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Affordable Housing

Since our inception, the preservation and development of affordable housing have been at the core of our work. LISC NYC and its affiliates have invested $2.3 billion, which has leveraged $5.4 billion for low- and moderate-income communities across New York City. This has resulted in over 36,000 affordable homes and 1.6 million square feet of retail and community space, stabilizing both individual families and whole communities.

LISC NYC provides:

Current preservation initiatives include:

  • Year 15 Repositioning: LISC NYC works closely with its CDC partners to financially reposition and physically reinvest in LIHTC-financed projects that have reached the end of “Year 15,” the 15-year compliance period.  LISC NYC provides valuable technical assistance to recapitalize the projects and perform needed repairs and upgrades to ensure long-term affordability.
  • Preservation Initiative Program: In a competitive process, LISC NYC and the National Equity Fund were awarded a contract through New York State Division of Homes and Community Renewal (HCR) to provide syndication services and develop a comprehensive financing plan for the rehabilitation of 53 state-assisted properties across New York State.