HCR Multifamily Finance 9% LIHTC RFP
Forecasted
HCR Multifamily Finance 9% LIHTC RFP supports housing developers with financing for construction, rehabilitation, and adaptive reuse to create or preserve affordable homes across New York State.
Funder: Homes and Community Renewal
Due Dates (Anticipated): July 2027 (Dropbox requests) | August 2027 (Extended Dropbox deadline, assistance materials, fee deferrals, design waivers) | September 2027 (Applications)
Funding Amounts: Prior round: $58 million in 9% LIHTC plus other tax credits and housing financing
Summary: Financing for construction, rehabilitation, and adaptive reuse that creates or preserves affordable housing throughout New York State.
Key Information: Applicants must attend project-specific HCR Technical Assistance within 12 months before submission.
Description
New York State Homes and Community Renewal (HCR) issues this annual competitive RFP for site-specific multifamily rental housing and standalone non-residential buildings. It combines 9% Low-Income Housing Tax Credits with other tax credits and subsidy programs for new construction, rehabilitation, and adaptive reuse. The program advances New York’s $25 billion, five-year Housing Plan to create or preserve 100,000 affordable homes, including 10,000 with support services.
Projects must advance at least one State Housing Goal: community renewal and revitalization, integrated supportive housing, well-resourced areas, transit-oriented development, State revitalization and economic development initiatives, senior housing, public housing redevelopment, or preservation. Financing also addresses middle-income housing, LGBTQ+ affirming senior housing, clean energy, and multifamily solar.
