This Request for Qualifications is designed to create a roster of qualified organizations to rehabilitate and manage multifamily buildings through HPD’s Third Party Transfer Program, Multifamily Preservation Loan Program, and Special Rental Projects Program.
New York, NY – (RealEstateRama) — New York City Department of Housing Preservation and Development (HPD) Commissioner Maria Torres-Springer today announced the issuance of a Request for Qualifications (RFQ) that seeks experienced non-profit and for-profit organizations to rehabilitate and manage occupied or vacant buildings. This RFQ is a part of the City’s larger effort to transfer ownership of city-owned and foreclosed properties back into the private sector and make more safe and affordable housing opportunities available for New Yorkers.
“Qualified sponsors are vital to the rehabilitation of hundreds of homes in these portfolios. We hope to receive a large number of responses to this RFQ to help preserve this very important housing stock and ensure affordability for thousands of families,” said HPD Commissioner Maria Torres-Springer.
The release of this RFQ helps to advance the goals of the Mayor’s Housing New York: A Five-Borough, Ten-Year Plan by infusing additional resources into the preservation of quality, affordable housing in New York City neighborhoods. Through the Request for Qualifications (RFQ) released today, HPD seeks to attract a diverse group of sponsors to acquire, rehabilitate, and manage multifamily buildings. Eligible respondents will be placed on a pre-qualified list for HPD’s Third Party Transfer (TPT) and Multi-family Preservation Loan Programs (MPLP).
The City of New York enacted legislation in 1996 to improve real estate tax collection while effectively preserving and maintaining the City’s residential housing stock. The legislation allows the City to transfer title of tax delinquent residential properties subject to foreclosure from the delinquent owners to Neighborhood Restore Housing Development Fund Corporation, a not-for-profit organization that works in collaboration with HPD in overseeing the management and rehabilitation planning of TPT properties. Through the TPT program, qualified developers acquire the properties from Neighborhood Restore. The new owners will then receive financing assistance to rehabilitate the properties and maintain affordability.
Under MPLP, HPD conveys and finances distressed City-owned properties to facilitate the rehabilitation and preservation as affordable housing. HPD selects Qualified Developers to purchase and rehabilitate distressed vacant and occupied multifamily properties in order to improve and preserve housing affordable to low and moderate income households. All MPLP Properties were subject to an in rem foreclosure action. The Qualified Developer will acquire the property from the City at the time of construction closing.
To learn more about TPT, MPLP and other HPD preservation programs, please visit the Preservation section of HPD’s Development Programs webpage.
This RFQ is open to not-for-profit entities that have the experience and organizational capacity to successfully rehabilitate and manage affordable housing buildings. More information regarding the RFQ can be found on HPD’s website. Prospective respondents may submit questions via email to TPTRFQ (at) hpd.nyc (dot) gov.
The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class. For more information visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us on Facebook, Twitter, and Instagram @NYCHousing.
CONTACT: Juliet Pierre-Antoine (HPD), (212) 863-5682