Housing Development Fund Corporations

Housing Development Fund Corporations (HDFCs) are non-profit organizations that develop, own, and manage affordable cooperatively owned housing in New York City. They assemble funds, acquire properties, and oversee maintenance and operations for residents, who typically share ownership through a cooperative structure. HDFCs aim to provide affordable homeownership options while ensuring financial sustainability and community stability. They often operate in neighborhoods with high housing costs, offering residents a way to build equity and maintain long-term affordability. Essentially, HDFCs serve as specialized entities that facilitate community-based, cooperative homeownership for low- to moderate-income residents.