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A first-of-its kind program, the New York Land Opportunity Program (NYLOP) helps mission-driven organizations with limited real estate experience to partner with experienced developers to develop new affordable or supportive housing on their underutilized land.
Five churches were selected in August 2017 for a pilot cohort (read the coverage in the Wall Street Journal) and received intensive technical assistance from LISC NYC, which included pro-bono architectural, legal, and financial technical assistance.
Upon receiving nine months of intensive support, the following churches finalized and issued Request for Proposals to identify experienced developer partners:.
Each church has received multiple responses to their RFP and is currently in negotiation with their preferred developer. Through NYLOP, these churches will remain in their communities, while partnering with developers who can help them build hundreds of new units of affordable housing and community space so that they can continue offering programs that address the needs of youth, seniors and those struggling with hunger, poverty and homelessness in their neighborhoods.
Stay tuned for further updates!
In fall/winter 2016, LISC NYC offered four NYLOP technical assistance workshops in Brooklyn, Queens, Bronx and Manhattan, reaching over 300 participants. These workshops covered: (1) what it takes to develop affordable housing through a joint venture partnership; (2) case studies of successful joint venture partnerships to develop affordable housing; (3) resources for development and long-term stewardship of affordable housing; and (4) an overview of LISC NYC’s NYLOP technical assistance program.
Thanks to our Partners!
NYLOP is a LISC NYC partnership with the NYC Department of Housing Preservation and Development and the Mayor’s Community Affairs Unit.
This program is made possible through the generous support of Booth Ferris Foundation, along with BankUnited, Deutsche Bank, M&T Bank, and Santander Bank.
Special thanks to our technical assistance partners: Goldstein Hall and Edelman Sultan Knox Wood / Architects.
NYLOP In the News:
For more information:
Please contact LISC Senior Community Development Officer Grace Chung at email@example.com.