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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 age-resticted housing for low-income seniors in NYS.

Tenant Eligibility Criteria

Low-income seniors, aged 62 and above. At least 85% of the units in the project must be affordable to households earning no more than 60% AMI. 

If the project is not using Project Based Vouchers, there must be two other income tiers ranging from 40% AMI - 60% AMI, so that all LIHTC units income average to 50% AMI.

Eligible Applicants

Amount

New York City and 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 with a household income limit of up to 60% AMI. 

Term

Minimum 30 year regulatory agreement.

Network Notes

For More Information

Read the Open Window RFP here and see the term sheet here.

Contact

NYS HCR
641 Lexington Avenue, 4th Floor
New York, NY 10022
MultifamilyFinance@nyshcr.org
(212) 688-4000

Last updated: 08/30/2019

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