HDC seeks to increase the supply of multi-family housing, stimulate economic growth and revitalize neighborhoods by financing the creation and preservation of affordable housing for low- , moderate- , and middle-income New Yorkers. In 1971, the New York State Legislature created the New York City Housing Development Corporation (HDC) as a supplementary and alternative means of supplying financing for affordable housing that was independent from the City's capital budget. At first HDC concentrated on providing financing for large-scale rental developments but now issues bonds and provides subsidy and low-cost loans to develop and preserve a variety of housing, ranging from large to small and rental and homeownership. The flexibility built into HDC’s authorizing statute allows it to amend its programs and goals in response to the changing economic climate. As a result, HDC has become the leading local housing finance agency in the nation, outperforming many of the nation’s largest banks in the volume and dollar amount of bonds issued. In the 2012 calendar year, HDC was ranked third nationally in Affordable Housing Finance magazine’s annual rating of the top issuers of multi-family bonds, having issued more than $1.8 billion in bonds; more than Bank of America Merrill Lynch, JP Morgan Chase and Capital One, among others. In addition, HDC has devoted more than $1.8 billion in direct subsidy from its corporate reserves to deepen affordability of the residential developments it supports. For more information on the projects and programs we support, please visit our Press Room.
View Top Employees from New York City Housing Development CorporationWebsite | http://www.nychdc.com |
Revenue | $23.5 million |
Employees | 261 (171 on RocketReach) |
Founded | 1971 |
Address | 120 Broadway 2nd Floor, New York, New York 10271, US |
Phone | (212) 227-5500 |
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Industry | Banking, Charitable Organizations & Foundations, Financing Affordable Housing in New York City, Organizations |
Web Rank | 279525 |
Web Visits | 177220 |
Keywords | Affordable Housing, Non Profit, Housing, Community Revitalization, Multi Family Homes, Low Income Housing, Moderate Income Housing, Rental, Homeownership |
Competitors | Community Corporation of Santa Monica, Kentucky Housing Corporation, Missouri Housing Development Commission, Ohio Housing Finance Agency, Oklahoma Housing Finance Agency (OHFA) |
SIC | SIC Code 86 Companies, SIC Code 95 Companies |
NAICS | NAICS Code 623 Companies, NAICS Code 6242 Companies, NAICS Code 62 Companies, NAICS Code 62331 Companies, NAICS Code 6233 Companies, NAICS Code 623312 Companies, NAICS Code 624 Companies |
Looking for a particular New York City Housing Development Corporation employee's phone or email?
The New York City Housing Development Corporation annual revenue was $23.5 million in 2024.
Eric Enderlin is the President of New York City Housing Development Corporation.
171 people are employed at New York City Housing Development Corporation.
New York City Housing Development Corporation is based in New York, New York.
The NAICS codes for New York City Housing Development Corporation are [623, 6242, 62, 62331, 6233, 623312, 624].
The SIC codes for New York City Housing Development Corporation are [86, 95].