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Senior Housing Program is sponsored by New York State Homes and Community Renewal (HCR). Provides capital funding for site acquisition, hard costs, and related soft costs to create housing for low-income seniors (aged 62 and above) in New York State. Projects with at least 10% of income-restricted units up to 30% AMI are a priority.
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NYS HCR Senior Housing Program | Funding Guide | Supportive Housing Network of New York NYS HCR Senior Housing Program The Senior Housing Program provides capital funding for site acquisition, hard costs, and related soft costs to create housing for low-income seniors in New York State. It is available through both the Multifamily Finance 9% LIHTC RFP and the Multifamily Finance 4% program .
Tenant Eligibility Criteria Low-income seniors, aged 62 and above. AMI restrictions: Up to 60% AMI or up to 80% AMI if utilizing Income Averaging. Projects with at least 10% of income-restricted units up to 30% AMI are a priority.
Nonprofit or for-profit developers with experience developing, marketing, owning and managing housing for low income seniors. New York City and Rockland, Westchester, Nassau & Suffolk Counties: Up to $140,000 per housing unit with a household income limit of up to 60% AMI. Projects leveraging funds from the City of New York can receive up to $70,000 per residential unit.
Rest of State: Up to $95,000 per housing unit. Minimum 40-year regulatory agreement , maximum of 50 years. Per the Fall 2024 HCR Multifamily Finance 9% LIHTC RFP, the anticipated funding for this program is $20 million.
An additional $4 million is available for LGBTQ+ affirming Low-income seniors , Along with financing application, developers must submit service plan narrative.
Developers seeking funding for a housing development that intends to restrict tenancy based on age (e.g., “senior housing” projects or supportive units serving “frail elderly”), shall provide HCR with proof the project has obtained an exemption from the New York State Division of Human Rights (“DHR”) in accordance with N. Y. Exec.
Law § 296-2a(e). Senior Housing Funds may not be used with SHOP, HTF or PHP. Projects must be unlicensed Senior Housing only.
See the Senior Housing Program term sheet, which is the same document for both the Multifamily Finance 9% LIHTC RFP here And the Multifamily Finance 4% program, here . Multifamily Finance 4% Contact New York State Homes and Community Renewal MulifamilyFinance@nyshcr.
org Multifamily Finance 9% LIHTC RFP Contacts: Darren Scott, Upstate Director of Development East Counties Served: Albany, Clinton, Columbia, Dutchess, Essex, Franklin, Fulton, Greene, Hamilton, Herkimer, Jefferson, Lewis, Montgomery, Orange, Oneida, Otsego, Putnam, Rensselaer, Saratoga, Schenectady, Schoharie, St. Lawrence, Sullivan, Ulster, Warren and Washington. Leonard Skrill, Upstate Director of Development West leonard.
skrill@nyshcr. org Counties Served: Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Cortland, Delaware, Erie, Genesee, Livingston, Madison, Monroe, Niagara, Onondaga, Ontario, Orleans, Oswego, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Wyoming and Yates. Ross Karp, Downstate Development Director Counties Served: Bronx, Kings, New York, Nassau, Queens, Richmond, Rockland , Suffolk, Westchester.
According to the current listing, eligibility includes: Nonprofit or for-profit developers with experience developing, marketing, owning and managing housing for low-income seniors. Confirm the full requirements in the official notice before applying.
The current listing shows up to $140,000 per housing unit (NYC, Rockland, Westchester, Nassau & Suffolk Counties); Up to $95,000 per housing unit (Rest of State). Verify award ceilings, matching requirements, and allowable costs in the official notice.
Senior Housing Program is funded by New York State Homes and Community Renewal (HCR). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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