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New York City Establishes Affordable Housing Fund With $2M Grant From Wells Fargo Foundation – Press Releases On

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The New York City Department of Housing Preservation and Development (HPD) and New York City Housing Development Corporation (HDC) announced today the City’s Neighborhood Pillars Program with a $2 million commitment from the Wells Fargo Foundation. As part of Housing New York 2.0, the mayor’s plan to finance 300,000 affordable homes by 2026, the Neighborhood Pillars Program will help finance acquisition and rehabilitation of existing rent-stabilized and unregulated buildings to preserve affordability in neighborhoods across the city. “Through our new Neighborhood Pillars Program, we’re giving community-based organizations the tools they need to compete in a fast-changing market,” said HPD Commissioner Maria Torres-Springer.

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