HCR Multifamily Finance 9% LIHTC Request for Proposals
Forecasted
HCR Multifamily Finance 9% LIHTC Request for Proposals supports housing developers with construction, rehabilitation, and adaptive reuse financing to create or preserve affordable rental homes across New York.
Funder: Homes and Community Renewal
Due Dates (Anticipated): July 2027 (Technical Assistance dropbox) | July 2027 (Application dropbox) | August 2027 (Pre-application materials and fee deferral) | August 2027 (Design waivers) | September 2027 (Applications)
Funding Amounts: Published anticipated program allocations range from $1 million to $65 million across 13 financing sources.
Summary: Financing for new construction, rehabilitation, and adaptive reuse that creates or preserves affordable multifamily housing throughout New York State.
Key Information: This RFP does not apply to projects proposing tax-exempt bond financing.
Description
New York State Homes and Community Renewal (HCR) administers this RFP to create and preserve high-quality affordable housing statewide. It supports site-specific multifamily rental housing through new construction, rehabilitation, and adaptive reuse, as well as stand-alone non-residential buildings. The financing combines federal and state low-income housing tax credits with housing and community investment programs.
The RFP advances New York State’s $25 billion, five-year Housing Plan to create or preserve 100,000 affordable homes, including 10,000 homes with support services. Priorities include community renewal, integrated supportive housing, well-resourced areas, transit-oriented development, senior housing, and state revitalization and economic development initiatives. HCR also considers affordability, accessibility, sustainability, project readiness, development-team capacity, and cost effectiveness.
