About this service
The new Affordable Neighborhoods for New Yorkers program supports affordable housing in New York City. Replacing the expired 421-a program, this program aims to provide property tax exemptions for construction of new multiple dwelling units and completed affordable units.
Updated income requirements, construction wages, and permanent affordability have been implemented. Multiple dwelling and homeownership projects containing six or more residential units commenced after June 15th, 2022 up to June 15th, 2034 with completion by June 15th, 2038 can qualify if they meet the applicable requirements.
All prospective applicants must submit the Applicant Registration Form to HPD no later than six (6) months after the Commencement Date. HPD is currently updating certain application forms for ANNY Program Benefits.
Highlights
- 421-a successor program
- Affordable unit requirements
- HPD registration support
- New construction focus
Service details
- Program
- 485-x ANNY
Scope
- Minimum units
- 6+ residential units
Requirements
- Registration
- HPD within 6 months of commencement
Coverage
- Coverage
- New York City
How to get started
- For 485-x program questions, call 718-273-3080 ext. 2.
