Alliance for Neighborhood Commerce, Homeownership, and Revitalization (ANCHOR)

The Alliance for Neighborhood Commerce, Homeownership, and Revitalization program (ANCHOR) is a neighborhood revitalization initiative that has created over 300,000 square feet of new commercial and retail space and over 1,000 units of middle-income housing on vacant city-owned land. ANCHOR uses a combination of federal, state, city, and private funds to finance new retail space along targeted commercial corridors. The New York City Department of Housing Preservation and Development (HPD) worked with commercial banks, developers, and community-based organizations to sell and redevelop vacant city-owned land, attract commercial businesses, and create employment opportunities in underserved areas. ANCHOR helped financed projects in several commercial corridors and sites that could accommodate commercial, retail, or mixed-use buildings, including: Bronx Community Districts 1, 3, and 6; Brooklyn Community Districts 3, 4, 13, and 16; and Manhattan Community District 10.

Program Information

• Scale: Medium Scale (between 1,000 and 4,999 units)
• Timeframe: Started 2001
• Occupancy Tenure: Rental
• Construction Type: New Construction
• Building Type: Multi-family
• Developer/Owners: Non-profit, For-profit, Government
• Geographic Restrictions: Bronx, Community Districts 1, 3, & 6; Brooklyn, Community Districts 3, 4, 13, & 16; and Manhattan, Community District 10
• Income: Middle-income