New York is accepting proposals for nearly $270 million in tax credits and subsidies intended to create or preserve about 1,800 affordable apartments across the state.
The competitive funding round includes up to $58 million in federal low-income housing tax credits, $10 million in state tax credits and more than $200 million in capital subsidy loans administered by New York State Homes and Community Renewal.
Applications are due Sept. 10, 2026. Eligible proposals include multifamily developments seeking financing through several state housing programs, including initiatives supporting rural housing, supportive housing, middle-income projects and preservation work.
Applicants must complete a technical assistance session with Homes and Community Renewal within 12 months of the deadline. The agency said an updated presentation explaining the request for proposals would be available by July 16.
Gov. Kathy Hochul's office said the awards are part of the state's five-year, $25 billion housing plan, which set a goal of creating or preserving 100,000 affordable homes, including 10,000 with support services for vulnerable residents.
The administration said more than 81,000 homes have been created or preserved under the plan so far. Projects selected in the new round will be evaluated through the agency's multifamily finance process.
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