Community Restoration Fund (City) (CRF)

The Community Restoration Fund Program was established by New York City’s Department of Housing Preservation and Development (HPD) and non-profit partners to facilitate the acquisition of distressed community assets from mortgage lenders and repositioning of these assets to preserve affordable homeownership and rental opportunities. Preserving City Neighborhoods administers the program.

The core goals of the program are to stabilize neighborhoods with high rates of foreclosure and distress, ensure positive outcomes for homeowners and residents, and maintain affordability and viability of housing stock across the City.

Program Information

• Alternative Names: Foreclosure Buy-Back Initiative
• Scale: Small Scale (between 1 and 999 units)
• Timeframe: 2015 - Present
• Occupancy Tenure: Homeownership
• Building Type: One- to Four-family
• Developer/Owners: Owner-occupant

More Resources

Related Programs: Community Restoration Fund (State)