Neighborhood Homes Program (NH)

The Neighborhood Homes (NH) program transferred occupied city-owned one- to four-family residential buildings to selected community-based sponsors for rehabilitation and eventual sale to owner-occupants. Non-profit sponsors received an evaporating loan from the New York City’s Department of Housing Preservation and Development (HPD) and a construction loan from the Local Initiatives Support Corporation (LISC), the Enterprise Foundation (now known as Enterprise Community Partners), or a conventional lender to rehabilitate the building. Tenants that lived in the building prior to the program had the opportunity to purchase program homes before non-tenants. To qualify for the purchase of the home, households must have demonstrated an ability to qualify for mortgage financing and be committed to residing in the renovated home for a minimum of 10 years.

Program Information

• Scale: Medium Scale (between 1,000 and 4,999 units)
• Timeframe: 1998 - 2008
• Occupancy Tenure: Homeownership
• Construction Type: Rehabilitation
• Building Type: One- to Four-family
• Developer/Owners: Non-profit, Government