HPD’s Mixed Income Program: Mix & Match funds the new construction of mixed income multi-family rental projects in which 50% of the units are at low income rents affordable to households earning up to 60% of Area Median Income (AMI) and the other 50% of units would have rents affordable to moderate and/or middle income households earning up to 130% of AMI. Projects may have a range of affordability tiers.
In order to be eligible for Capital funds, it is required that a borrower be a Housing Development Fund Corporation either alone or in partnership with for-profit developers, limited partnerships, corporations, trusts, joint ventures, or limited liability companies. The development team for the project must have demonstrated a track record in successfully developing, marketing, and managing the type of facility proposed or must form a joint venture with an entity with such expertise. Borrowers must demonstrate sufficient financial stability and liquidity to construct and operate the project.
Multifamily New Construction Programs
100 Gold Street, Room 9I-5