New York, New York — According to state and local economic development sources New York City Housing Development Corporation plans to build out 109,000 square feet of new space in New York. The company plans to occupy the new space at 120 Broadway in New York, on or about February 1, 2023. According to the company website HDC seeks to increase the supply of multi-family housing, stimulate economic growth and revitalize neighborhoods by financing the creation and preservation of affordable housing for low, moderate, and middle-income New Yorkers. In 1971, the New York State Legislature created the New York City Housing Development Corporation (HDC) as a supplementary and alternative means of supplying financing for affordable housing that was independent from the City’s capital budget. At first HDC concentrated on providing financing for large-scale rental developments but now issues bonds and provides subsidy and low-cost loans to develop and preserve a variety of housing, ranging from large to small and rental and homeownership. The flexibility built into HDCs authorizing statute allows it to amend its programs and goals in response to the changing economic climate. As a result, HDC has become the leading local housing finance agency in the nation, outperforming many of the nations largest banks in the volume and dollar amount of bonds issued. In the 2012 calendar year, HDC was ranked third nationally in Affordable Housing Finance magazines annual rating of the top issuers of multi-family bonds, having issued more than $1.8 billion in bonds; more than Bank of America Merrill Lynch, JP Morgan Chase and Capital One, among others.

To learn more about New York City Housing Development Corporation, visit http://www.nychdc.com/

Company Contact:
Eric Enderlin, President
https://www.linkedin.com/in/eric-enderlin-80501047/
212-227-5500

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