the new and the old, new again
development: Since its inception in 1987, HSI has added more than 2,000 apartments in over 17 projects throughout New York City, leveraging $200 million dollars in public and private financing for itself and other nonprofits to serve those most in need, including: children aging out of foster care, the severely persistently mentally ill, very low income seniors, ex-offenders, people struggling with chemical dependency, the physically and developmentally disabled, veterans, people living with HIV/AIDS and the dually diagnosed.
See more about these collaborations that created new units to the affordable housing stock in NYC at in partnership.
preservation: HSI’s preservation initiatives began in 2005 with our technical assistance to Lafayette Morrison tenant association for the $100 million purchase of 1,865 rental units in the South Bronx for conversion into affordable home-ownership co-ops as they existed out of the Mitchell Lama Program.
HSI's next conservation efforts would be closer to home, with our recent completed building rehabilitation projects at the historic Cecil and Narragansett, both done with tenants in place. The projects were awarded $16.4 million by the NYC Department of Housing Preservation & Development (HPD) through its Supportive Housing Loan Program (SHLP) to fund the construction, guaranteeing their continued service for low-income and special need populations for years to come.
Learn more about these initiatives which prevented the loss of units in the future by investing in the past, making the old new again at preservation.