Update
LETTER FROM THE PRESIDENT & CEO
The Housing Partnership Enters the Next 40 Years in Creating Affordable Housing Opportunities
Jamie A. Smarr, Housing Partnership President & CEO
Dear Friends and Partners,
Last year marked the 40th Anniversary of the Housing Partnership, founded in 1983 as the result of the efforts of two great New Yorkers, David Rockefeller and Mayor Edward Koch. They sought to revitalize New York City’s neighborhoods and create housing affordability in every borough of the city. Now, more than 80,000 affordable housing units and 40 years later, we continue to build upon their civic leadership to bring affordable housing opportunities to New Yorkers.
But as every investment prospectus warns, past results are not indicative of future success. In 2024, New Yorkers are as challenged to find housing affordability as ever. Therefore, to remain true to our mission to serve New Yorkers, the Housing Partnership cannot rest on its accomplishments. It must continue to refine its housing strategies and initiatives to achieve greater success. It must always keep its approaches aligned with the City and the State housing leadership, and it must consistently advocate for public policies that promote efficient and productive public-private partnerships that result in increased affordable housing opportunities. As we develop strategies to shape the Housing Partnership’s future these will be our guiding principles. With such tremendous housing need in New York, the Housing Partnership must be as creative, agile and vigorous about its work as ever.
Housing creates economic opportunity and promotes stable and thriving neighborhoods. The Housing Partnership’s staff continually remind ourselves of the fundamental connections between housing and New York’s future growth and success in everything we do. Please join me in reviewing some of the achievements we recorded in 2023. May the Housing Partnership enjoy another 40 years proudly serving New Yorkers and helping the city to thrive.
Housing Partnership
2023 Achievements
NEW DEVELOPMENTS
21
affordable housing projects closed, with over
$1.257B
in total development costs, with
9,857
affordable units created or preserved, for approximately
17,000
New Yorkers housed in new and preserved affordable housing.
CREATING OPPORTUNITY
499
New Yorkers placed in housing where the housing cost will never exceed 35% of their income.
299
housing units leased or sold across 27 different projects.
1,000+
New Yorkers served at our first ever Affordable Housing Expo in Midtown.
HOMEOWNERSHIP COUNSELING
1,178
graduates from the Housing Partnership’s HUD-certified First Time Homebuyers Counseling Program, with
57.6%
representing Black, Indigenous, and People of Color (BIPOC) households.
$4.3M
leveraged in Down Payment & Closing Costs Assistance Programs for
441
newly created homeowners.
Rendering of Sherman Creek North Cove, a 611-unit mixed income/use development in Inwood, Manhattan.
DEVELOPMENT UPDATE
Sherman Creek North Cove: Among the Largest Mixed Income Affordable Rental Communities in Manhattan
The Housing Partnership joined with long time partners Joy Construction and Maddd Equities in the development of Sherman Creek North Cove, one of the largest 100% affordable mixed income rental communities in Manhattan…
Rendering of 816 Herkimer St. in Bedford-Stuyvesant, Brooklyn.
DEVELOPMENT UPDATE
Rochester Suydam Phase II: 32 Affordable Co-op Units in Bedford Stuyvesant
Smaller housing projects must continue to be an important component of affordable housing development throughout New York. Their positive impact on communities is amplifed by utilizing parcels too small for larger multifamily affordable projects…
SUSTAINABILITY UPDATE
Community Solar with Fifth Avenue Committee
HP Sustainability Solutions partnered with the Fifth Avenue Committee (FAC) to build off of the success of FAC’s Barrio Solar Program, in which FAC provides grants to low-income single-family homeowners in New York City to close the financing gap and expand solar access into low- income communities…
BOARD UPDATE
Ron Moelis Elected Board Chairman of the Housing Partnership
Ron Moelis has been elected Chairman of the Board of Directors of the NYC Housing Partnership. Mr. Moelis is the Chairman and co-founder of L+M Development Partners LLC, a leader in developing affordable, mixed-income and market rate housing…
STAFF UPDATE
Debbra McAllister Joins the Housing Partnership as Vice President
Debbra McAllister has been named a vice president of the NYC Housing Partnership. She joins the Housing Partnership from the NYC Department of Citywide Administrative Services (NYCDCAS) where she served as Director of Acquisitions…
HP President & CEO Jamie Smarr (left), with NYC HPD Commissioner Adolfo Carrión, Jr. presents Eric Bluestone (right) of the Bluestone Organization with a Founding Partners award.
EVENT UPDATE
Housing Partnership’s 2023 Wine and Jazz Fall Benefit Drew Affordable Housing Community
The Housing Partnership’s 40th Anniversary Wine & Jazz Fall Benefit 2023 at midtown Manhattan’s Refinery Roof Top on November 2 was packed with over 150 participants in New York’s affordable housing community…
EVENT UPDATE
Save the Dates: Housing Partnership 2024 Special Events
Housing Partnership’s 41st Anniversary
Luncheon Celebration
Sparking Innovative Affordable Housing Solutions
Wednesday, October 23, 2024
Gotham Hall
1356 Broadway (at 36th Street)
New York, NY 10018
For details on sponsorship opportunities, please call (646)217-3373 or email pbabb@housingpartnership.com.
Housing Partnership’s 2nd Annual
Affordable Housing Expo 2024
Showcasing affordable homeownership and rental housing opportunities
Saturday, June 22, 2024
Free and Open to the Public
The Graduate Center, CUNY
365 5th Avenue (at 34th Street)
New York, NY 10016
For information on reserving exhibit space and sponsorship opportunities, call (646)217-3392 or email emcintosh@housingpartnership.com.
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