The MHANY Multifamily Preservation Loan Program (MPLP) facilitates the preservation of 12 rental units and one commercial space across four properties in Brooklyn. Through this Article XI tax exemption and regulatory agreement, HPD aims to preserve affordable housing in various neighborhoods. This effort involves a mix of substantial and moderate renovations to enhance existing units, ensuring long-term affordability and better living conditions.
The program ensures the preservation and rehabilitation of essential affordable housing units in Brooklyn, supporting the city's housing stability goals and benefiting low- to moderate-income residents.