HCDC has also served as a sponsor in several affordable housing initiatives. In the start-up of new projects, HCDC has developed marketing plans and management plans specific to the project guidelines and goals.
Throughout its existence Highbridge Community Development Corporation has developed a multitude of projects both as a developer and for other developers seeking to use our expertise in this area. HCDC has also performed the full array of lease-up services required under new start-up projects from lotteries with the various oversight, to implementing the tenant selection plan, full lease-up and ongoing compliance monitoring and reporting.
Under the Third Party Transfer Program, Highbridge Community Development Corporation organized and spun off HCHDFC to sponsor, own, rehabilitate, and operate 23 buildings (741) units and six vacant lots under the Vacant Cluster Program. These buildings were completed and fully occupied by 1992, and the vacant lots were made into playlots. Parallel to the Vacant Cluster, HCHDFC developed a cooperative apartment project and several home ownership projects with the Housing Partnership and the NYSAHC.
New Construction Projects
Highbridge Community Development Corporation has developed and constructed affordable housing for families, seniors, and home ownership. These projects were developed through the ongoing partnership with many housing agencies including NYCHPD, NYCHDC, NYSHCR, USHUD as well as financing agencies such as CPC, HFA, HTF, Enterprise and private financial institutions in addition to self-funding. Our new construction projects also cross a myriad of available financing programs such as LIHTC, 202 funding, and grants which assist HCDC in providing new affordable housing opportunities.
Four projects (Highbridge Senior, Shakespeare Senior, University Senior and ArtsBridge Senior) were developed under the HUD 202 program, and three projects (Nelson Senior, Jesup Avenue LP and Jesup Avenue Associates LP) with NYSHCR. HCDC has developed and managed over 600 senior housing units.