Update

LETTER FROM THE PRESIDENT & CEO

Housing Partnership’s New Asset Management/Housing Stability Unit and the Pathways to Home Ownership Program Strategically Build on a 43-Year Legacy

Jamie A. Smarr, Housing Partnership President & CEO

Dear Friends and Partners,

The Housing Partnership took significant steps in 2025 to ensure we are well positioned to increase our impact and broaden our mission, building on our 43-year legacy of expanding New Yorkers’ access to affordable homeownership and rental opportunities.

Last year we began implementation of a strategic plan designed, in full collaboration with our City and State housing agencies, to meet the challenges of the current economic climate to the crucial task of developing and preserving workforce housing in the five boroughs.

Foremost among the innovations we are rolling out is the Housing Partnership’s new Asset Management/Housing Stability Unit. As detailed elsewhere in this Update, our new line of business will work with all participants in the City’s affordable housing community to strengthen asset management capabilities in the face of heightened financial stress as regulated rents fall behind rising operating costs. We expanded the Housing Partnership’s C-Suite with Malcolm McGregor joining our team as Chief Asset Management Officer to lead the new business unit. Malcolm is an accomplished housing finance and policy expert.

Last year we committed to expanding our Home Ownership Counseling programs to enable more New Yorkers to achieve the dream of owning a home with a new “Pathways to Homeownership” to help gig workers–including delivery drivers, writers and musicians, freelancers, and other independent workers–buy their first home, not easily achieved by those with non-traditional sources of income. This Housing Partnership program is funded by a generous grant from Airbnb. It helps gig workers qualify as a first-time homebuyer through tailored workshops and one-on-one counseling to help document their employment income required for mortgage approval, as well as access to city, state and private down payment assistance up to $100,000 or more.

We look forward to creatively collaborating with the new City administration. Our core mission continues to create housing that grows economic opportunity and promotes stable and thriving New York neighborhoods. We’ve expanded it to encourage first time home ownership, which is especially important to Black and Latino New Yorkers as a major factor in stabilizing communities and creating intergenerational wealth.  New York City’s strength stretches beyond Midtown Manhattan and Wall Street, and extends to every neighborhood of the city, via stable homeownership and rental opportunities.

Thank you for your support.