Latest News

Mar 15 2019

Affordable Housing Lottery in East Flatbush

The Real Deal reports that developer Aview Builders is building a new development in the East Flatbush neighborhood of Brooklyn. The location of the project is 824 East New York Avenue. The project is in the middle of construction. Aview Builders plans to build a 66,375-square-foot building with a total of 64 units. Aview Builders are seeking 421A tax abatement, therefore, they have assigned 30% of the units of the building to New York’s Affordable Housing...

Sep 07 2018

30% Affordable Housing in Brookfields First Bronx Development

The Real Deal reports that Brookfield Property Partners plans to build a new development in the Bronx....

Aug 20 2018

Problems in Finding Tenants for Affordable Apartments

Thousands of applicants apply for an extremely limited number of stabilized affordable units and often...

Aug 20 2018

Developers Rely on 421a to Finance Rental Construction

Ever since the city revived the 421a program, many criticized the program for creating burdens on tax...

Aug 20 2018

New 421a 101: What You Need to Know

Understanding Affordable New York, the new 421a tax break program, is no easy task, here is a quick checklist...

Aug 20 2018

Tenant Friendly Housing Lottery Guidelines

HPD recently published new affordable housing lottery guideline demonstrating tenant friendly changes...

Aug 20 2018

Affordable New York: the New 421a Program

New York State is using part of its $163 billion budget to revive the 421a tax abatement program two...

Aug 20 2018

421a Affordable Housing Income Requirements

Income requirement is one of the most basic and important qualification determining applicant’s...

Aug 17 2018

More Affordable Housing Preserved in the City

The city continues to demonstrate its efforts in preserving affordability on New York City apartments....

Aug 20 2018

Credit Score Impact on Affordable Housing Applicants

Starting July 1st 2018, poor credit score and financial history will have less influence on applicant’s eligibility of affordable housing. The previous process for affordable housing applications was quite laborious for housing project owners and applicants. Upon request, applicants need to provide pay stubs, tax returns bank statement and any other documentation required to understand years of financial, housing and employment information. Since it takes...