embracing the past, building the future
Since its establishment in 1987, HSI has been at the forefront of developing more than 2,000 apartments across 17 projects in New York City. This endeavor required the acquisition of substantial funding totaling $200 million from both public and private sources. Our mission is to provide support to underserved populations, including those in transition from foster care, individuals with persistent mental health concerns, economically disadvantaged seniors, formerly incarcerated individuals, people with substance use dependency, those with physical and developmental disabilities, veterans, individuals living with HIV/AIDS, and those with multiple barriers to their health and housing stability.
Discover more about these transformative collaborations that have expanded New York City's affordable housing stock through our enduring partnerships.
HSI's commitment to preservation dates back to 2005 when we provided crucial technical assistance to the Lafayette Morrison tenant association. This support enabled them to secure a $100 million purchase of 1,865 rental units in the South Bronx. These units were then converted into affordable home-ownership co-ops as they transitioned out of the Mitchell Lama Program.
Our focus then turned to our own housing portfolio, with rehabilitation projects at the historic Cecil and Narragansett buildings. These initiatives, carried out with tenants in place, received $16.4 million in funding from the NYC Department of Housing Preservation & Development (HPD) through its Supportive Housing Loan Program (SHLP).
Explore further about these initiatives, where we've invested in the past to prevent the loss of housing units in the future, effectively breathing new life into the old, at our preservation page.