Affordable Homeownership Opportunity Program
This program funds the creation and preservation of affordable, energy-efficient homeownership opportunities in New York State, emphasizing sustainable design and fair housing for underserved and first-time buyers.
Funder: Homes and Community Renewal
Due Dates: Rolling
Funding Amounts: Up to $200,000 per home (based on affordability tier); possible $20,000 bonus for energy efficiency; projects must be 5–100 units.
Summary: Supports the creation and preservation of affordable homeownership opportunities across New York State through project funding, technical assistance, and sustainability standards.
Key Information: Applicants must demonstrate homeownership development experience and include a HUD-certified counseling partner.
Description
This program, administered by New York State Homes and Community Renewal (HCR), funds the development and preservation of affordable homeownership opportunities statewide. It supports new construction, adaptive reuse, and conversion of multifamily rentals to limited equity cooperatives, with an emphasis on sustainable design and outreach to historically underserved populations. Funding is available for projects that meet rigorous design, sustainability, and fair housing standards, with a focus on increasing access to affordable, energy-efficient homes for first-time and low- to moderate-income buyers.
