The mission of the Housing Partnership Development Corporation is to change neighborhoods for the better by providing low- to moderate-income workforce residents affordable housing opportunities.
The Housing Partnership does this as New York City's primary intermediary for the development of affordable workforce housing. For more than 25 years, the Housing Partnership has been the facilitator of dynamic partnerships between the City, State and private sectors to build affordable homes, stimulating economic growth revitalizing neighborhoods throughout New York City's five boroughs. Often referred to as the "one stop shop" for affordable housing, the Housing Partnership's professional staff works closely with our partners every step of the way to ensure that quality homes are built, financing is secured, and low- to moderate-income homeowners are satisfied and able to comfortable maintain their investments. Our goal is to produce 1,200 units of housing each year through a variety of new construction and other housing programs.
In our 25-year history, the Housing Partnership has participated in the development of more than 30,000 affordable homeownership and rental units throughout the five boroughs and leveraged more than $2.8 billion in private sector financing. We have an additional 4,000 units are in construction or predevelopment.
Housing Partnership homes bring substantial private investment and economic development into New York City neighborhoods where the need for affordable homeownership housing is great, where housing costs are soaring while incomes remain stagnant, and where thousands of working New Yorkers are shut out of the traditional housing market. The communities where we build become more desirable locations for national retailers and local entrepreneurs whose presence boosts local employment opportunities, attracts quality goods and services, and spurs additional private and business development.
HPDC is currently constructing homes in Harlem, Far Rockaway, Arverne, South Jamaica, the South Bronx, Central Brooklyn (Bedford Stuyvesant, Bushwick) and East New York. Most of the households served by HPDC earn between 80% and 130% of AMI. HPDC also participates in rental housing programs serving households with incomes as low as 50% of AMI.