HDC 2024 Closings | Ilse Hoffman House

From Our President

Resident Voices

Ilse Hoffman House

New Construction

Morris Heights

1760 Jerome Avenue

174

homes

Program

ELLA

HDC’s New Construction term sheet facilitates the development of affordable housing, primarily for households earning up to 80% of New York City’s AMI. Within New Construction, the ELLA (Extremely Low & Low-Income Affordabilty) program ensures that 70-100% of the units financed are deeply affordable, made possible through the LIHTC program. Financing employs tax-exempt bonds, 4% tax credits, and Corporate reserves, with all projects subject to rent-restricting regulatory agreements.

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Image: Urban Architectural Initiatives, RA

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