The Real Deal New York

 
The city Department of Housing Preservation and Development announced the third notice of funding availability for affordable housing today, using revenues from the Battery Park City Authority (BPCA). The New York City Housing Trust Fund will distribute $22.6 million in BPCA funds to developers for the new construction or substantial rehabilitation of affordable housing. This is the third distribution of funding as part of Mayor Michael Bloomberg’s plan to build and preserve 165,000 units of affordable housing. During the past two years, the Housing Trust Fund distributed $49 million to developers to create 1,612 units of affordable housing, comprised of co-ops and rentals, from Greenpoint to the Bronx. TRD