HDC seeks to increase the supply of multi-family housing, stimulate economic growth and revitalize neighborhoods by financing the creation and preservation of affordable housing for low- , moderate- , and middle-income New Yorkers.

In 1971, the New York State Legislature created the New York City Housing Development Corporation (HDC) as a supplementary and alternative means of supplying financing for affordable housing that was independent from the City's capital budget. At first HDC concentrated on providing financing for large-scale rental developments but now issues bonds and provides subsidy and low-cost loans to develop and preserve a variety of housing, ranging from large to small and rental and homeownership.  

The flexibility built into HDC’s authorizing statute allows it to amend its programs and goals in response to the changing economic climate. As a result, HDC has become the leading local housing finance agency in the nation, outperforming many of the nation’s largest banks in the volume and dollar amount of bonds issued. In the 2012 calendar year, HDC was ranked third nationally in Affordable Housing Finance magazine’s annual rating of the top issuers of multi-family bonds, having issued more than $1.8 billion in bonds; more than Bank of America Merrill Lynch, JP Morgan Chase and Capital One, among others. In addition, HDC has devoted more than $1.8 billion in direct subsidy from its corporate reserves to deepen affordability of the residential developments it supports. For more information on the projects and programs we support, please visit our Press Room.

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New York City Housing Development Corporation

New York City Housing Development Corporation's headquarters in New York, NY, United States

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People (38)

Eric Enderlin

Marc Norman

Lauren Connors

Moira Skeados

Jessica Facciponti

Nashaun Latham

Bobby Toth

Justin Mathew

Trish Ostergaard

Ronald Kestelboym

Lisa Wertheimer

Alison Glaser

Michelle A.

Sean Capperis

John Gearrity

Lisa C. Brice

Christina Clarke

Zi Lin Liang

Sharon V. Skolnik

Ankita V.

Merin Elizabeth Urban

Cullen MacDowell

Larry Wu

Aaron Pincus

Paul Cackler

Lydia Aponte-Villa

Ryan A. Gabriel Cmit

Asha Alshabazz

Sandy Gallagher

Luke Schray

Libby Rohlfing

Austin Masal

Claire Igot

John S.

David Mischiu

Stephanie Mavronicolas

Brian Daaleman

Daniel Gersh

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