Of the city’s total allocation, $48 million was set aside for affordable rental housing.
The program is designed to help address the post-storm housing needs of lower-income renters and can be used for new construction or major rehabilitation of existing affordable housing.
Projects had to reserve at least 51% of their apartments for households earning 80% of the Area Median Income (AMI) or less.
The city also gave preference to projects with deeper affordability, long-term affordability commitments, financing in place, access to transit and services, and housing for seniors, people with disabilities, residents experiencing homelessness and other special-needs populations.
Of the 27 applications submitted through the city’s Request for Applications process, six projects were selected for funding: