Earlier this week CSH, in partnership with Hudson Housing Capital and Nixon Peabody, hosted a discussion centered on financing affordable and supportive housing development in New York City. Joined by representatives from New York City and State agencies, the group discussed how their resources can work and are working together in this current environment of blended financing.
Panelists discussed key highlights of what developers should know about using their capital now. All stressed the importance of approaching them as early as possible in the predevelopment phase to discuss mixed affordable and supportive housing projects. Of note, the agencies discussed their increased cross-agency communication and collaboration on shared pipeline projects, breaking down previous silos in financing affordable and supportive housing.
Medicaid Redesign Team (MRT) financing was highlighted as an important new source in this new era of layering multiple funding sources and hopefully is a resource that will continue to grow. HDC noted the increase of supportive housing deals in their pipeline over the past two years while HPD and HDC are both looking into different financing structures that rely less on the scarce Section 8 vouchers, including creative shelter financing structures.
On behalf of our partners, we'd like to thank the following panelists, pictured above:
Brett Hebner, NYS Homeless Housing and Assistance Program
Jessica Katz, NYC Department of Housing Preservation & Development
Gary D. Rodney, NYC Housing Development Corporation
Jim Lupoli , NYS Office of Mental Health
Marian Zucker, NYS Homes & Community Renewal
For more details on resources that CSH can provide for affordable and supportive housing development in New York City, please reach out to Jennifer Trepinski, CSH Loan Officer for New York.