The Green Housing Preservation Program (GHPP) provides low- or no-interest loans to finance energy efficiency and water conservation improvements, lead remediation, and moderate rehabilitation work. The program is designed to assist small- and mid-size building owners improve building conditions and lower operating expenses to ensure the long-term physical and financial health of their buildings and to preserve safe, affordable housing for low- and moderate-income New Yorkers. This program is most suitable for multi-family buildings under 50,000 SF with high utility usage or costs needing energy efficiency improvements and that may also require some other rehabilitation.
Buildings with at least 3 units and less than 50,000 square feet (approximately 50 units) that require energy efficiency and water conservation improvements. Project scopes of work must reduce a building's energy usage by at least 20%.
HPD can lend up to $50,000 per residential unit for all buildings requiring moderate rehabilitation work and up to $80,000 per residential unit for 3-15 units buildings requiring a more significant scope of work. If you need additional funds to complete the project, we will work with you to find private sources of funding at favorable terms. For more information on the loan terms, see the GHPP term sheets:
For owners that need assistance with paying for any pre-development costs associated with the loan closing (i.e. building assessment or IPNA, architect/engineer, environmental reports, legal fees, etc), HPD, in partnership with the New York City Energy Efficiency Corporation (NYCEEC), set up a pre-development loan fund that owners working with HPD can access. The loan application is quick to complete (3-page form) and funds will be deposited within 1-3 weeks of loan application submission. For more information and to apply, see the ‘Additional Resources’ section below.
In exchange for our assistance, participants enter into an affordability agreement with HPD.
Once you submit an application, our team will be in touch to further discuss the program and guide you through the application process