Skip to Main Content

Homes and Community Renewal

Homeownership Development Financing Multifamily Development Financing Low Income Housing Tax Credit Program Multifamily Financing Applications Multifamily Owners & Property Managers Home Buyers Home Owners Renters Income Limits Lenders Servicers Home Builders Real Estate Agents SONYMA Advisory Council Municipalities/Non-Profits AHC Grantees Neighborhood Stabilization Program (NSP)

Multifamily Development Financing

HFA has adopted Mandatory Green Building Guidelines that explain the minimum green building standards for all HFA financed projects funded on or after June 1, 2017. Click here to view these guidelines.

Horizons at Fishkill was constructed with $6,975,000 in HFA financing, as well as HFA subsidy funds. The 107-unit, all-affordable apartment complex for seniors is located in Dutchess County.

The New York State Housing Finance Agency (HFA) offers financing to create and preserve affordable multifamily rental housing throughout the state. Developers can take advantage of several financing resources. These include agency-issued bonds-which can be tax-exempt, taxable or 501(c)(3) bonds-Low Income Housing Tax Credits; and subsidy loans.

HFA offers financing to encourage a wide range of affordable housing:

  • New construction of multifamily rental housing for affordable households of all ages. There are Federal income restrictions for eligible households, adjusted for family size. Multifamily housing can consist of projects made up of 100% affordable units or mixed-income projects.

  • Preservation and rehabilitation of existing affordable multifamily rental housing. Housing that was initially financed through federal and/or state programs, such as federal Section 8, Section 236, Section 202 and Low Income Housing Tax Credit programs, are eligible.