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NYS HCR Senior Housing Program

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Status: Available

Type

Capital

Source

State

Procurement Agency

NYS HCR

Summary

The Senior Housing Program provides capital funding for site acquisition, hard costs, and related soft costs to create housing for low-income seniors in New York State. It is available through both the Multifamily Finance 9% LIHTC RFP and the Multifamily Finance 4% program.

Tenant Eligibility Criteria

Low-income seniors, aged 62 and above. AMI restrictions: Up to 60% AMI or up to 80% AMI if utilizing Income Averaging. 

Projects with at least 10% of income-restricted units up to 30% AMI are a priority.

Eligible Applicants

Nonprofit or for-profit developers with experience developing, marketing, owning and managing housing for low income seniors. 

Amount

New York City and Rockland, Westchester, Nassau & Suffolk Counties: Up to $140,000 per housing unit with a household income limit of up to 60% AMI.

Rest of State: Up to $95,000 per housing unit. 

Term

Minimum 40-year regulatory agreement, maximum of 50 years.

Network Notes

For More Information

See the Senior Housing Program term sheet, which is the same document for both the Multifamily Finance 9% LIHTC RFP  here

And the Multifamily Finance 4% program, here.

Contact

Multifamily Finance 4% Contact
New York State Homes and Community Renewal
(212) 872-0537
MulifamilyFinance@nyshcr.org

Multifamily Finance 9% LIHTC RFP Contacts:

Darren Scott, Upstate Director of Development East
(518) 795-5016
darren.scott@nyshcr.org

Counties Served: Albany, Clinton, Columbia, Dutchess, Essex, Franklin, Fulton, Greene, Hamilton, Herkimer, Jefferson, Lewis, Montgomery, Orange, Oneida, Otsego, Putnam, Rensselaer, Saratoga, Schenectady, Schoharie, St. Lawrence, Sullivan, Ulster, Warren and Washington.

Leonard Skrill, Upstate Director of Development West
(518) 461-6591
leonard.skrill@nyshcr.org 

Counties Served: Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Cortland, Delaware, Erie, Genesee, Livingston, Madison, Monroe, Niagara, Onondaga, Ontario, Orleans, Oswego, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Wyoming and Yates.

Ross Karp, Downstate Development Director

(212) 872-0395

ross.karp@nyshcr.org 

Counties Served: Bronx, Kings, New York, Nassau, Queens, Richmond, Rockland , Suffolk, Westchester.

Last updated: 08/08/2024

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