New York City Housing Development Corporation
Finances affordable housing development and preservation in NYC.
Company facts
- Founded
- 1971
- Employees
- 198
- Headquarters
- United States
- Type
- Government
- Subsidiaries
- New York City Residential Mortgage Insurance Corporation (REMIC), Housing Assistance Corporation (HAC), Housing New York Corporation (HNYC), NYCHDC Real Estate Corp.
About
The New York City Housing Development Corporation (HDC) is a state-created agency that finances the creation and preservation of affordable housing for low-, moderate- and middle-income New Yorkers. It issues bonds, provides low-cost loans, and allocates direct subsidies to support a broad spectrum of residential projects—from large rental developments to small mixed-use and home-ownership ventures—contributing to neighborhood revitalization and economic growth. HDC’s statutory flexibility lets it adapt programs to shifting economic conditions, enabling it to remain the nation’s leading local housing-finance agency in terms of bond volume and dollar value. With over $1.8 billion in bonds issued and an equal amount in direct subsidies, HDC consistently outpaces major banks, underscoring its unique capacity to mobilize capital for affordable housing in New York City.