New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.
HCR develops, preserves and protects affordable housing and invests in economically vibrant communities. We work with many private, public and nonprofit partners to create safe, healthy and affordable housing opportunities for all New Yorkers.
HCR is charged with carrying out Governor Hochul’s new $25 billion, five-year, comprehensive housing plan to increase housing supply by creating or preserving 100,000 affordable homes across New York including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.
- Multifamily Housing
Financing the new construction and preservation of affordable multifamily rental housing using tax-exempt and taxable bonds, State and Federal Low Income Housing Tax Credits, and loan programs that support our housing priorities.
HCR's State of New York Mortgage Agency (SONYMA), provides financing and programs designed for first-time and low-income homebuyers. SONYMA also manages programs to help homeowners with critical repairs, accessibility, weatherization and energy efficiency upgrades.
- Community Revitalization
HCR invests in strong communities through State and Federal grants to municipalities and nonprofits that increase affordable housing opportunities, develop small businesses, build community facilities, and repair or improve infrastructure.
- Rent Regulation and Tenant Protection
In New York City and adjacent counties, HCR enforces the State’s Rent Regulation Laws through our Office of Rent Administration and protects the rights of tenants facing landlord harassment or rent overcharges through the Tenant Protection Unit.
- Fair Housing
HCR ensures that all of the investments we make in every community adhere to the law and provide fair housing opportunity for all New Yorkers.