As our communities navigated an unprecedented year of social, health, and economic issues, HDC remained dedicated to ensuring more New Yorkers would benefit from the safety and security of a home they can afford. We are pleased to share with you HDC’s first video Annual Report which reflects on some the challenges faced, as well as what we were able to achieve amidst this truly remarkable year.
HDC started off 2020 strong, gearing up to continue our work to help the City through the 7th year of the Housing New York plan and taking steps to expand our mission to support the preservation of our city’s public housing. When the COVID-19 pandemic hit, HDC responded swiftly to ensure our work continued while protecting the health and well-being of our employees and the New Yorkers we serve.
Diversity, Equity, & Inclusion
This year was marked by an historic moment of reckoning in confronting systemic racial inequities in our country. HDC joined hands with our communities in the call for social justice and took important first steps to ensure greater diversity and inclusion starting from within.
Housing New York 2.0
While the pandemic took its toll on the health and economic well-being of our communities, HDC helped the City advance an ambitious affordable housing pipeline that would provide housing security and greater opportunity to New Yorkers at a time it’s needed most.
Despite the challenges of the pandemic, construction was able to safely continue on our active pipeline of developments so that more people could move into homes they could afford at a time of great instability.
NYCHA PACT 2.0
HDC continued to strengthen our partnership with NYCHA to help provide critical repairs, tenant protections, and guaranteed affordability to NYCHA residents through the NYCHA PACT 2.0 program. In 2020, HDC launched the inaugural issuance of our Housing Impact Bonds specifically to support the preservation of public housing under PACT.
Despite extraordinary conditions, HDC helped to finance more than 9,700 affordable homes in 2020. We also celebrated wins at the federal level which will unlock resources to create even more affordable housing in New York City and across the nation. As we look ahead with hope for a strong recovery for our city, HDC thanks all our partners for helping to ensure our city remains affordable, equitable, and secure through the creation and preservation of affordable housing.