Major investments by government in aging Mitchell-Lama developments enable overdue capital repairs & compliance with climate mandates. These actions preserve deeply affordable Mitchell-Lama co-ops for future generations.

Through this recent history of substantial funding initiatives for the critical repair needs of aging Mitchell-Lama co-ops, the supervising agencies have shown the ability to invest in this not-for-profit model of housing while holding debt service payments steady and thus not burdening the lowest income shareholders with large maintenance increases. The Mitchell-Lama program, New York’s premier example of social housing, assures that costs will remain affordable for current residents, and that purchase prices will continue to be affordable to lower- and moderate-income New York working families.

Here are a few examples:

• $7.6 million dollar subsidy loan to Inwood Tower in Washington Heights, announced by HCR in February 2022.
• Cadman Plaza North is in the process of closing on an approximately $33 million dollar HPD package of very low-interest loans.
• Rosalie Manning, in Yorkville, even though the smallest Mitchell-Lama in Manhattan, got a very low cost $14 million dollar refinancing package in June of 2023.

Further government investment is needed to preserve the existing Mitchell-Lama developments, and to restart and expand this highly successful model of housing by enacting a permanently not-for-profit Mitchell-Lama 2.0 program that will ensure deep affordability in perpetuity.