SBRG Success Stories
FHLBNY Awards $703K to San Juan Affordable Housing Complex
The El Zorzal Apartments, located in San Juan, Puerto Rico, received a $703,540 Affordable Housing Program (AHP) grant from the FHLBNY as part of its 2020 AHP Round. The project is sponsored by the nonprofit Lucha Contra El Sida Inc., and is being financed through FHLBNY partner Banco Popular de Puerto Rico. The development and rehabilitation of the El Zorzal Apartments complex began in June 2019, and the AHP grant will help support 24 apartments that will provide homes for very low-income homeless, disabled households.
Read the full article at Newsismybusiness.com.
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, please contact us at (212) 441-6850 or ahp@fhlbny.com.
