NEW YORK CITY-More demands are coming up among developers for the 80/20 program offered by the New York State Housing Finance Agency, due to the growing development in the city's apartment market.
This state program offers affordable finance for developers at 1.5 to 2% below market rates to construct rental units. From the beginning of this year, HFA has received 12 applications from developers for the program, as compared just four applications received last year. For the full story, go to Crain's New York Business.
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