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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. AMI restrictions: Up to 60% AMI or up to 80% AMI if utilizing Income Averaging. 

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 Fall 2020 HCR Multifamily Finance RFP here

Contact

Eastern New York Regional Office
Hampton Plaza, 38-40 State Street, 6th Floor
Albany, New York, 12207
Darren Scott, Upstate Development Director East: (518) 795-5016

Darren.scott@nyshcr.org

Western & Central New York Regional Office
535 Washington Avenue, Suite 105
Buffalo, New York 14203
Leonard Skrill, Upstate Development Director West and Downstate:  (518) 461-6591

Leonard.skrill@nyshcr.org

Last updated: 11/20/2020

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