Mayor Mamdani Cuts Ribbon on Affordable Co-Ops at ANCP Morningside, Highlights Homeownership Agenda in Block by Block Housing Plan

 

ANCP Morningside transforms three formerly abandoned buildings in Morningside Heights into permanently affordable, shared-equity homeownership opportunities for working class New Yorkers

  

Block by Block housing plan includes major investments in homeownership, resident-controlled co-ops and protections for existing homeowners

Today, Mayor Zohran Kwame Mamdani celebrated the ribbon-cutting of the ANCP Morningside affordable homeownership project and highlighted the administration's commitment to expanding for homeownership through Block by Block: The Housing Plan for a New Era.   

  

The ANCP Morningside project transformed three long-neglected buildings into permanently affordable, shared-equity cooperatives for working class New Yorkers. Mayor Mamdani joined City leaders, neighborhood residents and project partners Genesis Companies and Habitat for Humanity New York City and Westchester County to cut the ribbon on the development, which includes 36 affordable homes and two ground-floor commercial spaces. The project was financed under the Department of Housing Preservation and Development (HPD)’s Affordable Neighborhood Cooperative Program (ANCP), which rehabilitates and converts City-owned buildings into affordable cooperatives.  

  

Block by Block, released May 26, makes significant investments in affordable homeownership, resident-controlled cooperatives, community land trusts and programs that help existing homeowners remain in their homes. Investments in the Mayor’s Executive Budget will increase the creation of affordable homeownership opportunities by 85% over the next two fiscal years and establish Our Home, a new program that will build on the successes of ANCP to convert a wider range of buildings into resident-controlled cooperatives.   

  

The budget will also double the number of affordable homeownership opportunities created through the Open Door program and expand the HomeFirst down payment assistance program.  

  

“For generations, homeownership has been a clear path to stability, but it’s become out of reach for working class New Yorkers. Projects like ANCP Morningside show what is possible when we expand cooperative and community ownership and Block by Block will ensure more New Yorkers have the chance to put down roots and build a future here, whether they rent or own,” said Mayor Mamdani.  

  

“Our work to address the housing crisis is about more than just a place to lay your head – it is about ensuring that every New Yorker has a safe home where they can build a life. Through Block by Block, we are investing in affordable homeownership and co-op projects like ANCP Morningside so that even more New Yorkers can benefit from housing stability. This is just one piece of our work to treat the housing crisis with the ambition, scale, and urgency that New Yorkers deserve,” said Leila Bozorg, Deputy Mayor for Housing and Planning. 

 

“We aim to lead the nation in every area of housing — building neighborhoods for working people, preserving affordability, and even something that many thought was impossible: affordable homeownership,” said Patrick Love, Deputy Commissioner for Development at HPD. “By transforming three neglected buildings into affordable coops, we are investing in Harlem and enabling families to finally build equity in their neighborhoods. Thank you to Habitat for Humanity, Genesis Companies, and the Community Preservation Corporation for believing in affordable homeownership.”  

  

Block by Block also includes new measures to support and protect existing homeowners across the five boroughs. The plan creates the City’s first Mayor’s Office of Deed Theft Prevention and directs HPD to launch the Mortgage Assistance Program (MAP), which will provide repayable, no-interest loans to low-income homeowners facing financial hardship.   

  

The Mamdani administration will also strengthen the HomeFix program to help homeowners make critical repairs, publish a comprehensive homeowner resources guide and improve access to the Senior Citizen Homeowners’ Exemption (SCHE) and the Disabled Homeowners’ Exemption (DHE) programs, helping more New Yorkers remain in their homes.  

  

In addition, HPD, the Department of Buildings and the Landmarks Preservation Commission will provide financial and technical assistance to help homeowners create ancillary dwelling units (ADUs), making it easier to bring in extra income, add space for family members and age in place.   

  

Block by Block is the Mamdani administration’s strategy to tackle New York City’s housing crisis with the scale and urgency the moment demands. Beyond its homeownership initiatives, the plan outlines a path to build 200,000 affordable homes and preserve another 200,000 over the next decade. It also includes stronger tenant protections — including an overhaul of how the City responds to building code complaints — improvements for NYCHA residents, support for workers who build housing and reforms to streamline housing permitting and affordable housing placements.