Image courtesy of Gov. Kathy Hochul’s Office
February 25, 2022
Hochul says 190 homes at Inwood Tower will remain affordable for next 30 years
Gov. Kathy Hochul on Thursday announced an agreement with New York State Homes and Community Renewal (NYHCR) to preserve affordability for 30 years for 190 households at Inwood Tower, a Mitchell-Lama cooperative development in Washington Heights. By terms of the agreement, NYHCR will grant the co-op a $7.6 million subsidy loan that the development will use for essential repairs. With this grant, the state has ensured that more than 22,000 Mitchell-Lama apartments remain affordable for low and moderate-income New Yorkers as part of its five-year housing plan.
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