Darryl C. Towns, Commissioner/CEO of
NYS Homes and Community Renewal
In 2011, Darryl C. Towns was appointed by Governor Andrew M. Cuomo to lead NYS Homes and Community Renewal (HCR) as Commissioner/CEO. HCR includes all the state’s integrated housing and community renewal agencies and programs, and implements the Governor’s bold housing and community renewal agenda.
As the Commissioner of the State’s integrated housing and community renewal agencies and programs, Mr. Towns’ is charged with the application and execution of the Governor’s new House NY Program, an unprecedented $1 billion investment over the next five years to create and preserve more than 14,000 housing units. This is the largest state investment in affordable housing in nearly two decades and augments HCR’s annual base funding to administer more than $1.5 billion to expand affordable housing opportunities and build strong communities. Additionally, HCR soundly manages a portfolio of more than 190,000 multifamily units.
In 2012, with Co-op City in the Bronx, the largest Mitchell-Lama development in the state, set to exit the program, HCR joined with HUD and New York City in guaranteeing a $621 million refinanced loan. The loan will pay for renovations and will also preserve affordability for 35 years, averting the projected loss of affordable housing for 60,000 residents. The Co-op City refinancing will serve as a model for many of the refinancings that are expected to be undertaken as part of House NY, through which HCR is acquiring 8,600 Mitchell-Lama units transferred from Empire State Development Corporation’s (ESD) housing portfolio.
Commissioner Towns also serves as the Chair of the Roosevelt Island Operation Corporation’s (RIOC) Board of Directors.
Prior to his appointment, Commissioner/CEO Towns served in the NYS Assembly for 18 years, where he chaired the Banking Committee as well as the Black, Puerto Rican, Hispanic & Asian Legislative Caucus.
Towns is a graduate of North Carolina Agricultural and Technical State University and a veteran of the U.S. Air Force. He is the son of former Congressman Edolphus "Ed" Towns and lives in Brooklyn with his wife, Karen Boykin-Towns, and their daughters, Jasmine and Trinity.
Last Updated: 12/09/2013