HPD on Mitchell-Lama portfolio at a crossroads

We have seen thousands of New Yorkers build their lives in these affordable co-ops and rentals.

Although the program was originally designed to house middle-income families, over time, Mitchell-Lamas came to offer New Yorkers at a range of incomes a chance to find stability in neighborhoods they love, giving them an affordable place to pursue their ambitions,

raise their families, and age in place successfully.

We are deeply committed to ensuring the affordability and physical condition of this stock for decades to come.

While the Mitchell-Lama program has been incredibly successful at providing affordable housing to families across a broad range of incomes, it now sits at a crossroads.

The portfolio faces rising operating costs, significant capital improvement needs, and uneven rental or maintenance fee income streams.

We'll discuss each of these concerns in more detail and provide a path to stabilize the program for the years to come.