Release date: 3/13/2017
Submission deadline: 4/24/2017
HPD is currently reviewing submissions for the rehabilitation and management of multifamily residential properties through the agency's Third Party Transfer (TPT) Program, Multifamily Preservation Loan Program (MPLP), and Rental Special Project.
HPD expects to qualify more potential developers than available properties. Therefore, some qualified developers will not be selected. HPD reserves the right to negotiate with any number of qualified developers, accept or reject any or all applications received as a result of the RFQ, or postpone or cancel the RFQ in part or in its entirety.
HPD released the RFQ that seeks experienced non-profit and for-profit organizations to rehabilitate and manage occupied or vacant buildings. The RFQ is part of the City's larger effort to transfer ownership of City-owned and foreclosed properties back into the private sector and make more safe and affordable housing opportunities available for New Yorkers.
Under MPLP, HPD conveys and finances distressed City-owned properties to facilitate the rehabilitation and preservation as affordable housing. HPD selects Qualified Developers to purchase and rehabilitate distressed vacant and occupied multifamily properties in order to improve and preserve housing affordable to low and moderate income households. All MPLP Properties were subject to an in rem foreclosure action. The Qualified Developer will acquire the property from the City at the time of construction closing.
To learn more about TPT, MPLP and other HPD preservation programs, please visit the Preservation section of HPD’s Development Programs webpage.