AHP Success Stories

 Montgomery Gardens Revitalized by AHP Grant

FHLBNY employees joined the ribbon-cutting ceremony for the Mill Creek Gardens project, made possible thanks to the partnership between the Jersey City Housing Authority and Citibank. Mill Creek Gardens, which received a $1,575,000 award in the 2016 round, will offer 126 new, modern, affordable housing units to working families. The project is the first phase of the larger Montgomery Gardens revitalization effort, which consists of the Montgomery Gardens public housing development. This development will serve as the catalyst for the revitalization of both the site and the community-at-large, and is formally known as the McGinley Square-Montgomery Street Corridor Choice Neighborhood, which was the recipient of a 2010 HUD Choice Neighborhoods Initiative Planning Grant.

AHP is a subsidy program in which funds are awarded through a competitive process to member lenders in support of projects that create and/or preserve housing for lower income families and individuals. For more information on the AHP program, or to see if the housing project you have in mind is eligible for AHP funding, contact us at (212) 441-6850 or ahp@fhlbny.com.