The New York City Department of Housing Preservation and Development (HPD) has reserved $13.6 million in low-income housing tax credits to seven developments for the creation or preservation of 583 affordable homes across the city.

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The tax credits will raise nearly $133 million in equity to be used for the construction on these projects with the vast majority of homes serving low-income New Yorkers. The awards benefiting six new construction projects and one preservation project will support two supportive housing developments, two senior developments, and 189 homes for formerly homeless tenants, announced the agency.

The recipients of the LIHTC awards for 2020 are:

Brooklyn

HELP ONE Building B. This new construction supportive housing project will be developed by H.E.L.P. Development Corp. Of the 71 new homes, 43 are designated for formerly homeless tenants.

Rheingold Senior Residences. This new construction senior housing project will be developed by Los Sures / Southside United HDFC. Of the 94 new homes, 15 are designated for formerly homeless tenants.

Queens

Federation Nameoke Apartments. This new construction supportive housing project will be developed by the Federation of Organizations for the NYS Mentally Disabled. Of the 117 new homes, 71 will be designated for formerly homeless tenants.

TQN1003 1415 Mott Avenue. This preservation project will be developed by Metropolitan Real Estate Development. Of the 42 new homes, nine are designated for formerly homeless tenants. The award will support physical building rehabilitation to improve conditions for existing and new low-income tenants.

Bronx

Betances VI. This new construction project will be developed by a partnership consisting of Lemle & Wolff Development, Alembic Development, and The Bridge. Of the 101 new homes, 30 are designated for formerly homeless tenants.

Marion Creston Apartments. This new construction project will be developed by NFW Marion. Of the 43 new homes, 13 are designated for formerly homeless tenants. The majority of units are for low-income residents.

Manhattan

Norfolk Street Senior. This new construction senior housing project will be developed by Gotham Real Estate Developers. Of the 115 new homes, 18 are designated for formerly homeless tenants.

Consistent with the city’s commitment to allocate resources to the most vulnerable households, fiscal 2021 allocations were made to two projects awarded in prior funding rounds, the Concern Pitkin Avenue supportive housing development and 811 Lexington Senior Residence. The city also utilized federal authority to extend the construction timeline on tax credit-benefiting projects allocated 2018 and 2019 credits that experienced COVID-19 forced delays.